₦airaland Forum

yekini007:
What is their Full Requirement for Registration ....?

I've edited my post with the link.

bfn1:
Yes, you can open a mutual fund account by yourself.
https://blunest.stanbicibtcassetmanagement.com/auth/register/

What is their Full Requirement for Registration ....?

yekini007:
Can I register Mutual funds on my own without going to Stanbic Ibtc office...?

YES via https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8

you need have the following
1, BVN
2. NiN or any other means of ID
3. email address
4. ...

bassdow:
YES via https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8

you need have the following
1, BVN
2. NiN or any other means of ID
3. email address
4. ...

Am utility bill stage, my prepaid meter address is a different location and bought through opay? Will it fly?

yekini007:
What is their Full Requirement for Registration ....?

You'll have to start to find out for yourself.
From general idea, just get the following ready in case:
1. Passport photo
2. Email
3. Phone number
4. Account Number
5. BVN
6. National ID
7. Utility bill
8. Sample of signature

Gotocourt:
Am utility bill stage, my prepaid meter address is a different location and bought through opay? Will it fly?

if you got NIN slip, you could use that as all your ID.

bassdow:
if you got NIN slip, you could use that as all your ID.

My NIN address is a different state, abi lemme just upload 🤔. My driver's license carries my present address

bfn1:
You'll have to start to find out for yourself.
From general idea, just get the following ready in case:
1. Passport photo
2. Email
3. Phone number
4. Account Number
5. BVN
6. National ID
7. Utility bill
8. Sample of signature

Can I upload drivers license instead of utility bill because of address?

Gotocourt:
Can I upload drivers license instead of utility bill because of address?

Use your bank statement

Firebox123:
Use your bank statement

Will online statement be accepted?

Gotocourt:
Will online statement be accepted?

Yes 😊

Gotocourt:
Can I upload drivers license instead of utility bill because of address?

YES you can if you have got one. Mind you, just so you know, no one is coming to verify your house address.

KYC Documents and Mutual funds

Please note the following:

For all fund managers and financial institutions generally, any government-issued ID card that bears your address or your bank account statement can serve as proof of address.

You have to maintain the address on the document that serves as your proof of address while filling out your registration form, even if it's not current; otherwise, your application will not go through.

Apart from Stanbic, other fund managers accept a utility bill that bears another person's name, but should not be older than three months.

Ideally, the institution is supposed to visit the address, but they don't, and they also don't correspond with you via physical address; all correspondence with the client is via phone, email, or both.

If you are in diaspora, to avoid notarization, fill out your forms and provide proof of address using all your Nigerian details.

Let's be well guided.

bassdow:
YES you can if you have got one. Mind you, just so you know, no one is coming to verify your house address.

Yeah, I just uploaded my DL. I went to invest now which I was given a Stanbic IBTC account number, I credited 5K make I dey observe. I don't if am still on track as the 5k is yet to reflect 🙏

Gotocourt:
Yeah, I just uploaded my DL. I went to invest now which I was given a Stanbic IBTC account number, I credited 5K make I dey observe. I don't if am still on track as the 5k is yet to reflect 🙏

Your fund reflects the next business day (Monday) since it's a weekend. Same applies if you fund during working days after 12pm or on a public holiday. But already existing fund in your account earns interest every day, including weekends and public holidays

Inflation rate drops to 21.88% The implication

This is actually not a very good news for the fixed income segment.

Ordinarily, lower inflation figures means government expected to pay less for borrowing and the way to do this is to pay less interest in tbills rate, this in turn will reduce the rates MMF offers since the major underlying asset is Tbills

The next MPC meeting may likely reduce the MPR which may further reduce the rates across all the tenors of Tbills.

All things being equal, this is a good news for equity investors because they may begin to channel more funds to equities or equity based funds

However, This is not to say we should stop investing in MMF because every instrument serves its purpose.

Especially for those just starting out (Newbies), the low risk investment terrain is better while you build more confidence before you venture into riskier investment windows.

Remember first consideration is RETURN OF INVESTMENT BEFORE RETURN ON INVESTMENT.

One thing is sure that will land you into your dream portfolio is consistency - never stop investing.

emmasoft:
Your fund reflects the next business day (Monday) since it's a weekend. Same applies if you fund during working days after 12pm or on a public holiday. But already existing fund in your account earns interest every day, including weekends and public holidays

Am stuck here after funding 5K

Gotocourt:
Am stuck here after funding 5K

Don't think you're stuck. Since you just paid 5,000 naira which is yet to get invested, wait till latest Monday evening. After the funds appears on your account, it should change to 86% or similar. This is weekend so the funds wouldn't appear till Monday

Guys, I need link to cowrywise 🙏

emmasoft:
Inflation rate drops to 21.88% The implication

This is actually not a very good news for the fixed income segment.

