₦airaland Forum

Hello house someone said at providus bank it has a 60days save and earn 10% with a minimum investment of 5m you can walk into any branch.

Is this true

Please what rate did Stanbic bank used for there 182 and 365 days rates in the last treasury bill?

Tolu2024:
Just coming back from Ecobank and FBNQUEST to make inquiries about T Bill first:
Ecobank told me the rate is 16% for 365 days and 250 days only .
No 3 months or 6 months .
And the ecobank person told me I can’t use my Tbill to get Loan that I am giving the money to fed not them.
I am looking for options where I can get loan also .


I left there went to FBNQUEST in Port-Harcourt the fine sexy lady I met there told me they don’t do T Bills only MMF that the rate is 20% . But they will pay me quarterly which is for 3 month ,.

The lady told me they don’t give loan or I can not use it for loan too.


Wanted to invest 10m after calculating the interest it was about 450k for 3m month.


Just thinking about it . I was hoping they will pay the interest upfront like T bill.

Please house which investment option pay like T bill ?

Fun fact 🤩
I was already calculating the 20% for 3 months more than enough to pay my rent, dividend the 20% interest into 12 sound funny 😄.

I was hoping

I told someone to do TBill since he went to his bank, account officer discouraged him ,that he didn't know anything about
that he might lose his money he convince the person to do fixed deposit instead,why are they like this

What are the benefits of the asset backed loan united capital offers? I believe they can’t loan you more than your capital with them, what’s the interest on the loan? Will your money market investment keep getting the accrued interest while you are servicing your loan?

If I have a capital of say 10m with you and you approve a loan of 9m to me, is this really a loan? Why can’t i just use my money for the purpose i am taking the loan for, If the daily money market interest will keep dropping then i might consider it. Kindly explain, how do one profit from this loan ?

emmaodet:
To get loan with your mutual fund or MMF, you will have to use brokers like united capital.
They are the one am using and have gotten loan twice from them using my stock broking account and mutual fund account.
The one i got 2 weeks ago interest was 29% per annum.
The good thing about their loan is that you don't need any collateral aside your investment with them, you don't need a guarantor neither unlike traditional banks.
Another good thing is the mode of payment - it is bullet payment unlike traditional banks were you pay back the loan and interest on monthly basis. You only pay back their own after 6 months but if you can't, you can roll it over for another 6 months and keep doing that for like 3-5 years provided you are paying the 6 months interest. which is about 14.5% every 6 months pending when you clear the loan or worst case if you can't, instruct them to use your MMF to clear it.
And you also get the loan within 3 days. No contact, no calls, everything done online by your e-mail - form filling, signature etc

Beautifulsoul97:
What are the benefits of the asset backed loan united capital offers? I believe they can’t loan you more than your capital with them, what’s the interest on the loan? Will your money market investment keep getting the accrued interest while you are servicing your loan?

If I have a capital of say 10m with you and you approve a loan of 9m to me, is this really a loan? Why can’t i just use my money for the purpose i am taking the loan for, If the daily money market interest will keep dropping then i might consider it. Kindly explain, how do one profit from this loan ?

If you solve the pressing need, the money is gone forever but if you invest it and use it to get a loan, it is still your money.
Let's assume you have 10m and buy a car of 5m, you will be left with 5m.
But if you put the 10m in MF and get a loan of 5m, you will buy the car while still getting roughly 2m per year from your investment.
In roughly 4/5 years, you will pay back the loan while still keeping the car and your invested money

The bolded above was his reply to similar question. And I strongly think it makes perfect sense.

A loan involves monthly repayment right or in some investment company quarterly or bullet payment (like the one he is using).

Now if you do MMF and take out loan (let say 50 percent of your MMF amount), the monthly interest generated by your MMF can cover the monthly repayments of your loan. Now as a business man or woman, your business will keep generating funds which you can also channel into repayments of the loan...at the end of the whole scenario , you would have paid off your loan while still retaining your intial capital invested in MMF.

