Fm4real06:
I have a question. Although i dont want to quote any amount. If i invest #x in 91days NTB, at 15% rate. Hw much will i get at maturity.
Is it 15% × #x or

15% × #x x3months??(3/12)

Im confused with this calculation.

Example. Here is a very simplified way i do it:

If you invest 1,000,000 that is N1m for 91 days @17%. Here is how to calculate your discount.

1,000,000 × 17% = 170,000 (that is 1,000,000 x 17 ÷ 100)

170,000 ÷ 365 (because there are 365 days per year or per annum) The idea is to get your daily discount.
So 170,000 ÷ 365 = 465.75

475.75 x 91 days = 42,384.(N42,384 will be your discount of N1m @ 17% for 91 days).

If this is not clear, then go for Fixed Deposit

simplibaba:
I have received my upfront interest from first bank just now and i was given 18.35% for 364 days...

I am not sure you did your calculations well. The actual rate in first bank was 18.4% for 364 days in the primary market. However, after administrative charges, the net rate was 18.115%. Due to the fixed custodian charge of #100 per investment, higher investments above the minimum 100k may reach up to 18.20% or 18.25%.

olujaidi:
Auction results:

91d- 13.5000
182d- 17.5000
364d- 18.5990

Is this for primary or secondary market

Investnow2017:


Example. Here is a very simplified way i do it:

If you invest 1,000,000 that is N1m for 91 days @17%. Here is how to calculate your discount.

1,000,000 × 17% = 170,000 (that is 1,000,000 x 17 ÷ 100)

170,000 ÷ 365 (because there are 365 days per year or per annum) The idea is to get your daily discount.
So 170,000 ÷ 365 = 465.75

475.75 x 91 days = 42,384.(N42,384 will be your discount of N1m @ 17% for 91 days).

If this is not clear, then go for Fixed Deposit

This is the simplest formula to use
I=(PxRxT)/(100x365)

where I=interest
P=Principal(amount invested)
R=Rate(percentage interest)
T=Time (number of days)
This is the easiest I use.

If sum1 invests in a NTB of 91 days, and the person terminates it before the maturity date, will there be any penalty? Wat will the losses or gains be?
Pls i need answer to these question above. I learnt there are no penalties for termination b4 maturity dates in fixed deposit. And there are penalties in NTB??

Bid Rate : 18.443%
364 Days
Primary Market
Successful
StanbicIBTC

Gazelle22:


I am not sure you did your calculations well. The actual rate in first bank was 18.4% for 364 days in the primary market. However, after administrative charges, the net rate was 18.115%. Due to the fixed custodian charge of #100 per investment, higher investments above the minimum 100k may reach up to 18.20% or 18.25%.

Ok

upfront alert just gotten now from sterling bank. base on my calculation, rate na 18.05%

Has FCMB paid anyone?

collinsobinna:
Has FCMB paid anyone?

FCMB na bank?

Fm4real06:
If sum1 invests in a NTB of 91 days, and the person terminates it before the maturity date, will there be any penalty? Wat will the losses or gains be?
Pls i need answer to these question above. I learnt there are no penalties for termination b4 maturity dates in fixed deposit. And there are penalties in NTB??

Please i need answer to dis question. Thanks..

The Federal Government has unveiled plans to raise between N360 billion and N450 billion ($1.18 billion to $1.48 billion) in sovereign bonds maturing between five and 20 years in the third quarter, the Debt Management Office (DMO) has said


Those interested should mop up and get ready.

.

amjustme2:
The Federal Government has unveiled plans to raise between N360 billion and N450 billion ($1.18 billion to $1.48 billion) in sovereign bonds maturing between five and 20 years in the third quarter, the Debt Management Office (DMO) has said


Those interested should mop up and get ready.

at 50% or 60%+ ?

Fm4real06:
If sum1 invests in a NTB of 91 days, and the person terminates it before the maturity date, will there be any penalty? Wat will the losses or gains be?
Pls i need answer to these question above. I learnt there are no penalties for termination b4 maturity dates in fixed deposit. And there are penalties in NTB??

Fm4real06:
If sum1 invests in a NTB of 91 days, and the person terminates it before the maturity date, will there be any penalty? Wat will the losses or gains be?
Pls i need answer to these question above. I learnt there are no penalties for termination b4 maturity dates in fixed deposit. And there are penalties in NTB??

Fm4real06:
If sum1 invests in a NTB of 91 days, and the person terminates it before the maturity date, will there be any penalty? Wat will the losses or gains be?
Pls i need answer to these question above. I learnt there are no penalties for termination b4 maturity dates in fixed deposit. And there are penalties in NTB??

