Mfunkynation:

my oga, that is the method am operating now til when TB will move back to it glory days.. I cannot come and kill myself ontop small TB% oooo... God forbid!
Instead, let my small change stays in my akant jare!!

that because you are a rational investor and a deep thinker ....Nigerians and bandwagon effect even when saving accounts interest is 80 above 90 tbills yet due to lack of .....u still bid 3 percent generating oppurnity lost and destabilizing the market for everybody

ahiboilandgas:
that because you are a rational investor and a deep thinker ....Nigerians and bandwagon effect even when saving accounts interest is 80 above 90 tbills yet due to lack of .....u still bid 3 percent generating oppurnity lost and destabilizing the market for everybody

@ahib always good to hear from u. Stanbic just gave out collateral free loans to some savings account holders. I didn't qualify aha. Dnt in a the criteria used. Wonder if u heard about it

zamirikpo:


@ahib always good to hear from u. Stanbic just gave out collateral free loans to some savings account holders. I didn't qualify aha. Dnt in a the criteria used. Wonder if u heard about it

i no hear , they are trying to meet the CRR by cbn several of my friend's collected fron zenith without collateral but this group have very high cash flow from clearing and forwarding activities

What bank gives you 4.5% for savings account.
There are a variety of reasons why people do TB, one of those reasons is to mop up their cash so that it is not readily available for temptation to be used.
With present day Nigeria, not many people want their account to be always showing its true value, TB helps you hide cash legitimately.

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

Agreed. Let me tweak your figures for greater accuracy. 30% of MPR @13.5% is 4.05%. After deduction of withholding tax, you'll be left with around 3.6% p. a. Maybe slightly more if you compound it. Plus, you still have your cash available to take advantage of other opportunities.

ojesymsym:
What bank gives you 4.5% for savings account.
There are a variety of reasons why people do TB, one of those reasons is to mop up their cash so that it is not readily available for temptation to be used.
With present day Nigeria, not many people want their account to be always showing its true value, TB helps you hide cash legitimately.

You can still do an MMF

Bros, we de do all of them. Even mutual rates have been going down and expectedly so. As long as TB is down, all others will go down because that is what they usually use the money to invest in anyway.

olujaidi:


You can still do an MMF

ojesymsym:
What bank gives you 4.5% for savings account.
There are a variety of reasons why people do TB, one of those reasons is to mop up their cash so that it is not readily available for temptation to be used.
With present day Nigeria, not many people want their account to be always showing its true value, TB helps you hide cash legitimately.

This is exactly why I did 182 days at 3.5% last week.

I may be tempted one day to take the money and buy a new Benz. It's better I don't see it in my account.

Also, these fraudsters are doing a lot these days.

See what IBTC is doing now

ojesymsym:
What bank gives you 4.5% for savings account.
There are a variety of reasons why people do TB, one of those reasons is to mop up their cash so that it is not readily available for temptation to be used.
With present day Nigeria, not many people want their account to be always showing its true value, TB helps you hide cash legitimately.

how do u mean ? I got 80k this morning from a teir 1 bank as interest on a saving accounts , an investor is an investor even if 1 bn dey the accounts he cant be tempted by frivolous things .....investment capital is your sustainance , then u have your expenditure accounts to cover 3 months bills ...only t.b of a year above 6 is manageable

Grupo:


This is exactly why I did 182 days at 3.5% last week.

I may be tempted one day to take the money and buy a new Benz. It's better I don't see it in my account.

Also, these fraudsters are doing a lot these days.

you are yet to fully develop as an investor , an investor spends on items that return capital and profits , the profits pay for the temptation...dangote bought a jet for 50m dollars and handed over to his newly incorporated airline company and lease if to dangote group as priority customer ...they generate funds and run the jets profitability...

ahiboilandgas:
how do u mean ? I got 80k this morning from a teir 1 bank as interest on a saving accounts , an investor is an investor even if 1 bn dey the accounts he cant be tempted by frivolous things .....investment capital is your sustainance , then u have your expenditure accounts to cover 3 months bills ...only t.b of a year above 6 is manageable

Stanbic savings account is currently 4.05 , which bank gave you 4.5?

Sach:

Exactly!!!!!! I know they do not accept cash for mutual funds, I have their naira mutual funds. I deposited usd cash in my own Dom acc to transfer to their Dollar fund but they refused.

