Which Online Bank Is Best For Receiving Interest On Savings - Business (3)

Which Online Bank Is Best For Receiving Interest On Savings - Business (3) - Nairaland

Nairaland Forum › Nairaland General › Business › Which Online Bank Is Best For Receiving Interest On Savings (12934 Views)

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Re: Which Online Bank Is Best For Receiving Interest On Savings by phoenix45(m): 6:12pm On May 08

do fairmoney just like others said. No go do mutual funds wey go give you high bp

bejeria101:
Wow this makes sense.

I have been looking for something like this.

Use the interest to do running around instead of leaving the money for the banks to keep deducting.

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by Toluabigr8(m): 6:39pm On May 08

TRY STANBIC MUTUAL FUND, THEIR INTEREST IS JUICY

Re: Which Online Bank Is Best For Receiving Interest On Savings by femi4: 6:41pm On May 08

Ade1177:
Putting money in commercial banks

Always lead to unlimited debit for this and that
5k can turn to 4.200 within a blink

So pls which is better also with a good reputation that pays daily or weekly or monthly interest on savings and can save up millions of naira

1. Opay
2. Kuda
3. Renmoney
4. Piggyvest
5. Palmpay
6. Moniepoint

Etc
If there's any good one not above

Pls recommended
Charges have injure my account balance

Used to be piggyvest..I no curent again

Re: Which Online Bank Is Best For Receiving Interest On Savings by porchpromotion: 6:41pm On May 08

Omo na wa Hhhhhgh jjj

Re: Which Online Bank Is Best For Receiving Interest On Savings by porchpromotion: 6:59pm On May 08

Money is key in everything we do

Re: Which Online Bank Is Best For Receiving Interest On Savings by Joshchi19(m): 7:08pm On May 08

opera1:
UBA DOING WONDERS, I RECEIVED 82K INTEREST ON SAVINGS LAST MONTH

Like how much you get for the account?

Re: Which Online Bank Is Best For Receiving Interest On Savings by TunzImole01: 7:57pm On May 08

Piggy

Re: Which Online Bank Is Best For Receiving Interest On Savings by AlvinOO7: 8:37pm On May 08

opera1:
UBA DOING WONDERS, I RECEIVED 82K INTEREST ON SAVINGS LAST MONTH

That’s about 12m in your savings. I got 89k for having 13.7m abandoned there. grin

But, a 10% tax is always deducted on the interest.

3 Likes

Re: Which Online Bank Is Best For Receiving Interest On Savings by raydboi(m): 5:12am On May 09

So ur monthly 89K is before or after withholding tax?

AlvinOO7:
That’s about 12m in your savings. I got 89k for having 13.7m abandoned there.
But, a 10% tax is always deducted on the interest.

Re: Which Online Bank Is Best For Receiving Interest On Savings by zedman1(m): 5:32am On May 09

Palmpay to me, is very good. I transfer any money that gets paid into my access bank account immediately into my Palmpay. I have Opay too, but Palmpay is better.

4 Likes

Re: Which Online Bank Is Best For Receiving Interest On Savings by djavo(m): 7:54am On May 09

Same as PalmPay. They have a ridiculous way of calculating interest and masking it on the guise of paying 20% per annum.

FairMoney @ 14% and Renmoney @ 15% as of this morning. Both are straight forward daily interest calculations, no gimmick no small print calculation!

maasoap:
Opay is not okay at all for interest, people just don't pay attention to how Opay structured their interest rates. If you do, you will realise their scam. Check it below

4 Likes

Re: Which Online Bank Is Best For Receiving Interest On Savings by koolguy88(m): 8:24am On May 09

Branch International finance ltd is the best

Re: Which Online Bank Is Best For Receiving Interest On Savings by kingjayzeelan07: 10:33am On May 09

Hemanwel:
Why not try Mutual Money Market Funds, I have been using the interest they give to pay my children's school fees

how much you put wey go make the interest reach to pay your children school fees? Make we start from there

Re: Which Online Bank Is Best For Receiving Interest On Savings by kingjayzeelan07: 10:35am On May 09

ironheart:
Opay. You see your interest daily. Even if its 500 Naira you have in the account, they notify you of your interest

e get some interest wey dey very annoying. Go dey see interest like 0.60 naira...which kind interest be that one? 😡

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by kingjayzeelan07: 10:37am On May 09*

tanigororo:
How much you put, that pays your children school fee

same question I asked the fellow oo. Interest wey dey pay school fees? You must be dangote na cos that kind money wey go generate school fees go long oo