And there is no where a bank will give you loan above your invested amount without collateral. It is like you having 5 million naira invested, but want to buy a car of 15 million naira, you will have to bring something else to back up the loan you need....But a car of 2 million naira can work out based on your invested amount...

Above all, my sister do what you think is right with your money if you feel it doesn't sit right to take loan against your invested money.


CC emmaodet

Beautifulsoul97:
What are the benefits of the asset backed loan united capital offers? I believe they can’t loan you more than your capital with them, what’s the interest on the loan? Will your money market investment keep getting the accrued interest while you are servicing your loan?

If I have a capital of say 10m with you and you approve a loan of 9m to me, is this really a loan? Why can’t i just use my money for the purpose i am taking the loan for, If the daily money market interest will keep dropping then i might consider it. Kindly explain, how do one profit from this loan ?

Let us assume that you have a yearly rent of N1.8m which is N150k on monthly basis. If you take out a loan of N2m to pay the yearly rent, the interest on your N10m can come to N160k every month. You use N150k from the N160k to service the loan and use the remaining N10k to drink pepper soup.

This idea of always wanting to pay cash for every thing is why we find it difficult to get basic things in Nigeria. Cash for rent, cash for phone, cash for a car etc whereas abroad, once you are working, you can get basic things by using a loan and pay over time. Once you use the cash you have to pay, it creates a big hole in your account and you then have to begin to save again. You can use cash and then suddenly something comes up that you need to solve and there is no more cash for it.

DAramis:
If you solve the pressing need, the money is gone forever but if you invest it and use it to get a loan, it is still your money.
Let's assume you have 10m and buy a car of 5m, you will be left with 5m.
But if you put the 10m in MF and get a loan of 5m, you will buy the car while still getting roughly 2m per year from your investment.
In roughly 4/5 years, you will pay back the loan while still keeping the car and your invested money




CC emmaodet

For those with financial discipline, this approach may not be beneficial. I'd rather leverage compound interest and use the accrued interest to cover essential expenses, rather than depleting my savings.

With this, I'll be avoiding loan & interest payment.
Unless I'm borrowing a huge chunk for business purposes I don't see any gain in keeping/investing my money for a lesser ROI% then take a loan at a higher interest to settle needs.

Pls how can I can fund my stanbic money market account without going to stanbic bank? Do they have an account number one can transfer to like fbnquest does?, if yes kindly share the account number. Thanks.

Hello house, does anyone know what rates Stanbic bank used for there 182 and 365 days rates in the last treasury bill?

DigitalMallam:
For those with financial discipline, this approach may not be beneficial. I'd rather leverage compound interest and use the accrued interest to cover essential expenses, rather than depleting my savings.

With this, I'll be avoiding loan & interest payment.
Unless I'm borrowing a huge chunk for business purposes I don't see any gain in keeping/investing my money for a lesser ROI% then take a loan at a higher interest to settle needs.

Well, every Mallam to his kettle

DAramis:
If you solve the pressing need, the money is gone forever but if you invest it and use it to get a loan, it is still your money.
Let's assume you have 10m and buy a car of 5m, you will be left with 5m.
But if you put the 10m in MF and get a loan of 5m, you will buy the car while still getting roughly 2m per year from your investment.
In roughly 4/5 years, you will pay back the loan while still keeping the car and your invested money

The bolded above was his reply to similar question. And I strongly think it makes perfect sense.

A loan involves monthly repayment right or in some investment company quarterly or bullet payment (like the one he is using).

Now if you do MMF and take out loan (let say 50 percent of your MMF amount), the monthly interest generated by your MMF can cover the monthly repayments of your loan. Now as a business man or woman, your business will keep generating funds which you can also channel into repayments of the loan...at the end of the whole scenario , you would have paid off your loan while still retaining your intial capital invested in MMF.

And there is no where a bank will give you loan above your invested amount without collateral. It is like you having 5 million naira invested, but want to buy a car of 15 million naira, you will have to bring something else to back up the loan you need....But a car of 2 million naira can work out based on your invested amount...

Above all, my sister do what you think is right with your money if you feel it doesn't sit right to take loan against your invested money.

