The Eleventh tranche of the FGN Savings Bond has begun. Kindly find the Summary of January 2018 Offer below:
- 2-Year FGN Savings Bond due January 17, 2020: 11.098% per annum
- 3-Year FGN Savings Bond due January 17, 2021: 12.098% per annum
- Subscription for the bond opens on January 8, 2018 and closes on January 12, 2018. Settlement date for the bond is on January 17 2018
- UNITS OF SALE: N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
- Coupon Payment Date: April 17, July 17, October 17, January 17.
REDEMPTION (Payment of Principal)
- Bullet repayment on the maturity date
What you get when you invest?
What you get – N11k per annum for 2 years, N12k per annum for 3 years
What you get – N55,400 for 2 years, N60,490 for 3 years
Invest N1 million
What you get – N110,800 for 2 years, N120,900 per annum for 3 years
Remember interest is paid quarterly. To get how much you earn quarterly divide what you get above by 4.
Here is a copy of the notice.