This is the result of T-Bills Primary Auction of Today.

Tripleaj:
Please which bank Sir.

To withdraw, visit their app/asset mgt website and click on redemption. The minimum amount that can be left in the account is N5,000.00. N.B Stanbic asset mgt is currently undergoing routine maintenace until 29th Dec., and this might affect their service delivery.

wumijanet:
Please how do I liquidate my Stanbic MMF, and what is the limit amount that should be left in it if I don’t want to close the account..Thank you

Auction Result

15/05/2019

(91-Day) - 10.0000%

(182-Day) - 12.3000%

(364-Day) - 12.4900%

You need to be at the bank for the first time of subscription to stanbic mmf, for ease of tracing the payment to be made & signing necessary KYC documents. Just allocate some time to visit the bank again to avoid stories when you need to redeem your money.

casted81:
I just left stanbic bank now, the crowd is too much.

Can someone put me through on how to register for mmf online.

The amount involved is very important. If the amount is below 50m, you re only bidding via the bank's position in the PMA.

Omonigeriarere:
Hi House,

I bided for PMA at GTB at the rates of 12.5% for 182 days and the bid was unsuccessful despite the fact that same was below the official rate of 12.6.released by CBN.

Could you please suggest the way forward as I am ready to take it up with the Bank.

Thanks in anticipation of your swift response.

Auction Date (03/04/2019)

Stop Rates (%):

10.2900 - 91 Day

12.6000 - 182 Day

12.8500 - 364 Day

lancee:
Pls House update with todays results ..Thanks

It's real bro. Stanbic MMF is the real deal at the moment!

Psychodavidovic:
Am i the only one seeing Stanbic reach 15.49 from 13.xx yesterday ?

He is very correct. Next Auction is on 04/04/2019.

lancee:
Zenith officer just told me there is no PRY Tbills Auction this week

pls house how far it that true ?

Is that rate of 9% on FD Net of WHT? The more you look the less you see with some Nigerian Banks.

ClitRaider:

Thanks brothers.
I just left Diamond Bank, the available tenor for TBills starts from 61 days @8.2%.
Meanwhile the bank officer advised me to go for FD for 30 days @ 9%.

I think the latter is better tho.

Your Upfront interest = 52,356.16 using the parameters specified below.

Kirchhoff01:
make una no vex... a summing I have 2M I want to invest in TBills and the rate is 10.5% for 91days... abeg how e go be... wetin be my interest. I was told interest=principal*time(tenure)*rate/365 but the stuff dey give me vague values. Help me guys

Let us be gentle on DrTee1, he already claimed naivety in the introductory part of his message. I believe he now has a better understanding of per annum(p.a) interest rates.

deepwater:


Dear DrTee1

Learn to how to calculate simple interest first and how the time "T" operates annually in reality.


On a more serious note, are u aware that if a relative of yours were to be the president u could be his minister of finance by selling what you wrote up there to the president.

Then we keep crumbling. well that is what we are going through in Nigeria now (no offense) sir

The app was well analyzed in previous pages of this thread. Do well to search for the detailed responses

diamondextra:
Anyone here heard of i-invest app for purchasing tbills and how it works?..is it safe?

You can have access to your money at any time with Fixed Deposit; and your principal will be intact just some fractions of the earned interest will be forgone.

naijacartoon:
diamond and is same across board.

side note

instead of giving bank that 1mil for 12months and get 1mil100k make i use am run animation business and am open for investors in animation business

if you get cash to spare is good

kudos for this piece

Webbyguy:
You might have noticed that you have some friends earning big income but at the end of the month, they run to you to come borrow money and you keep wondering how they spent all their money and had nothing left. Well the answer is money has wings and it can fly.

The thing is if you don’t learn to manage your money, you might just spend it all without knowing exactly what you’ve spent it on.

A good way to manage your income is by saving and investing part of it, that way you will be able yo have extra funds asides what you earn and you can use it for some other projects.

One thing you should take with you in this post is that you shouldn’t spend more than you earn, I know you’ve heard this a lot of time but I’m reemphasizing it because that’s one of the main principles of financial success.

So I will be giving you some tips on how to save and invest your money in Nigeria.


Don’t spend on betting

I’m always surprised at the number of people that are into gambling especially sport betting and these people see it as a means of making money.

Let me just tell you now that it is a sure way to waste your money. I even see some blogs and e-books showing you strategies on how to play and win from betting sites. Sorry to burst their bubble, there’s no winning strategy for betting so just forget about making it an extra source of income.

