First time bank rate with Stanbic..... failed me. Anywais i opted for secondary market 12% better than nothing, better than few weeks ago when we were struggling with 7....8%.

I'm new to this TBills.ill like to ask some questions
Does anyone have an idea about about FBN rate?
Also, does GTB accept below #1M for T Bills?
About the issuance certificate\letter,will it be issued immediately or I'll have to go back to the bank for it?

That's good.

Stanbic is transforming into a rogue bank, my bid didn't go through yet they held my money since Tuesday in their ledger balance.

ukay2:



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

PLEASE DO BID FOR YOURSELF NEXT TIME

MrTour:

That's good.

Stanbic is transforming into a rogue bank, my bid didn't go through yet they held my money since Tuesday in their ledger balance.

Na tru Sir ...4days holding of ones fund without interest no be beans..

Please bid for yourself next time

Gurus in the house, please advise. I tried to do tbills in gh a a Nigerian but I was told they do not sell to foreigners. I wa advise to do fixed deposit instead at 14.24 for three months. Meanwhile I figured 91day tbills in nig I 15percent plus. Do you advise I transfer the money back to home and get the tbills?

Please @feelamong assist me with this.

Jessglam:
Gurus in the house, please advise. I tried to do tbills in gh a a Nigerian but I was told they do not sell to foreigners. I wa advise to do fixed deposit instead at 14.24 for three months. Meanwhile I figured 91day tbills in nig I 15percent plus. Do you advise I transfer the money back to home and get the tbills?

Please @feelamong assist me with this.

Please transfer the money to naija and enjoy the high NTB rates currently.....just send the money to your naija bank and instruct your bank on the auctions-91; 182 & 365 days you want with the rate you want with STANBIC IBTC Bank or go with the bank rate with GTB, FBN , eco bank or any other naija banks you have...

Timmi:
Got 17.5% for 364-days with an Investment house

Skye Bank gave 18.05% for 364daya....

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

Try Skye bank they move with better rate

Is there anyone one on this thread who has terminated t-bills before maturity. And if one is to do that, how do you go about it?

Biakwa:


Skye Bank gave 18.05% for 364daya....

Really?

exclusiveoloori:
Is there anyone one on this thread who has terminated t-bills before maturity. And if one is to do that, how do you go about it?

This is as simple as A-B-C

Simply write a letter to your bank requesting for a termination/liquidation.

ukay2:



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

PLEASE DO BID FOR YOURSELF NEXT TIME

Cool

My bid for 182 @17% too was successful. I am so happy that I took the risk of bidding for myself this time with Stanbic.

Looping: feelamong, sammily, MrTour

Do you have a bank account? Do you have a valid residence permit? Its not true that foreigners cannot buy TB in Ghana.

Jessglam:
Gurus in the house, please advise. I tried to do tbills in gh a a Nigerian but I was told they do not sell to foreigners. I wa advise to do fixed deposit instead at 14.24 for three months. Meanwhile I figured 91day tbills in nig I 15percent plus. Do you advise I transfer the money back to home and get the tbills?

Please @feelamong assist me with this.

Thanks a lot

ukay2:



Please transfer the money to naija and enjoy the high NTB rates currently.....just send the money to your naija bank and instruct your bank on the auctions-91; 182 & 365 days you want with the rate you want with STANBIC IBTC Bank or go with the bank rate with GTB, FBN , eco bank or any other naija banks you have...

I have a work permit and a bank account also. I used stanbic IBTC Bank in ghana.

walexlo78:
Do you have a bank account? Do you have a valid residence permit? Its not true that foreigners cannot buy TB in Ghana.

Its simple but remember he already has interest paid before maturity. If you have done it before, can you explain to him the charges he could face, for example if he invested N100k, how much he is likely to get back after charges.

Cheers.

40manlappy:


This is as simple as A-B-C

Simply write a letter to your bank requesting for a termination/liquidation.