Exactly.
You have said it all
Let everyone do what they feel is right.

Foodempire:
Pls how can I can fund my stanbic money market account without going to stanbic bank? Do they have an account number one can transfer to like fbnquest does?, if yes kindly share the account number. Thanks.

Simply use the BluNest app

DigitalMallam:
For those with financial discipline, this approach may not be beneficial. I'd rather leverage compound interest and use the accrued interest to cover essential expenses, rather than depleting my savings.

With this, I'll be avoiding loan & interest payment.
Unless I'm borrowing a huge chunk for business purposes I don't see any gain in keeping/investing my money for a lesser ROI% then take a loan at a higher interest to settle needs.

No body loves loan but there are situations you may need to take out one.

Example, took a loan to pay your yearly house rent, your Savings bond investment which you did finally dropped dividends after few months....you simply took the block money and pay off your loan.

NB: I myself don't take loan and I try as much as possible to cut my coat according to my size.

Beautifulsoul97:
What are the benefits of the asset backed loan united capital offers? I believe they can’t loan you more than your capital with them, what’s the interest on the loan? Will your money market investment keep getting the accrued interest while you are servicing your loan?

If I have a capital of say 10m with you and you approve a loan of 9m to me, is this really a loan? Why can’t i just use my money for the purpose i am taking the loan for, If the daily money market interest will keep dropping then i might consider it. Kindly explain, how do one profit from this loan ?

Opportunity cost.
In an economy with high inflation, the borrower wins while the lender loses.
I believe you know a 1m now is better than 1m next year because a 1m last year worths more and would have bought more than a 1m today.
Why wait to save 2m per year from 10m I invested in TB/bonds/MF for 3 years to buy a 5m car by 2027 when I can use my investment as loan to buy the 5m car now.
By 2027, yes you would have been able to save the 5m from your investment without taking loan but that money won't be able to buy that car again because it could have worth 7/8m then but if you borrow to buy now, you are returning back a less worthy money back to the lender.
There are opportunities you will lose trying to save us before doing somethings, hence loan looks okay.
A land that sells for 5m now you don't want to take the loan for to buy won't be the same price 3 years from now if you save to buy it.
Lafarge(wapco) was #35 per shares last year November, if I had waited to save up to buy, I would have lost the opportunity to buy cheap when the opportunity arose.
I took the ucap loan, bought lafarge and less than 6 months , it has risen to #77. More than 100%.
If I am to be using my interest on TB or bonds to buy, I would have only bought few then and when the next cash comes, I will be buying at expensive price.
A 10m loan in wapco in November will be worth 21m now, remove the principal and interest and you will still be left with close to 10m in profit but Hey, we are all different.
Different faces, different backgrounds, different way of seeing situations and executing it which is where the rich differs from the poor.
How we maximize the opportunities in our hands.
As our names, face, date of birth and death and mode of death differs, so is how we will see and do things differently.

heavenisreal18:
I told someone to do TBill since he went to his bank, account officer discouraged him ,that he didn't know anything about
that he might lose his money he convince the person to do fixed deposit instead,why are they like this

They are not benefiting anything from it that why

emmaodet:
Opportunity cost.
In an economy with high inflation, the borrower wins while the lender loses.
I believe you know a 1m now is better than 1m next year because a 1m last year worths more and would have bought more than a 1m today.
Why wait to save 2m per year from 10m I invested in TB/bonds/MF for 3 years to buy a 5m car by 2027 when I can use my investment as loan to buy the 5m car now.
By 2027, yes you would have been able to save the 5m from your investment without taking loan but that money won't be able to buy that car again because it could have worth 7/8m then but if you borrow to buy now, you are returning back a less worthy money back to the lender.
There are opportunities you will lose trying to save us before doing somethings, hence loan looks okay.
A land that sells for 5m now you don't want to take the loan for to buy won't be the same price 3 years from now if you save to buy it.
Lafarge(wapco) was #35 per shares last year November, if I had waited to save up to buy, I would have lost the opportunity to buy cheap when the opportunity arose.
I took the ucap loan, bought lafarge and less than 6 months , it has risen to #77. More than 100%.
If I am to be using my interest on TB or bonds to buy, I would have only bought few then and when the next cash comes, I will be buying at expensive price.
A 10m loan in wapco in November will be worth 21m now, remove the principal and interest and you will still be left with close to 10m in profit but Hey, we are all different.
Different faces, different backgrounds, different way of seeing situations and executing it which is where the rich differs from the poor.
How we maximize the opportunities in our hands.
As our names, face, date of birth and death and mode of death differs, so is how we will see and do things differently.

