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Posted by Felix Okoli on Friday August 31, 2012 13:27:40:

The report I got now is that Access bank plc, the bank that bought Intercontinental bank is offering a fixed deposit interest rate of 14% to people who would invest in it with at least N1m.

The thing with Fixed deposit account is that they guarantee a specific amount of return on your investment, no wahala(no troubles), no akuko(no stories).

Well this opportunity is for those who have around N1m in their account such that rather than leaving it idle in a savings account, it is better to move it to a fixed deposit account.

Well 14% may not be much income for someone who has N1m considering the fact that you could make more if you use it actively in running a small business in Nigeria but the thing with small businesses is that they are no guarantees and if there is a misfortune, it could go the other way.

Anyway, for those who would want to earn at least N140,000 per annum on a N1m investment, then they should take up this offer from Access bank plc and the more capital you bring in, the more interest you can negotiate.

Comparing fixed deposit investment with shares is that fixed deposit income can guarantee you much better than stocks as income is guaranteed and higher than dividends which may or may not be paid. Ok, someone with a N1m investment in Zenith bank shares at N10 per share may gain N100,000 from dividends if they get paid N1 per share but with Access bank's FD, they would get higher.

The idea behind making money from a fixed deposit account is to invest money into an account for higher interest rates rather than keeping them idle in a savings account for lower interests. It is the kind of business one can do in Nigeria by allowing your money work for you.

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Comments:
Re: Access Bank is offering 14 percent for N1m Reply by christian iwuagwu on Saturday September 1, 2012 at 8:43:37:

pls would like 2 kw about fixed deposit in uba and eco bank?thnx.

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Re: Access Bank is offering 14 percent for N1m Reply by Felix Okoli on Saturday September 1, 2012 at 8:43:37:

I don't know about their rates now but they do offer fixed deposit accounts

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Re: Access Bank is offering 14 percent for N1m Reply by Gbenga on Sunday September 2, 2012 at 21:46:10:

Tnx Mr Felix, this is gud 4 ppl wt milionaire but i wil rather try my luck to invest into real estate busines(land). Dec is around pple are coming home 4 land. I could also make cool money above 14%. Tnx

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