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I have this lump sum i plan to use next year, so i decided to Fixed it Up but the percentage am getting from commercial banks is below 10% while a Microfinance bank is offering me 12%.

How secure is FD with Microfinance bank?

prestige2013:
I have this lump sum i plan to use next year, so i decided to Fixed it Up but the percentage am getting from commercial banks is below 10% while a Microfinance bank is offering me 12%.

How secure is FD with Microfinance bank?

you simply dont know what to do with the money thats why you opened a fixed deposit account. the bank is actually the one benefiting not you. have you heard of bitcoin before?

Spetzzy7:
you simply dont know what to do with the money thats why you opened a fixed deposit account. the bank is actually the one benefiting not you. have you heard of bitcoin before?

The money is for Business and presently am running a program that will lapse by July/August 2018. Based on d mode of business- i cant control the two together unless i want ppl to squander my resources. so instead of being fallow in bank. i want to use it for FD for a year when i will be ready to manage my Biz.

Will advice you opt for treasury bill,you will get 17 - 18% running one with diamond bank at the moment also zenith bank too can assist also interest is paid upfront.

Buy Treasury bills, gives you a better ROI. I would advise you against investing in microfinance bank, except for some few like LAPO etc that are grounded. The rest might just go under or elope with your money...

phrancys001:
Will advice you opt for treasury bill,you will get 17 - 18% running one with diamond bank at the moment also zenith bank too can assist also interest is paid upfront.

How do i start the T bills? kindly help with the procedures for a Beginners, is it always available through out the year?
Thanks

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prestige2013:
How do i start the T bills? kindly help with the procedures for a Beginners, is it always available through out the year?
Thanks

firstly come to this thread its a wealth of information https://www.nairaland.com/878880/treasury-bills-nigeria I knew nothing about Tbills some months ago but now I can say I can hold my own

Stanbic offers are better Fixed Deposit- 13% stanbic MMF - 18% which is still secure as Treasury bills of 18.25%.

Can you please explain this further

prestige2013:
Stanbic offers are better
Fixed Deposit- 13%
stanbic MMF - 18% which is still secure as Treasury bills of 18.25%.