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Business / How To Invest In Nigeria Bonds by Okfiscal(m): 8:03am On Jun 01
Do you know you can improve your monthly savings and also make good future financial status by investing in nigeria bonds system FGN Bonds.
Have you ever think about this- Ever since the capital market crumbled, few Nigerians with reliable information on investment have continued to rake in profit from this same market and are not ready to stop anytime soon. “Who no want make money?”
What differentiates you from these few individuals is information, no wonder they say “information is power” and you can’t beat that.
With the launch of the Federal Government Savings Bond earlier, I thought I should shed some light on the benefits of this investment vehicle.
So, I will be sharing with you how to save N5,000 monthly.

what makes this Savings Bond so great? Well, for one, it’s a guaranteed bond meaning that the Government guarantees to repay you in full at the agreed date.
I’ll be weighing their merits and demerits, benchmarking them against indices like inflation and also comparing them relative to each other so at the end of this series of posts, you’ll understand the ideal savings plan based on your personal circumstances.
If you are reading this on a smartphone right now with data you bought by yourself, then you have no excuse not to be able to save at least N5,000 every month. Also, if you’ve been finding it difficult to save regularly, well, this one’s for you.
without much i do let dive in

FEDERAL GOVERNMENT OF NIGERIA BONDS – FGN BONDS
let’s start with the FGN Savings Bond. Retail Savings Bonds have been around for close to 100 years in countries like the United States for example but Nigeria is just catching on. That’s really because, up till now, our government hasn’t really needed to borrow as much as they have been doing recently.
what is bond? A bond is simply a type of loan taken out by companies. Investors lend a company money when they buy its bonds. In exchange, the company pays an interest “coupon” (the annual interest rate paid on a bond, expressed as a percentage of face value) at predetermined intervals (usually annually or semiannually) and returns the principal on the maturity date, ending the loan.
Unlike stocks, bonds can vary significantly based on the terms of the bond’s indenture, a legal document outlining the characteristics of the bond. Because each bond issue is different, it is important to understand the precise terms before investing. In particular, there are six important features to look for when considering a bond.
now let discuss bonds in Nigeria system.
FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on behalf of the Federal Government. The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due. When you buy FGN Bonds, you are lending to the FGN for a specified period of time. The FGN Bonds are considered as the safest of all investments in domestic debt market because it is backed by the ‘full faith and credit’ of the Federal Government, and as such it is classified as a risk free debt instrument. They have no default risk, meaning that it is absolutely certain your interest and principal will be paid as and when due. The interest income earned from the securities are tax exempt.


Deal Agreement
Therefore, the Federal Government is giving every Nigeria an opportunity to lend a minimum of N5,000 and this will be paid back after 2 or 3 years depending on the issuance. Remember I said that there will be a coupon paid quarterly, well this is presently set at 13.01%.
So what makes this Savings Bond so great? Well, for one, it’s a guaranteed bond meaning that the Government guarantees to repay you in full at the agreed date. Your next question might be, “Should I buy the Savings Bond?” Well, there are a lot of reasons why you should. The Federal Government guarantee means that it is as risk free as an investment gets and the government plans to issue these bonds on a monthly basis so you can continue to buy the bond month on month with the knowledge that your money is safe. Furthermore, you are unlikely to find any legitimate fixed income security that can pay anything close to 13% for a N5,000 savings and still pay a quarterly coupon.
Thirdly, and this is very unique. The bond is trade-able on the stock exchange which means that if you want your money back before the maturity of the bond, you can simply sell it. You will likely have to trade the bond for less than its face value but at least the window is there for you if you need it.
The downside of this vehicle for savings however is that if you have a savings target of say N50,000, and you save N5,000 monthly, you won’t get your N50,000 cash back at once. Remember that each bond has a maturity date 2 or 3 years in the future so if you save N5,000 every month for 10 months, only the bond purchased in the first month would have matured at the end of 10 months. You will have to wait till the maturity date of the last bond before you can get all your N50,000 back unless of course you sell on the stock market.
Lastly, even though the coupon is guaranteed, the rate is still lower than the current inflation rate which is 17.78% today. So assuming that you buy the bond today and the inflation rate remains unchanged until maturity in 2 or 3 years from now, your investment will be worth 4.7% less.
So to summarize, as a regular savings vehicle, the FGN bond offers a guarantee, an unbeatable interest rate for the amount you are investing, paid quarterly but the unbeatable interest rate doesn’t beat inflation.
Continue reading [url]https://okfiscal.com/how-to-invest-in-nigeria-bonds-system-fgn-bonds/ [/url]
Business / Make Money Now With This Skills by Okfiscal(m): 9:18pm On May 31
People do ask me this question, what do i usually do that make my business productive?
My answer are always straight forward which is learning new skills.
Skills are the expertise or talent needed to execute a task or job. They are different types of skills that can help you succeed in all aspects of life whether its school, work, sport, finance, business or even hobby.
In this article i will share four skills that can easily fetch you money in 2019 and beyond.
Note: These best money making skills I’m about to reveal to you are strictly online, consider the fact that you spend a lot on browsing data, uploading photos and chatting on social media which apparently does not put money into your pocket.
Aren’t you tired of wasting your money for nothing, it’s high time you start making money with your time and resources put together, not as if it’s an easy adventure you’re about to embark on, but with time, courage, resilience, hard-work and consistency you will surely crack the code.
If I can do it, you surely can. I have not promised that you’re going to make millions overnight, but you will surely make enough money to take of care your bills, that I know for sure.
Without much i do, let’s dive in.
Best money making skills for every Nigerian Youth in 2019:

1.Freelancing skills


Freelancing is the process of rendering services online ranging from:

Writing blog contents
Ghost writing
Web and graphic designs
Editing
Software developing etc
Depending on the skill that interests you, majority will prefer writing job, however you will need to be very good in writing to fit in to this category. You could be contacted to write for blogs being that most webmasters are always too busy to write their blog contents.
You will get hired as well be paid, but you will need to prove that you’re good and suitable for it. I will advise you should learn basic on page search engine optimisation strategies (SEO). This will give you an edge over competitors. Your ability to write search engine optimised contents is a huge plus.
Ghost writing is not far from blog contents, just that it might not be published on a blog, it could be for magazines and journals, not excluding blogs. The only difference is that your contract with the contractor ends the moment you deliver the job. It will be published without credit of any kind given to you or being mentioned as the writer.
If you have flare for technology and graphics, web and graphic design could be your ice point, people, big brands and organisations will contact you for a gig, your ability to show a social prove will land you jobs in freelancing.
If reading and editing is your thing, publishers will hunt for you to edit their works. To measure in this category, you must be good in English, ability to identify wrong use of words and grammatical errors is your best and strongest point. These are best money making skills you should equip yourself with.
How to get hired for freelance services
To get hired for any of the above services, you may have to register with freelancing websites, a number of them have been very helpful as they accept and pay Nigerians, kindly check and sign up with;

Upwork

Freelancer

Fiverr

Guru

Iwriter

Toptal

I strongly recommend upwork because its registration process it not that much complicated compare to others are there other benefits attached to writing in upwork.
Millions of people in need of freelance services come to these websites in search of who can render such services on daily basis.

2.Digital marketing

This involves marketing efforts that has to do with the use of electronic device or internet, businesses take advantage of social media, search engines, emails and websites to connect with prospective buyers and customers in the 21 century, it therefore becomes a veritable tool for business promotion.
As an internet marketer you render services and make money in the following ways
You create blog posts and guest posts for clients, who are mostly businesses looking to be heard
You create links for ranking these businesses
Use emails as well teach clients how to promote their business to customers via email marketing
You help clients to generate leads and make sales by creating sales pitch that resonates with their audience
You take advantage of social media to grow your clients business
Brands will be glad to pay you for these services
How to get clients as a digital marketer
Advertise your services on forums like Nairaland.com, start a thread to educate business owners, companies and brands on why they should employ a digital marketer
Advertise on Social media groups
Pitch big brands and businesses with your service
Create a blog most importantly where you will outline your services as well publish engaging posts that will convince your would be clients to patronize you
Your social media pages should describe the services you can render
Join Quora and market your service by answering questions on digital marketing.
Take advantage of the social media and look for where your potential clients are. If you are marketing plan is to business to consumers (B2C) then consider using Facebook, Instagram and youtube while if you into business to business marketing then you linked.

