₦airaland Forum

Fm4real06:
I dont think is bad considering the number of days

Me too think so

Fm4real06:
No! U cant bid for that amount. U can only bid for what it is in your account if it is available. If i get ur example right, u can only bid for 1m since that is what is in your account. U get a credit alert of 170k and dey will remove 1m till the maturity date b4 it is being returned.

What the guy is trying to say about stanbic ibtc is that, unlike other banks, stanbic will leave the 170k in ur account and remove the remainig 830k.

You are correct but he should also realise that the rules have been changed few months ago-nobody can bid on his own at NTB except it's for an amount that's over N50m. Anyone who wants to buy NTB of lower amount can only go with the bank's bid rate

Kimsunh:
yes and I can bet with you that you can't get that juicy rate with primary market. Last one I did with Gtb was 17.3.

Oh yes. There's no dispute about that BUT sometimes it's better not to waste your time waiting for juicy secondary market if Primary market is very much around because your waiting time may be a loss if the juicy one don't come early

Fm4real06:
Can i collect my treasury bill proof of investment from other firstbank branches anywhere. I dont want my account officer to start disturbing me to do F.D. she has been begging me to do F.D of any amount meanwhile she is also in charge of T.B

I think you can but you should have done the investment in another branch so that it would be easier to approach same person for the hard copy

ebbie9ja:
Better than Stanbic?

On the average yes

Kimsunh:
Try first bank. I got 176 days for 18% recently

That obviously is not Primary Market!

Iamzik:
Many thanks Tony. I will definitely go for Stanbic.

But will the interest be paid immediately after debiting my account or will it be paid with the interest at maturity?

The beauty in the way Stanbic operates is that they will only debit your account with the discounted amount leaving your interest in your account unlike what most other banks do by debiting the whole amount and crediting back your interest few days after.

Iamzik:
Hello House.

Appreciation to everyone in the house.

Please when is the next Tbill bid date.
Anyone know typical rate offered by Stanbic ibtc for 181 days?

Many thanks

You mean 182 days? And for Primary Market?
Then it's between 17 & 17.2% since about 3 months

dotcomnamename:
Ok i am desperate and i want to sell, would you buy my own at 577 daYS @ 10%

The highest tenor is 364 days. I wonder where you got 577-day tenor and even if there is and you are desperate, then you should have offered it for 50% as that would have been for almost two years and not per annum.

FKBZ:
He goofed because ,I had gotten the primary auction already @18.2 due to his negligence somehow,I wasn't debited but I was sent my bid receipt .which i called his attention to and he later apologised.its Gtb by the way.
Anyway my question is 17.95 percent good for 304 days.

YES!

anitank:
Good morning.

I have two t-bills running and I'm so obsessed with having more that I'm thinking of taking out all the money in my dorm account to invest. My dorm account yields no interest for me hence this decision.

Who else thinks this is a good decision? Or not [/quote


[quote author=TONY56 post=58787196]Me think it's a nice decision expecially if you also reinvest the upfront interests and it's rolled over for at least two years.

Even if the exchange rate moves back to N450/N500 per Dollar, which is very unlikely, by the time you want your Dollar back, you will be buying more than you had because the profit you would have made in at least 2yrs would have more than cover for it.

Above is also just my thought too

]

FKBZ:
Hello house,

Is 17.95% for 304 days a good bid.

My acct officer goofed and is telling me this is what is available.am thinking of transferring my money to Stanbic ,hoping to gets better bargain in the secondary market.

What do you mean by "My account officer goofed" he has simply told you what is available on that day and at that moment.

In actual fact, your accounts officer is not the one in charge of NTB in your branch so you don't even have to approach him if you need to buy one and you don't have to even go to your branch especially if you don't trust your account officer. Just visit ANY branch of your bank and ask for the officer in charge of TREASURY BILLS. Then tell him you want to know what's on offer at the Secondary market and he or she will check online on the system and tell you what is displayed.

It's not the decision of account officer nor that of the staff in charge pls. They will simply tell you what is displayed on their system at that moment.

So your account officer did not goof o!!!

MOM1:
Well think about it this way. Do you wish to take out the funds in your dorm for TB purpose only or you just want the profit on your principal? I think if you decide to save your principal back to your dorm. You could be running at a loss due to the changes in exchange rate.

Just my thought..

Me think it's a nice decision expecially if you also reinvest the upfront interests and it's rolled over for at least two years.

Even if the exchange rate moves back to N450/N500 per Dollar, which is very unlikely, by the time you want your Dollar back, you will be buying more than you had because the profit you would have made in at least 2yrs would have more than cover for it.

Above is also just my thought too

adegokekemi:
PLS which stanbicibtc branch will you suggest for TB in Lagos that r little bit friendly

Any Stanbic branch is okay. It all depends on the way you present yourself, your knowledge about what you want and of course your account officer who MAY not be happy that you're not doing Fixed deposit. But once he realises that you know what you want, he or she will pipe low.

In actual fact, in almost all banks, most of their staffs are not knowledgeable about NTB but they have one or two knowledgeable staffs at each branch for NTB and those ones will always do what you want.

dotcomnamename:


How come? But i bought 177 days @ 18% few days ago.

Do you think it's static? You were simply lucky and it doesn't come like that every time. It depends on how desperate the owner is and it's availability

lancee:
Yes you can , have up to 7 and all in one bank ..think u can do as many as u want

ABSOLUTELY CORRECT!!!

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TONY56:
You are right now!
That's what Stanbic charges. That's what they charged me for the auction before the last one and even the one before that.