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by kingjayzeelan07: 10:38am On May 09

Before you talk about interest wey go make you smile, you gats first make better money..like be a multimillionaire cos the higher the money, the higher the interest. No be to come put 5k or 100k, dey talk about interest. Bro, serious na

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by DOD1: 10:41am On May 09

Hemanwel:
Why not try Mutual Money Market Funds, I have been using the interest they give to pay my children's school fees

Re: Which Online Bank Is Best For Receiving Interest On Savings by LUAN1: 12:26pm On May 09

Alcapa:
1.Access Bank HIDA ACCOUNT
2.PALM PAY SMART EARN
3. Fair money

what is HIDA account

Re: Which Online Bank Is Best For Receiving Interest On Savings by Mrexcell(m): 12:52pm On May 09

[quote author=Hemanwel post=139346513]Why not try Mutual Money Market Funds, I have been using the interest they give to pay my children's school fees[/quote Pls i need more details

Re: Which Online Bank Is Best For Receiving Interest On Savings by Mrexcell(m): 12:55pm On May 09

Hemanwel:
Why not try Mutual Money Market Funds, I have been using the interest they give to pay my children's school fees

Pls how do I go about this?

Re: Which Online Bank Is Best For Receiving Interest On Savings by AlvinOO7: 1:19pm On May 09

raydboi:
So ur monthly 89K is before or after withholding tax?

Before..

Re: Which Online Bank Is Best For Receiving Interest On Savings by ironheart(m): 1:35pm On May 09

kingjayzeelan07:
e get some interest wey dey very annoying. Go dey see interest like 0.60 naira...which kind interest be that one? 😡

i thought i was the only one o. But its better than other banks that scams you

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by PlsBanMe: 5:15pm On May 09

You said you don't understand but you have answered already and that means you understand. Do you have any control in the exchange rate?

BannedUser:
I don't understand what you mean by "reduce".
The only thing that can reduce your money is the USD exchange rate. 1.5 mil can give you around 50k/month on MiniPay. If you can run multiple wallets and have enough liquidity, you can rake in 1 mil per month on MiniPay.

Re: Which Online Bank Is Best For Receiving Interest On Savings by sheystar(f): 7:59pm On May 09

Try fair money, Their savings interest is okay

Re: Which Online Bank Is Best For Receiving Interest On Savings by Mjshexy(f): 6:46am On May 10

STANBIC MUTUAL MONEY MARKET is the best at the moment.

Re: Which Online Bank Is Best For Receiving Interest On Savings by Whois(m): 9:26pm On May 10

Fairmoney is bae

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by maasoap(m): 11:10pm On May 11

djavo:
Same as PalmPay. They have a ridiculous way of calculating interest and masking it on the guise of paying 20% per annum.

FairMoney @ 14% and Renmoney @ 15% as of this morning. Both are straight forward daily interest calculations, no gimmick no small print calculation!

The one I even posted about Opay is their fixed deposit, not O'wealth which is even less. Both Palmpay (fixed saving) and FairMoney (Fair lock) annual fixed deposit are 20pc. You're talking Palmpay Cash Box and FairMoney Fair save which have less IR

Re: Which Online Bank Is Best For Receiving Interest On Savings by maasoap(m): 11:23pm On May 11

phoenix45:
A friend that works with fairmoney also told me about it but i don't live in nigeria so they coulnd't allow me to register an account there.
I don't know if i'm the only one facing that issue. I even sent a message to them and they told me they don't support except if you are in nigeria.

I think they should up their game and allow people outside Nigeria to use the app

Re: Which Online Bank Is Best For Receiving Interest On Savings by phoenix45(m): 5:02pm On May 12

I guess it's policy by CBN or internal sha cause there are necessary documents they can request for kyc which solves all this

maasoap:
I think they should up their game and allow people outside Nigeria to use the app

1 Like

Re: Which Online Bank Is Best For Receiving Interest On Savings by Kingrshd3: 5:41pm On May 12

maasoap:
Opay is not okay at all for interest, people just don't pay attention to how Opay structured their interest rates. If you do, you will realise their scam. Check it below

U didn't wait till your free time to withdraw it now ..

That's why u are seeing those tax English everywher

Re: Which Online Bank Is Best For Receiving Interest On Savings by Kingrshd3: 5:42pm On May 12

Mjshexy:
STANBIC MUTUAL MONEY MARKET is the best at the moment.

Must I have an account with them to benefit from it ?

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