₦airaland Forum

koreanlord:
Thanks a lot...
I checked now
They posted only 3,723,111.38...

Meaning they must have netted off the charges. Ordinarilly, the certificate should have shown Principal, Upfront Interest, Charges and Net if it is being netted off. You can send them an email or call them to give you the breakdown of the amount.

koreanlord:
I am not sure sir...because nothing of such is stated on the certificate and I didn't get any debit notification too

Check your account transaction history. Some banks net if off from the upfront interest while some banks post the upfront interest and charges separately.

koreanlord:
Upfront interest : 3,723,111.38 ( received)
Principal: N20000000
Rate: 18.8%
Tenor: 364 days

Guys, the above was the details I got from my bank yesterday...

Please, I hope this rate is not secondary market oooo? Cos I am still confused as to how they came about that figure for upfront interest....

Someone please enlighten me...

Interest(I) = (Principal(P) * Rate(R) * Tenor(T) ) / (Day in Year(Y) * 100)

I = (P * R * T) / (Y * 100)

I = (20,000,000 * 18.8 * 364) / 36500

I = 136,864,000,000 /36,500

I = 3,749,698.63

Were charges removed from the upfront interest.

cutefy:
If you get all these books for him, he'll get confused. He should stick to one book from each sections. That way, he will stay focused and committed.

Here's my pick on the list provided:
1 or 2+14 or 3+14(For Gross Anatomy)
4 or 9( For Physiology)
26 or 5 or 27 or 6( For Biochemistry)
7 or 29 or 17 ( For Embryology)
15 or 8 (For Histology)
25 + Cunningham manual vol 1&2 ( For Dissection. NB: the manuals are optional since just one student's manual can be used by a group of about 8 to 10 students during dissection)
16 (For mastering theory questions. You may forget about other mcqs. Rather, he should get the school's past questions)
11 can be ignored now because it's use will be in 300L.

All the best to your son.

Thanks.

My child is a girl. Apologies to all for not explicitly saying it.

drealj:
Exactly. Sometimes I wonder if Nowadays banker even go to school

You need to see the way they will be arguing with you and be saying that they are bankers of repute with so many years of banking experience. A customer service office who only gives you a form to fill to open an account or issue you an ATM card will be claiming a banker of repute with so many years of banking experience. Even a Telller will say the same thing.

Tyg3rFvry:
If you want to buy all those books omor you'll spend money and the time is too short for your child to study them...

1. Netter’s Atlas + Moore’s Clinically Oriented Anatomy
2. Junqueira’s Basic Histology + Wheater's functional Histology (Lab companion)
3. Langman’s Embryology
4. Lippincott Biochemistry
5. Costanzo Physiology (Primary) + Guyton and Hall for reference

Buy those books they're sufficient for second and third year

Thanks.

Amya:
It's reflected now. Thanks

Great. Enjoy the MMF ride.

Amya:
I went to rhe bank early this morning and effected the transfer with my mmf account as narration. It still haven't reflected there till this minute. Should I be worried?

No need to worry in as far as you have the transfer receipt. Today is End Of Month and weekend is coming. End of month is always a busy day for banks.

Bennycollins:
Hi esteemed forumites.
I need help from those that know.
Zenith bank subscribed me for 340+ days Tbills at the rate of about 19+ % . I had chosen 22% rate in the form with instructions that any thing less should not be accepted to me, but the did everything without consulting me.
So I applied that the investment be cancelled.and the have kept back 309k as penalty, according to the Operations Head. Principal amount was 10m and 1703000 had been credited as upfront.
How do I handle this, as 300k is too much for me to lose like that.
Thanks

RayRay06677:
Terrible experience, would have done the calculation before going ahead.

Meanwhile, for investment less than 50m you can't decide the rate, you go with the bank rate.

Sorry for your loses, assume that's part of your investment class fees.

340+ days should be secondary market. Even with N50m, a customer cannot decide the rate in a secondary market. A customer with N50m can only decide a rate in a primary action. The secondary market rate is always made known before the transaction is done.

Amya:
I opened a Stanbic MMF account online and I'm trying to make a transfer of about 10m from a personal account. Please how do i go about it. I don't have an ATM card for that account.

Do not do any transfer from an ATM machine or online as ATM machines or online card transactions do not have provision for narrative where you are expected to put your e-account. If you do not have a Mobile App for that account or your transfer limit is below the amount you want to transfer, just walk up to the branch of the bank of the account and do the transfer. Fill in the e-account on the narrative/reference/description field of the form and insist on the staff using it as you filled it without any other addition.

David2O:
In my opinion, it's not compulsory to purchase all textbooks listed immediately or at a later stage. Instead, it is advisable for him to consult with senior medicos or academic advisors within his institution to determine the most essential resources.

