₦airaland Forum

henrymor:
Hi fam,

A friend of mine invested 1.8m in treasury bills for 6 months via GTB and got 90k as interest (5%). November is when the contract will end and he is looking to reinvest the money again. But the problem is that seeing the comments of people here he feels he was cheated by GTB. Please, what do you suggest he do? Which strategy will make him get more interest?

Thank fam!

Primary or secondary rates?
The rate was somewhere btw 10-11% for him to get 90k at 6 months.

Thanks for the response bro. It's the secondary rate. But if it is 10% then the interest should be 180k. Or is there a way they calculate it?

enque:
Primary or secondary rates?
The rate was somewhere btw 10-11% for him to get 90k at 6 months.

henrymor:
Thanks for the response bro. It's the secondary rate. But if it is 10% then the interest should be 180k. Or is there a way they calculate it?

Your friend got the correct upfront interest.
1.8m for 6 months at 10% should be 90k. Your friend got 10% and some fractions, if you factor in the charges.

Best place to be

henrymor:
Thanks for the response bro. It's the secondary rate. But if it is 10% then the interest should be 180k. Or is there a way they calculate it?

The 10% is for a year. Half a year will give you half of the 10%.

C505:
Hello house.

Someone mentioned a few pages back that he reinvested his interest so that at the end of the tenor, he gets a bit higher than the supposed interest. I tried to dig that page out but don't want to waste too much time digging.

I want to know if that happened in primary or secondary cos after my maturity yesterday, I did secondary today and proposed to reinvest the interest but she said it's pro rata and since buying stops by 1pm, there's no way to reinvest the interest.

Since I didn't have in depth knowledge of how he did his, I accepted the norm and still proposed my interest with the fave value be paid at the end of the tenor but they paid me my interest.

I really hate collecting this interest upfront hence, I want advice from papas in the building

i believe if u dont collect interest upfront, it would be reinvested and the interest on that as well would be reinvested, the circle goes on until the last 1,000 or so. perhaps that person only recorded the first interest and not other tiers of interest. hence s/he believed the interest was more than expected.


n.b i am just saying, never reinvested my interest before.
i dey use my upfront solve immediate need.
government must fund my basic necessity in this country.

i advise people to buy tbills in good rate at high principal, that way u can always use the interest to buy new inverter batteries every year to have constant power supply. pay your house rent until u build your own sponsor your kids to good schools et al without hassles. maintain ur vehicle at top shape once every year.

henrymor:
Thanks for the response bro. It's the secondary rate. But if it is 10% then the interest should be 180k. Or is there a way they calculate it?

1 yr = 12 months = 180k
6 months = 90k

If he subscribed for 1 yr, he wld hv gotten 180k

deepwater:
i believe if u dont collect interest upfront, it would be reinvested and the interest on that as well would be reinvested, the circle goes on until the last 1,000 or so. perhaps that person only recorded the first interest and not other tiers of interest. hence s/he believed the interest was more than expected.


n.b i am just saying, never reinvested my interest before.
i dey use my upfront solve immediate need.
government must fund my basic necessity in this country.

i advise people to buy tbills in good rate at high principal, that way u can always use the interest to buy new inverter batteries every year to have constant power supply. pay your house rent until u build your own sponsor your kids to good schools et al with hassles. maintain ur vehicle at top shape once every year.

For some funny reasons, I've done a couple of tbills with SIbtc but not for once have they reinvested my interest even when I've never really like collecting upfronts and after even indicating it in the letter.

Does anyone who invest in Stanbic and doesn't want upfronts experience the same issues?

For those who never experienced this, is it an ok option to change branch?

C505:
For some funny reasons, I've done a couple of tbills with SIbtc but not for once have they reinvested my interest even when I've never really like collecting upfronts and after even indicating it in the letter.

Does anyone who invest in Stanbic and doesn't want upfronts experience the same issues?

For those who never experienced this, is it an ok option to change branch?

I don't think stanbic bank reinvests interest. What I normally do is that I receive the interest and then reinvest it in the next primary market.

