₦airaland Forum

battleaxe:
Just to make it clear for you, you use the marginal rate not the yield when quoting your rates for TB.

As the interest is upfront, the true yield gives you a correct rate indication factoring in the fact that the interest was paid ahead of time; such that, for example, you could reinvest same if you wanted.

Mpeace:
My brother after your comment I followed up by calling diamond bank customer care. It turned out to be a waste of valuable airtime. After assuring me that they would investigate, they called back the next day to tell me that my 18.5% for 364days bid failed because the CBN rate was 18.69. I rejected that explanation and insisted that it was the more reason why my bid should have gone through. They just sent me a text later on to say my complaint has been reviewed and closed, whatever that means. I am not happy with them at all. I had already mapped out what to do with the interest. Just searching for a new bank that would alow me bid with my own rate. I will just close my diamond bank account. Their fuckup these days is becoming too much.

Mpeace:
I am still wondering what happened to my 18.5% bid for 364days with diamond bank. They never debited and have no reply for me. Something I submitted a week earlier than auction. But their staff told me he submitted it to head office on monday before the wednesday auction, despite the fact that I submitted my application the thursday of the previous week. Don't know if that's why it didn't sail.

David0:
There must be an evidence of an offer letter issued by the employer indicating terms n conditions, including salary n other benefits which is usually broken down.
If pension is not inclusive, he shud not bother. Even if pension is inclusive, does he still hv d offer letter cos d company can deny dey don't know him.

ezebunafo:
I have every document to back it up,the pension is stipulated in my call up later

David0:
You should contact them with details of ur employment letter stating ur pension. Otherwise if it is not stated there, u myt just b fighting a lost battle.

afanide:
FIRS is your option mostly now that they are angry at those misbehaving......

bigtt76:
Report them to FIRS. If they've filed their taxes, then they should have paid your pension too

hardniola:
my brother is 182 days.
and the CC even told me that I would see my money on 17th.
I don't understand them.i was at the bank today all I hear is that my money as not been drop.

ozymes:
Please I need response

fsb:
Yeah...well, its not too bad. Can always re-bid in another 2 weeks...

XVIER:
I fixed the money for 6 months this is the 2nd month now have not received any interest. Is it that they are to deposit my money together with my interest when the 6 months elapsed?

XVIER:
Pls nairalanders my brother just called me to inform me that I should cancel my fix deposit with Skye bank saying is likely the bank fold up soon due to financial crisis. Please, how true is this? I have 500k as fixed in that bank.

amnps:
Hi guys, is anyone experiencing the glitch today as trips all seem to cost around N700 or even less in some cases? I got a tweet from Uber saying they sent out communication in that regard, but I never got such. Who got one?

989900D:
About Erisco, it will be wise not to say anything, unless you know the real story of what is going on. There is more than meets the eye. Too many allegations and counter-allegations both ways.

loveourlagos:
Well done Gallant Soldiers

drealj:
I got debited and up to 2400 was charged from me and I only received a message from my bank head office and not from cbn ntb.pls hope this is not the bank secondary market.

17.50 for 364 at my bidding.pls am confused though have been debited.

qizick:
no reply nawaooo

battleaxe:
His interest will be 6.5k I.e. Six thousand five hundred Naira. His principal was just 200k. This is of course ignoring any charges.

michael03:
Pls can some1 tel me if am rigth,is dis how to calculate for 91 nd 182 days biddin? Let's say for eg I bidded 13% discount for 200000 naira for 91 days. Does it mean dat my discount or interest will b 13/100 *200000 = 26000 naira. Does it mean I wil get 26000 naira interest for 91days. Pls if am wrong soMe1 shuld help me out.thanks

scarr:
Sir, I've seen this statement about multiple quite a number of times but I still don't know what it means, kindly expantiate.
Thanks

Ekpokhia:
Please guys I'm new on this forum, I really appreciate what you guys are doing here.

But I have a little problem....3 months ago I invested on t-bill and I used the bank rate. And I only got 20,000 for the one million for 3 months which to me is very low. But i want to invest another 2 million. Please which bank has the best rate?

manie:
Rates were very poor in the first quarter of the year.

But the guy in question invested about 3 months ago, earning 20k for his 91 days N1 million investment.
I doubt if his bank actually bought Treasury Bill for him.

Ekpokhia:
I used zenith bank

Omonigeriarere:
Hi feelamong, please how do I calculate my yield. GTB subscribes to TB without my instruction and I want to know whether to accept or reject the bidding although I have been unsuccessful in my previous bidding with them.

I was credited with 42,314.18 on 500k in 182 days. Therefore, what is the % of this bid and how can I know the calculation because the answer I got from google search is confusing?

godash:
Is this 0.125% commission fee same as the custody fee also mentioned above?

I asked because Investment-One, [url]investment-one.com/about-us/corporate-profile/[/url] bought ~1 million naira of TB @ 17.0% at the last auction on my behalf and I've just being informed they'll be charging me 0.5% of the interest as commission. I'm still trying to get some clarify about the charge.

feelamong:
0.5% is above the CBN approved rate of 0.125%

book a meeting with your account officer asap!

ummitoagirl:
Attached.... all is calculated on the face value of the investment... not the gains.

feelamong:
I think its important to put the charges for Tbills into proper perspective...

CBN approved 3 charges for Tbills Auction

Transaction Charge - 0.125% of the Earned Interest

Custody Fee - 0.1% of the Face value *no of days the Tbills is held in a year

Some Banks also charge N100 service charge per transaction

So If was Investing N1m for 91 days at 9.5% the charges will be

Transaction Charge - 0.125/100 * 23,684.93 = 29.61

Custody fee - N1,000,000 *0.1/100 *30/365 *3 = 246.58

Bank Charge per Transaction - N100

Total Charges = 376.18

(Note that The Discount Rate and Tenor also affects the charges)

ChessEnthusiast:
Oh really. Thanks for letting me know. I'll buy from the primary market going forward.

ChessEnthusiast:
14.7% for 140 days. Just bought recently - on Friday precisely.

AkumahTalk:
Almost everything is negotiable. Yesterday I renegotiated a standard hosting payment with my provider (an American company) from USD155.40 to USD107.40 Meanwhile USD155.40 is their official charge (it's listed on their website). I simply told them point blank that I can't pay that amount and I want to terminate and migrate to a cheaper provider. They offered me a discount and I took it.
When it comes to negotiation, I always try my luck. I once tried to negotiate my flight fare with Arik at the airport .

bellville:
Yes they are. I got that info from one of the parents in my son's school and was surprised. There are a lot of backdoor negotiations going on.

kaorama:
Yes very possible. In fact, i did it last time and got more than i planned to get.