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The unarguable fact remains that here in Nigeria, the interest rate for investments made in Micro Finance banks is often times higher than the returns you get from investing your money and funds in other traditional and commercial banks. When I checked for this information recently, I only discovered that while Nigerian commercial banks mainly offer their fixed deposit investors a maximum interest rate of 10% only on their investments, the interest rate payable on funds invested in Micro Finance banks can be as much as 20% returns.
You may not really know how this works but I will explain it to you using a simple banking scenario. Assuming you have a total sum of N5,000,000 (five million Naira) to invest with a given Micro Finance bank which offers you an annual interest rate of 20% then, the implication is that you will get a yearly return of N1,000,000 (one million Naira) as the interest payable on your investment. That is the 20% of the five million naira that you invested for the full year. This is very amazing indeed and I will not be surprised to see you surprised too. The truth remains that this is how most Nigerians who have enough capital invest their money and make more money easily without too much stress and work to do.
Although the commercial banks in Nigeria do not offer such a high volume of interest on your investments with them just like the Microfinance banking institutions, they guarantee a longer term security of your invested funds more that the micro finance banks and that is why some people still stick to them. There is always a flaw to anything or system. I have to tell you boldly that even though the micro finance banks offer bigger returns and interest rates on the capital invested with them, they are not fully insured and free from financial risks like their bigger brothers - the commercial banks. They cannot guarantee you a long term security of your investments and that is where their flaw lies.
If you are interested in making an investment of any amount with the micro finance banks, simply find any one of them operating in your location or any reliable one you can trust. Find out their capital requirements as well as their rate of returns before you fill their contact papers and agree to their terms and conditions. As soon as you complete the deal with them, invest your money with them and they will start working with it to generate the money they will use to settle their interest obligations to you as soon as your investment with them reaches the maturity date.
Micro finance banks offers you a flexible investment period and duration but you must specify it at the initial stage of the deal before signing the investment papers. You can choose to invest your funds with them for either 30 days, 60 days, 80 days, 365 days or as specified by the laws and legislation guiding their banking operations. The longer your investment duration, the bigger your expected interest returns and also, the higher the risks you will bear throughout the investment period. So be very careful and prudent as you make a decision on this regard. Seek advice from financial analysts and other honest investors in the bank. Generally, making investments in a Micro Finance business is a highly risky yet a very rewarding and profitable venture. All you need is the confidence to proceed.
Make sure that you only make your investments in Micro finance banks that are duly registered and approved by the Central Bank of Nigeria - the CBN. Take a look at them on Google results through this link http://www.google.com.ng/search?q=microfinance+banks+site:cenbank.org for confirmation and verification purposes.
Other helpful tips that will guide you as you invest your money with Micro Finance banks includes the following:
• Only make your Investments in micro finance banks that have an excellent reputation and history. The existing investors can tell you how reliable, efficient and trustworthy their services are.
• Never you make cash payments for your investments. Rather, invest your money by offering a valid bank cheque or through the ATM and bank fund transfer systems so as to ensure security and traceability of your transactions.
• Always listen to the latest and authentic financial news so as to be abreast with the latest national financial trends and know when to take your money if you foresee future economic meltdowns, financial crises and other negative money market uncertainties.
That is all. You can as well get more expert information and tips on this article from an expert financial analyst of from an experienced banking professional.
Drop your comments and views below for helpful answers, attention and assistance.
To read more business articles and discover more ways of making money, read my older entrepreneurial posts and always visit this blog everyday to get new and latest ways of making money online and through other various legitimate means. Thank you for coming here today. I hope you really learnt a lot in exchange for your time spent. Cheers!
TAGS: microfinance bank in nigeria, microfinance bank in lagos, microfinance bank pakistan, microfinance bank recruitment, microfinance bank jobs 2016, microfinance bank and economic growth in nigeria, microfinance bank aptitude test questions, microfinance bank association in nigeria, microfinance bank act nigeria, microfinance bank a positive step to grass root development, functions of microfinance bank, ab microfinance bank vacancies, ab microfinance bank ikeja, ab microfinance bank loan, when was microfinance bank established in nigeria, microfinance bank loan in lagos, microfinance banks in ibadan, microfinance bank vacancies in ibadan, microfinance bank vacancies in nigeria, zenith microfinance bank, top 10 microfinance banks in nigeria, top 10 microfinance banks in lagos, top 10 microfinance banks in pakistan, top 5 microfinance banks in nigeria
The unarguable fact remains that here in Nigeria, the interest rate for investments made in Micro Finance banks is often times higher than the returns you get from investing your money and funds in other traditional and commercial banks. When I checked for this information recently, I only discovered that while Nigerian commercial banks mainly offer their fixed deposit investors a maximum interest rate of 10% only on their investments, the interest rate payable on funds invested in Micro Finance banks can be as much as 20% returns.