3.Blogging

This should sound so familiar, but comes with difference. Blogging is the practice of publishing information on the internet, usually targeting a section of audience called niche.
The key point in blogging is to selecting the right niche and ability to write quality content into rank high in search engines.


Get your website today at affordable prices.


misconceptions about starting a blog is that you need to be a great writer to be successful. Nothing could be further from the truth. People read blog sites to get a personal perspective on things, so most bloggers write in a very informal and conversational style.
In addition, you don’t need to be an expert on your topic in order to have a successful blog. For example, readers of a cooking blog don’t want to read a textbook from a food scientist, they want to hear the experiences of someone who has actually cooked some real meals, mistakes and all.
To be successful as a blogger there is really just one requirement: a passion for your topic.
At its heart, blogging is about sharing your knowledge with the world. Choosing a topic that you are passionate about makes the process of starting a successful blog so much easier. Writing about more than one topic is totally fine too. As long as you are writing about things that you are genuinely interested in, your passion will shine through and keep your readers interested.
Tips on how to run a blog(website)
build a blog site in about 20 minutes following these steps:

Pick a blog name. Choose something descriptive, something related to the niche you are interested in.
Get your blog online. Register your blog and get hosting.
Get your domain and hosting space with any hosting company present on online, base on my experience i recommend you register with namecheap
Customize your blog using WordPress template it free and its the best for a newbie online
Write & publish your first post. The fun part!, though you can get expert to write you first for go to upwork to get expert to get the work done
Promote your blog. Get more people to read your blog through furums like quora, nairaland, pinterest or do pais ads on Facebook, Instagram and youtube to get your targeted audience.
Make money blogging. Choose from several options to monetize your blog. Once you start ranking on search engines BOOM!! you start making your money for either AdSense or affiliate program.
Continue reading......[url]https://okfiscal.com/4-money-making-skills/ [/url]
Education / Stop Wasting Your Recharge Card Money by Okfiscal(m): 10:55am On May 30
Do you know you can make back money from the money you use to either recharge your phone, pay bills live tv subscription, electricity and others.
I know your questions is HOW
recharge and get paid ia the answer.
On this article will share a deep insight on how to make money from recharging your phone and from paying utilitie bills so stay clam and read the full content to know how it usually works.
Let dive in
RAGP Ltd is a company fully registered with recognized organs in Nigeria, the corporate affairs commission (CAC) and the Nigerian Communications Commission (NCC). They are structured on multi- level marketing to create financial freedom towards reaping all the billions in airtime usage by Nigerians.

More so, Recharge and Get Paid is aimed at providing wealth creation platform for Nigerians, irrespective of their locations and destinations.
Recharge and Get Paid like it sounds is an arrangement whereby you recharge you cellphone via MTN, GLO, AIRTEL, 9MOBILE as well as data subscription and still get paid for it. You can as well carry out other transactions like TV subscription, bill payments etc.
How RAGP works
The RAGP scheme is classified into two sub categories namely:
categories 1. The VTU/the airtime vendor and
2. The referral/matrix aspect. In a knot shell, you will have to understand that this is more like a business with two dynamics which guarantee earnings in different capacities.
You can sell airtime of any network as mentioned above, data, TV subscriptions etc and make money as a VTU agent.
You as well make money by referring friends to join this program, when they do they become your down liners on a 3×10 forced matrix which allows members to earn residual income even when they stopped working.
By implication, it means that each time any of your down liners makes purchase or sales airtime you are guaranteed to earn as referred by the matric.
HOW TO REGISTER ON RAGP
This scheme has 7 different categories of packages as shown below, with different benefits, depending on the plan you can afford, there’s however a room to upgrade as time goes on.
S/N PLAN NAME/PACKAGE REGISTRATION PRICE
1 Executive Platinum Member N100,000
2 Platinum Member N50,000
3 Diamond Member N40,000
4 Gold Member N30,000
5 Silver Member N20,000
6 Bronze Member N10,000
7 Basic Member N5000
Benefits for registered member
Instant registration bonus-20%
Instant direct referral bonus-20%
Instant indirect referral bonus-10%-1%
Leadership bonus N100,000/airtime
VTU bonus from down line recharge
You receive 2% of any amount you recharge and 10% for data subscription
Trip worth N500k to Dubai
Your referral down line earnings extends to their tenth generation.
To register
You join this business by registering with at least N5000 which is the basic plan, depending on what you can afford though.
On joining, you will get access to a VTU wallet, you will use this wallet to sell your airtime, data and subscriptions etc.
Whenever you recharge or carry out any other transaction, you get paid a certain commission, whether is for yourself or for your customers
If you introduce anyone and they get registered, you are entitled to a 20% commission from the company, from the signup fee. There are other mouthwatering benefits associated to this
You get 10% commission as your down liners introduce others.

Continue reading...[url] https://okfiscal.com/how-to-recharge-and-get-paid/ [/url]

1 Like

Nairaland / General / Make Money Back From Your Daily Recharge And Monthly Subscription by Okfiscal(m): 4:09pm On May 29
Do you know you can make back money from the money you use to either recharge your phone, pay bills live tv subscription, electricity and others.
I know your questions is HOW
recharge and get paid ia the answer.
On this article will share a deep insight on how to make money from recharging your phone and from paying utilitie bills so stay clam and read the full content to know how it usually works.
Let dive in
RAGP Ltd is a company fully registered with recognized organs in Nigeria, the corporate affairs commission (CAC) and the Nigerian Communications Commission (NCC). They are structured on multi- level marketing to create financial freedom towards reaping all the billions in airtime usage by Nigerians.

More so, Recharge and Get Paid is aimed at providing wealth creation platform for Nigerians, irrespective of their locations and destinations.
Recharge and Get Paid like it sounds is an arrangement whereby you recharge you cellphone via MTN, GLO, AIRTEL, 9MOBILE as well as data subscription and still get paid for it. You can as well carry out other transactions like TV subscription, bill payments etc.
How RAGP works
The RAGP scheme is classified into two sub categories namely:
categories 1. The VTU/the airtime vendor and
2. The referral/matrix aspect. In a knot shell, you will have to understand that this is more like a business with two dynamics which guarantee earnings in different capacities.
You can sell airtime of any network as mentioned above, data, TV subscriptions etc and make money as a VTU agent.
You as well make money by referring friends to join this program, when they do they become your down liners on a 3×10 forced matrix which allows members to earn residual income even when they stopped working.
By implication, it means that each time any of your down liners makes purchase or sales airtime you are guaranteed to earn as referred by the matric.
HOW TO REGISTER ON RAGP
This scheme has 7 different categories of packages as shown below, with different benefits, depending on the plan you can afford, there’s however a room to upgrade as time goes on.
S/N PLAN NAME/PACKAGE REGISTRATION PRICE
1 Executive Platinum Member N100,000
2 Platinum Member N50,000
3 Diamond Member N40,000
4 Gold Member N30,000
5 Silver Member N20,000
6 Bronze Member N10,000
7 Basic Member N5000
Benefits for registered member
Instant registration bonus-20%
Instant direct referral bonus-20%
Instant indirect referral bonus-10%-1%
Leadership bonus N100,000/airtime
VTU bonus from down line recharge
You receive 2% of any amount you recharge and 10% for data subscription
Trip worth N500k to Dubai
Your referral down line earnings extends to their tenth generation.
To register
You join this business by registering with at least N5000 which is the basic plan, depending on what you can afford though.
On joining, you will get access to a VTU wallet, you will use this wallet to sell your airtime, data and subscriptions etc.
Whenever you recharge or carry out any other transaction, you get paid a certain commission, whether is for yourself or for your customers
If you introduce anyone and they get registered, you are entitled to a 20% commission from the company, from the signup fee. There are other mouthwatering benefits associated to this
You get 10% commission as your down liners introduce others.

