₦airaland Forum

Thank you all, the guarantor option has saved the situation.

Thank you, employer reference was provided but agent/LL insisted on credit check.

DisGuy:
Maybe you should have a word with the agent and explain your situation as a newbie, you can ask if they'll take reference from your employer as that's your only sure link for now

Theresa May's hostile environment went well over the top!

Thanks, gotten a guarantor to help out.

fatima04:
Did the agency ask for credit report? If No, a guarantor will save the hassle and then subsequent renting becomes easy and cheaper as your current agent/LL will provide reference for you.

If yes, what I did when moving house and the new agent could not understand why we dont have a credit report. Went on clearscore and noddle website and inserted 3years on our current UK address and apparently we had a credit file and history but the 3 year address history column will always prevent you from registration.

Note by then we had already stayed more than 1 year in the country though, so may not work if you are a newbie.

Thank you
quote author=RalphJean post=80045999]


Get a guarantor[/quote]

You should get something in the region of 140 naira daily at 12.5% rate. As per 551 naira, your account probably wasnt activated until recently and possibly your accrued interest over the weekend is yet to reflect.

bikerboy1:
Please I need help understanding how the mutual fund interest works.

I did 400k MMF with FBNQ at 12.9%. Today is exactly 2 weeks I deposited into that account. But the interest accumulated for this 2 weeks is just #551.

Assuming the rate is 12.5% flat. Can I know the amount to get on daily basis from this 400k.

Thanks

Hi everyone, please how can one scale the hurdle of credit check when seeking to rent a house. The 3 year UK residency criteria is posing a challenge. I'll appreciate a speedy respone please thanks.

@lexusgs430 @fatima04 @davechapelle @spacyzuma and others abeg make una help me put mouth for this matter

Stanbic's performance leaves little to be desired of late, yield has been circa 11.6 on the average in the last couple of months. Won't really be surprised if ARM is performing better.

mikylon:
Just an observation.
I noticed ARM money market yeilds better that stanbic ibtc MMF.
I invested almost the same amount on both platform around february this year, but the accrued interest on ARM surpasses that of Stanbic.
Abi una never observe am.

You can fund your naira account via one of those money transfer platforms or other suitable means and then do a direct transfer to stanbic ibtc MMF account (someone has posted the acct details here) from your own naira account.

sgtponzihater1:
How do people invest in Stanbic MMF from abroad?

Please I need some form of clarifications on this quarterly proceed. I guess is an option some choose as against the daily payout, but won't the benefit of compound interest be lost temporarily with this option as the quarterly interest won't be added to the principal sum until the end of the quarter if the reinvestment option is chosen?

cybertek:
Who else is still awiating stanbic ibtc mmf 1st quarter fund

It goes both ways, I've had to wait for more than 24 hours to get credited and I've equally gotten my redemption proceeds in less than 3 hours.

AbbyE:
All these people always praising the speed of Stanbic's redemption ,why is my case always different?

Requested by 9am yesterday and nothing yet (even after sending me a text yesterday to say it would take 24hours)

Call or send a mail to your asset management firm and request for an update. There should be a form to fill to update such records. I think stanbic calls theirs bank nomination form.

debowale2015:
Good day house. How can I change the account number initially used for my MMF. what procedure do I need to follow?

Yes you will, but you will have to request for redemption each time you want to access your earned interests.

But i don't think it's in your best interest withdrawing your interest monthly. Such practice will only deprive you of enjoying the benefits of compound interest. It's best to allow your interest to earn interest, so you can grow your capital.

grosy:
Pls if I invest with stanbic ibtc bank mmf will I be able to use the interest every month

I get mine on daily basis except weekends which is usually credited on Monday mornings. I'm not sure if I've ever received any quarterly earnings from stanbic and I've been with them for a while now. My earnings are always credited on daily basis for as long as i can remember now, I don't know if it has to do with some options i chose while opening the account.

Do you get both daily and quarterly interests? Which of the asset managers?

234ng44uk:
It's about a week now since I received any interest posted on my account. Why does this quarterly stuff need to take forever? Are they doing it manually?
Any other person experiencing this or is it just my assets managers?

Let me add my voice to the issue about the rate.

My investment is with stanbic so I can only speak about my experience with stanbic.

This is how I calculate my daily return rate: the difference between my available balances yeterday and today multiplied by 365 divided by my available balance today multiply by 100.

Let's say my available balance reads x today and y yesterday, to get the rate at which I was paid today i simply do: X - Y * 365 /X * 100. This should give the exact rate for that day.

When I reached out to stanbic to inform them of the discrepancy in the rates, I was told the daily rate is net of withholding tax and the stated rate is gross of withholding tax, hence the stated rate is only indicative of the performance of the fund. I was also told the subscription/redemption difference also play a role.

Hello sir, do you mind sharing a template of the spreadsheet you use? Thank you.

234ng44uk:
You got 12.67% against 12.76% that's surprising. I got 12.7586% on 2nd April (1305.77 on 1st April minus 1235.86 on 2nd April for 200,000 Naira investment). Which is exactly what they stated in their website. I have a spreadsheet I keep amount paid, their interest rate and my rate I get. It's been accurate so far.
Note that the payment on your account is actually for the previous day. No mmf pay you for that day. The payment you'll get today 4th April is for 3rd April.

Hi everyone, I just checked stanbic's rate for yesterday 2/4/2019 and it stated 13.04% but I was paid 12.14%. Is their an explanation for this? Who else has observed this disparity between rates stated and rates paid? I don't even know if this has been the practice or just a glitch as I've never bothered to check.

PS : My top was eventually credited yesterday but was not backdated to Friday even after confirmation from one of their reps that fund was received that same friday. I'm beginning to have second thoughts about stanbic, maybe it's time to try out other investment houses.

dammybrite:
Kindly send them an email. That should solve the problem.

Thanks, I sent them an Email yeterday morning but I'm yet to get any feedback.

Good evening house, please has anyone had to wait for 48 hours or more after initiating additional subscription on stanbic mmf before the transaction value hits their account? I did on friday before the 12 noon cut of time and I'm yet to get value for that transaction as I write. I also observed that the accrued interest over the weekend (Sat and Sun) was not added to my balance on monday as against the usual practice. Anyone with such experience should please drop a word or two. Thanks.

netzro:
Please guys, I want to know if these funds managers use simple or compound interest in calculating profits. Thanks

It's compounded I guess, as the accrued interest is added to your principal to yield more interest.

It's compounded I guess, as the accrued interest is added to your principal to yield more interest.

Good morning beautiful people, thank you all for keeping the thread active. The thread is quite informative and very helpful, it's more like a guide book for many silent readers like myself. Please I'll like to ask if the address of a shared apartment can be used when filing for a dependant.

Hello Mr Pristine, please how much will it cost to paint a Toyota camry 2000 body work inclusive.

Hey lucky dudes! did any of u study any engineering related course? kindly reply pls.