If you don't want to wait for the next primary market, you can reinvest the interest in secondary market the following day. It'd just mean that you'll have to visit the bank twice.

What bank?

Boyhood:
They even tried for you giving you peanuts. For me,they don't give me Kobo rather they deduct some charges that I don't even understand. Now I prefer leaving my money in mutual funds than to leave it in the conventional bank account.

deepwater:
i believe if u dont collect interest upfront, it would be reinvested and the interest on that as well would be reinvested, the circle goes on until the last 1,000 or so. perhaps that person only recorded the first interest and not other tiers of interest. hence s/he believed the interest was more than expected.


n.b i am just saying, never reinvested my interest before.
i dey use my upfront solve immediate need.
government must fund my basic necessity in this country.

i advise people to buy tbills in good rate at high principal, that way u can always use the interest to buy new inverter batteries every year to have constant power supply. pay your house rent until u build your own sponsor your kids to good schools et al with hassles. maintain ur vehicle at top shape once every year.

Gbam. Abeg, dey help us sing am to your fellow females as most of them do not understand.

How do someone invest in primary market

Akannigbabe:
How do someone invest in primary market

Walk into any branch of bank where your account is domicile, ask for Tbills primary market auction form from the customer care unit . You will be attended to. Note if you want to participate in this week primary auction you have to do that latest by tomorrow morning. Otherwise you wait for another two weeks. Tbills primary auction is done fortnightly.

NL1960:
Gbam. Abeg, dey help us sing am to your fellow females as most of them do not understand.

them dey tell person?

i once denied a friend slay mama the opportunity to charge her phone in my house.

she think say i been dey play as usual.

how can u come to my house to charge phone unto say u wan track your delivery guy wey dey bring Guerlain products for you and you do not have any investment anywhere. "not even a gen set" .

Kwantinu

Boyhood:
Check here
https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick

appreciated

iamadonis2:
Hello, guys

I've overworked my brain trying to calculate figures since morning. I want to access a bank loan to reinvest in treasury bills.

Is this a wise move?

Will I ultimately be on the losing side of this equation?

I was thinking I'd apply lateral thinking here.

Banks typically charge 1.75% interest per month. How about you think of businesses that can give you more than that in a month or way over 21% p.a?

This is open to the house too.

emmasoft:
Walk into any branch of bank where your account is domicile, ask for Tbills primary market auction form from the customer care unit . You will be attended to. Note if you want to participate in this week primary auction you have to do that latest by tomorrow morning. Otherwise you wait for another two weeks. Tbills primary auction is done fortnightly.

pls who s doing this tbill via mail and he's using stanbic ibtc
I need ur help. I'm tired of going to d bank and the option of mail is the only one left and even after filling the indeminity form, I still can't purchase tbills via mail. The primary auction is Wednesday ,I need to get this done before Wednesday and I can't make it to the bank as am far away

Analysts Foresee Slight Decline in T-Bills Stop Rates
https://businesspost.ng/economy/analysts-foresee-slight-decline-in-t-bills-stop-rates/

The Treasury department of Rosabon Financial Services (32 Montgomery road Sabo yaba Lagos) offers Treasury Products that are immune to inflation risks and backup with securities of investment. check out my signature to contact me if ur interested. www.rosabon-finance.com

NL1960:
Gbam. Abeg, dey help us sing am to your fellow females as most of them do not understand.

So u mean to say every body on this forum are male abi?. Change ur mentality about females, all of them arent slaying. Even some of them slaying still do so with their senses intact.