some Valid points .
A land I saw for 31m naira 2023 now 75m it reprice itself well if I took a Loan then to buy it will have paid back 45m and made 30m .
Also a friend bought an asset for 17m fiance by a bank paid back 22m Loans + interest Sold asset for 25m after 3 years cos price of the assets have Jumped to 40m

k

sammily:
Please what rate did Stanbic bank used for there 182 and 365 days rates in the last treasury bill?

I only know of 365 days... Their primary market rate was 19.3%

Your points are valid and I believe a lot of people would be enlightened by your write up , thanks. I am hoping to purchase a property using an asset backup loan hence I asked that you should explain the benefits of such loan.

For a better understanding, how much % of one’s money can be borrowed and on what interest ?, say you have 10m with them, can you borrow up to 9m? Can the repayments period take up to five years ? Will your total funds with them continue to generate daily interest while you service the loan? Thanks

emmaodet:
Opportunity cost.
In an economy with high inflation, the borrower wins while the lender loses.
I believe you know a 1m now is better than 1m next year because a 1m last year worths more and would have bought more than a 1m today.
Why wait to save 2m per year from 10m I invested in TB/bonds/MF for 3 years to buy a 5m car by 2027 when I can use my investment as loan to buy the 5m car now.
By 2027, yes you would have been able to save the 5m from your investment without taking loan but that money won't be able to buy that car again because it could have worth 7/8m then but if you borrow to buy now, you are returning back a less worthy money back to the lender.
There are opportunities you will lose trying to save us before doing somethings, hence loan looks okay.
A land that sells for 5m now you don't want to take the loan for to buy won't be the same price 3 years from now if you save to buy it.
Lafarge(wapco) was #35 per shares last year November, if I had waited to save up to buy, I would have lost the opportunity to buy cheap when the opportunity arose.
I took the ucap loan, bought lafarge and less than 6 months , it has risen to #77. More than 100%.
If I am to be using my interest on TB or bonds to buy, I would have only bought few then and when the next cash comes, I will be buying at expensive price.
A 10m loan in wapco in November will be worth 21m now, remove the principal and interest and you will still be left with close to 10m in profit but Hey, we are all different.
Different faces, different backgrounds, different way of seeing situations and executing it which is where the rich differs from the poor.
How we maximize the opportunities in our hands.
As our names, face, date of birth and death and mode of death differs, so is how we will see and do things differently.

[quote author=emmaodet post=135381196][/quote]Sir, thank you for the info about ucap. You open my eyes. Secondly,I wanted to fill the forms online.the space where I fill my gmail for example iffdffatgmaildotcom shows wrong format.

Ok,i got the answers to my questions in your previous post. Thanks for the enlightenment.

emmaodet:
Well, every Mallam to his kettle

Being inquisitive and discussing investment plans with financial educators can actually open one’s eyes to greater opportunities . I got to know about this ucap loan since about 6 years ago when I opened an account with them but i never knew the benefits involved .

Chijohn42k:
Sir, thank you for the info about ucap. You open my eyes. Secondly,I wanted to fill the forms online.the space where I fill my gmail for example iffdffatgmaildotcom shows wrong format.

Chijohn42k:
Sir, thank you for the info about ucap. You open my eyes. Secondly,I wanted to fill the forms online.the space where I fill my gmail for example iffdffatgmaildotcom shows wrong format.

