dicksonadams:
Dudes need help oh, i am not understanding....I did a TBill for 500k on Tuesday 2nd of May 2017, but today 5th of May I was only debited for 407,553.97...aint they suppose to remove 500k and credit me with the interest? can someone explain how this things work?...Would really appreciate...first timer's story

NL1960:


If they debit you with 500,000 and then credit you with 92446.03, the difference will be a debit of 407,553.97. So, instead of carrying out two transactions on your account, why not just one single transaction of a debit of 407,553.97. Different banks have different ways of arriving at the same amount to be debited. Some debit the net amount straight way while others debit the principal amount and then credit the upfront interest.

DInkMan:


Alerted now, 18.54%, 364 days
Stanbic

N

davit:


I have received alert too but dont know the exact percentage. I invested 1m for 364 days and was debited

N

815,107.95. I was also charged other handing fees up to 1k. Care to help calculate the percent? How much will I also get back in my account at the end of the tenor
cc: NL1960 zamirikpo

walexy14:


Always try to make findings b4 commenting pls .From Experience pple like you don't even have 5kobo to invest. For your information !!!

Rosabon Financial Services is a member of the Concept Group and long standing member of the Equipment Leasing Association of Nigeria (ELAN). Licensed by the Central Bank of Nigeria, CBN on April 22, 1993, the organization has evolved into Nigeria’s leading Financial Intermediary and Equipment Leasing firm focused on niche and general markets.

Our work draws on over 24 years of experience in the field of finance management, tailoring our lease, loans and investment offerings to meet the needs of our customers .
Over the years we have received various awards (Local and International) for our outstanding work in the industry, some of which are: African Financial Quality Service Loans Award for best practice in Equipment Leasing, Corporate Venturing and Treasury Management 2014, given by the Institute for Government Research and Leadership and Best SME Financial Advisory Nigeria, 2015 by Capital Finance International, an affiliate of World Bank and International Finance Corporation.

olujaidi:


nope. Depends on whats available. Some banks also limit your options to 3 tenors

FBN has a variety including the fantastic 18% for 63 days!

NL1960:


I = PTR / Days in Year * 100

P = Principal = 1,000,000

T = 364

I = 1,000,000 - 815,107.95 (Discounted Amount) = 184,892.05

Days in Year = 364

R = Rate = ? (Unknown)

I = PTR / 36400

R = I * 36400 /(P * T)

R = 184892.05 * 36400 / (1000000 * 364)

R = 6730070620 / 364000000

R = 18.489205

R = 18.49 %

dicksonadams:
Dudes need help oh, i am not understanding....I did a TBill for 500k on Tuesday 2nd of May 2017, but today 5th of May I was only debited for 407,553.97...aint they suppose to remove 500k and credit me with the interest? can someone explain how this things work?...Would really appreciate...first timer's story

slimany:


Sir, how many days and which bank did u use.

opomulero:
Please gurus in the house what is cash call, how it works and interest rates.?

inze:


. . . Your interest has already been paid to you. That's the difference between your initial 500 and 407. At end of tenor, you'll receive 500k.

favoured247:
bro which branch of first bank has this fantastic rate of 18% for 63days? the first bank in my town doesn't have it. I was der yesterday.

olujaidi:

Ikoyi.
It could have been sold out though

opomulero:



House help please?

asbanko:
Secondary market is becoming more lucrative and interesting.
The wait for two weeks is gradually fading away. You can now reinvest your upfront the next or same day you got it.
The minimum outlay for investment in TB is also becoming slimmer.
More longer tenors are now available through the secondary market.
Invest today and get your upfront today is now in vogue through this same secondary market.

I reinvested my upfront the same day I got it at 18.5%/ 349days, got another upfront that same day. Waiting till Monday to reinvest this upfront again until coz today is Saturday. I have turned this to habit. Doing this makes me enjoy the true yield of about 23% and the miracle of compound interest. This is cool, I guess!

FBN isn't a bad bank for the kind of investment. Yet to experience what happens at Stanbic bank though.

TB becomes an investment window in

!

asbanko:
I think you might be asking about Call deposit and not Cash call.

Cash call is a kind of Joint Venture agreement between IOCs (Oil Companies) and the NNPC (FG).

Call deposit has been explained in the house, if that's what your enquiries are all about.

Just go back a bit to educate yourself more on the "subject matter".

Houstency:


Works similarly like Fixed deposit, the only major difference from FD is that you can withdraw your cash at any time without incurring FD charges for not holding on before end of your FD tenor. Also it's not a tenor-base deposit like FD. Profits on it ain't large, except you place large sums of money on CD(though you get to gain something on your money than leaving it in a savings account with its conditions for making profit).

How?
Simply walk into your bank and ask them you want to place your cash on call deposit ( Normal Fixed deposit paper, you only tick and fill the column for call deposit), and ask them to give you their call deposit rates ( For Stanbic bank, if you are observant enough you may likely see the rates of FD, CD and even Tbills on a T.V screen), it differs based on the amount you want to place on hold.

I can't find my paper that contains FD and CD rates for Stanbic. You could plead with the person in charge to give you a copy(As it ain't allowed for public consumption).

Normal simple interest calculation is used, only note that time is in day(s), over 365days.

Best Regards

opomulero:
Please gurus in the house what is cash call, how it works and interest rates.?

asbanko:
Secondary market is becoming more lucrative and interesting.
The wait for two weeks is gradually fading away. You can now reinvest your upfront the next or same day you got it.
The minimum outlay for investment in TB is also becoming slimmer.
More longer tenors are now available through the secondary market.
Invest today and get your upfront today is now in vogue through this same secondary market.

I reinvested my upfront the same day I got it at 18.5%/ 349days, got another upfront that same day. Waiting till Monday to reinvest this upfront again until coz today is Saturday. I have turned this to habit. Doing this makes me enjoy the true yield of about 23% and the miracle of compound interest. This is cool, I guess!

FBN isn't a bad bank for the kind of investment. Yet to experience what happens at Stanbic bank though.

TB becomes an investment window in this recession. Let's make use of it.

Cheers!

amjustme2:


I am pushing the upfront right away into another investment that will yield about 40% in 140 days. I just focus on my work, while residual income drops.

Comeandcollect:
I am interested to know the investment that will fetch 40% in 140 days.
Is it Ponzi

ihedioramma:
Is posible now but you are the one to do it by your self .