Hallenjay:
pls who s doing this tbill via mail and he's using stanbic ibtc
I need ur help. I'm tired of going to d bank and the option of mail is the only one left and even after filling the indeminity form, I still can't purchase tbills via mail. The primary auction is Wednesday ,I need to get this done before Wednesday and I can't make it to the bank as am far away

I use Gtb, firstbank, stanbic, uba and access bank. I be ashawo for banks because I do not tolerate their insensitivity towards money. I send mail to all of them requesting for rate and the highest usually get my money. Mind u am operating from north America. Infact all my account officers no say I dey straight forward for money issue. So even for midnight, they will take my calls and carry out the instructions very accurately and still answers me yes ma untop the midnight calls.

deepwater:
i believe if u dont collect interest upfront, it would be reinvested and the interest on that as well would be reinvested, the circle goes on until the last 1,000 or so. perhaps that person only recorded the first interest and not other tiers of interest. hence s/he believed the interest was more than expected.


n.b i am just saying, never reinvested my interest before.
i dey use my upfront solve immediate need.
government must fund my basic necessity in this country.

i advise people to buy tbills in good rate at high principal, that way u can always use the interest to buy new inverter batteries every year to have constant power supply. pay your house rent until u build your own sponsor your kids to good schools et al without hassles. maintain ur vehicle at top shape once every year.

At the last part

needful:
I use Gtb, firstbank, stanbic, uba and access bank. I be ashawo for banks because I do not tolerate their insensitivity towards money. I send mail to all of them requesting for rate and the highest usually get my money. Mind u am operating from north America. Infact all my account officers no say I dey straight forward for money issue. So even for midnight, they will take my calls and carry out the instructions very accurately and still answers me yes ma untop the midnight calls.

probably bcs of ur quantity, ds people just de fall hand and I know gtb might treat it because de av d best online customer unlike stanbic . Very lazy idiots.
Now, do de send u the form, u filled,scanned and send bak to dem ?
My questions is d account offr incharge of ur cash ,is he at the headquarter (Lagos) or other of der branches.
I fill imdemenity form at stanbic and I can't still give other through mails because the form was d obstacle, now I filled submitted and nothing change.
Wat am doing wrong I don't know because I know at this time n hour, someone shd be able to purchase a tbill without necessary be In d bank premises.
Any stanbic offr here... Am ready to change my branch close d account down and open a new one, I don't want it read dt I opened d acct from der.
If not for der interest rate, I wud av leave dt place

needful:
So u mean to say every body on this forum are male abi?. Change ur mentality about females, all of them arent slaying. Even some of them slaying still do so with their senses intact.

Honestly i do not understand this your response.

The OP understands my post as she has since responded.

Hallenjay:
pls who s doing this tbill via mail and he's using stanbic ibtc
I need ur help. I'm tired of going to d bank and the option of mail is the only one left and even after filling the indeminity form, I still can't purchase tbills via mail. The primary auction is Wednesday ,I need to get this done before Wednesday and I can't make it to the bank as am far away

Send a mail to your account officer and you will be sorted. When you login to your ibtc bank account online the email address of your account officer is there.

Lots of anger about the new FG increment in VAT, would that also affect t-bills investors? Treasury bill is known to be tax free, although it is not completely tax free, like custodian fee and others we always pay after a successful transaction.

walexy14:
The Treasury department of Rosabon Financial Services (32 Montgomery road Sabo yaba Lagos) offers Treasury Products that are immune to inflation risks and backup with securities of investment. check out my signature to contact me if ur interested. www.rosabon-finance.com

Thats interesting. In the US, only the FG can issue inflation immune securities. I would love to learn more about this

needful:
So u mean to say every body on this forum are male abi?. Change ur mentality about females, all of them arent slaying. Even some of them slaying still do so with their senses intact.

Gbam! We roll in millions, silently we shall make billions legitimately.

Hallenjay:
pls who s doing this tbill via mail and he's using stanbic ibtc
I need ur help. I'm tired of going to d bank and the option of mail is the only one left and even after filling the indeminity form, I still can't purchase tbills via mail. The primary auction is Wednesday ,I need to get this done before Wednesday and I can't make it to the bank as am far away

I was in your shoes last month. Go to Twitter and rant on them. They will solve it within 24hrs

So access bank just told me I need 50m to do primary market, is that so with other bank?

T-Bills Yields Drop 0.06% Amidst Monday's Funding Pressures
https://businesspost.ng/economy/t-bills-yields-drop-0-06-amidst-mondays-funding-pressures/