Continue reading...[url] https://okfiscal.com/how-to-recharge-and-get-paid/ [/url]
Programming / Recharge And Get Paid by Okfiscal(m): 4:02pm On May 29
Do you know you can make back money from the money you use to either recharge your phone, pay bills live tv subscription, electricity and others.
I know your questions is HOW
recharge and get paid ia the answer.
On this article will share a deep insight on how to make money from recharging your phone and from paying utilitie bills so stay clam and read the full content to know how it usually works.
Let dive in
RAGP Ltd is a company fully registered with recognized organs in Nigeria, the corporate affairs commission (CAC) and the Nigerian Communications Commission (NCC). They are structured on multi- level marketing to create financial freedom towards reaping all the billions in airtime usage by Nigerians.

More so, Recharge and Get Paid is aimed at providing wealth creation platform for Nigerians, irrespective of their locations and destinations.
Recharge and Get Paid like it sounds is an arrangement whereby you recharge you cellphone via MTN, GLO, AIRTEL, 9MOBILE as well as data subscription and still get paid for it. You can as well carry out other transactions like TV subscription, bill payments etc.
How RAGP works
The RAGP scheme is classified into two sub categories namely:
categories 1. The VTU/the airtime vendor and
2. The referral/matrix aspect. In a knot shell, you will have to understand that this is more like a business with two dynamics which guarantee earnings in different capacities.
You can sell airtime of any network as mentioned above, data, TV subscriptions etc and make money as a VTU agent.
You as well make money by referring friends to join this program, when they do they become your down liners on a 3×10 forced matrix which allows members to earn residual income even when they stopped working.
By implication, it means that each time any of your down liners makes purchase or sales airtime you are guaranteed to earn as referred by the matric.
HOW TO REGISTER ON RAGP
This scheme has 7 different categories of packages as shown below, with different benefits, depending on the plan you can afford, there’s however a room to upgrade as time goes on.
S/N PLAN NAME/PACKAGE REGISTRATION PRICE
1 Executive Platinum Member N100,000
2 Platinum Member N50,000
3 Diamond Member N40,000
4 Gold Member N30,000
5 Silver Member N20,000
6 Bronze Member N10,000
7 Basic Member N5000
Benefits for registered member
Instant registration bonus-20%
Instant direct referral bonus-20%
Instant indirect referral bonus-10%-1%
Leadership bonus N100,000/airtime
VTU bonus from down line recharge
You receive 2% of any amount you recharge and 10% for data subscription
Trip worth N500k to Dubai
Your referral down line earnings extends to their tenth generation.
To register
You join this business by registering with at least N5000 which is the basic plan, depending on what you can afford though.
On joining, you will get access to a VTU wallet, you will use this wallet to sell your airtime, data and subscriptions etc.
Whenever you recharge or carry out any other transaction, you get paid a certain commission, whether is for yourself or for your customers
If you introduce anyone and they get registered, you are entitled to a 20% commission from the company, from the signup fee. There are other mouthwatering benefits associated to this
You get 10% commission as your down liners introduce others.

Continue reading.... https://okfiscal.com/how-to-recharge-and-get-paid
Investment / 4 Money Making Skills You Can Learn Today And Start Making Bucks by Okfiscal(m): 1:17pm On May 28
People do ask me this question, what do i usually do that make my business productive?
My answer are always straight forward which is learning new skills.
Skills are the expertise or talent needed to execute a task or job. They are different types of skills that can help you succeed in all aspects of life whether its school, work, sport, finance, business or even hobby.
In this article i will share four skills that can easily fetch you money in 2019 and beyond.
Note: These best money making skills I’m about to reveal to you are strictly online, consider the fact that you spend a lot on browsing data, uploading photos and chatting on social media which apparently does not put money into your pocket.
Aren’t you tired of wasting your money for nothing, it’s high time you start making money with your time and resources put together, not as if it’s an easy adventure you’re about to embark on, but with time, courage, resilience, hard-work and consistency you will surely crack the code.
If I can do it, you surely can. I have not promised that you’re going to make millions overnight, but you will surely make enough money to take of care your bills, that I know for sure.
Without much i do, let’s dive in.
Best money making skills for every Nigerian Youth in 2019:

1.Freelancing skills


Freelancing is the process of rendering services online ranging from:

Writing blog contents
Ghost writing
Web and graphic designs
Editing
Software developing etc
Depending on the skill that interests you, majority will prefer writing job, however you will need to be very good in writing to fit in to this category. You could be contacted to write for blogs being that most webmasters are always too busy to write their blog contents.
You will get hired as well be paid, but you will need to prove that you’re good and suitable for it. I will advise you should learn basic on page search engine optimisation strategies (SEO). This will give you an edge over competitors. Your ability to write search engine optimised contents is a huge plus.
Ghost writing is not far from blog contents, just that it might not be published on a blog, it could be for magazines and journals, not excluding blogs. The only difference is that your contract with the contractor ends the moment you deliver the job. It will be published without credit of any kind given to you or being mentioned as the writer.
If you have flare for technology and graphics, web and graphic design could be your ice point, people, big brands and organisations will contact you for a gig, your ability to show a social prove will land you jobs in freelancing.
If reading and editing is your thing, publishers will hunt for you to edit their works. To measure in this category, you must be good in English, ability to identify wrong use of words and grammatical errors is your best and strongest point. These are best money making skills you should equip yourself with.
How to get hired for freelance services
To get hired for any of the above services, you may have to register with freelancing websites, a number of them have been very helpful as they accept and pay Nigerians, kindly check and sign up with;

Upwork

Freelancer

Fiverr

Guru

Iwriter

Toptal

I strongly recommend upwork because its registration process it not that much complicated compare to others are there other benefits attached to writing in upwork.
Millions of people in need of freelance services come to these websites in search of who can render such services on daily basis.

2.Digital marketing

This involves marketing efforts that has to do with the use of electronic device or internet, businesses take advantage of social media, search engines, emails and websites to connect with prospective buyers and customers in the 21 century, it therefore becomes a veritable tool for business promotion.
As an internet marketer you render services and make money in the following ways
You create blog posts and guest posts for clients, who are mostly businesses looking to be heard
You create links for ranking these businesses
Use emails as well teach clients how to promote their business to customers via email marketing
You help clients to generate leads and make sales by creating sales pitch that resonates with their audience
You take advantage of social media to grow your clients business
Brands will be glad to pay you for these services
How to get clients as a digital marketer
Advertise your services on forums like Nairaland.com, start a thread to educate business owners, companies and brands on why they should employ a digital marketer
Advertise on Social media groups
Pitch big brands and businesses with your service
Create a blog most importantly where you will outline your services as well publish engaging posts that will convince your would be clients to patronize you
Your social media pages should describe the services you can render
Join Quora and market your service by answering questions on digital marketing.
Take advantage of the social media and look for where your potential clients are. If you are marketing plan is to business to consumers (B2C) then consider using Facebook, Instagram and youtube while if you into business to business marketing then you linked.

3.Blogging

This should sound so familiar, but comes with difference. Blogging is the practice of publishing information on the internet, usually targeting a section of audience called niche.
The key point in blogging is to selecting the right niche and ability to write quality content into rank high in search engines.


