₦airaland Forum

cyberwaver:
Guys who is using stanbic for Tbills... I don't know how they are charging their own..

But someone did N5M with stanbic but they deducted like 480K+ and they left the remaining in his account, I just want to know are they going to be paying the interest monthly because I don't know how 10%+ for 91 days tenure will be N162K for 5million Naira.

The guy is angry, I just want to know whether its normal for stanbic users maybe I can explain more to him.

I await your replies guys.

TONY56:
Me think the problem is that the man who did the 91days treasury bills did not know that the rate given him is for one year and not for 91days.

If @cyberwaver had revealed the actual rate for the 91days tenor instead of writing 10%+, it would have been easy to actually confirm the interest that should have been left in the man''s account.

The other problem is that the investor did not know that Stanbic bank does not deduct the whole money invested but leaves the upfront interest in the account debiting the account only with the discounted amount.


My very good guess is that the investor invested N5m for 91days at the rate of between 13% & 13.25% and about N4,838,000 was deducted from his account thereby leaving about N162,000(his up front interest) in his account which is correct.
He is most likely a first timer and thinks the about 13% rate is for 91days instead of dividing it by approximately 4 to get the actual rate for 91days.

He probably went into it thinking he would get N684,000 in 91days

Rizin:
please its high time we became good and sincere citizens of this great country.
10% of 5m is 500k
91 days is 1/4 of 1yr.
500k*1/4=125k.
he was paid 162k instead of 125k ( based on what u shared here)
please advice him to be a good citizen and return the excess of 37k. please let us together make our country better.

luluz4u:
gtb accepted 100k this year. I'm not sure they av stopped accepting 100k. but don't jst walk up to gtbank and say u want to do for 100k cos of d way u wil be addressed. contact ur acct officer instead gtb accepted 100k this year. I'm not sure they av stopped accepting 100k. but don't jst walk up to gtbank and say u want to do for 100k cos of d way u wil be addressed. contact ur acct officer instead

bliss11:
thanks it came tru and there was no deductions. Thanks

Destinydele:
Hello gurus in the house, first bank gave me 14.99 for 364 days..Is that good or the rate is poor? I also invested the interest along with the capital which is 2m , that made my interest compound...What should i expect at the end of the tenor? Please, kindly help me out...

Izuogu1:
i went there today for the TB I applied 3 days ago.. They said I should come on Monday

Primary market

ugoelvis1:
Thanks a lot, when I noticed no prompt response is coming my way from the forum. I asked the lady staff her opinion which she replied it's best offer among the higher tenors available and when compared to the result of the last primary market bid. So I subscribe for principal + interest and the debit alert came in almost immediately while I was still in the bank.
Please do I take it that the bid was successful this time around. And hope they will issue me a paper covering the investment

luluz4u:
I got at 15.1% for 364days gtb bank. thanks to my acct officer

ugoelvis1:
My Subscription for 364 days primary market a fortnight ago through First bank failed to get through. I went to the bank to enquire acknowledgement receipt. To my greatest surprise was told that their bid failed and money have been returned. I felt a pinch meaning if I didn't ask, no one cared to alert me, after two weeks my money was deducted from my account. They suggested that I re subscribe for the up coming bid date which I declined out of anger. Now I am in another branch to make a fresh booking but was told I was late, the bidding was conducted yesterday. In desperation I opted for the secondary market which they offered me 16 % for 274 days which is lower than the 364 days tenor I intended.
Please house I would want to know if I should go along with it or still wait another two weeks. Is it a good offer?. Need your response urgently

Deckline:
Remi1444,Cms,Tony 56,are you from Edo?

Cms38:
.yea...nd you?

Partnerbiz:
1 to 300 indeed.
How many did u read?

Cms38:
Rumour had it that list was released yesterday. ..no true

MssRose:
Available rates at Stanbic's secondary market are:
87 days--- 15.5%
171 days ___ 15.70%
262 days____ 16%
expected stop rate for next bid at the primary market:
91 days----- 13.25%
182days----15.4%
364days---- 15.725%

Deckline:
Remi1444,i am not a female... but thanks still for believing in my beliefs of "hope" i really can't think of another course aside LAW. Kenerd can testify to this truth.

Deckline:
Tony thanks,hmmm i be guy o. My mind dey tell me say you go sabi toast.

remi1444:
see whining, lolzzzzzzzzzzzzzzz.
Am just striving to become a boi boi pro, owing to the fact that its a major criteria for the profession i aspire to venture in.
my foundation was very very very appalling and i wasn't paying heed to it if not lately, i envy nairalanders like you, pranaya, cocolav, mrmcjay and tolusan.

Kenerd:
Tony56 deckline is a guy

remi1444:
chaiii, i would have composed the embolden for you if you agreed to sharpen my English horizon

bliss11:
hello thanks for all your input that helped me apply successful for tb in April, it's to mature this October and I was told that there would be things like holding or security charges is it normal? I used UBA

lilee2hot:
Most bankers are really out of touch with what's happening in the Tbills market. Smh

tolajay:
Happy Sunday Fam,

I was at First Bank last week, filled the form for secondary market at 15% for 182 Days.

After some conversations with the lady n charge, she advised that I change it to primary market, which the next auction will be this week wednesday. She said the last rate at primary market was 17% for 182 days which she thinks might be a bit higher or just the same this week.

So, I decided to go with her advice and settled for this week's primary market sales but I didn't specify my bid, leaving it to bank rate.

What do you guys think?

Izuogu1:
I just called Stanbic IBTC Bank CC and I was told that the next Auction Date for primary market is on Wednesday 18/10/2017.
She said the last interest rate was %13.25 for 91days.
Should I expect more or less of that this time around?

Deckline:
No offence but do you mean her mum knows how to post on nairaland? Just inquisitive though.

Deckline:
Thanks, I already did but i didn't see any mail or any reply but I have faith. Thanks for the concern. Nothing is impossible to God. I know it. God bless you

remi1444:
am impressed by your witty reply ooo, Kenerd can attest to the fact that am just an "Ariwo ko" btw am a lover of wisdom and you are a wisdom personified!!!
So i ask you grant my boi boi request.

remi1444:
tony56 the embolden....

remi1444:
She was admitted into MBBS though, i met her during their lectures in college, but i decided not to introduce myself probably because my illushi demon was fully fledged in my head....lolx
My intuition tells me the moniker is operated by their mom, her brother(son) is a law aspirant!

Cms38:
Have faith bro