Here is a template sha;

Anatomy:
Primary: Keith Moore's Clinically Oriented Anatomy (9th edition) and Frank Netter's Atlas of Human Anatomy
Secondary: Questions and Answers on Anatomy by Gbemisola and Vishram Anatomy

Physiology:
Primary: Ganong Physiology or Guyton and Hall Physiology
Secondary: Costanzo Physiology or Oyebola Physiology

Biochemistry:
Primary: Vasudevan Biochemistry
Secondary: Satyanarayana Biochemistry

Histology:
Junquerai Histology

Embryology:
Primary: Developing Human by Keith Moore
Secondary: Sadler's Embryology

Neuroanatomy:
Neuroanatomy by Indebir Singh

Dissection Kit


Please note that soft copies of some of these textbooks may be available online, offering a more economical alternative.

Thank you.

Iam based in Lagos. Do you know of any bookshop in Lagos to get them?. My child is coming to Lagos next week.

I will still like to get hard copy even if there are soft copies online.

Good Morning Medics.

I got the following list of books from my child rounding up 100lvl in Medical school and about to enter 200lvl. I need your opinions on them if it is compulsory to buy all immediately.

Preclinical Books
1) Keith Moore Anatomy 9th Ed
2) Human Anatomy Charusia 9th Ed
3) Snell's clinical Anatomy
3) Last Anatomy 12th Ed
4) Sembuligan Physiology 9th Ed
5) Vasudan bch
6) Lehninger bch
7) Keith Moore Embryology
8 ) Junquerai Histology
9) Guyton physiology 14th Ed
10) Gray Anatomy
11) Neuroanatomy Indebir Singh 9th Ed
12) Ganong Physiology 26th Ed
13) Textbook of * Physiology Ezeilo
14) Frank Netter Atlas
15) Wheaters Histology 6th Ed
16) Questions and Answers on Anatomy Gbemisola
17) Indebir Singh Embryology
18) oxford medical dictionary
19) mcq in physiology
20) mcq in anatomy
21) mcq in bch
22) Cunningham manual
Vol 1
Vol 2
Vol 3
23) Chattergia bch 9th Ed
24) Clinical Anatomy by Harrold Ellis
25) Dissecting sets
26) Harper's Biochemistry
27) Lippincott Biochemistry
29) Sadler Embryology

Indigbo:
Maybe you should read what I wrote again. I clearly stated "About to". I'm only making enquiry about the total cost of tuition fees for fresher, as in rough idea.

Ok. Thought he had gotten it as some schools are resuming new session in February/March.

Indigbo:
Please what is the total cost of school fees for a fresher at Obafemi Awolowo University (OAU), for this course "Mass Communication" ?

Someone is about to give my cousin first year scholarship and want me to help him find out the total cost and breakdown.

Moderator please help out for front page. Thanks

If your cousin has actually been given the OAU admission, the breakdown of the fees will be on hos portal page. We are now in automated age.

Akerewe:
Good day house,

Recently I saw 30% for 730days on FAIR MONEY APP

It's tempting but all these Fintech app might/ might not fuckup soon now or later.

Just my observation!

gare2510:
That is 15% for the first 365 days then another 15% for the second 365 days

Wa o. That is why it is good to ask questions or to read TCs. On the surface, somebody will think it is 30% per annum.

vanvickie:
Hi, please does anyone have an idea if it is possible for me to:

1. Open an account with stanbic IBTC bank,

2. Get my account details and mobile application and also

3. Invest in primary/secondary market tbills

WITHOUT going to the bank branch? Like can all these be done via email as I am unable to visit any bank at the moment?

Just send an email to their customer care(customercarenigeria@stanbicibtc.com). They will answer your questions very well. Their customer care is very efficient. You can include your phone number as they might want to call you.

factorial1:
So, asides your passport photograph that must meet the requirement. You only need two documents:

1. Birth Certificate issued by the National Population Commission or Declaration of age by Federal/State High Court or Customary Court of Appeal

2. Local Government Certificate of Indigeneship

Thanks.

factorial1:
I registered online using DIY, and had my capturing at Alausa two days ago.

Very smooth process and the officers were very polite too.

Spent about 30mins, and was done with the whole thing.

Please what are the documents and requirements for DIY online application as i intend to choose Alausa as capturing area.

BolaAdetoro:
Goód morning.

Again, the stanbicmutualfunds top up I didn't since 27rh hasn't been credited still.

I want to stop stressing over this issue as it's beginning to frustrate me. I've sent a mail to frontdest but no responses yet.

Do you think it's a network issue or because I paid using opay; so I can avoid this mistake in future. This is the first time I'm paying with opay.

Did you put your E-Account number on the narrative or reference field?.

Please where is Site 'B' located in Uniben?.

bharkarh:
is there any asset manager that allows monthly compounding of interest?

StabicIBTC Money Market and that is if you elect 'Reinvest Interest' when opening the account.

Check this guy, @emmasoft profile and chat him. He will give you more details.

Adamma91:
I have been trying to open mutual fund account with Stanbic but it seems I am not getting it right

I have been trying since last week

Check this guy, @emmasoft profile and chat him. He will sort you out.

BizErikah:
I thought about that but I calculated the yield and the 3x is more than the 1 time 360 days yield

I suspected this.

It is Simple Interest formula that is being used.

SI = (Principal * Tenor * Interest Rate) / (Days in Year * 100)

When a bank says interest is 8% on Savings Account, it is not 8% per month but 8% per annum.

OgogoroFreak:
what's the interest rate on stanbic ibtc mutual fund?