Get your website today at affordable prices.


misconceptions about starting a blog is that you need to be a great writer to be successful. Nothing could be further from the truth. People read blog sites to get a personal perspective on things, so most bloggers write in a very informal and conversational style.
In addition, you don’t need to be an expert on your topic in order to have a successful blog. For example, readers of a cooking blog don’t want to read a textbook from a food scientist, they want to hear the experiences of someone who has actually cooked some real meals, mistakes and all.
To be successful as a blogger there is really just one requirement: a passion for your topic.
At its heart, blogging is about sharing your knowledge with the world. Choosing a topic that you are passionate about makes the process of starting a successful blog so much easier. Writing about more than one topic is totally fine too. As long as you are writing about things that you are genuinely interested in, your passion will shine through and keep your readers interested.
Tips on how to run a blog(website)
build a blog site in about 20 minutes following these steps:

Pick a blog name. Choose something descriptive, something related to the niche you are interested in.
Get your blog online. Register your blog and get hosting.
Get your domain and hosting space with any hosting company present on online, base on my experience i recommend you register with namecheap
Customize your blog using WordPress template it free and its the best for a newbie online
Write & publish your first post. The fun part!, though you can get expert to write you first for go to upwork to get expert to get the work done
Promote your blog. Get more people to read your blog through furums like quora, nairaland, pinterest or do pais ads on Facebook, Instagram and youtube to get your targeted audience.
Make money blogging. Choose from several options to monetize your blog. Once you start ranking on search engines BOOM!! you start making your money for either AdSense or affiliate program.
Continue reading......[url]https://okfiscal.com/4-money-making-skills/ [/url]
Investment / Index Funds Vs Mutual Funds by Okfiscal(m): 1:49am On May 25
When you look at recent history, actively managed funds have performed poorly compared to index funds. According to Morningstar, two-thirds of large-cap growth stock mutual funds underperformed the index, and nearly three-quarters of large-cap blended funds failed to match their benchmark. The same was true in 2014, when 86% of active large-cap fund managers fell short of their benchmarks.
In this article we look at (almost) if not everything about an index fund and mutual funds.
Hint to what we cover in this post;
•What is an index fund
•How an index fund works
•Type of index fund
•Why you should invest in an index fund
•Advantages and disadvantages of an index fund
•Statistical example of an index fund in real-world
•What is a mutual fund
•How a mutual fund work
•Type of mutual fund
•Advantages and disadvantages of a mutual fund
•Statistical examples of a mutual fund to real-world
Then we will move further to this discuss the differences between index funds and mutual funds.
So don’t leave this page in a hurry!!!
Now, let’s start the discussion
What is an index funds?
An index fund is a mutual fund or ETF whose portfolio is designed to replicate a certain market index.such as the Standard & Poor’s 500 Index (S&P 500).
Index funds are generally considered ideal core portfolio holdings for retirement accounts, such as individual retirement accounts (IRAs) and 401(k) accounts. Legendary investor Warren Buffett has recommended index funds as a haven for savings for the sunset years of life. Rather than picking out individual stocks for investment, he has said, it makes more sense for the average investor to buy all of the S&P 500 companies at the low cost an index fund offers.
An index mutual fund is said to provide broad market exposure, low operating expenses and low portfolio turnover. These funds follow their benchmark index no matter the state of the markets.
How an index funds works
An index fund is a portfolio of stocks or bonds designed to mimic the composition and performance of a financial market index.The idea is that by mimicking the profile of the index—the stock market as a whole, or a broad segment of it—the fund will match its performance as well.
There is an index, and an index fund, for nearly every financial market in existence. In the U.S, the most popular index funds track the S&P 500. But several other indexes are widely used as well, including:
the Dow Jones Industrial Average (DJIA) consisting of 30 large-cap companies
the Wilshire 5000 Total Market Index that is the largest U.S. equities index
the MSCI EAFE consisting of foreign stocks from Europe, Australasia, and the Far East
the Barclays Capital U.S. Aggregate Bond Index following the total bond market.
For example, the popular Dow Jones Industrial Average (DJIA) is an index that consists of 30 large U.S. stocks, weighted by share price. So an index fund that tracks the DJIA would be expected to own all 30 stocks in approximately the same proportions that they make up in the index.
Types of index funds
there are different tyes of stock index funds which includes;

1.Broad market index funds: These invest in an index designed to track the performance of the entire market, or a subset of the market such as large-cap stocks. The Dow Jones Industrial Average, S&P 500, and Russell 2000 indices, are examples.
2.Global/International index funds:These are designed to provide exposure to stocks all over the world. Global indices include stocks from all over the world, while international indices exclude U.S.-based companies.
Sector-specific index funds : These are designed to track a sector’s performance. For example, the Financial Select Sector SPDR ETF (NYSEMKT: XLF) is designed to mirror the performance of the banking, insurance, and real-estate industries.
Why invest in index funds?
Index funds have become quite popular, and for good reason. First, because index funds don’t require much effort from managers, they typically have lower fees than actively managed funds. It’s not uncommon to find index funds with expense ratios in the 0.05%-0.07% range, while actively managed funds are generally in the 1%-2% ballpark.
Additionally, index funds allow investors to harness the long-term potential of the stock market without the guesswork and research involved with choosing individual stocks. In fact, there are many economists who believe in the efficient market hypothesis — which says that it’s not possible to beat the market consistently, so the best way to invest is to simply buy all stocks. An index fund allows investors to do that.

Advantages of index funds:

Lower Costs

One primary advantage that index funds possess over their actively managed counterparts is the lower management expense ratio. A fund’s expense ratio—also known as the management expense ratio—includes all of the operating expenses such as the payment to advisors and managers, transaction fees, taxes, and accounting fees.

Since the index fund managers are simply replicating the performance of a benchmark index, they do not need the services of research analysts and others that assist in the stock-selection process. Managers of index funds trade holdings less often incurring fewer transaction fees and commissions. In contrast, actively managed funds have bigger staffs and conduct more transactions, driving up the cost of doing business.

The extra costs of fund management are reflected in the fund’s expense ratio and get passed on to shareholders. As a result, cheap index funds often cost less than a percent—0.2%-0.5% is typical—compared to the much higher fees actively managed funds command—typically 1% to 2.5%.

Other pros are;

• Ultimate in diversification

• Low expense ratios

• Strong longterm returns

• Ideal for passive, buy-and-hold investors.

Disadvantages of index funds

• Vulnerable to market swings, crashes

• Lack of flexibility

• Limited gains

Statistical example of an index fund in real world
Index funds have been around since the 1970s. The popularity of passive investing, the appeal of low fees, and a long-running bull market have combined to send them soaring in the 2010s. For 2018, according to Morningstar Research, investors poured more than US$458 billion into index funds across all asset classes. For the same period, actively managed funds experienced $301 billion in outflows.
The one fund that started it all, founded by Vanguard chairman John Bogle in 1976, remains one of the best for its overall long-term performance and low cost. The Vanguard 500 Index Fund has tracked the S&P 500 faithfully, in composition and performance. It posts a one-year return of 9.46%, vs. the index’s 9.5%, as of March 2019, for example. For its Admiral Shares, the expense ratio is 0.04%, and its minimum investment is $3,000.

PART 2
What is a mutual funds?
A Mutual Funds is an investment vehicle made up of a pool of funds collected from numerous investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual Funds are operated by professional fund managers, who invest the fund’s capital and attempt to produce capital gains and income for the investors.
Mutual funds give small or individual investors access to professionally managed portfolios of equities, bonds and other securities. Each shareholder, therefore, participates proportionally in the gains or losses of the fund. Mutual funds invest in a vast number of securities, and performance is usually tracked as the change in the total market cap of the fund—derived by the aggregating performance of the underlying investments.
How a mutual fund works
[url]continue reading https://okfiscal.com/how-to-differentiate-index-funds-from-mutual-funds/[/url]
Business / Everything You Have To Know About Index Funds Against Mutual Funds by Okfiscal(m): 1:39am On May 25
When you look at recent history, actively managed funds have performed poorly compared to index funds. According to Morningstar, two-thirds of large-cap growth stock mutual funds underperformed the index, and nearly three-quarters of large-cap blended funds failed to match their benchmark. The same was true in 2014, when 86% of active large-cap fund managers fell short of their benchmarks.
In this article we look at (almost) if not everything about an index fund and mutual funds.
Hint to what we cover in this post;
•What is an index fund
•How an index fund works
•Type of index fund
•Why you should invest in an index fund
•Advantages and disadvantages of an index fund
•Statistical example of an index fund in real-world
•What is a mutual fund
•How a mutual fund work
•Type of mutual fund
•Advantages and disadvantages of a mutual fund
•Statistical examples of a mutual fund to real-world
Then we will move further to this discuss the differences between index funds and mutual funds.
So don’t leave this page in a hurry!!!
Now, let’s start the discussion
What is an index funds?
An index fund is a mutual fund or ETF whose portfolio is designed to replicate a certain market index.such as the Standard & Poor’s 500 Index (S&P 500).
Index funds are generally considered ideal core portfolio holdings for retirement accounts, such as individual retirement accounts (IRAs) and 401(k) accounts. Legendary investor Warren Buffett has recommended index funds as a haven for savings for the sunset years of life. Rather than picking out individual stocks for investment, he has said, it makes more sense for the average investor to buy all of the S&P 500 companies at the low cost an index fund offers.
An index mutual fund is said to provide broad market exposure, low operating expenses and low portfolio turnover. These funds follow their benchmark index no matter the state of the markets.
How an index funds works
An index fund is a portfolio of stocks or bonds designed to mimic the composition and performance of a financial market index.The idea is that by mimicking the profile of the index—the stock market as a whole, or a broad segment of it—the fund will match its performance as well.
There is an index, and an index fund, for nearly every financial market in existence. In the U.S, the most popular index funds track the S&P 500. But several other indexes are widely used as well, including:
the Dow Jones Industrial Average (DJIA) consisting of 30 large-cap companies
the Wilshire 5000 Total Market Index that is the largest U.S. equities index
the MSCI EAFE consisting of foreign stocks from Europe, Australasia, and the Far East
the Barclays Capital U.S. Aggregate Bond Index following the total bond market.
For example, the popular Dow Jones Industrial Average (DJIA) is an index that consists of 30 large U.S. stocks, weighted by share price. So an index fund that tracks the DJIA would be expected to own all 30 stocks in approximately the same proportions that they make up in the index.
Types of index funds
there are different tyes of stock index funds which includes;