Rosabon Treasury Note ( RTN) is just for you! The RTN is a fixed deposit account that guarantees higher interest rate and a flexible investment plan. not only are you availed with highly competitive rates, you also get the opportunity to negotiate your interest rate on all deposits .www.rosabon-finance.com or my signature for more details

I have bought several times from ecobank. Its not their business of who you are. Just collect the form, fill and submit. If any issue, escalate to their manager. They want to force you in FD vs 25% rate of TB.

Jessglam:
I have a work permit and a bank account also. I used stanbic IBTC Bank in ghana.

Are you Ghanaian?
Do you bid for yourself?

walexlo78:
I have bought several times from ecobank. Its not their business of who you are. Just collect the form, fill and submit. If any issue, escalate to their manager. They want to force you in FD vs 25% rate of TB.

Royal155:
See money doubler

Bros, you get razor mouth!

Ihavespoken:

Its simple but remember he already has interest paid before maturity. If you have done it before, can you explain to him the charges he could face, for example if he invested N100k, how much he is likely to get back after charges.

Cheers.

Okay sir

@exclusiveoloori: Let us assume that the face value of your investment is N100,000 and your discounted value is N95,000 (the actual amount that you were debited upon a successful bidding at the primary auction, remember, you have earned an upfront interest).

The difference between the value of the bill and the amount you pay for it is called the discount rate, and is set as a percentage. In the example above, the discount rate is 5 percent, because N5,000 is 5 percent of N100,000.

When you apply for termination/liquidation of a treasury bill technically known as "rediscounting", the bank sells your investment in the secondary market but you will lose a portion of your interest depending on the rediscounting rate at the time of your application and the duration that you have held the investment.

If you have held the instrument till maturity, your account would have been credited with N100,000. But now that you are not waiting till maturity date, what you will get is a function of the rediscounting rate that will be applied.

Once the bank gets a buyer at the secondary market, you should be notified for your concurrence upon which the deal will be sealed and your account credited subsequently with the proceeds of the treasury bill liquidation.

My experience: I did a 91 day TB in mid-June; the bank had bidded for me at 7.350%. When I noticed that rates were going up, I considered liquidating to invest at a better rate. I did that last week just in time for the primary auction of August 3rd. Guess how much I lost when my TB was rediscounted? Just N840.16 plus N300 transaction fee!

This is a paltry sum compared to the fact that I quoted my own rate of 17% for the bidding and won. I have to thank the gurus in the house who encouraged me to take this risk, especially feelamong.

Hope the above clarifies your enquiry.

40manlappy:




Bros, you get razor mouth!

My brother u no follow see that money doubling explanation wey that my chairman give? D whole tin tire me ooo! lol

When i responded to your text that i have bought severally through ecobank, you should know am not Ghanaian, I filled the form myself but went with the bank rate. However the form had field for indicating stop rate.

Jessglam:

Are you Ghanaian?
Do you bid for yourself?

That's interesting and you were quite lucky.

In your case, the bank used the interest accrued from June till July on your investment to raise the bid rate (they bidded for you at 7.3% but with your interest it could have been raised to 9.5% to attract a new buyer).

In essence you sacrificed your interest for two months and N840 to get the new 17%. Anyone willing to terminate theirs and have held the investment for a short period say a week or two will potentially lose part of the capital

40manlappy:


Okay sir

@exclusiveoloori: Let us assume that the face value of your investment is N100,000 and your discounted value is N95,000 (the actual amount that you were debited upon a successful bidding at the primary auction, remember, you have earned an upfront interest).

The difference between the value of the bill and the amount you pay for it is called the discount rate, and is set as a percentage. In the example above, the discount rate is 5 percent, because N5,000 is 5 percent of N100,000.

When you apply for termination/liquidation of a treasury bill technically known as "rediscounting", the bank sells your investment in the secondary market but you will lose a portion of your interest depending on the rediscounting rate at the time of your application and the duration that you have held the investment.

If you have held the instrument till maturity, your account would have been credited with N100,000. But now that you are not waiting till maturity date, what you will get is a function of the rediscounting rate that will be applied.