Uwc bro.
Maybe you can use another email

Beautifulsoul97:
Being inquisitive and discussing investment plans with financial educators can actually open one’s eyes to greater opportunities . I got to know about this ucap loan since about 6 years ago when I opened an account with them but i never knew the benefits involved .

how do you fill the email space
Showing invalid email format

emmaodet:
Uwc bro.
Maybe you can use another email

Same invalid email format. I will try the App

Chijohn42k:
Same invalid email format. I will try the App

Yes, use app or send them mail.
They will send you the form you can download and print, fill and send back to them to open it for you

[quote author=emmaodet post=135421604][/quote]Please, how do I fund it through transfer from my bank app to the wallet/

emmaodet:
Opportunity cost.
In an economy with high inflation, the borrower wins while the lender loses.
I believe you know a 1m now is better than 1m next year because a 1m last year worths more and would have bought more than a 1m today.
Why wait to save 2m per year from 10m I invested in TB/bonds/MF for 3 years to buy a 5m car by 2027 when I can use my investment as loan to buy the 5m car now.
By 2027, yes you would have been able to save the 5m from your investment without taking loan but that money won't be able to buy that car again because it could have worth 7/8m then but if you borrow to buy now, you are returning back a less worthy money back to the lender.
There are opportunities you will lose trying to save us before doing somethings, hence loan looks okay.
A land that sells for 5m now you don't want to take the loan for to buy won't be the same price 3 years from now if you save to buy it.
Lafarge(wapco) was #35 per shares last year November, if I had waited to save up to buy, I would have lost the opportunity to buy cheap when the opportunity arose.
I took the ucap loan, bought lafarge and less than 6 months , it has risen to #77. More than 100%.
If I am to be using my interest on TB or bonds to buy, I would have only bought few then and when the next cash comes, I will be buying at expensive price.
A 10m loan in wapco in November will be worth 21m now, remove the principal and interest and you will still be left with close to 10m in profit but Hey, we are all different.
Different faces, different backgrounds, different way of seeing situations and executing it which is where the rich differs from the poor.
How we maximize the opportunities in our hands.
As our names, face, date of birth and death and mode of death differs, so is how we will see and do things differently.

Interesting. I never knew about this loan thing. Thank you so much for all your teachings and information you give out here. God bless you richly

Pls does Stanbic give this loan too?

“WHY DO MOST NIGERIANS LOSE MONEY AFTER BUYING A LAND”

The truth is there are lots of secured lands all over Nigeria but most people are greedy and don’t want to pay lots of money and that’s why they end up losing their money or the land they bought

Most Nigerians don’t lose money buying land ……..They lose it trying to “secure” land from OMONILE, without any receipt because the land seems cheap

They skip documentations, trust thier uncle’s friends cousin — and boom, they own the same plot as 3 people 😂😂. That’s the worst thing anyone can do while buying a land

BUYING LAND ISN’T THE PROBLEM

BUYING RIGHT IS .

HOW TO AVOID LOSING MONEY WHEN YOU BUY A LAND ?

1. Don’t trust word of mouth , trust documents

2.verify the land title at the land registry

3. Always use a lawyer

4. Visit the land you want to buy physically

5. Work with trusted real estates firms that are registered— not roadside agents

Land is the one of the best assets to build wealth— but only if you buy it the right way

“Land can either build your wealth or burn your savings. If you are planning to invest this year, message me now — let’s help you do it the right way”

Mpr retained

DigitalMallam:
For those with financial discipline, this approach may not be beneficial. I'd rather leverage compound interest and use the accrued interest to cover essential expenses, rather than depleting my savings.

With this, I'll be avoiding loan & interest payment.
Unless I'm borrowing a huge chunk for business purposes I don't see any gain in keeping/investing my money for a lesser ROI% then take a loan at a higher interest to settle needs.

This has been my approach since I joined Fairmoney MFB. Since they pay upfront interest, I make sure I compound the interest and make do with the remaining change. Ọmọ ọgbọ́n!

davit:
This has been my approach since I joined Fairmoney MFB. Since they pay upfront interest, I make sure I compound the interest and make do with the remaining change. Ọmọ ọgbọ́n!

What is their interest rate?