₦airaland Forum

You are welcome, bro.
pls any mmf now that comfortably pays 20% and above?

Recommend any Good mmf now that comfortably sits above 20% and above in interest,

Thanks

Creditalerts:
Attending to issues offline.

what is the current interest rate on piggyvest now?

suckprick:
Piggyvest has better interest rate but mmf has flexibility of withdrawing anytime (after first 1 month).

Are you sure?

Care4:
Check well, that's likely before they deduct their fees.

Hahahaha 🤣 🤣 🤣 🤣 🤣

Thazard:
Sorry all.

I was misinformed.


It's at 15.8% per annum

so what's their interest rate as at today??

I mean piggyvest safelock??

Thazard:
Instead of this fluctuations, isn't piggybank safelock better?

just walk in to any of the Stanbic IBTC Bank branches & Get your problem resolved.

welzyj2:
Pls who has a contact with Stanbic Mutual funds. I need some assistance. Been sending messages and emails no luck

This is how mine is too,
But it appears STL is NOT consistent in adding daily interest to the existing balance on daily basis,
unlike Stanbic IBTC & TrustBanc.

I have observed that since on the 31st of March,2026 till today,
my balance with them stays the same,
Nothing has been added to the daily balance since then.

This is NOT the usual practice in money market fund.

As the day Goes by,
Nothing added,
it keeps accruing day in day out

Creditalerts:
this how mine look

sadly,
both are Gradually Going low below their 20.0% mark.

Hmmmm
I just hope both will bounce back,
comfortably sitting above their 20% mark.

Creditalerts:
Most MMF Performance is 18 percent today🙂 well fair enough

please House,
I completed a redemption form to withdraw all my money in Stanbic IBTC mmf yesterday morning,
& my redemption form was received & acknowledged by them,
& they said I should Go & wait for three to five working days to receive the money in my Account.

But I just logged into my Stanbic IBTC mmf Account this morning & saw that interest has been added again on my yesterday's balance,
as if I didn't even fill a redemption form to withdraw all my money,

pls should I worry about this??
is it that they've NOT started processing my request??
cos my balance keeps adding daily interest as if I didn't even make any request to redeem all the money in there.

somebody should help explain this to me.
who has successfully withdrawn all his money in Stanbic IBTC mmf before?

what is their interest rate as at today?

welzyj2:
Which position will you place Page MMF?

what is their interest rate as at today?

Yes,
I was informed that there is equally that option of funding your wallet & thereafter subscribing from there,
plus a Hundred Naira charge.

And there is also this option of paying directly into this their collection account Quoted here.

That is the message I Got from my chats with their customer care WhatsApp Handle.

I want to subscribe now,
reason I am asking to be sure.

Creditalerts:
me I fund my STL wallet then I subscribe from there

please House,
somebody should confirm this:

is this the collection Account for STL money market fund??

FBNQT STL Money Market Fund Collection Account
Account Number: 1000170352
Bank: Rand Merchant Bank

Oga,
TrustBanc mmf is Gradually Going down ooo,

it is 18.99% as at today,
25/03/2026

something that was at 19.99%

wetin dey happen with them na??

ever since dey concluded the sale of their CP last week,
it's been Going down in rate

Creditalerts:
The two top MMF this quarter with unbeatable rate are:
STL MMF 🤑🤑🤑🤑💥💥💥 🔥
TRUSTBANC 🤑🤑🤑💥💥💥
Others are struggling for third place.



But I will give third place firmly to FAAM by FirstAlly because of their seamless and topnotch services and nice rate also 🤑🤑💥✌🏾

You wanted to write 2am of
24/03/2026;
& NOT 2pm.

cos we have NOT gotten to 2pm of 24/03/2026 yet.

stephano100:
I requested for withdrawal from both stanbic and gtb mmf on 23/03/2026, stanbic credited me on 24/03/2026 around 2pm. GT MMF is yet to credit me till this moment.🥲

Also I noticed that for stanbic MMF, there’s transparency with how your interest is shown, you see your interest as a line item in your account transaction history & even when you download your statement you will see your subscriptions, redemptions & interest amount seperately.

But for GT MMF your interest is just added to your balance, it’s not shown in your account transaction history as an inflow at all & I don’t like that style. Even when i downloaded my statement, there was no breakdown for interest, you will only see your subscriptions & redemptions amount.

I’ve been using stanbic for a longtime & but I joined GT MMF this year because of the rate which was 17% earlier this year but as at today, stanbic mmf rate is 15.43%, while GT mmf rate is 15.48% & I’m wondering what’s the point of joining GT🥲

what do you even mean by compounded Quarterly??

cos what I know of mmf allover is that,
every new day,
a percentage of your existing balance is added to the existing balance in your account.
Be it TrustBanc mmf OR Stanbic IBTC mmf, the practice is the same.
The difference is in the percentage interest.
while Stanbic IBTC mmf Gives 15.24%,
TrustBanc mmf Gives 19.96%

Calinson2000:
I think what I understand from what was said is that CP can be compounded to a rate of 23% , however their MMF is compounded quarterly.
So how is CP compounded, monthly or quarterly? I know it is given at a discounted rate.

Are you now saying that their mmf is NOT compounded??

is that what you are trying to say?

pls those who are currently doing TrustBanc mmf now should educate us here,
whether the mmf is compounded or NOT.

richgang:
trustbanc mmf rate might be 19.9 but their CP is 19 but compounded. You might get up to 23% at the end of the year on CP.

for those using TrustBanc mmf,
pls how long does it take for money paid for investment to reflect on my Prime Pro TrustBanc mmf Account??

so in Stanbic IBTC mmf,
what's their percentage charges when redeeming(withdrawing) your money??

pls educate me,
cos I intend withdrawing everything from there this week.

