walexlo78:
Hello GT customers, please don't panic about your investment not showing on your internet banking platform, it's the least of things that should worry you. It's a system glitch and you will wàke up one day to see it again. Am sure you would have received an electronic debit àlert and possibly investment statement. One thing you should ensure is to get your investment certificate always done on their letter head. I am a gtb customer for more than 10yrs and deal in TB with them since some years now so I have experienced several including this one.

However, I stopped dealing in TB with them because they started playing games. Example, in the last auction they offered 364days to investors at 18.1% as mentioned here while stanbic offered 18.28% thereabout. That's a big gap, it appears they are making some spread on investors fund because I do not see reason why they would bid this low at 18.1% when the last marginal rate from upper week's bid was about 18.5%.

joseph1013:
Looks like the rates are really dropping. Just left Idejo Branch of Stanbic and I was told a 322-day tenor is 16.9%

joseph1013:
Looks like the rates are really dropping. Just left Idejo Branch of Stanbic and I was told a 322-day tenor is 16.9%

freeman67:


Do not raise an alarm if you av not done comparative analysis of the indices involved. I got 18% for 281 days in FBN yesterday. Secondary market is subject to availability and what the rate the owner/bank would want to give it out. @ least you have to wait and see how primary market fare in the next auction ...

Houstency:


Yes sir.. FBN. Posted my ordeals here , if you scan through earlier pages you get to see it.

omoyankee3:
I read somewhere you can buy through the money makers such as Zenith Bank. Does anybody know wht their fees are, if any?

NL1960:


Haba Oga, na only you wan chop alone?. Allow them also chop small now so that they can pay salaries and not sack workers.

Investnow2017:


Always use First Bank for the Secondary Market.

Stanbic is perfect for the Primary Market.

That is the trick.

You can still get juicy 18% and even + at the Secondary Mkt at First Bank.

walexlo78:
NL1960, I am not against them making legal money. CBN regulation guides all banking operations. They are free to make money on the primary auctions based on the fees, commissions etc but not to make spread more so if other banks are not doing that. For secondary sales they are making as they want because they determine the sales price to the investor. Can you imagine how much money they make on the TB volume base?

Investnow2017:


You spoke my mind.

NL1960:


The blame for that should go to the CBN that changed the rules to 50m minimum. With 50m, you can specify your own rate. Anything less than that, you are at the mercy of the banks. The bank can easily refused doing TB for a person saying that you do not have the minimum amount of 50m specified by CBN. The 50m minimum gave the upper hand to the banks. I got 18.1 from GTB. If i was doing 50m, i would have specified my own rate. Btw, do you know if GTB bids at that rate in order to avoid not succeeding in the auction?. Remember it is an auction. If GTB comes back and tells you for instance that they bidded 18.8 and failed, iam sure you will want to cut their heads for failing.

Partnerbiz3:


Please

If I invest say 1 million in T bills for 365 days at say 18% and I terminate after 60 days, what's likely to be my penalty?

Partnerbiz3:


Please

If I invest say 1 million in T bills for 365 days at say 18% and I terminate after 60 days, what's likely to be my penalty?

RealityShot:
~5% fine on your interest earned..

you will earn about 30k in 60days..

so you walk with ~28,500 profit after deductions

i wonder why you choose to get fined when you can put same amount in a mutual fund and get zero fibe after 60days? Hmm..

RealityShot:
~5% fine on your interest earned..

you will earn about 30k in 60days..

so you walk with ~28,500 profit after deductions

i wonder why you choose to get fined when you can put same amount in a mutual fund and get zero fibe after 60days? Hmm..

Investnow2017:


Somebody posted the below earlier:

no money is "deducted" from your Capital.

the deduction is done on your Interest earned so far.

you have earned about 200k after 5 months..

If you terminate now, you will be charged ~5% on that 200k gained.

So 3m - 10k = 2.99m will be returned to you.