The way betting works is you play 10 rounds, you lose 8 and you win 2 or let’s say you lose 7 and win 3, at the end of the day it’s the betting company that’s making profit and that is why you see them getting richer.

If you want to go into betting, don’t be part of the customers losing their money on the game instead you should be the owner of the betting company making the money.


Don’t spend heavily on drinking alcohol

Hey! I know this a NO for a lot people because that’s the way they have fun but let’s face the fact, just try to do without drinking for a month and save the money instead, you’ll be surprised at the amount you would have been able to save at the end of the month.

I know you’re thinking I’m going to tell you to stop drinking but I won’t. My advice is you reduce your intake of alcohol. Maybe if you’ve been taking 5 bottles before, you can reduce it to 2 bottles.

But really I would prefer you stop drinking alcohol if you can because there’s always that tendency to keep increasing the number of bottles you take if you are someone who drinks every day and you know that taking too much alcohol can also lead to health issues.


Patronize mama put restaurant instead of fast food eatery

One of the ways you can spend less is by visiting eateries less often, I’m not saying you shouldn’t visit eateries at all but it shouldn’t be every day because you can actually get same food from mama put restaurant at a lower price. So why not just patronize mama put more.

From my experience some mama put restaurant cook better than some of these eateries then why should I pay more at an eatery when I can get something better elsewhere at a lower price.

If you earn big and you feel like eating in an eatery every day, it’s not bad but if you still struggling and you don’t even have enough savings then just eat more at mama put and don’t mind what people will say.

Another option is you can cook your food yourself as this will save you a lot of cost but from what I’ve been seeing these days some people don’t know how to cook any food except noodles while for some people they don’t just have the time to cook. So if you are in this category I suggest you buy your food outside.


Reduce the number of events you attend

It’s good to go for parties and event but for some people it’s already part of their weekly plan. If you attend wedding ceremonies every weekend, it shows that you don’t really value your time except maybe you are an MC, a DJ or a party planner then it’s okay for you to go for parties regularly.

Some other people’s obsession is going for music concert, they are always at every top music concert, if you are in the entertainment industry then it’s cool to do such but if you are not in the entertainment industry then I see it as a waste of time.


Have a budget

Having a budget helps you control your spending. At the beginning of the month you should budget for the funds you want to spend that month.

Imagine you walk into a store with your ATM card and you start shopping, if you don’t have a budget you might just buy about half of the things in the store and before you know it, you’ve spent all the money in your account shopping.

When people hear budget, they think it’s about reducing your cost to the barest minimum but that’s not totally true because in a budget you determine how much you want to spend, if you want to spend big it’s allowed. The main purpose of budget is it helps you know exactly what you want to do with the money you have.

So a man with no budget is like a man who is confused and can be easily led astray.


Make use of coupons and promos

There are different types of promos and coupons we have these days. Some company award you reward points when you buy from them then when you have enough points you can you is to purchase something from them. Some other companies give discounts during special seasons like Valentine’s Day, Christmas seasons, new year period and even the black Friday.

You might be the type of person that does not care about getting discount because you feel it’s just a little percentage off what you are buying but you should also know that every penny counts.

So if your aim is to spend less then you should watch out for these discount periods and take advantage of the opportunities it presents.


Open more than one bank account

It’s good you open an account with a bank but I think is better when you have two bank account. I know some people wouldn’t like this idea because they believe that when you have more than one account, you’ll be spending more money.

My reason for suggesting opening two accounts is because you need an account where you should be keeping your personal savings. You might not even have an ATM card for this account so that it is not easily accessible to you. The main purpose of the account is just for saving your funds.

You should also have a main account you run which you can use for shopping; doing transfers, paying bills and any other transaction but such account can’t be where you keep your personal savings because you’ll easily spend it if you do that.

You can also decide do have more than two accounts in case you want to save for other projects.

One of the reasons I prefer keeping my funds with the bank is that you can always get an accurate report of your accounts.


Save funds in piggy bank

One of the ways to also save money is by saving your money in a piggy bank. You can keep that extra money you make in the piggy bank.

Although I’ve not tried this recently but I think I’m going to try it soon and I think you should try it too and see the result.

When you save in a piggy bank it’s going to make you realize that little drops of water make a mighty ocean and little grains of sand make the pleasant land because you will be surprised at how much those extra funds can amount to at the end of one year.


