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Fixed deposit ....does it have the profit it implies....check this out??
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astute
#1 Posted : Thursday, July 01, 2010 8:22:54 PM
Rank: Member

Joined: 3/24/2010
Posts: 101
Location: Nairobi
I have been looking at the interests given to fixed deposit by banks...they appear to have a significant return on investment!!! For instance, Ecobank offers 3.5% for one month....if for instance I invest 100000 for a month, i will get 3500 as interest, then if i renew my investment monthly for one year...i will have a compounded interest of around 42000....minus tax...i will be left with like 34000.....so my investment will have grown by 34%....(the figures are estimates) Wazurians, DONT YOU THINK THIS IS A GOOD RETURN ON INVESTMENT?????
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cnn
#2 Posted : Thursday, July 01, 2010 9:10:18 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
@astute,that is obviously wrong.If they paid that, i would put all the money i have with them ,and go for one life long holiday.You are talking an annual rate of 42%,higher than their lending rates,they would wind up fast.
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VituVingiSana
#3 Posted : Thursday, July 01, 2010 9:14:47 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,366
Location: Nairobi
@not-so-astute The 3.5% is an annualized rate...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#4 Posted : Thursday, July 01, 2010 9:25:21 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
VituVingiSana wrote:
@not-so-astute The 3.5% is an annualized rate...

It has to be, otherwise the NSE would close down.
34% a year? Unheard of
GOD BLESS YOUR LIFE
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  | | Edit by user: Thursday, July 01, 2010 9:26 PM | Reason: Not specified
VituVingiSana
#5 Posted : Thursday, July 01, 2010 9:47:21 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,366
Location: Nairobi
youcan'tstopusnow wrote:
VituVingiSana wrote:
@not-so-astute The 3.5% is an annualized rate...

It has to be, otherwise the NSE would close down.
34% a year? Unheard of


LOL... I wud move 100% to Ecobank
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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astute
#6 Posted : Thursday, July 01, 2010 10:08:37 PM
Rank: Member

Joined: 3/24/2010
Posts: 101
Location: Nairobi
VituVingiSana wrote:
@not-so-astute The 3.5% is an annualized rate...



so apparently I got it terribly wrong....was actually wondering if the banks can offer this...but in Thursday's paper...the money magazine indicates that the banks offer these rates per month...!!!!
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kyt
#7 Posted : Friday, July 02, 2010 1:48:17 AM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
and you trust the journalists, ha ha ha!!!!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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sparkly
#8 Posted : Friday, July 02, 2010 7:51:00 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
youcan'tstopusnow wrote:
VituVingiSana wrote:
@not-so-astute The 3.5% is an annualized rate...

It has to be, otherwise the NSE would close down.
34% a year? Unheard of


LOL... I wud move 100% to Ecobank

he he he me too. The risk free rate is under 3% PER ANNUM.
Life is short. Live passionately.
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VituVingiSana
#9 Posted : Friday, July 02, 2010 10:10:42 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,366
Location: Nairobi
astute wrote:
VituVingiSana wrote:
@not-so-astute The 3.5% is an annualized rate...


so apparently I got it terribly wrong....was actually wondering if the banks can offer this...but in Thursday's paper...the money magazine indicates that the banks offer these rates per month...!!!!


Please... Kenya newspapers concentrate so much on politics they forget its BIASHARA/economics that really count!

If Kenyans paid less attention to politics & more on the economy, we would be better off...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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komera
#10 Posted : Friday, July 02, 2010 12:36:06 PM
Rank: New-farer

Joined: 6/29/2010
Posts: 56
Location: Nairobi
my dear friend, the 3.5% is not earned pm but pa. meaning u get 0.29% pm then now compund it. So in the first month you will only get kshs 290. thats not wise investing. now compund it through out the year and you will find yo getting approx kshs 4000 pa. low risk low returns principle.
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