The Eleventh tranche of the FGN Savings Bond has begun. Kindly find the Summary of May 2018 Offer below:
- 2-Year FGN Savings Bond due May 16, 2020: 9.48% per annum
- 3-Year FGN Savings Bond due May 16, 2021: 10.48% per annum
- Subscription for the bond opens on May 7, 2018, and closes on May 11, 2018. The settlement date for the bond is on May 16, 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: August 16, November 16, February 16, May 16.
REDEMPTION (Payment of Principal)
- Bullet repayment on the maturity date
What you get when you invest?
What you get – N9.48k per annum for 2 years, N10.48k per annum for 3 years
What you get – N47,400 every year for 2 years, N52,400 every year for 3 years
Invest N1 million
What you get – N94,800 for 2 years, N104,800 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.