20.62%

https://www.stanbicibtcfundsmanagement.com/invest-now-4ev6leqy/

Amycanada:
Stanbic ibtc

If you chose the 'Reinvest' option at opening, you will always see your interest there. You can withdraw using the 'Redeem' option on the portal.

Amycanada:
Good morning all, please when is the right time to request for the accrued interest and what's the process of requesting for it?
Thank you.

Which Asset Management company?. I use StanbicIBTC Asset Management as i can collect my interest at anytime by just the 'Redeem' feature on the portal.

.

ironheart:
truth be told, i want to see how this lean ends. Before i take it up with the bank. Its funny what a lot of Nigerians are going through in the hands of the banks. It is one of the reasons we have many loan defaulters. Other countries strive on loan but here in Nigeria, we find it difficult to take loan for projects without running into problems. My reason for bringing this up is to assist others who wish to take a bank loan to check if they can cope with the repayment

He was lured with 7%. In actual fact, the 7% is per month which comes to 84% per annum. 84% will be used for the Reducing Balance calculation.

ironheart:
Hello Friends

I wish to share my experience taking a loan from Diamond bank through the Access More app.

Getting a loan depends on your salary and how much you are eligible to access. The criteria will be left for the bank to decide

Without boring you lets get into the breakdown. I hope the way i will write this can get proper formatting'

please @Seun of Nairaland, I'll like you to look into helping us with code to add excel sheet to Nairaland

Loan amount N509,700.00
Interest to pay N280,717.28
Total amount to be paid 790.417.28

Payment schedule

CO NAME START DATE DUE DATE AMOUNT DUE
MGT_FEE 5/15/2024 5/15/2024 5,097.00
CREDLIF_INS 5/15/2024 5/15/2024 5,097.00
MGT_TAX 5/15/2024 5/15/2024 382.28
MAIN_INT 5/15/2024 6/14/2024 35,679.00
PRINCIPAL 5/15/2024 6/14/2024 42,475.00
PRINCIPAL 6/14/2024 7/14/2024 42,475.00
MAIN_INT 6/14/2024 7/14/2024 32,705.75
PRINCIPAL 7/14/2024 8/14/2024 42,475.00
MAIN_INT 7/14/2024 8/14/2024 29,732.50
MAIN_INT 8/14/2024 9/14/2024 34,404.75
PRINCIPAL 8/14/2024 9/14/2024 42,475.00
MAIN_INT 9/14/2024 10/14/2024 30,582.00
PRINCIPAL 9/14/2024 10/14/2024 42,475.00
MAIN_INT 10/14/2024 11/14/2024 26,759.25
PRINCIPAL 10/14/2024 11/14/2024 42,475.00
MAIN_INT 11/14/2024 12/14/2024 22,936.50
PRINCIPAL 11/14/2024 12/14/2024 42,475.00
MAIN_INT 12/14/2024 1/14/2025 19,113.75
PRINCIPAL 12/14/2024 1/14/2025 42,475.00
MAIN_INT 1/14/2025 2/14/2025 15,291.00
PRINCIPAL 1/14/2025 2/14/2025 42,475.00
MAIN_INT 2/14/2025 3/14/2025 11,468.25
PRINCIPAL 2/14/2025 3/14/2025 42,475.00
MAIN_INT 3/14/2025 4/14/2025 7,645.50
PRINCIPAL 3/14/2025 4/14/2025 42,475.00
MAIN_INT 4/14/2025 5/10/2025 3,822.75
PRINCIPAL 4/14/2025 5/10/2025 42,475.00
790,417.28

The interest rate is 7% reducing balance.
what intrigues me is that reducing balance method being used to calculate in Nigeria is different from other climes. it doesn't favour the customer

@Nairaland mod, kindly share to front page and also add to the right section.

Thank you

Is this 7% per annum or per month?. If it is Per Month, then it means the interest rate is 84%(7 * 12).

emmasoft:
Management fees is charge on Asset under management (AUM) is per annum. What you see as the rate is net of fees.

You can always go through the funds fact sheet sent every month for details.

@emmasoft. My wife don turn your marketer. . She has introduced Stanbic MMF to somebody and i have sent her the link on your profile so that when the person opens using it, it will be through you.

canadaman18:
Asking on behalf of a family member .

Do others find Stanbic asset management customer experience to be poor . We’ve been trying to setup an account for over a month now. Simple tasks like a name update take them weeks. Anyone know any tips to get a hold of them ?

Setting up a Stanbic Asset Management Account is very easy. Using online is even faster once your KYC are fine.

Shogunxxxx:
Please, regarding the Stanbic IBTC MMF, can one DIY or it must be done through a bank official?

I was at one of the Stanbic branches today, the way the person in charge there was hustling me eh. He was like I need to make payment to an account(bearing his name), then I will be sent a password blah blah blah.

Asking if I was ready to start immediately, got me a bit scared

@emmasoft

Never you pay money to anybody's account for any investment including MMF. We are no longer in 1914. This is 2024. Real investment companies have online presence that you can open an account directly without involving a third party. Once opened, you will be sent a mail with login id, password and account to pay to.