1.Broad market index funds: These invest in an index designed to track the performance of the entire market, or a subset of the market such as large-cap stocks. The Dow Jones Industrial Average, S&P 500, and Russell 2000 indices, are examples.
2.Global/International index funds:These are designed to provide exposure to stocks all over the world. Global indices include stocks from all over the world, while international indices exclude U.S.-based companies.
Sector-specific index funds : These are designed to track a sector’s performance. For example, the Financial Select Sector SPDR ETF (NYSEMKT: XLF) is designed to mirror the performance of the banking, insurance, and real-estate industries.
Why invest in index funds?
Index funds have become quite popular, and for good reason. First, because index funds don’t require much effort from managers, they typically have lower fees than actively managed funds. It’s not uncommon to find index funds with expense ratios in the 0.05%-0.07% range, while actively managed funds are generally in the 1%-2% ballpark.
Additionally, index funds allow investors to harness the long-term potential of the stock market without the guesswork and research involved with choosing individual stocks. In fact, there are many economists who believe in the efficient market hypothesis — which says that it’s not possible to beat the market consistently, so the best way to invest is to simply buy all stocks. An index fund allows investors to do that.

Advantages of index funds:

Lower Costs

One primary advantage that index funds possess over their actively managed counterparts is the lower management expense ratio. A fund’s expense ratio—also known as the management expense ratio—includes all of the operating expenses such as the payment to advisors and managers, transaction fees, taxes, and accounting fees.

Since the index fund managers are simply replicating the performance of a benchmark index, they do not need the services of research analysts and others that assist in the stock-selection process. Managers of index funds trade holdings less often incurring fewer transaction fees and commissions. In contrast, actively managed funds have bigger staffs and conduct more transactions, driving up the cost of doing business.

The extra costs of fund management are reflected in the fund’s expense ratio and get passed on to shareholders. As a result, cheap index funds often cost less than a percent—0.2%-0.5% is typical—compared to the much higher fees actively managed funds command—typically 1% to 2.5%.

Other pros are;

• Ultimate in diversification

• Low expense ratios

• Strong longterm returns

• Ideal for passive, buy-and-hold investors.

Disadvantages of index funds

• Vulnerable to market swings, crashes

• Lack of flexibility

• Limited gains

Statistical example of an index fund in real world
Index funds have been around since the 1970s. The popularity of passive investing, the appeal of low fees, and a long-running bull market have combined to send them soaring in the 2010s. For 2018, according to Morningstar Research, investors poured more than US$458 billion into index funds across all asset classes. For the same period, actively managed funds experienced $301 billion in outflows.
The one fund that started it all, founded by Vanguard chairman John Bogle in 1976, remains one of the best for its overall long-term performance and low cost. The Vanguard 500 Index Fund has tracked the S&P 500 faithfully, in composition and performance. It posts a one-year return of 9.46%, vs. the index’s 9.5%, as of March 2019, for example. For its Admiral Shares, the expense ratio is 0.04%, and its minimum investment is $3,000.

PART 2
What is a mutual funds?
A Mutual Funds is an investment vehicle made up of a pool of funds collected from numerous investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual Funds are operated by professional fund managers, who invest the fund’s capital and attempt to produce capital gains and income for the investors.
Mutual funds give small or individual investors access to professionally managed portfolios of equities, bonds and other securities. Each shareholder, therefore, participates proportionally in the gains or losses of the fund. Mutual funds invest in a vast number of securities, and performance is usually tracked as the change in the total market cap of the fund—derived by the aggregating performance of the underlying investments.
How a mutual fund works
A mutual fund is both an investment and an actual company. This dual nature may seem strange, but it is no different from how a share of AAPL is a representation of Apple, Inc. When an investor buys Apple stock, he is buying part ownership of the company and its assets. Similarly, a mutual fund investor is buying part ownership of the mutual fund company and its assets. The difference is that Apple is in the business of making smartphones and tablets, while a mutual fund company is in the business of making investments.
If a mutual fund is a virtual company, its CEO is the fund manager , sometimes called its
investment adviser . The fund manager is hired by a board of directors and is legally obligated to work in the best interest of mutual fund shareholders. Most fund managers are also owners of the fund.
There are very few other employees in a mutual fund company. The investment adviser or fund manager may employ some analysts to help pick investments or perform market research. A fund accountant is kept on staff to calculate the fund’s NAV, the daily value of the portfolio that determines if share prices go up or down. Mutual funds need to have a
compliance officer or two, and probably an attorney, to keep up with government regulations.
Most mutual funds are part of a much larger investment company; the biggest have hundreds of separate mutual funds. Some of these fund companies are names familiar to the general public, such as Fidelity Investments, the Vanguard Group, T. Rowe Price, and Oppenheimer Funds.

Types of mutual funds:
Mutual funds are divided into various categories which is targeted to the kind of securities portfolio and return someone is looking for.These includes:
Equity Funds
The largest category is that of equity or stock funds. As the name implies, this sort of fund invests principally in stocks. Within this group is various sub-categories. Some equity funds are named for the size of the companies they invest in small-, mid- or large-cap. Others are named by their investment approach: aggressive growth, income-oriented, value, and others. Equity funds are also categorized by whether they invest in domestic (U.S.) stocks or foreign equities.
Fixed-Income Funds
Another big group is the fixed income category. A fixed income mutual fund focuses on investments that pay a set rate of return, such as government bonds, corporate bonds, or other debt instruments. The idea is that the fund portfolio generates interest income, which then passes on to shareholders.
Other types of mutual funds are:
• Balanced funds
• Money Market funds
• Sector funds
• Target-date funds
• Alternative funds
• Smart-beta funds
Advantages of mutual funds
There are a variety of reasons that mutual funds have been the retail investor’s vehicle of choice for decades. The overwhelming majority of money in employer-sponsored retirement plans goes into mutual funds.
Diversification – Mutual Funds spread their holdings across various investment vehicles, reducing the effect any single security or class of securities has on the overall portfolio. Because mutual funds contain hundreds or thousands of securities, investors are less affected if one security underperforms.
Professional Management – Mutual Fund accounts are managed by qualified professionals. These professionals invest only after careful analysis of the performance and prospects of different securities. It is a continuous process that takes time and expertise which will add value to your investment.
Regulations – Mutual Funds are required to be registered with the Securities and Exchange Commission. They are obliged to follow strict regulations designed to protect investors.
Affordability – As a small investor, you may find that it is not possible to buy shares of larger corporations. With Mutual Funds
small investors can get started because of the minimal investment requirements.
Liquidity – With open-end funds, you can re​deem all or part of your investment any time you wish and receive the current value of the shares. Moreover, the process is standardized, making it swift and efficient.
Transparency – As a unit holder, you are provided with regular updates, for example daily NAVs, bid and offer prices as well as information on the fund’s holdings and the fund manager’s strategy.
Disadvantages of mutual funds
Just like words and opposite- good and bad. Aside factors like Liquidity, diversification, and professional management, all these factors make mutual funds attractive options for a younger, novice, and other individual investors who don’t want to actively manage their money. However, no asset is perfect, and mutual funds have drawbacks too which are:
Fluctuating Returns
Like many other investments without a guaranteed return, there is always the possibility that the value of your mutual fund will
depreciate . Equity mutual funds experience price fluctuations, along with the stocks that make up the fund. The Federal Deposit Insurance Corporation (FDIC) does not back up mutual fund investments, and there is no guarantee of performance with any fund. Of course, almost every investment carries risk. It is especially important for investors in money market funds to know that, unlike their bank counterparts, these will not be insured by the FDIC.
Heavy Cash Supplies
Mutual funds pool money from thousands of investors, so every day people are putting money into the fund as well as withdrawing it. To maintain the capacity to accommodate withdrawals funds typically have to keep a large portion of their portfolios in cash. Having ample cash is excellent for liquidity, but money is sitting around as cash and not working for you and thus is not very advantageous.
High Costs
Mutual funds provide investors with professional management, but it comes at a cost—those expense ratios mentioned earlier. These fees reduce the fund’s overall payout, and they’re assessed to mutual fund investors regardless of the performance of the fund. As you can imagine, in years when the fund doesn’t make money, these fees only magnify losses.
Diworsification
Diworsification—a play on words—is an investment or portfolio strategy. Many mutual fund investors tend to overcomplicate matters. That is, they acquire too many funds that are highly related and, as a result, don’t get the risk-reducing benefits of diversification. These investors may have made their portfolio more exposed; a syndrome called diworsification. At the other extreme, just because you own mutual funds doesn’t mean you are automatically diversified. For example, a fund that invests only in a particular industry sector or region is still relatively risky.
Other disadvantages of mutual funds are:
• Lack of transparency
• Evaluating funds.

