please house can I get a list of Banks that let you choose your own rate?

sammily:
My NTB for 182 and 364 days didn't fly with First bank, and I went with their bank rate as usual. They just refunded my money

I'm left now with Stanbic, I bidded myself (17% for 182 days and 18% for 364 days) but yet to be debited.

I think from the news that I read. It is like there was over subscription in excess of 245b. The awareness is growing.

SuccessGee:



I dont think there`s any difference between investment houses and banks. They are all out there to make the money.

Huge difference bro!

Gtb 365 days 17.18%

Did anyone here buy 91days thru gtb, if yes please what's d rate?

elega:
Did anyone here buy 91days thru gtb, if yes please what's d rate?

14.18, just got debited

elega:
Did anyone here buy 91days thru gtb, if yes please what's d rate?

14.9%
[color=][/color]

sammily:
My NTB for 182 and 364 days didn't fly with First bank, and I went with their bank rate as usual. They just refunded my money

I'm left now with Stanbic, I bidded myself (17% for 182 days and 18% for 364 days) but yet to be debited.

FBN consummated my bid for 182 days. Funny indeed.

[quote author=Rotiix post=48190652] 14.18, just got debited Ok, thanks.

[quote author=Rotiix post=48190652] 14.18, just got debited Ok, thanks.

Willie2015:


FBN consummated my bid for 182 days. Funny indeed.

Lucky you, what rate did you get?

Their bidding failed. My money way refunded...very annoying

johnhack:

i don't know ooo. I used first bank and normally you cannot bid in first bank. you must go by dia rate. I hope dia rate is up to 15% for 91 days. I hv also be debited but no credit alert yet.

Looks like 14% based on the debit i saw today. Will verify from the investment letter. That rate which is the bank rate seems poor, i hope its their primary bid rate. Last successful bid rate was 14.14% so still do not get it how GT will bid 14% and stop rate ended at 15.44% yesterday. Bidding below last successful bid with all indicators, should their treasury team not be scrapped if this is where all their market intelligence could take them.

elega:
Did anyone here buy 91days thru gtb, if yes please what's d rate?

presiade:

14.9%
[color=][/color]

Rotiix:

14.18, just got debited

Guys, why are we getting different rates for same 91days tenor at GT. Thought everyone goes with bank rate at GT?

LuzSp:


I'm leaning towards porting to Stanbic IBTC (I prefer forms to letters, always!) or any other primary dealer. I've got 'till end of September.

@bolded: You will still be required to write a letter in support of the forms.

vinnyvinny:
. Stanbic insist I must open a current account rather than savings for NTB. Pls is that the case for those using Stanbic.

I used my savings account to bid through them.

Someone is trying to meet current account targets there

Got 17.5% for 364-days with an Investment house

Please correct me if I'm wrong

If you buy tb of 10 Million for 91 days @ 10%.

At the end of the tenure you will have 1million gain.

Now you have 11million excluding fees

Now let's say you buy another 91 days with your 11 Million ( 10 + 1).

At the end of the 91 days you will have 1.1 million gain

Now you have 12.1 million in approximately 182 days.


But if you decided to invest that your initial 10 million for 182 at say 18%

You will have 1.8 million at the end of 182 days as gain

Meaning you will have 11.8 million as you total cash in the 182 days tenure.

Conclusion

You get 12.1 million for investing in two consecutive 91 days (182) tenure at 10% interest rate


And you get 11.8 million for investing in 182 days tenure at interest rate of 18%


My question is this; is it not best to be investing in 91 days tenure than 182 days and more.

Please correct me if I'm wrong with my calculations

The rate is 10% per annum not 10% per 91days
So pro-rate that 10%

Dannylng:
Please correct me if I'm wrong

If you buy tb of 10 Million for 91 days @ 10%.

At the end of the tenure you will have 1million gain.

Now you have 11million excluding fees

Now let's say you buy another 91 days with your 11 Million ( 10 + 1).

At the end of the 91 days you will have 1.1 million gain

Now you have 12.1 million in approximately 182 days.


But if you decided to invest that your initial 10 million for 182 at say 18%

You will have 1.8 million at the end of 182 days as gain

Meaning you will have 11.8 million as you total cash in the 182 days tenure.

