Last Updated on September 17, 2020
GTbank treasury bills rate in Nigeria is currently between 9.74% and 11.39% as of Jan 2020. While the current rate for Treasury bills in Nigeria in 2020 at the primary level (CBN NTB Primary Auction Results) is 3% to 6.5% depending on the duration of the T-bills.
Treasury bills in Nigeria are discounted and calculated per-annum. This means your interest will be paid to your bank account at the beginning of the investment.
Let’s say you purchase a N200,000 Treasury bill with an interest rate of 10%, your account will be debited N180,000 by the CBN, which means your N20,000 interest has been paid upfront. When the Treasury bill tenor has ended, when it has reached maturity, you are paid the face value N200,000.
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GTbank treasury bill Tenors
A tenor is the duration of an investment. A treasury bill that has a tenor of 180 days means that at end of 180 days the treasury bill will reach maturity (end) and the principal sum of the Treasury bill will be paid out to the investors
Treasury bill tenors in Nigeria range from 91 days to 364.
Gtbank Treasury bill tenor rates in Nigeria 2020
As at January 2020. The GTbank T-bills rates are as follows;
- GTbank Treasury bill rate for a tenor of 91 days is 9.74%
- GTbank Treasury bill rate for a tenor of 180 days is 10.75%
- GTbank Treasury bill rate for a tenor of 365 days is 11.39%
Features GTBANK Treasury bill
The minimum investment amount for the Gtbank treasury bill is N100,000. You can invest as much as you like. You need a Gtbank account to invest in its treasury bills.
SEE ALSO: HOW TO BUY FOREIGN STOCKS FROM NIGERIA
You can also terminate your Gtbank treasury bill investment before it reaches its maturity date. However depending on the date of termination, some of the upfront interest will be taken from your principal.
Gtbank charges a custodian fee of 0.1% per annum of face value) plus a flat amount of ₦300.
To invest in gtbank treasury bills, you need to visit a gtbank branch and liaise with the account manager in order to process your request.
You can also request for a GTBank treasury bill through the internet and mobile banking.