ednut1:
516 naira a month on 100k

madness

normal day to day trading will turn 100k into 500k in a year if used well

crayfish is cheap at oron, sells for almost twice it price in ABJ

Palm oil and many other stuff, yield good profit

mini importation sef?

----
for those who are good with online stuff
crypto trading etc
indices trading etc will give u 10% + a month easily if you know your onions

ednut1:
Any one saving in a savings account is a mumu.

Pls how and why?

EtihadAirways:
Open Micro Pension Account and thank me later

Please shed more light. Thank you

.

FBN Quest

Investment arm of First Bank Nig Plc

The best for me

..
.

MeeLan:
and if such power bank overheat and explode, ..... Hmmmmmm

How many of your phones have over heated and exploded?
This is not a smart question to ask sir. It would have been much more engaging if you had ask of safety measures we put in place to forestall such hazards. Cheers!

bolajigold:
Stanbic IBTC mutal funds all day long. 11.2% (as of yesterday) daily interest

It's not practicable. Confirm their calculations and you will come down!

OP needs to do more research. Fidelity high yield savings gives 4.5-6%. 4.5 is the minimum

ednut1:
Any one saving in a savings account is a mumu.

how please? elucidate me nwanne.

Fidelity bank own na to dey deduct money from person account anyhow.

Ucbiu:
Savings interest is HARAM

lol! those guys that were tempted to do MMM but couldnt and out of jealousy had to campaign for it to shutdown

True, I have this account.

grosy:
stanbic max yeild give u 6.2%

ednut1:
516 naira a month on 100k

Okokobioko

Omonigeriarere:


If I can't get a rate that is higher than TB rates of CBN, why disturbing myself?

Realistically, I sometimes get up to 12,000 naira in month for running my savings accoiwwa222unt. I think it's a good deal.

Banks are nothing but legalized ponzi schemes robbing peter to pay themselves while leaving pennies for peter in the name of interest.

Going by the current rate of inflation if the CBN interest rate is less than 10% then keeping FD is of little or no appeal

frugal:

Not necessarily. Stanbic gives 6.2% for accounts 100k & above. 4.2% below 100k. Paid out monthly. But their mutual money funds is a wiser option if you have plenty money you're not using.

please to my understanding
6.2% of 100,000 is 6200.

do you mean to say one will receive 6200 monthly?
please make me understand in lame mans terms how this is calculated.
say a savings of N2m

mightiersa:

Realistically, I sometimes get up to 12,000 naira in month for running my savings accoiwwa222unt. I think it's a good deal.

savings?

Sam0:
Fidelity bank own na to dey deduct money from person account anyhow.

but same fidelity banks pays me monthly

ednut1:
516 naira a month on 100k

pls how did you come to this calculation?
i thought he meant monthly, which should be 6200

hartson:
Bros,why you dey vex like this na?
First Bank gives me 6% over N500,000 FD which GT is giving @ mere 3%.

sir is is this monthly or yearly?

Skyebank, now Polaris gives interest monthly

farem:


Please shed more light. Thank you

Micro Pension is an account with Pension Fund which you can open as a self employ or working class, it is similar to Pension account but this account is more like fixed deposit, but it generate higher interest rate especial when you decided to move from Fund I to another Fund, Micro Pension generate interest on daily basis and the unit price is 2.50, the only issue is that you can't withdraw everything if you are less than 50 years, you can withdraw 40% and leave the rest. If you have 200k in Micro Pension account, in less than 3 years it will generate another 100k or 150k if not more than

grosy:
stanbic max yeild give u 6.2%

hi please help explain, the 6.2% is it 6.2% of the initial capital?

Oh

EtihadAirways:


Micro Pension is an account with Pension Fund which you can open as a self employ or working class, it is similar to Pension account but this account is more like fixed deposit, but it generate higher interest rate especial when you decided to move from Fund I to another Fund, Micro Pension generate interest on daily basis and the unit price is 2.50, the only issue is that you can't withdraw everything if you are less than 50 years, you can withdraw 40% and leave the rest. If you have 200k in Micro Pension account, in less than 3 years it will generate another 100k or 150k if not more than

Thanks.
I think fund 1 is the ultimate. Every one is placed on fund 2 from Pencom.

Which one is "move from Fund I to another Fund, Micro Pension"?

Kindly talk on Fund 1 and Micro Pension.
Thanks

frugal:

Not necessarily. Stanbic gives 6.2% for accounts 100k & above. 4.2% below 100k. Paid out monthly. But their mutual money funds is a wiser option if you have plenty money you're not using.

That's not true. Stanbic is giving like 4%

charlesELIKIBA:

pls how did you come to this calculation?
i thought he meant monthly, which should be 6200

interest is per annum

jacksol:

That's not true. Stanbic is giving like 4%

I detest blind argument. They have a website. Interest rates fluctuate everywhere.

ednut1:
interest is per annum

that is 6200 in a year for 100k above?

is this a savings account?

farem:


Thanks.
I think fund 1 is the ultimate. Every one is placed on fund 2 from Pencom.

Which one is "move from Fund I to another Fund, Micro Pension"?

Kindly talk on Fund 1 and Micro Pension.
Thanks

Sorry FUND II is the default,

maybachmusic:


madness

normal day to day trading will turn 100k into 500k in a year if used well

crayfish is cheap at oron, sells for almost twice it price in ABJ

Palm oil and many other stuff, yield good profit

mini importation sef?

----
for those who are good with online stuff
crypto trading etc
indices trading etc will give u 10% + a month easily if you know your onions

But then again, we're discussing savings with interests, not investments or businesses. There's no guarantee on business earnings. You can lose your capital + profit and go into serious debt. It happens everyday.