Conclusion

You get 12.1 million for investing in two consecutive 91 days (182) tenure at 10% interest rate


And you get 11.8 million for investing in 182 days tenure at interest rate of 18%


My question is this; is it not best to be investing in 91 days tenure than 182 days and more.

Please correct me if I'm wrong with my calculations

Dannylng:
Please correct me if I'm wrong

If you buy tb of 10 Million for 91 days @ 10%.

At the end of the tenure you will have 1million gain.

Now you have 11million excluding fees

Now let's say you buy another 91 days with your 11 Million ( 10 + 1).

At the end of the 91 days you will have 1.1 million gain

Now you have 12.1 million in approximately 182 days.


But if you decided to invest that your initial 10 million for 182 at say 18%

You will have 1.8 million at the end of 182 days as gain

Meaning you will have 11.8 million as you total cash in the 182 days tenure.

Conclusion

You get 12.1 million for investing in two consecutive 91 days (182) tenure at 10% interest rate


And you get 11.8 million for investing in 182 days tenure at interest rate of 18%


My question is this; is it not best to be investing in 91 days tenure than 182 days and more.

Please correct me if I'm wrong with my calculations

This kind of thoughts have been raised many times on this thread.
For 91days you divide your interest by 4.
For 182days you divide it by 2.

So for your example if 10million @ 10% for 91days, what you get is 1m/4 = 250k

Please read through the thread. Most of the questions has been answered.

Dannylng:
Please correct me if I'm wrong

If you buy tb of 10 Million for 91 days @ 10%.

At the end of the tenure you will have 1million gain.

Now you have 11million excluding fees

Now let's say you buy another 91 days with your 11 Million ( 10 + 1).

At the end of the 91 days you will have 1.1 million gain

Now you have 12.1 million in approximately 182 days.


But if you decided to invest that your initial 10 million for 182 at say 18%

You will have 1.8 million at the end of 182 days as gain

Meaning you will have 11.8 million as you total cash in the 182 days tenure.

Conclusion

You get 12.1 million for investing in two consecutive 91 days (182) tenure at 10% interest rate


And you get 11.8 million for investing in 182 days tenure at interest rate of 18%


My question is this; is it not best to be investing in 91 days tenure than 182 days and more.

Please correct me if I'm wrong with my calculations

See money doubler

feelamong:


Are you talking about their Guaranteed Investment notes Linked to FGN bonds?

I think the rate is still constant... it was at 13.75 the last time I checked!

,OK do u Still Invest with dem??

walexlo78:


Guys, why are we getting different rates for same 91days tenor at GT. Thought everyone goes with bank rate at GTi?

I specified my minimum rate for them.

Hellooooo i dove for gurus in this house, please am new here, pls i don't have much understand NTB,but with the little thread have been reading on this platform it seems am getting it gradually .so please guru's in d house i like u to guide me,please how much is minimum use in starting up ntb,and what's d fist step to take..watin4 your direction gurus...thanks

Feelamong pls E-mail me all i need know about TB am new in this platform thank. My e-mail,abrahamphilip398@gmail.com

Dear All, based on Presiade's comment that means GT fall among lists of banks where you can bid with your own rate.

presiade:


I specified my minimum rate for them.

Father1988:
Feelamong pls E-mail me all i need know about TB am new in this platform thank. My e-mail,abrahamphilip398@gmail.com

_{What is the usefulness of your phone with google search? Lazy people: na only facebook, whatsaap, twitter etc dem go they use their phones for ! Anyway let me help you small: -}


[b]What are T-Bills?
T-Bills are government guaranteed debt instruments issued by the Central Bank of Nigeria to control money supply in the economy.

Where can I buy T-Bills?
T-Bills can be bought through any official dealer. The easiest will be through your bank.

What is the minimum amount I can buy?
You can buy for as low as N1, 000 and in multiples of N1,000 thereafter. However, banks typically accept minimum purchases of N100,000 or more. I advise a minimum of N100,000 monthly or N1m annually.

When are they it usually sold?
T-Bills is sold every other Wednesday (bi-weekly) as announced by the CBN. The CBN announces issuances in their websites and in the pages of the newspaper. You can also ask your bank account officer to notify you ahead of an issuance.