I had same problem earlier in February with GTB. I had some USD in my USD dorm account and wanted to add more to transfer to United Capital/Invest-now for Eurobond Investment. I requested for a USD deposit and transfer forms but was given only the deposit form. The teller instantly told me that they no longer accept USD transfers between Nigerian banks. That USD transfers can only happen now if I am transferring to a bank abroad.

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

the only reason is impulsive buying attitude & human wants.
it is readily available when it is in savings account. i will rather leave fund in FD, MMF or TB.
Only running expenses or contingencies cash should be left in savings acct.

kristien4:
Stanbic savings account is currently 4.05 , which bank gave you 4.5?

typo probably

ahiboilandgas:
how do u mean ? I got 80k this morning from a teir 1 bank as interest on a saving accounts , an investor is an investor even if 1 bn dey the accounts he cant be tempted by frivolous things .....investment capital is your sustainance , then u have your expenditure accounts to cover 3 months bills ...only t.b of a year above 6 is manageable

N80K?! seems you have about N1Billion in that account

Mizwisdom:


N80K?! seems you have about N1Billion in that account

go collect your tuition fees back from your university..4 percent of 1 bn is 80 k ? Ko weldone

ahiboilandgas:
go collect your tuition fees back from your university..4 percent of 1 bn is 80 k ? Ko weldone

Stone

Mizwisdom:


N80K?! seems you have about N1Billion in that account

Nooo about N24 million will do...

Shot down with the quickness.

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

4.5% Monthly?

Chai! I have been missing o.

Please, Which savings account is that? Make I rush go open am first thing on Monday morning.

OgogoroFreak:
4.5% Monthly?

Chai! I have been missing o.

Please, Which savings account is that? Make I rush go open am first thing on Monday morning.

opps 4.5 percent annually paid monthly...

ahiboilandgas:
opps 4.5 percent annually paid monthly...

Oh, no! You just make me happy for nothing

ahiboilandgas:
go collect your tuition fees back from your university..4 percent of 1 bn is 80 k ? Ko weldone

.

For someone that has such money you are very petty, I hope it isn't audio because your character doesn't match your Acct Balance. That said, I didn't bother to do the Maths, just assumed it was a monthly interest (if the bank didn't place a limit on the amount you can save) , roughly placed it between N500 to N1 billion, it shouldn't be a reason to mock or call my certificate to question. Grow up.

Mizwisdom:

.

For someone that has such money you are very petty, I hope it isn't audio because your character doesn't match your Acct Balance. That said, I didn't bother to do the Maths, just assumed it was a monthly interest (if the bank didn't place a limit on the amount you can save) , roughly placed it between N500 to N1 billion, it shouldn't be a reason to mock or call my certificate to question. Grow up.

very audio....na play i dey play with u no vex ....but several billionaire no get certificate AA rano , Azman , innosa

Mizwisdom:

.

For someone that has such money you are very petty, I hope it isn't audio because your character doesn't match your Acct Balance. That said, I didn't bother to do the Maths, just assumed it was a monthly interest (if the bank didn't place a limit on the amount you can save) , roughly placed it between N500 to N1 billion, it shouldn't be a reason to mock or call my certificate to question. Grow up.

Going by your moniker Mizwisdom you should have been wise enough by doing your homework before authouritatively quoting a figure.

N1 billion at 4% per annum will give about N3.3 million interest every month

Grupo:


John, go to the order health section and create a thread. Don't come here to cause panic.

This is not panic, but the truth.

ahiboilandgas:
go collect your tuition fees back from your university..4 percent of 1 bn is 80 k ? Ko weldone

The question I asked you, you know answer, you leave my question go dey find trouble. .. abeg answer me...

kristien4:
Stanbic savings account is currently 4.05 , which bank gave you 4.5?

First tier banks are First Bank, UBA, GTB, Access Bank and Zenith Bank

kristien4:
The question I asked you, you know answer, you leave my question go dey find trouble. .. abeg answer me...

gtb

Almost all banks pay up to 4% interest on savings accounts as long as you don't withdraw more than three times a month.

Grupo:
Almost all banks pay up to 4% interest on savings accounts as long as you don't withdraw more than three times a month.

first bank is 3%