NL1960:


If i move the upfront interest to MMF, the monthly interest from MMF will no longer be much. Upfront interest is good for payment of one year rent.

Well then as long as you're comfortable with what works for you.

ositadima1:


The way I would compound it is by doing three consecutive Treasury bills, which would take a month plus.

For the first T-bills, I would put the #10 million at 21% (assuming this is the rate) and get #2.1 million upfront.

For the next auction, I would put the #2.1 million at 21% (again assuming a constant rate) and get #441 thousand upfront.

For the next auction, I would put the #441 thousand at 21% (again assuming a constant rate) and get #92.6 thousand upfront. At this point, I would stop and keep the #92.6 thousand.

At the end of the tenures, one year and a few weeks from now, they will start crediting one after the other: #10 million, then #2.1 million, and lastly #441 thousand plus the #92.6 thousand, which sums up to #12.633 million (profit of 2.63 million) . So, by compounding this way, you would make an extra #533 thousand.

What about the withholding tax?

ositadima1:


The way I would compound it is by doing three consecutive Treasury bills, which would take a month plus.

For the first T-bills, I would put the #10 million at 21% (assuming this is the rate) and get #2.1 million upfront.

For the next auction, I would put the #2.1 million at 21% (again assuming a constant rate) and get #441 thousand upfront.

For the next auction, I would put the #441 thousand at 21% (again assuming a constant rate) and get #92.6 thousand upfront. At this point, I would stop and keep the #92.6 thousand.

At the end of the tenures, one year and a few weeks from now, they will start crediting one after the other: #10 million, then #2.1 million, and lastly #441 thousand plus the #92.6 thousand, which sums up to #12.633 million (profit of 2.63 million) . So, by compounding this way, you would make an extra #533 thousand.

Nakedman:


I have been moving my funds to tbills. The 20% is no joke. mmf is still sitted at 12%. I can't open my eyes and lose over 8%

See the rates I was given at first bank

87 days 13.5%
164 days 14%
346days 17.5%
318 14%
332 15%
290 14%
255 13%

Foodempire:


Wao, I will miss the next week bidding then because fbnquest won't release funds until 48 hrs, I will get ready for the March 27th auction.

Stanbic says WITHIN 2 working days. I redeemed Saturday and it dropped today Monday

biznus:

Stanbic says WITHIN 2 working days. I redeemed Saturday and it dropped today Monday

The 2days start from today which is a working day. so by wed or thursday you should get

blkmum700:



See the rates I was given at first bank

87 days 13.5%
164 days 14%
346days 17.5%
318 14%
332 15%
290 14%
255 13%

Fair enough for a secondary market. If you can't wait for the primary market, Pick the 17.5% on the secondary

ositadima1:


The way I would compound it is by doing three consecutive Treasury bills, which would take a month plus.

For the first T-bills, I would put the #10 million at 21% (assuming this is the rate) and get #2.1 million upfront.

For the next auction, I would put the #2.1 million at 21% (again assuming a constant rate) and get #441 thousand upfront.

For the next auction, I would put the #441 thousand at 21% (again assuming a constant rate) and get #92.6 thousand upfront. At this point, I would stop and keep the #92.6 thousand.

At the end of the tenures, one year and a few weeks from now, they will start crediting one after the other: #10 million, then #2.1 million, and lastly #441 thousand plus the #92.6 thousand, which sums up to #12.633 million (profit of 2.63 million) . So, by compounding this way, you would make an extra #533 thousand.

Thought about it that way too, nice one

Itsrm:


100% sure

I just contacted my account officer at Zenith and dude insisted there's no auction this week.

ositadima1:


The way I would compound it is by doing three consecutive Treasury bills, which would take a month plus.

For the first T-bills, I would put the #10 million at 21% (assuming this is the rate) and get #2.1 million upfront.

For the next auction, I would put the #2.1 million at 21% (again assuming a constant rate) and get #441 thousand upfront.

For the next auction, I would put the #441 thousand at 21% (again assuming a constant rate) and get #92.6 thousand upfront. At this point, I would stop and keep the #92.6 thousand.

At the end of the tenures, one year and a few weeks from now, they will start crediting one after the other: #10 million, then #2.1 million, and lastly #441 thousand plus the #92.6 thousand, which sums up to #12.633 million (profit of 2.63 million) . So, by compounding this way, you would make an extra #533 thousand.

Hello, please Stanbic charged me additional 10k plus as 'safekeep' charge for T.B of just 2M. I have been investing in T.B and I am shocked at this. Is it normal please? I don't have the time yet to enter bank and complain.

safex:

I just contacted my account officer at Zenith and dude insisted there's no auction this week.