How can I buy T-Bills?
To buy T-Bills you will have to approach your bank requesting for a form. You fill the form with your personal information also indicating the amount you want to buy as well has your stop rate. If you are not sure of a rate, you can choose that advised by your bank.

What is the stop rate?
The stop rate (AKA Bid rate) is the interest rate that you are willing to receive for the principal that you are investing in the T-Bills. For example you can indicate an interest rate of 10 per cent as your expected interest rate and hope that it is selected, as it will most likely be different from that of other intending buyers.


How is the stop rate selected?
The CBN selects the bids that fall below the accepted marginal rates. The Marginal Rate is the minimum average rate for bids submitted within a bid window. For example if the marginal bid rate for a bid opened Wednesday September 4 is 11 per cent then bids falling below this rate will be accepted and those above rejected.

Can I still buy if my bid is rejected?
You can purchase T-Bills from the secondary market Over the Counter through a broker. This is also where buyers and sellers of T-Bills trade the notes in exchange for cash.

When is the interest paid?
The interest element of T-Bills is paid to you upfront and credited to your bank account. For example, if you purchase a N100,000 T-Bills with an interest rate of 10 per cent, the CBN debits your account with N90,000 as such your N10,000 interest is paid up front. Upon maturity, you are paid the face value N100,000. The upfront payment of your interest makes your true yield actually higher.

What is a true yield?
True Yield is your actual return on investment. Using the example above, the initial yield for the N100,000 is 10 per cent. However, because they pay you interest upfront your true yield is actually the N10,000 in interest divided by the N90,000 actually deducted from your account. That is N10,000/N90,000 0r 11.11 per cent. This is thus higher than the 10 per cent coupon. The true yield is completely earned when you hold to maturity.

Can I roll over my investment?
The CBN does not rollover your investment automatically. However, you can give your bank a mandate to rollover the principal and interest on your T-Bills upon maturity. Reinvesting the income on TB’s provides the unique benefits of compounding interest.

What are the durations (tenor) for the T-Bill?
Tenors are usually for 91days, 182days and 364 days. Therefore, if you invest for say 91days, your investment will mature after three months etc.

Can I sell before maturity?
Yes you can sell T-Bills before maturity through the OTC market based on the forces of demand and supply. For example a N100,000 face value TB maybe selling for less or more depending on the yield expectation of the buyers. If your face value is trading at a higher price, it means you can sell your treasury bills at a profit as such your N100,000 can sell for N101,000 or more. If your face value is trading at a lower price, it means you can sell your treasury bills at a loss as such your N100,000 can sell for N99,000 or less.

Are T-Bills safe?
T-Bills are one of the safest forms of investment and are backed by the full faith and credit of the Federal Government of Nigeria.

Apart from the Interest rates, what are the benefits?
•A good source of steady stream of income.
•They are a good investment outlet for your free and disposable cash
•T-Bills are good investments for people who wish to save
•Income from T-Bills are also tax free
•T-Bills are considered liquid and can be converted to cash quickly
•They can be used as a collateral


[/b]

presiade:

I specified my minimum rate for them.

walexlo78:
Dear All, based on Presiade's comment that means GT fall among lists of banks where you can bid with your own rate.

Officially GTB do not allow you to choose your rate.

My account officer in Stanbic IBTC has informed me that the bank's bid did not go through because it was above the stop rate. Meaning, all those who went with the bank rate will not be debited as their bids are unsuccessful.

But customers who placed their own rate that falls below the stop rate, went through.

Thanks for the enlitment...

munezo:
My account officer in Stanbic IBTC has informed me that the bank's bid did not go through because it was above the stop rate. Meaning, all those who went with the bank rate will not be debited as their bids are unsuccessful.

But customers who placed their own rate that falls below the stop rate, went through.

STANBIC IBTC BANK DEBITED ME 30MINNUTES AGO...I BIDDED FOR MYSELF @17% FOR 182DAYS.

PLEASE DO BID FOR YOURSELF NEXT TIME

Same here, got a debit from Stanbic for the NTB. I also bedded by myself. But I lost out with FBN.

I hope the rates still remains by fortnight.