Save funds with cooperatives

Another way you can save money is by saving money with a group of people and you all benefit from it mutually. The most common one is called Ajo.

This actually works best if you want to save money for a big project. You can form a group of 10 persons and you all contributeN50,000 monthly for 10 months. Each month different person gets the whole bulk of money contributed by everyone. So that means if it’s your turn to get paid, you’ll get N500,000. I think that makes sense.

Definitely it’s not everyone that’s going to like this idea because you need to be disciplined to do it. I tried once and really it wasn’t easy but it gave me the result I needed, I was able to raise enough money for what I wanted to buy.


Make investments

This is like going a step further than saving your funds in the bank. Let’s say you have some funds in your bank account, you can decide to invest it with bank for a period of time.

The interest you will get on your money wouldn’t be high but I can assure you that it is better than just leaving your money in your bank account and it is also one of the safest means of investment.

There are different types of investments you can do which include fixed deposit, treasury bills, treasury bonds, treasury notes and you can also visit your bank to make enquiries about their investment packages.

Having an investment is a source of passive income because you don’t do any activity but you get interest on your money.

There are other good investments aside the ones have mentioned and you can try making your own research on it.

Before you make any investment decision, get advice from professionals. Don’t make the mistake of investing in High-Yield Investment Programs (HYIP) because you might use lose your money.

If you see any investment program promising you more 40% interest rate in a month, you need to assess it thoroughly or you just run.



Conclusion

It is possible for you to spend less and save more but that’s only if you are focused on doing it. A lot of people haven’t been able to save much money because they’ve never tried to do it.

But I’m challenging you today to try it using some of these tips I’ve written above and you will be surprised by the tremendous result you are going to get.

Happy savings!



Source.

You can visit www.successpoint.com.ng for more interesting post

For that amount, I will advise you try MMF with a reputable investment company like AXA, meristem, FDC, etc

bamangar:
I have some money, like N100k I wish to drop into fixed deposit. How lucrative is it? And which bank will be best suitable this 2019?

You can reach me via my signature on whatsapp

galaxy15:


Pls I'm also new and looking to explore this opportunity. I'd lovely someone to put me through on how to go about it and answer the questions I'd be having. I'd appreciate if I could reach you via whatsapp for easy communications. Anybody willing to put me through.

91days = 11%
182days = 13.5%
364days = 15%

Gavrelino123:
Kindly,anyone who has today's auctioning results for primary markets should kindly update us..?

There are investment companies that give as high as that on TD, if not more. You can enquire further, best rates are given by Non-banking financial institutions

234ng44uk:


You advised fixed deposit because he won't get more than 11% on treasury bills. No fixed deposit will pay more than 11% either. In fact he'll be lucky to get half of that.

You can invest it with Bismarck Rewane company-Financial Derivatives Company ltd- A licensed wealth mgt/investment company. I do use them and so far the service has been satisfactory with attractive rates. hope it helps

SolomonAdeola:
Hello fam...i just came across this wonderful family. I have 500k..pls what's the best way to invest it

Considering the volume of 1m (which is <50m min. bid volume in the treasury bills primary market auction as stipulated by CBN),you will be availed a secondary market rate at below 11%pa on treasury bills. My advise would be you go for a Fixed deposit with an investment house or Non-bank financial institution that invest in risk-free instrument(money market). Hope you find this helpful

Sunwa1:
Good morning TB investors,
Please, I need some clarifications, if I have a million naira tof run a short term investment for 90 days, which is preferable treasuring bill or fixed deposit

Please, what is the likely interest rates for 1million on a 90 days tenure in a fixed deposit and on a treasuring bill.

Thanks will appreciate if I get a comprehensive response.

My pleasure anytime

Shekochild:
Thanks for your advice.

Shekochild:
Which stock would you suggest a new investor should buy at this time. Pls suggest stocks that will be good for both long time and short time investment and give reasons why you think the suggested stocks are better. Thanks for contributing...

Stocks are abit unstable at the moment due to the forthcoming elections. It is more safer to stick to money market investment at the moment. Hope this helps

bruzrecordz:
Halo guys

I am thinking about fixing my money with GTB but I need first information before heading to my branch to make the transaction..if you have had any problem or hidden charges you encountered while fixing your money please tell me, let me know what I am getting myself into, 2019 will be a year that I want to make smart choices and investment...so please feel to share with me.
and also if you know anything about treasury bills kindly share too, cause you might be saving a life.

From my knowledge GTB don't offer the best rates on TD because there main strength is retail banking.