Bluearrow:
You are wrong
Investments are classified under flexible & fixed. If u are investing in flexible assets, u should have access to your funds anytime. Believe me majority of people investing in MMF do so because of liquidity. If the likes of zedcrest, first ally, can do it, then others can do it too, they just need to improve. When I withdraw on stanbic, I get my withdrawal within 3 hours.

what is their interest rate like today??

I mean this myinvestar first ally??

Bluearrow:
I always advise people to invest some part of their mmf funds in myinvestar first ally for this kind of situation. They have the fastest withdrawal among all the fund managers I have used so far & their interest rate is ok.

lol
Hahahaha
No be small thing oo

ManAdii:
My marriage with Stanbic Ibtc fund managers end today.
You can't imagine my level of frustration right now. To redeem my own fund too.

Na wa

But is it wise to put in Huge amounts of money in a money market fund??
what if the fund manager liquidates as commercial banks often do??

At least with commercial banks,
You can Get your money back through NDIC, should the Bank liquidates.
as all deposits from 5m & below are all insured by NDIC.
Therefore,
You are Guaranteed Getting your money back, should the Bank folds.

But can same be said of fund managers of money market fund in Nigeria??
where people put in more than 5m & in some case 50m & above??

I just want to know,
what if the fund manager folds up today,
what happens to our funds in there,
as money market fund is NOT insured by NDIC

I just want to learn,pls.

Neurotika:
Well, I guess it depends on how much you're trying to take out from them. I was handed a form to fill when I wanted pulling out 18m few weeks back. This is almost 4 days after sending them a mail. But another FM (and it's not even one of the popular ones) liquidated 54m for me the same day I sent them a mail request. Different strokes perhaps….

How do you mean,
when you say they no Get space??

I want to learn.

Are they NOT Good??

Creditalerts:
please stay with stanbic because trustbanc no get space ,if u are a new Comer on this thread read other pages

pls House,
between Trustbanc money market fund and Stanbic IBTC money market fund,
which is better for now??
cos I want to move my little investment from Stanbic IBTC to Trustbanc money market fund,
as TrustBanc mmf is Giving a much higher percentage interest than Stanbic IBTC mmf.
Trustbanc mmf is 19.95%
Stanbic IBTC mmf is 15.46%

please I need a very sincere unbiased advice.

pls House,
I am considering locking 15million Naira for one Year, while expecting Good returns,

Therefore,
Between 19% First Bank secondary market Treasury Bills

and

22.30% Stanbic IBTC money market fund

which one is better??

Pls House,
is there anyone here who can correctly show us how percentage interest in money market fund is calculated annually??

Let's say I invested 15million Naira in Stanbic IBTC mmf rate of 22.30% for one year,
with the condition of re-investing the accrued interest for just one year,

pls how much should I expect in total after one year, & after all charges have been deducted by the fund manager??


Also,
Aside the witholding tax, what are the likely
charges the fund manager will be deducting??

it is most likely going back to around 20% or more quote author=alezzy13 post=134225664]

Funny enough they still maintained the rates, despite drop in inflation and complains that it's hurting businesses[/quote]

with this indices just released by the CBN,

stop rate may likely go up again to around 20% OR more,
from this 18.4% now

Funny enough they still maintained the rates, despite drop in inflation and complains that it's hurting businesses[/quote]

Pls House,
I just read somewhere now that the National Bureau of Statistics has disclosed that Nigeria’s headline inflation has dropped to 24.48 per cent in January 2025,
following the rebasing of the consumer price index,

Therefore,
How will this affect the rates in money market funds & Treasury Bills??

will investing in mmf & Treasury Bills still be that lucrative??

freeman67:
Yes. FBN edge to the app for FBN Assets management.

They are asking for my BVN,
is it safe

Yes. FBN edge to the app for FBN Assets management.

I have downloaded the FBN Quest App which is FBN edge,

But upon registration,
they are requesting my BVN & other details.

I am asking,
is it safe to fill out your BVN in an online App??
cos me I believe your BVN should be a confidential thing, never to be disclosed to anyone, let alone online Apps,
except you are within the Bank & asked to do so.

My tots, tho

I read you well.

But how is this mmf rate calculated??

How is it calculated per year & per day & per month??

I am seeing 20% here from IBTC,

is the 20% permanent throughout the year or does it go down??

How is this done??

quote author=emmasoft post=134055789]Choice of MMF Managers

When it comes to MMF Managers it's like a case of people viewing the elephant from different sides. Each will report how the elephant looks like depending on the side they are viewing from.

When picking a fund manager, these are what to look at for:

If the firm and the product is registered with SEC
There is a Custodian bank
a Trustees
The rate for MMF is always in a range and it's daily valued. The rate of a firm may be high today, and could be down the next day. But once it's within the rage in the industry you are good to go.
All MMF benchmark their MMF rate with the 3 months TBills.

Most of the other things considered by customers of various firms are subjective and more of personal experiences and choices.

The safety of your money with any of the firm is not determined by the popularity or largeness of the firm.

All MMF has the same status irrespective of the fund managers whether the firm is just starting out or has been in business for years or in a bank holdco or not.

Let's be well guided.[/quote]