Ordinarily, lower inflation figures means governemnt is expected to pay less for borrowing and the way to do this is
to pay less interest in tbills rate, this in turn will reduce the rates MMF offers since the major underlying asset is Tbills

The next MPC meeting may likely reduce the MPR which may further reduce the rates across all the tenors of Tbills.

All things being equal, this is a good news for equity investors because they may begin to channel more
funds to equities or equity based funds

However, This is not to say we should stop investing in MMF because every instrument serves its purpose.

Especially for those just starting out (Newbies), the low risk investment terrain is better while you build
more confidence before you venture into riskier investment windows.

Remember first consideration is RETURN OF INVESTMENT BEFORE RETURN ON INVESTMENT.

One thing is sure that will land you into your dream portfolio is consistency - never stop investing.

Eventhough this message echo all my write ups in previous pages of this thread.


"The next MPC meeting may likely reduce the MPR which may further reduce the rates across all the tenors of Tbills."

Eventhough this may likely not happen as many bet MPR will be held like it has been held since since last Quarter of last year,I also follow in this sentiment.


NOTE - Yields and Rates across board will continue to reduce due to falling inflation numbers however, The reason for my sentiment towards cutting MPR is simple: CBN will quickly drive away hot money (foreign investors money) from the economy; Now, this hot money is part of the reason we currently have forex liquidity for the stability of Naira dollar exchange rate.

So you can see, CBN is boxed in, if they need to reduce MPR, it will be slow to do it but Cardoso is in no rush to touch MPR now.

Good afternoon,pls I just want to be sure , I have funded my mmf account last week,is it still the same method of payment I will be using each time I want to fund the account transferring into Union Bank account and writing my E-account as narration, is that the method I will be using always

Hi Guys..
Please has anyone here tried the Access Bank Mutual Funds? What their interest rates like?

heavenisreal18:
Good afternoon,pls I just want to be sure , I have funded my mmf account last week,is it still the same method of payment I will be using each time I want to fund the account transferring into Union Bank account and writing my E-account as narration, is that the method I will be using always

yes same method

bassdow:
The bank you went to ought to have directed you.

If you have gotten your eAccount Number, use the following details to send payment

Bank Name: UBA
Account No: 1023413552
Account Name: UBA NOM FIRST TRUSTEES STANBICIBTC MONEY MARKET FUND-COLLECTION A/C

Kindly ensure you quote your eAccount Number as that's the only way they would know the payment is from you. Would suggest paying just 5,000 naira for now. Later you pay the rest when you have gotten access to your account and can log-in

I paid 5k into a static IBTC account number I saw on my profile with my name 🤔. Hope am on track ?

Gotocourt:
I paid 5k into a static IBTC account number I saw on my profile with my name 🤔. Hope am on track ?

YES

Thank you once again for putting me through, so I have this question,will I be getting back my capital and interest after 30days automatically in the account or I will have to make withdrawal myself.

If I need money before 30days can I make withdrawal

How are you guys using this Blunest platforms, my God it is terrible....the web is terrible, the app is even worse. I opened both cowry and Stanbic same day (Friday) going strictly by steps on this thread, my cowry is up and running but this mumu stanbic thing is just giving me a runaround

heavenisreal18:
Thank you once again for putting me through, so I have this question,will I be getting back my capital and interest after 30days automatically in the account or I will have to make withdrawal myself.

If I need money before 30days can I make withdrawal

@heavenisreal18, I advise you to read some earlier pages of this thread; most of your questions will be answered while reading through. It will also help you actually know how MMF works. This is very important so that you will always be well guided.

That being said, MMF is not tenor-based like Tbills or fixed deposit. It's the investor that determines the tenor, ie, your money is in the investment as long as you wish, it can be as short as 30 days or as long as you live.

However, there is a 30-day minimum holding period within which, if you make a withdrawal, you will pay a penalty of 20% of the accrued interest on the amount you are withdrawing; otherwise, you are free to withdraw without any penalty after 30 days.

All funds in and out of your MMF account must be intiated by the investor except if you pick reinvestment of interest then your interest is reinvested automatically, if you pick interest pay out, the interest will also be paid automatically into your bank account at the end of each quarter, outside this, investors must instruct for whatever action to be carried out on your account.