There are penalties in Both...
In fixed deposit, if you terminate before the maturity date,you will be charged 20% from your principal and you will also loose your interest....
In treasury bills,you will loose all your upfront Interest..,you will also be charged a certain percentage from your principal...
It's wise never to terminate Treasury bills or Fixed deposit before maturity.....the penalties are so annoying..
Make your plans well,make sure you have spare finances for emergency situations that may occur...
Treasury bills rocks..,Best interest rates.....And most secured...Unlike fixed deposit that you are at the mercy of your Accounting Officer....
Avoid fixed deposit and thank God later....
Hope this helps...
Happy weekend. ..

Gavrelino123:



There are penalties in Both...
In fixed deposit, if you terminate before the maturity date,you will be charged 20% from your principal and you will also loose your interest....
In treasury bills,you will loose all your upfront Interest..,you will also be charged a certain percentage from your principal...
It's wise never to terminate Treasury bills or Fixed deposit before maturity.....the penalties are so annoying..
Make your plans well,make sure you have spare finances for emergency situations that may occur...
Treasury bills rocks..,Best interest rates.....And most secured...Unlike fixed deposit that you are at the mercy of your Accounting Officer....
Avoid fixed deposit and thank God later....
Hope this helps...
Happy weekend. ..

Thanks a lot. I av gained a lot from this thread. Rather than leave money idle in savings account it is better to do NTB.

Fm4real06:

Please i need answer to dis question. Thanks..

There is always penalty if you terminate early before maturity. Its there in either Time/Term Deposit, Mutual Fund or TB. The penalty in most times is from the interest and it is also dependent on the bank or institution. for example If you fix money in Stanbic IBTC for 30 day and you want to terminate after 5 days you may no get anything as interest whereas in GT some %age (10 or 20%)of the interest for that 5 days is taken as penalty. In Stanbic Mutual Funds interest is paid out on quarterly basis if you want to withdraw before 30 days there is certain %age as penalty from interest but what makes that of TB somehow different is that;( 1) Most times you have already collected your interest upfront if you have already spent it before terminating early there is no way that money money will be complete in your hand again.
(2) Most times before you are refunded, your TB has to be sold to another buyer in the secondary market depending on how urgent you need; it could be sold at a lesser %age in which case your money may not be complete except if the bank has the need and want to absorb your at the same rate..
So its not as if there is a stated penalty per se.. but some times breaching a contract comes with it own effect.

Lol abi na crypto trading?

Lol .

It's likely not going beyond 14%.

ihedioramma:
at 50% or 60%+ ?

Who is going to Argentina or at least Egypt?

Enroute Argentina.. I'll pay a visit to Messi too

amjustme2:
Who is going to Argentina or at least Egypt?

elog:
Enroute Argentina.. I'll pay a visit to Messi too

There is political unrest in Egypt. And as for Argentina, i dont think there money have much value when converted to naira.

I hope this help anyone. I did mine with first bank 2 days ago.
Tenor Rate
120 = 16.5
113 = 16.00
106 = 16.00
85 = 14.00
92 = 14.00

jp130:
upfront alert just gotten now from sterling bank. base on my calculation, rate na 18.05%

Hope you can now see why we "ported" to STANBIC which gave about 18.44%?

TONY56:


Hope you can now see why we "ported" to STANBIC which gave about 18.44%?

Mehn, i had to open an account with them yesterday. It was so easy and stress free.

vitality22:

Mehn, i had to open an account with them yesterday. It was so easy and stress free.

Pls wat was dir requirements?

yomi007k:


Pls wat was dir requirements?

Passport photograph, means of I.d (valid), fill their form shikena.

yomi007k:

Pls wat was dir requirements?

They requested for: -2 passport photos -Drivers licence or voters card or intl passport or national ID card -2k naira and above. -BVN number i later got the account number as an sms from the bank.

vitality22:

Mehn, i had to open an account with them yesterday. It was so easy and stress free.

That's good and you will soon see that the difference is "7up". They will only debit your account with the discounted amount and you get both sms alerts and email notifications, and if you want the hard copy, you'll get it on request

Their bid for last auction for the 91-day tenor was exactly the CBN stop rate of 13.5% which I got from them and usually, their bids are mostly the closest to ALL CBN stop rates followed by First Bank.

MOM1:
I hope this help anyone. I did mine with first bank 2 days ago.
Tenor Rate
120 = 16.5
113 = 16.00
106 = 16.00
85 = 14.00
92 = 14.00

#200,000 at 92 Days at 14% how much will it be ?

vitality22:

They requested for:
-2 passport photos
-Drivers licence or voters card or intl passport or national ID card
-2k naira and above.
-BVN number
i later got the account number as an sms from the bank.

ok...tnx

deepwater:


Passport photograph, means of I.d (valid), fill their form shikena.

wow...tnx

Hello guyz, has anyone done TB business in d last one week with GTB? I applied about a week ago and they keep telling me stories I don't understand. I'm sure u guys know d kind of stories they usually tell. Something like they haven't been able to get from d secondary market or so. I just don't understand what they were precisely saying but d bottom line is dat I've not been debited and still hoping dat it would be successful next week. Any advice?