Therefore you still make ~190k overall.
NO CAPITAL LOSS

FOR TERMINATION:
go back to the officer who did the TBills for you and tell him you want to terminate.

Partnerbiz3:


If the penalty is 5%, is it not better to invest I million in 365 days at 18% and terminate after 91 days than to invest same 1 million for 91 at 15 % from the outset.

I feel it's more profitable despite the penalty.

emmanuelewumi:


You can trade below N50 million in the primary market. I bought N1.5 million in the last primary market through first bank.

All the first bank branches in Lagos island will even accept 100k for primary market.

Partnerbiz3:


f I invest say 1 million in T bills for 365 days at say 18% and I terminate after 60 days, what's likely to be my penalty?


Freeman67

Feelamong

jpphilips:


Though they ask you to wait till the primary auction date, it is still the secondary market, ask for the charges break down, you will realize the rates differ if you have ever done primary market purchase before the CBN embargo.

Investnow2017:


Somebody posted the below earlier:

no money is "deducted" from your Capital.

the deduction is done on your Interest earned so far.

you have earned about 200k after 5 months..

If you terminate now, you will be charged ~5% on that 200k gained.

So 3m - 10k = 2.99m will be returned to you.

Therefore you still make ~190k overall.
NO CAPITAL LOSS

FOR TERMINATION:
go back to the officer who did the TBills for you and tell him you want to terminate.

RealityShot:
~5% fine on your interest earned..

you will earn about 30k in 60days..

so you walk with ~28,500 profit after deductions

i wonder why you choose to get fined when you can put same amount in a mutual fund and get zero fibe after 60days? Hmm..

feelamong:


In Treasury Bills ..there is no fixed penalty. The bills are just sold off into the market at the best prevailing rate they can get.

Thats why it could be traded on.....if the prevailing interest rate is favourable you could even get capital appreciation when you decide to break your Tbills early

Investnow2017:


Somebody posted the below earlier:

no money is "deducted" from your Capital.

the deduction is done on your Interest earned so far.

you have earned about 200k after 5 months..

If you terminate now, you will be charged ~5% on that 200k gained.

So 3m - 10k = 2.99m will be returned to you.

Therefore you still make ~190k overall.
NO CAPITAL LOSS

FOR TERMINATION:
go back to the officer who did the TBills for you and tell him you want to terminate.

emmanuelewumi:


The charge will be the prorate of the remaining 7 months from the interest earned.

Assuming you earned 120k upfront interest for a year or 12 months and want a premature termination after 5 months, the investor will automatically lose 70k excluding some other charges

feelamong:


In Treasury Bills ..there is no fixed penalty. The bills are just sold off into the market at the best prevailing rate they can get.

Thats why it could be traded on.....if the prevailing interest rate is favourable you could even get capital appreciation when you decide to break your Tbills early

Investnow2017:


Somebody posted the below earlier:

no money is "deducted" from your Capital.

the deduction is done on your Interest earned so far.

you have earned about 200k after 5 months..

If you terminate now, you will be charged ~5% on that 200k gained.

So 3m - 10k = 2.99m will be returned to you.

Therefore you still make ~190k overall.
NO CAPITAL LOSS

FOR TERMINATION:
go back to the officer who did the TBills for you and tell him you want to terminate.

Gavrelino123:

Have anyone also noticed that Bank transfer Charges for TB that used to be 300 naira have been reduced to 100 naira....!!!
I'm not talking about Commission or VAT..
Though with GTBANK

adegokekemi:

#300 with Stanbic in the last auction

Gavrelino123:

Wow it's still very fair and nice @AdegboKekemisi.
I'm just wondering why the changes,though it's positive..
GTBANK Customers,have you notice the Changes..?
#100 naira charges for TB tranfer which was previously #300.?

Partnerbiz3:


Do you mean something like FBN or Stanbic Mutual MMF?
Any difference between MMF (Money market fund and Mutual fund?