Statistical examples of mutual funds on real word;

One of the most famous mutual funds in the investment universe is Fidelity Investments’ Magellan Fund (FMAGX). Established in 1963 the fund had an investment objective of capital appreciation via investment in common stocks. Fidelity founder Edward Johnson originally managed it. The fund’s glory days were between 1977 and 1990 when Peter Lynch served as its portfolio manager. Under Lynch’s tenure, Magellan regularly posted 29% annual returns, almost double that of the S&P 500. Both the fund and Lynch became household words.
Even after Lynch left, Fidelity’s performance continued strong, and assets under management (AUM) grew to nearly $110 billion in 2000, making it the largest fund in the world . By 1997, the fund had become so large that Fidelity closed it to new investors, and would not reopen it until 2008.
As of April 2019, Fidelity Magellan has over US$16 billion in assets and is managed by Jeffrey Feingold since 2011. The fund’s performance has pretty much tracked or slightly surpassed that of the S&P 500.
Education / Re: Five Banks In Nigeria With High Savings Interest Rate by Okfiscal(m): 12:51am On May 25
Thanks Dave
You might get more interesting articles @ https://okfiscal.com
Education / Five Banks In Nigeria With High Savings Interest Rate by Okfiscal(m): 5:02pm On May 24
[url][/url]Have you heard the saying that business is the ultimate school of study.
Information is power and it enlighten the mediocre. Today I will share an important information on five 5 bank you can make high interest rate from your savings.
When it comes to savings, you should consider the best options offered by Nigerian banks.you have to understand what savings account is and how it can help you earn a great interest on your money. There are many different types of accounts you can use:

Call deposit
Fixed deposit
High-interest deposit.
It is smart to choose the high-interest savings option that pays interest to you. Such accounts offer the flexibility you’ll love. You can perform the following actions without worrying about losing your interest:

Withdraw cash when you need it
Make online payments
Enjoy different services that do not affect your savings account.
Savings accounts allow bank customers keep their money in the bank and earn several percents per year on top of the original amount.
Factor to examine when looking for high interest savings account
If this is your first time looking for a high-interest savings account, skipping through these options can be dangerous. When you choose a bank, you’ll want to know a few things:

How much you have to deposit in your account.
The startup cost for opening an account
How much APY[annul percentage per year] the bank is paying
Any monthly maintenance fees
The minimum you need to keep in your account to get the best rates
How long it will take to transfer your funds to another account
What to expect from customer service
find banks with high interest rate in Nigeria.
Note: The interest rates these banks are paying is as of the time of this writing. Please search for “[bank name]” + “savings interest rate” to get up-to-date rates or contact the bank you are interested in and make updated enquires
Although, Savings account offers you interest rates on your deposits with 2% being the minimum interest rates and 6% the highest interest rate a bank offers.
Now let look at 5 banks that offers high interest rates to their customers:
1.Diamond HIDA 2-6%
This financial institution has an interesting proposition called High Interest Deposit Account. If you planning to save for a special project like a wedding, buying a house or investing in a business or are you simply looking to keep away some funds for rainy days? HIDA is a special deposit account that will perfectly suit your goals and at the same time offer full credit interest on your savings. Simply put, the more you save, the more interest you earn on your deposits.For those who have not mastered the art of saving money, Diamond HIDA is a great way to start because the account does not come with a debit card so you will not be tempted to make unnecessary withdrawals. You can also enjoy 2 free withdrawals and still maintain credit interest on available balance. Below are a breakdown of interest rate earned on available balance
Less than N 100,000: 2% interest rate per Annum.
N 100,000 and N 999,999: 4.5% per annum
N 1,000,000 and N 4,999,999:5% per annum
N 5 million and above: 6.0% per annum
2.Savings Account DiamondXtra
The HIDA option offered by Diamond bank is not suitable for all Nigerians. Those of you who need a savings account with a small amount of money at the beginning can look at the DiamondXtra savings account that starts with just 1,000 Naira.

As one of the top banks in Nigeria, Diamond bank allows all interested individuals to earn interest on their saving accounts. Here are the main benefits of this offer:
An account can be opened with only 1,000 Naira on it.
There is no minimum amount you’ll have to keep on the account.
The card you’ll get is free to use at all local ATMs.
You are allowed making 3 free withdrawals within a month.
One odd fact about diamondxtra, you loose your interest onces you make 4 withdrawals in the same month

3.Zenith Bank Account
Depending on your expectations or what suits your needs, Zenith bank offers savings account packages to suit your goals

Individual savings account: if you have a specific goal to meet up with or simply want to start setting money aside, this account is recommended for you. No money is required to open this account and you are offered interests on your fund whatever your goal for opening this account may be. You get emails or SMS alerts or even both, a debit card, master card or visa card
EazySaveClassic Account: this is specially designed for individuals with minimal forms of identification/ it has a zero account opening balance, maximum single deposit N 50,000 maximum cumulative account balance N300,000
4.GTMax Savings Account 2-3%
GTbank offers an option called GTMax. It is an account that allows Nigerians save their money and earn some interest that depends on the amount of their current funds. This savings possibility is not available to everyone because there is a minimum amount required for opening and maintaining your account.
GTMax offers these interest rates per year:
2 percent – account is opened with at least 150,000 Naira
2.75 percent – you need the minimum of 500,000 Naira to earn this interest
3 percent – for people who have at least 1 million Naira to save
All three options require a minimum balance of 100,000-500,000 Naira depending on the account type and percentage earned per annum.
The account can be interesting to businesspersons and companies who need to save money and multiply them. The good thing is that the interest can be earned as long as the minimum balance is preserved. Besides, you are allowed making only up to 5 withdrawals per month, otherwise, you’ll have to pay the fee of 2 Naira per each transaction made during the month.

