first bank be doing like they are customer friendly, requested part of my investment yesterday,

received it today.

tolajay:
What is the average interest on a N1.5m Investment in MMF over 15 years?

This is of interest in comparison to a leasing/rental portfolio a friend shared with me recently.

There can be no average interest over that amount of years due to the dynamic nature of the economy and other factors that influence ( oil price, FPIs, CBN monetary policy etc).

rationalmind:
Axas website has been erratic since the upgrade

You log in and click investments, rather than display the portfolio summary, it logs out. The process has to be repeated numerous times before the PS can be accessed.

The rate on display is still that of Monday 19-08-2019. No idea what the rate was for yesterday and today.

If the new platform isn't working, they should just rollback to the former and fix snags on this new one.

Even up till now. Let's give them till next week. If you contact them, it will still be their usual alibi.

nna777:


Even up till now. Let's give them till next week. If you contact them, it will still be their usual alibi.

They sent a mail on it earlier in the day. Maybe they saw my post

Hello House, how does one get the log in details to monitor his investment in Stanbic app?

Hello, I have read some pages of this thread but I have a question.

Let's say one invests 500k in Stanbic MmF today, what's the daily interest like?

Sorry if this is a 'novice' question.

rationalmind:


They sent a mail on it earlier in the day. Maybe they saw my post

please what was the content of the mail as I didn't receive any. Abi is the mail only for those with investments of #1billion upwards?

nna777:


please what was the content of the mail as I didn't receive any. Abi is the mail only for those with investments of #1billion upwards?

Haha, no make me laugh abeg. If I get 1bn, I won't have time for nairaland


"Dear Customer,
Please accept our sincere apologies if you have experienced some difficulty while accessing our digital platforms recently.
We regret all inconveniences caused and are working overtime to restore normal service as quickly as possible.
If you have any concerns or wish to get in touch with us, kindly contact our 24/7 Contact Centre via:
Email: ccare@axamansard.com

Logging into my stanbic app is problematic today. Anybody with same challenge?

igbizen:
Logging into my stanbic app is problematic today. Anybody with same challenge?

Same here but i was able to log in at about 11pm

eleojo23:
Hello, I have read some pages of this thread but I have a question.

Let's say one invests 500k in Stanbic MmF today, what's the daily interest like?

Sorry if this is a 'novice' question.

Let's assume the rate is 12%. Interest for one day = 500,0000*12*1/100*365 which gives you N164.38
ie simple interest divided by 365 days

emmasoft:

Let's assume the rate is 12%. Interest for one day = 500,0000*12*1/100*365 which gives you N164.38
ie simple interest divided by 365 days

So for a whole year, the interest on 500,000 is 59,998.7?

He'll get 559,998.7 at the end of the year??!

Very poor if you ask me

Daddybomboy:


So for a whole year, the interest on 500,000 is 59,998.7?

He'll get 559,998.7 at the end of the year??!

Very poor if you ask me

You think so? then take your money to the bank and do fixed deposit I am sure you will be well guided thereafter.

How can a bank be so cruel, giving me 6% for 91 days fixed deposit of 5M. They will hear from me next week.

igbizen:
How can a bank be so cruel, giving me 6% for 91 days fixed deposit of 5M. They will hear from me next week.

You should have known better. You follow the NTB thread don't you?

emmasoft:

Let's assume the rate is 12%. Interest for one day = 500,0000*12*1/100*365 which gives you N164.38
ie simple interest divided by 365 days

Thanks for the explanation

olujaidi:


You should have known better. You follow the NTB thread don't you?

I normally leave a certain amount on FD for emergency investments. Any money I put in TB is permanent savings.

olujaidi:


You should have known better. You follow the NTB thread don't you?

Before now it use to be 10%. They just dropped to 6%.

igbizen:

Before now it use to be 10%. They just dropped to 6%.

Maybe the sum invested was less than 1m. An MMF is still a decent option provided they credit you same day

emmasoft:

You think so? then take your money to the bank and do fixed deposit I am sure you will be well guided thereafter.

My point is, I'll start a business with 500k and in 12 months, I'll have over 3 million naira in cash/assets (excluding OPEX)

Daddybomboy:


My point is, I'll start a business with 500k and in 12 months, I'll have over 3 million naira in cash/assets (excluding OPEX)

Note that investing in Mutual funds and operating a business are two different money growing windows and each serves its purpose hence you hear such slogans in investment environments "spread your risk" The usual thing is: low risk low returns and vice versa. Even in business. All businesses carry their risks and with different level of returns. The usual safe practice is to venture into an investment that your risk appetite can take.

Daddybomboy:


My point is, I'll start a business with 500k and in 12 months, I'll have over 3 million naira in cash/assets (excluding OPEX)

For a business owner, it might be best to see it as a savings plan or business/personal emergency fund.

I understand you have alternative uses for your funds and you know how to manage the risks in your business but you need a fallback because you cannot foresee what can go wrong. You might also have future capital outlay for machinery or vehicles for which you need to set aside funds periodically instead of running upandan to raise funds when the time comes.

Daddybomboy:


My point is, I'll start a business with 500k and in 12 months, I'll have over 3 million naira in cash/assets (excluding OPEX)

You are talking about 500% profit in 12 months!
What legal business is that?

pls if I invest 500k in a yr wit mmf what is my intereste for one yr

Hello great minds, I belong to a club of group of friends(Old Students) and we are looking at possible ways of investing the club funds in low-to-no risk investment vehicle and Mutual Fund comes to mind. We have a structure in place whereby we rotate leadership positions(Treasurer, President, Vice President etc).

How would you advise we go about Mutual Fund investment and still adequately put proper checks and balance in place for accountability purpose?

Your responses will be highly appreciated.

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Has anybody use I-Invest here before if yes, what did you see about there platform. I think they promise a very good interest rate on there treasure bills packages. Please for those that have been using the platform what can you say about them?

Please does FBN quest have account number so that one can Transfer money for mutual funds?

henrinco:
Please does FBN quest have account number so that one can Transfer money for mutual funds?

I need the account number too to top up via online transfer.

I heard it is faster this way

What’s the best way to add funds to the FBN MMF portfolio?