Once the bank gets a buyer at the secondary market, you should be notified for your concurrence upon which the deal will be sealed and your account credited subsequently with the proceeds of the treasury bill liquidation.

My experience: I did a 91 day TB in mid-June; the bank had bidded for me at 7.350%. When I noticed that rates were going up, I considered liquidating to invest at a better rate. I did that last week just in time for the primary auction of August 3rd. Guess how much I lost when my TB was rediscounted? Just N840.16 plus N300 transaction fee!

This is a paltry sum compared to the fact that I quoted my own rate of 17% for the bidding and won. I have to thank the gurus in the house who encouraged me to take this risk, especially feelamong.

Hope the above clarifies your enquiry.

Ihavespoken:

Its simple but remember he already has interest paid before maturity. If you have done it before, can you explain to him the charges he could face, for example if he invested N100k, how much he is likely to get back after charges.

Cheers.

Nobody has ever taken time to advise or trash out this premature liquidation of NTB and its related charges. Does it mean that nobody in Nigeria has ever done it?

40manlappy:


Okay sir

@exclusiveoloori: Let us assume that the face value of your investment is N100,000 and your discounted value is N95,000 (the actual amount that you were debited upon a successful bidding at the primary auction, remember, you have earned an upfront interest).

The difference between the value of the bill and the amount you pay for it is called the discount rate, and is set as a percentage. In the example above, the discount rate is 5 percent, because N5,000 is 5 percent of N100,000.

When you apply for termination/liquidation of a treasury bill technically known as "rediscounting", the bank sells your investment in the secondary market but you will lose a portion of your interest depending on the rediscounting rate at the time of your application and the duration that you have held the investment.

If you have held the instrument till maturity, your account would have been credited with N100,000. But now that you are not waiting till maturity date, what you will get is a function of the rediscounting rate that will be applied.

Once the bank gets a buyer at the secondary market, you should be notified for your concurrence upon which the deal will be sealed and your account credited subsequently with the proceeds of the treasury bill liquidation.

My experience: I did a 91 day TB in mid-June; the bank had bidded for me at 7.350%. When I noticed that rates were going up, I considered liquidating to invest at a better rate. I did that last week just in time for the primary auction of August 3rd. Guess how much I lost when my TB was rediscounted? Just N840.16 plus N300 transaction fee!

This is a paltry sum compared to the fact that I quoted my own rate of 17% for the bidding and won. I have to thank the gurus in the house who encouraged me to take this risk, especially feelamong.

Hope the above clarifies your enquiry.

Thanks bro for the clarification. How much was the original bid and which bank did you transact with?

Looking forward to next bid.

tormjerry:
I'm new to this TBills.ill like to ask some questions
Does anyone have an idea about about FBN rate?
Also, does GTB accept below #1M for T Bills?
About the issuance certificate\letter,will it be issued immediately or I'll have to go back to the bank for it?

Please,can someone help address this post
Cc: feelamong

tormjerry:

Please,can someone help address this post
Cc: feelamong

Read the first 10 pages of the thread. Or even the last few pages. The questions you asked have been dealt with several times

Please, what were the last stop rates for the different tenors?

I have a question to ask, feelamong your input will be highly appreciated. my questions goes thus

Say for example I want to invest 10,000naira and the discounted rate is 10%. I know fully well that the bank will debit 9000 and leave 1000 as the upfront interest right? Well, what if I had ONLY 9000 in my account but in my t.bills form I wrote a bid of 10,000naira knowing fully well it's just 9000 that will actuallu be debited, do you think the bid will be successful. Because I am thinking of playing a fast move that may pay off nicely.

Incase you still don't get my questions: lemme make a story
Say Mr chuks walks to the bank to invest in t.bills and on his form he wrote that he will like to invest with the sum of 110,000 naira at a discount rate of 10%. He knows if his bid is successful the government will just debit 100,000 and pay him 10,000 upfront interest. But the thing is mr chuks has just the exact 100,000naira that will be deducted, nothing more nothing less. So Will his bid be successful, yes or no?

Advice is needed.