5.Savings at FCMB premiun account -3.3%
Do you prefer using the First City Monument Bank? It also has a savings option for customers who need to save their money for something important or make the funds working and earning some interest. Learn more about the Premium Savings option offered here.
While the financial organization doesn’t require you to keep a minimum amount on your account you still have to add at least 100,000 Naira in order to open your savings account. Still, if you wish to earn the biggest annual interest rate (it is 3.3 percent) you need to make sure your average balance per day is at least 100,000 Naira. If the balance becomes lower than, your earnings will reduce significantly.
Just like many similar savings options, you can’t make more than 3 withdrawals per month or you will lose your monthly interest earning.
In conclusion, it is smart to save in high interest savings account because your savings capacity and interest generated determines the level of your success.[url] https://okfiscal.com/5-banks-in-nigeria-with-high-savings-interest-rate[/url]

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Business / 5 Bank In Nigeria With High Savings Interest Rates Account by Okfiscal(m): 4:13pm On May 24
Now that you’ ve save some emergency fund, but the rate your locate bank is paying is too small – then you need a high savings interest account.
When it comes to savings, you should consider the best options offered by Nigerian banks.you have to understand what savings account is and how it can help you earn a great interest on your money. There are many different types of accounts you can use:

•Call deposit
•Fixed deposit
•High-interest deposit.
It is smart to choose the high-interest savings option that pays interest to you. Such accounts offer the flexibility you’ll love. You can perform the following actions without worrying about losing your interest:

•Withdraw cash when you need it
•Make online payments
•Enjoy different services that do not affect your savings account.
Savings accounts allow bank customers keep their money in the bank and earn several percents per year on top of the original amount.
Factor to examine when looking for high interest savings account
If this is your first time looking for a high-interest savings account, skipping through these options can be dangerous. When you choose a bank, you’ll want to know a few things:

•How much you have to deposit in your account.
•The startup cost for opening an account
•How much APY[annul percentage per year] the bank is paying
•Any monthly maintenance fees
•The minimum you need to keep in your account to get the best rates
•How long it will take to transfer your funds to another account
•What to expect from customer service
find banks with high interest rate in Nigeria.
Note: The interest rates these banks are paying is as of the time of this writing. Please search for “[bank name]” + “savings interest rate” to get up-to-date rates or contact the bank you are interested in and make updated enquires
Although, Savings account offers you interest rates on your deposits with 2% being the minimum interest rates and 6% the highest interest rate a bank offers.
Now let look at 5 banks that offers high interest rates to their customers:
1.Diamond HIDA 2-6%
This financial institution has an interesting proposition called High Interest Deposit Account. If you planning to save for a special project like a wedding, buying a house or investing in a business or are you simply looking to keep away some funds for rainy days? HIDA is a special deposit account that will perfectly suit your goals and at the same time offer full credit interest on your savings. Simply put, the more you save, the more interest you earn on your deposits.For those who have not mastered the art of saving money, Diamond HIDA is a great way to start because the account does not come with a debit card so you will not be tempted to make unnecessary withdrawals. You can also enjoy 2 free withdrawals and still maintain credit interest on available balance. Below are a breakdown of interest rate earned on available balance
Less than N 100,000: 2% interest rate per Annum.
N 100,000 and N 999,999: 4.5% per annum
N 1,000,000 and N 4,999,999:5% per annum
N 5 million and above: 6.0% per annum
2[b].Savings Account DiamondXtra[/b]
The HIDA option offered by Diamond bank is not suitable for all Nigerians. Those of you who need a savings account with a small amount of money at the beginning can look at the DiamondXtra savings account that starts with just 1,000 Naira.