You may not really know how this works but I will explain it to you using a simple banking scenario. Assuming you have a total sum of N5,000,000 (five million Naira) to invest with a given Micro Finance bank which offers you an annual interest rate of 20% then, the implication is that you will get a yearly return of N1,000,000 (one million Naira) as the interest payable on your investment. That is the 20% of the five million naira that you invested for the full year. This is very amazing indeed and I will not be surprised to see you surprised too. The truth remains that this is how most Nigerians who have enough capital invest their money and make more money easily without too much stress and work to do.
[Post Image Courtesy of Sira Anamwong at FreeDigitalPhotos.net]
Although the commercial banks in Nigeria do not offer such a high volume of interest on your investments with them just like the Microfinance banking institutions, they guarantee a longer term security of your invested funds more that the micro finance banks and that is why some people still stick to them. There is always a flaw to anything or system. I have to tell you boldly that even though the micro finance banks offer bigger returns and interest rates on the capital invested with them, they are not fully insured and free from financial risks like their bigger brothers - the commercial banks. They cannot guarantee you a long term security of your investments and that is where their flaw lies.
If you are interested in making an investment of any amount with the micro finance banks, simply find any one of them operating in your location or any reliable one you can trust. Find out their capital requirements as well as their rate of returns before you fill their contact papers and agree to their terms and conditions. As soon as you complete the deal with them, invest your money with them and they will start working with it to generate the money they will use to settle their interest obligations to you as soon as your investment with them reaches the maturity date.
Micro finance banks offers you a flexible investment period and duration but you must specify it at the initial stage of the deal before signing the investment papers. You can choose to invest your funds with them for either 30 days, 60 days, 80 days, 365 days or as specified by the laws and legislation guiding their banking operations. The longer your investment duration, the bigger your expected interest returns and also, the higher the risks you will bear throughout the investment period. So be very careful and prudent as you make a decision on this regard. Seek advice from financial analysts and other honest investors in the bank. Generally, making investments in a Micro Finance business is a highly risky yet a very rewarding and profitable venture. All you need is the confidence to proceed.
Make sure that you only make your investments in Micro finance banks that are duly registered and approved by the Central Bank of Nigeria - the CBN. Take a look at them on Google results through this link http://www.google.com.ng/search?q=microfinance+banks+site:cenbank.org for confirmation and verification purposes.
Other helpful tips that will guide you as you invest your money with Micro Finance banks includes the following:
• Only make your Investments in micro finance banks that have an excellent reputation and history. The existing investors can tell you how reliable, efficient and trustworthy their services are.
• Never you make cash payments for your investments. Rather, invest your money by offering a valid bank cheque or through the ATM and bank fund transfer systems so as to ensure security and traceability of your transactions.
• Always listen to the latest and authentic financial news so as to be abreast with the latest national financial trends and know when to take your money if you foresee future economic meltdowns, financial crises and other negative money market uncertainties.
That is all. You can as well get more expert information and tips on this article from an expert financial analyst of from an experienced banking professional.
Drop your comments and views below for helpful answers, attention and assistance.
To read more business articles and discover more ways of making money, read my older entrepreneurial posts and always visit this blog everyday to get new and latest ways of making money online and through other various legitimate means. Thank you for coming here today. I hope you really learnt a lot in exchange for your time spent. Cheers!
TAGS: microfinance bank in nigeria, microfinance bank in lagos, microfinance bank pakistan, microfinance bank recruitment, microfinance bank jobs 2016, microfinance bank and economic growth in nigeria, microfinance bank aptitude test questions, microfinance bank association in nigeria, microfinance bank act nigeria, microfinance bank a positive step to grass root development, functions of microfinance bank, ab microfinance bank vacancies, ab microfinance bank ikeja, ab microfinance bank loan, when was microfinance bank established in nigeria, microfinance bank loan in lagos, microfinance banks in ibadan, microfinance bank vacancies in ibadan, microfinance bank vacancies in nigeria, zenith microfinance bank, top 10 microfinance banks in nigeria, top 10 microfinance banks in lagos, top 10 microfinance banks in pakistan, top 5 microfinance banks in nigeria
MicroFinance Bank Jobs - How to Invest in Micro Finance Banks and make money in Nigeria
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Investing money in stock market is most important. Without proper knowledge on investing will be chance lose the money. You are providing great investing ideas to get success. Thank you for great words.
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