Okay o.

Nakedman:


Fair enough for a secondary market. If you can't wait for the primary market, Pick the 17.5% on the secondary

I later got 16.5% at Eco Bank for 91 days.

dem wan scam u wid those rates ohh

better open your eyes...theres better rates if u look well

blkmum700:



See the rates I was given at first bank

87 days 13.5%
164 days 14%
346days 17.5%
318 14%
332 15%
290 14%
255 13%

sboga:
dem wan scam u wid those rates ohh

better open your eyes...theres better rates if u look well

It's not a scam cos those rates look like secondary market to me

sboga:
dem wan scam u wid those rates ohh

better open your eyes...theres better rates if u look well

Me way japa from there when I see 17% online.

Itsrm:


Okay o.

That's why it's good to operate many banks ooo. The calender from the author of TB was posted earlier and it said there will be an auction this week.
Except they changed their minds which there rarely do.

In my bank I was told on Friday that the auction will be the week after this week, I told them I was reliably informed that it will hold this week so she just gave me the form to fill.

Zenith does not seem to be a TB friendly bank. So, next time if you are sure, once he makes excuses just move your funds to a more TB friendly bank like FBN and Stanbic.

Nakedman:


The 2days start from today which is a working day. so by wed or thursday you should get

'with-in' is not same as 'in or after'. I got the money today as I stated when I said it dropped today

Good morning all. I am at first bank now I was informed that there is no auction this week until next week.

I also requested for their secondary market rate.

debbydee:
Good morning all. I am at first bank now I was informed that there is no auction this week until next week.

I also requested for their secondary market rate.

18.4 Very ok. Pry I heard is 19

NL1960:


This new TB rate is now giving somebody a headache on TB vs MMF.

TB over MFF

debbydee:
Good morning all. I am at first bank now I was informed that there is no auction this week until next week.

I also requested for their secondary market rate.

I guess they want to pay you interest upfront

359DAYS is 23.58 today sec mkt back end interest. if you opt for upfront it should be around 19 depending on the bank/Investment house

biznus:
18.4 Very ok. Pry I heard is 19

i dont think. secondary market rate for both front/backend interest is more than for that tenure.

Tbills sec market Investment One.

The first interest rate is when you opt for interest upfront, the other is at maturity and the last is tenure

debbydee:
Good morning all. I am at first bank now I was informed that there is no auction this week until next week.

I also requested for their secondary market rate.

Normally, you are to do your findings before going to the bank if not. Uninformed or sometimes selfish bank staff will confuse you or convince you to accept what is not.

Attached is the 1st QTR 24 TB Calender posted here earlier. There is auction this week and they won't be any next week till upper week. If you had insisted the person that attended to you will either accept your request to invest and give you the form or call to confirm. I subscribed through FBN this week and the funds have been deducted from my account. I am just praying their bid succeeds.

Odunharry:

i dont think. secondary market rate for both front/backend interest is more than for that tenure.

you should have added "for Investment One"

Tell us more about Investment One Cos I was referring to bidding directly through your bank's savings account

biznus:
18.4 Very ok. Pry I heard is 19

Stanbic was 20%

Nakedman:


Stanbic was 20%

true, around that
Sometimes it comes down to 20 so it pulls through

How do I start tbills, I have 2 meters lying fallow in Stanbic.

Nakedman:


You can as well invest the interest or move the interest to your mutual funds if need be for emergency funds. Just saying. You shouldn't miss out of this 20%

blkmum700:



I later got 16.5% at Eco Bank for 91 days.

Please how do you do it ecobank is doing me as if they do not understand what is tbill

biznus:
you should have added "for Investment One"

Tell us more about Investment One Cos I was referring to bidding directly through your bank's savings account

hit me on .

You can also read more here investment-one dot com

freeman67:


Normally, you are to do your findings before going to the bank if not. Uninformed or sometimes selfish bank staff will confuse you or convince you to accept what is not.

Attached is the 1st QTR 24 TB Calender posted here earlier. There is auction this week and they won't be any next week till upper week. If you had insisted the person that attended to you will either accept your request to invest and give you the form or call to confirm. I subscribed through FBN this week and the funds have been deducted from my account. I am just praying their beid succeeds.

I no even get power to argue. When the result comes out, we will know if there was auction or not.

Odunharry:
Tbills sec market Investment One.

The first interest rate is when you opt for interest upfront, the other is at maturity and the last is tenure

sorry to ask this but how is investment one able to do 23.58%?