As one of the top banks in Nigeria, Diamond bank allows all interested individuals to earn interest on their saving accounts. Here are the main benefits of this offer:
An account can be opened with only 1,000 Naira on it.
There is no minimum amount you’ll have to keep on the account.
The card you’ll get is free to use at all local ATMs.
You are allowed making 3 free withdrawals within a month.
One odd fact about diamondxtra, you loose your interest onces you make 4 withdrawals in the same month.
Continue reading https://okfiscal.com/5-banks-in-nigeria-with-high-savings-interest-rate/
Investment / How To Build Emergency Fund For Your Business by Okfiscal(m): 3:48am On May 22
When it comes to personal finance, anything can happen, good or bad. Which is why having financial goals and plans for the future is necessary and of such plan is to have an emergency saving for uncertainties and unforseen events.
There are some things we don’t bargain for in life that just happen, this is why it is very necessary to have an emergency fund.
In this article i will be focusing on how to build emergency fund savings which can be used to resolve events that happens unaware and unexpected
What is emergency fund?
An emergency fund is an account for funds set aside in case of the event of a personal financial dilemma, such as the loss of a job, a debilitating illness, or a major repair to your home. The purpose of the fund is to improve financial security by creating a safety net of funds that can be used to meet emergency expenses as well as reduce the need to draw from high-interest debt options.
This savings are majorly kept to tackle unexpected events which demands spending of money.
Note:No financial institutions such as bank, co operative and other financial institute have account labeled or tag emergency funds. Rather, the task falls on an individual to set up this type of account and earmark it as capital reserved for personal financial crises.
According to most financial planner, an emergency fund should contain enough money to cover at least three months your income.
How to build emergency fund
Below are step to build an emergency fund savings the major factor is starting early, if you start building your emergency fund early in no distance time you will build a comfortable savings against any emergencies that might rise later in life.
The step to build emergency fund are not complex. Here some step to been taken in building emergency fund savings:
1. Understand your income vs your expenses.
Take your time to analyze how much you make monthly and how much spend on monthly basis. Having understanding of these will help determine how much really need emergency fund and the amount you can put on its monthly.
This amount should be calculated keeping an eventual goal for savings that will contribute to your fund. As you move up (or down) through your career, you can revise this figure. Once the fund is built up to the level you need, invest extra savings for the long term or for other goals, such as buying a new apartment.
2. Set a target
Ideally, an emergency fund should have an accumulated sum of at least four to six months of a person’s monthly income to make fund easily accessible. Set a target for yourself to achieve this goal.
Decide how long it will take you to get to your target based on how you save monthly.
Also, come up with a plan to commence your saving process. Having a plan and setting goals is a perfect combination to have a functioning emergency fund.
For example, A married couple who earns $108,000 annually after taxes should set aside a readily accessible minimum of $27,000 (three months) to $54,000 (six months) to address unexpected financial surprises. The funds should be highly
liquid, remaining in savings accounts. These vehicles allow quick access to cash for satisfying household expenses during an emergency situation
3. Create account where you can easily access your fund:
A savings account is the best place to put an emergency fund. So you won’t have any problem when you need the money.
You need to also make saving into an emergency savings account automatic. Plan regular payments every month from your salary account to your emergency fund, using your bank’s automatic transfer payment plans. It makes it easier to save for emergency when you actually forget to do so at the end of every month.
These are simple ways you should use to start building an emergency fund to resolve financial surprises at anytime anywhere.
Key note;
An emergency fund is a financial security for future mishaps and/or unexpected expenses.
Financial planners recommend that emergency funds should typically have 3 to 6 months’ worth of income in very liquid form so that it is instantly accessible.
Use tax refunds and other windfalls to build up your fund.
In conclusion, i believe we all have a plan to financial freedom, and i also believe that after reading this article your have added emergency fund savings plan to your already made plans, now the bigger task is to follow through with all your plans and strike balance between them because it is the hardest part of achieving financial goals.
TO READ MORE- Hover Over to my signature[url]
Investment / How To Build Emergency Fund For You Business by Okfiscal(m): 3:34am On May 22
When it comes to personal finance, anything can happen, good or bad. Which is why having financial goals and plans for the future is necessary and of such plan is to have an emergency saving for uncertainties and unforseen events.
There are some things we don’t bargain for in life that just happen, this is why it is very necessary to have an emergency fund.
In this article i will be focusing on how to build emergency fund savings which can be used to resolve events that happens unaware and unexpected
What is emergency fund?
An emergency fund is an account for funds set aside in case of the event of a personal financial dilemma, such as the loss of a job, a debilitating illness, or a major repair to your home. The purpose of the fund is to improve financial security by creating a safety net of funds that can be used to meet emergency expenses as well as reduce the need to draw from high-interest debt options.
This savings are majorly kept to tackle unexpected events which demands spending of money.
Note:No financial institutions such as bank, co operative and other financial institute have account labeled or tag emergency funds. Rather, the task falls on an individual to set up this type of account and earmark it as capital reserved for personal financial crises.
According to most financial planner, an emergency fund should contain enough money to cover at least three months your income.
How to build emergency fund
Below are step to build an emergency fund savings the major factor is starting early, if you start building your emergency fund early in no distance time you will build a comfortable savings against any emergencies that might rise later in life.
The step to build emergency fund are not complex. Here some step to been taken in building emergency fund savings:
1. Understand your income vs your expenses.
Take your time to analyze how much you make monthly and how much spend on monthly basis. Having understanding of these will help determine how much really need emergency fund and the amount you can put on its monthly.
This amount should be calculated keeping an eventual goal for savings that will contribute to your fund. As you move up (or down) through your career, you can revise this figure. Once the fund is built up to the level you need, invest extra savings for the long term or for other goals, such as buying a new apartment.
2. Set a target
Ideally, an emergency fund should have an accumulated sum of at least four to six months of a person’s monthly income to make fund easily accessible. Set a target for yourself to achieve this goal.
Decide how long it will take you to get to your target based on how you save monthly.
Also, come up with a plan to commence your saving process. Having a plan and setting goals is a perfect combination to have a functioning emergency fund.
For example, A married couple who earns $108,000 annually after taxes should set aside a readily accessible minimum of $27,000 (three months) to $54,000 (six months) to address unexpected financial surprises. The funds should be highly
liquid, remaining in savings accounts. These vehicles allow quick access to cash for satisfying household expenses during an emergency situation
3. Create account where you can easily access your fund:
A savings account is the best place to put an emergency fund. So you won’t have any problem when you need the money.
You need to also make saving into an emergency savings account automatic. Plan regular payments every month from your salary account to your emergency fund, using your bank’s automatic transfer payment plans. It makes it easier to save for emergency when you actually forget to do so at the end of every month.
These are simple ways you should use to start building an emergency fund to resolve financial surprises at anytime anywhere.
Key note;
An emergency fund is a financial security for future mishaps and/or unexpected expenses.
Financial planners recommend that emergency funds should typically have 3 to 6 months’ worth of income in very liquid form so that it is instantly accessible.
Use tax refunds and other windfalls to build up your fund.
In conclusion, i believe we all have a plan to financial freedom, and i also believe that after reading this article your have added emergency fund savings plan to your already made plans, now the bigger task is to follow through with all your plans and strike balance between them because it is the hardest part of achieving financial goals.
TO READ MORE- Hover Over to my signature[url]
Education / How To Build Emergency Fund To Pay School Fees And Student Loan by Okfiscal(m): 3:12am On May 22
When it comes to personal finance, anything can happen, good or bad. Which is why having financial goals and plans for the future is necessary and of such plan is to have an emergency saving for uncertainties and unforseen events.
There are some things we don’t bargain for in life that just happen, this is why it is very necessary to have an emergency fund.
In this article i will be focusing on how to build emergency fund savings which can be used to resolve events that happens unaware and unexpected
What is emergency fund?
An emergency fund is an account for funds set aside in case of the event of a personal financial dilemma, such as the loss of a job, a debilitating illness, or a major repair to your home. The purpose of the fund is to improve financial security by creating a safety net of funds that can be used to meet emergency expenses as well as reduce the need to draw from high-interest debt options.
This savings are majorly kept to tackle unexpected events which demands spending of money.
Note:No financial institutions such as bank, co operative and other financial institute have account labeled or tag emergency funds. Rather, the task falls on an individual to set up this type of account and earmark it as capital reserved for personal financial crises.
According to most financial planner, an emergency fund should contain enough money to cover at least three months your income.
How to build emergency fund
Below are step to build an emergency fund savings the major factor is starting early, if you start building your emergency fund early in no distance time you will build a comfortable savings against any emergencies that might rise later in life.
The step to build emergency fund are not complex. Here some step to been taken in building emergency fund savings:
1. Understand your income vs your expenses.
Take your time to analyze how much you make monthly and how much spend on monthly basis. Having understanding of these will help determine how much really need emergency fund and the amount you can put on its monthly.
This amount should be calculated keeping an eventual goal for savings that will contribute to your fund. As you move up (or down) through your career, you can revise this figure. Once the fund is built up to the level you need, invest extra savings for the long term or for other goals, such as buying a new apartment.
2. Set a target
Ideally, an emergency fund should have an accumulated sum of at least four to six months of a person’s monthly income to make fund easily accessible. Set a target for yourself to achieve this goal.
Decide how long it will take you to get to your target based on how you save monthly.
Also, come up with a plan to commence your saving process. Having a plan and setting goals is a perfect combination to have a functioning emergency fund.
For example, A married couple who earns $108,000 annually after taxes should set aside a readily accessible minimum of $27,000 (three months) to $54,000 (six months) to address unexpected financial surprises. The funds should be highly
liquid, remaining in savings accounts. These vehicles allow quick access to cash for satisfying household expenses during an emergency situation
3. Create account where you can easily access your fund:
A savings account is the best place to put an emergency fund. So you won’t have any problem when you need the money.
You need to also make saving into an emergency savings account automatic. Plan regular payments every month from your salary account to your emergency fund, using your bank’s automatic transfer payment plans. It makes it easier to save for emergency when you actually forget to do so at the end of every month.
These are simple ways you should use to start building an emergency fund to resolve financial surprises at anytime anywhere.
Key note;
An emergency fund is a financial security for future mishaps and/or unexpected expenses.
Financial planners recommend that emergency funds should typically have 3 to 6 months’ worth of income in very liquid form so that it is instantly accessible.
Use tax refunds and other windfalls to build up your fund.
In conclusion, i believe we all have a plan to financial freedom, and i also believe that after reading this article your have added emergency fund savings plan to your already made plans, now the bigger task is to follow through with all your plans and strike balance between them because it is the hardest part of achieving financial goals.
TO READ MORE- Hover Over to my signature[url]
Business / Re: What To Do To Make Money Online? by Okfiscal(m): 6:31pm On May 17
Blogging and affiliate marketing.
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Business / Re: How To Accelerate The Growth Of Your Startup by Okfiscal(m): 4:25pm On May 17
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Business / Re: FIRS Vows To Eliminate Multiple Taxation by Okfiscal(m): 1:15pm On May 17
Visit https://okfiscal.com to read more information about finance management, taxation, loan and FGN Bonds
Investment / Re: Bigtoken Survey by Okfiscal(m): 9:24am On May 17
How is the experience for those that got the mail yesterday? Am sure you have started making your buck�.
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Events / Re: Make $5 Daily Now by Okfiscal(m): 9:20am On May 17
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Career / Re: Trending Trending!! Make $5 Daily Now by Okfiscal(m): 9:15am On May 17
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Business / Re: How To Run Affiliate Marketing Effectively by Okfiscal(m): 10:25pm On May 16
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Grab your now
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Jobs/Vacancies / Re: How To Identify A Scam Interview Invitation by Okfiscal(m): 9:53am On May 16
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Career / Re: Trending Trending!! Make $5 Daily Now by Okfiscal(m): 9:05am On May 16
Career / Trending Trending!! Make $5 Daily Now by Okfiscal(m): 8:41am On May 16
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Events / Re: Make $5 Daily Now by Okfiscal(m): 8:30am On May 16
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Events / Make $5 Daily Now by Okfiscal(m): 8:28am On May 16
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Investment / Re: Bigtoken Survey by Okfiscal(m): 8:14am On May 16
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1 Like

Investment / Bigtoken Survey by Okfiscal(m): 7:32am On May 16
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Investment / Re: Do You Know The Main Type Of Financing Your Business Need? by Okfiscal(m): 7:21am On May 15
Investment / Do You Know The Main Type Of Financing Your Business Need? by Okfiscal(m): 7:07am On May 15
Before you start a business it is required of you to know the sources of finance you will need to run the business smoothly.
My question to every individual out there is do you know the main type of financing and channels to get those finance?


Speak your mind
Investment / Re: How Deep Do You Know About Federal Government Of Nigeria Bonds -FGN BONDS by Okfiscal(m): 5:41pm On May 14
Go educate yourself now and start building sustainable financial status
https://okfiscal.com/how-to-invest-in-nigeria-bonds-system-fgn-bonds

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