The N100 for comml is the commission charged for the transaction. I think they charge about N49 + some fractions for transactions less than 500k as Safe keeping or custodian fees while they charge N498.63 for transactions above 1m and up to N2m

The initial details of the transaction sent to me dated 19th June 2017 stated the Safe keeping fee as N124.66 but on 28th June it was changed to N498.63 which is a lot better than Access Bank that allegedly charged N2013.7. A friend who invested 1m was initially charged N249.32 on 19th June 2017 but also had his changed to N498.63 on 28th June 2017.

Cation:
we are many that want to learn the stock investment

Search for stock investment section on nairaland and you will be filled. This thread or section is strictly for Treasury Bills.

Cation:
we are many that want to learn the stock investment

There is a thread for that, not this forum pls

beyolah:
Stanbic charged N300 transfer fee
N149. 59 Safe keep fee
AND
N100 for COMM{don't know what this means}


Deepwater, can you confirm if your charges are within this range?

Tony56, this was at the last primary auction. Can you let me know when you were charged the aforementioned?

You are right now!
That's what Stanbic charges. That's what they charged me for the auction before the last one and even the one before that.

The N100 for comml is the commission charged for the transaction. I think they charge about N49 + some fractions for transactions less than 500k as Safe keeping or custodian fees while they charge N498.63 for transactions above 1m and up to N2m

Shakitibob0:
My brother...I invested 2M......I will buy from my Stanbic account next...

Eh hen! You are now talking. No permanent friend in investments

Shakitibob0:
My brother....Access Bank debited my account today...but they charged custodian fee of N2013.7 and N100 processing fee....Is that custodian fee within good range? Though I feel its nothing

It's difficult to know if it's fair because we don't know the amount you invested.

All I know is that STANBIC charges just a little less than N50 for 400k, a little less than N500 for both 1m & 2m.

Pls don't say "it's nothing". N2,913.7 is something. If others charge less, why stay with them? For charity? If you owe them N5 mistakenly, they will collect it and charge you interest on overdraft.

Bcpump:
zenith, first or diamond, which of these 3 have the highest TB rates ??

First Bank amongst the three you metioned USUALLY have the highest TB rates BUT STANBIC USUALLY out perform ALL.

At the secondary market, FIRST USUALLY come first and STAMBIC too is not bad.

Amypriti:
Isn't that a good offer 5% for 30days

Here we come again!!!
5% for 30days does not translate to interest of 5% on your investment. The expression "5% for 30days" is just an expression as that's the way investments are expressed in the money market.

So 5% for 30days means 》5/100 *30/30days * the amount invested. OR 5% for 30days means 5 * 30/30days = 0.4109% in 30days.

crowntoro:
since you saw 18% for 176days,, it means that I have been cheated oh because I got 17.25% for 182days and it was in the primary market and I used to think that rates are higher in the primary market.

If you have been following posts on this forum very well, you would have observed that we have come to a concensus and proved that Secondary Market rates are usually higher and better but you may not get the good rates on time and just keeping your money idle waiting for such high rates does not make economic sense IF Primary Market is around the corner and there are so many people lurking around too for Secondary Market which may not be readily available.
Sometimes, you see a good Secondary rate but by the time you finish with the filling of the forms, it's gone.

crowntoro:
okay o and it was in first bank o
So when am I going to get my upfront interest

Either today or tomorrow

crowntoro:
Thank you .. I checked my mail and I saw the rate there.. 17.25% for 182days.. I hope I have not been cheated but when will the upfront interest be paid.
Thank you

There's no cheating there. That's the rate your bank bided for and its not too far from the alleged CBN stop rate of 17.3989 for 182days. In fact, any rate from 17% upwards is not bad though a Bank like Stanbic MAY have gotten more than the 17.25%.

Between today and tomorrow, you will start seeing posts about the rates gotten by those who used other banks and you will then see how close each bank got to the CBN stop rates and if you don't like your bank rate, you can move to any other bank you like for your next auction

Investnow2017:
I had said earlier that today 19th was the auction day but I WAS CORRECTED.

Think its always good to check facts.

But I also debunked that and confirmed that you were right that the auction would be 19th and not 20th. Just know that Primary Auctions DOES NOT TAKE PLACE ON THURSDAYS BUT WEDNESDAYS irrespective of whatever you see on any published or posted time table except expressly changed by CBN

junglep:
I did my tb on the Primary market which was supposed to be auctioned on the 20th, which is tommorow with first bank. I got a notification today advising I got 18.3% for 364 days. It seems a bit low especially because it was done on the Primary market, also principal amount debited and no interest on the account.

Is this normal?

Primary Market auction took place yesterday 19th and not today-hence the alert you got.
Please note that Primary Market auctions takes place on WEDNESDAYS and not THURSDAYS. So don't get confused by the Auction time tables posted.

It's low because that was your bank''s bid for the auction. I guess that your bank is not Stanbic nor First Bank that normally have their bids closest to the CBN rates.

crowntoro:
how do you know the percentage that you got because I didn't know mine, just got debit alert and my upfront interest has not been paid
When should I be expecting the interest because I was debited yesterday

He got to know his rate even before taking up his investment because he invested in the Secondary Market while your investment is in the Primary Market and you won't know your rate until you get your interest and do some calculations or when you get the details from your bank later.

Fm4real06:
Try to go back to the bank. If you invested in d primary market, u may not know the rate until the interest is paid. But, if u invested in secondary market, you should know the rate you are investing..

Gurus in the house im i right or wrong..
Deepwater
Investnow2017
Freeman67
Tony56

You are absolutely right. He obviously invested in the Primary market while you invested in the Secondary Market and saw the rate before going for it whereas he invested in the Primary Market and would not know the rate until he receives his interest