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Business News

Earn 10.5% Interest on High-Yield Savings with Wealth Cash

With a minimum of N1,000, you can get impressive returns of 10.5% per year in Wealth Cash, much higher than the current Treasury Bills yields.

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Earn 10.5% Interest on High-Yield Savings with Wealth Cash

Putting your savings into the average bank account means you could miss out on earning more money.

Wealth Cash is a savings product that offers you an easy entry into the world of investments. With a minimum of N1,000, you can get impressive returns of 10.5% per year in Wealth Cash, much higher than the current Treasury Bills yields.

There are a lot of advantages when it comes to the Wealth Cash product powered by Wealth.ng including:

  • Easy market entry for investors with low funds (min of N1,000);
  • Perfect for investors with high liquidity need (easy to cash out);
  • High Yield (currently higher than Treasury bills);
  • No break /Liquidation fee;
  • No Locks;
  • No COT; and
  • No withdrawal limits

To take advantage of the investment opportunities available on wealth.ng, all you need do is:

  • Login/signup on Wealth.ng
  • Go to Marketplace
  • Select “Wealth Cash” product
  • Make Payment via any of the Channels – Card, Bank Account or Bank Transfer

That’s it! You can now view your Wealth Cash in the “My Portfolio” page and watch your interest grow!

[READ ALSO: Apple unveils a new credit card, Apple Card(Opens in a new browser tab)]

The Advantage of High-yield Products like Wealth Cash

The Federal Government Treasury bill has seen a massive nosedive in recent weeks. Investors had high optimism in January 2019 with the rates going as high as 14.50% for the 365-day T-bills. As of writing, the yields on T-bills have tumbled all the way to 6.12%. Investor confidence is now at an all-time low as Federal Government borrowing is nothing to go by.

Wealth.ng is now offering high yield returns up to 10.5% on your cash with no extra charges. Reap higher returns by stashing your cash in a high-yield cash product on wealth.ng so you don’t have to settle for trickles of interest that you may get from a regular financial institution. It gets better, you can break it at any time.

 Put that money to good use…. Free Your Cash!!!

 

Stanbic 728 x 90

Get your cash to do the running around and heavy lifting while you sit back and enjoy your interest.

Imagine that you consistently save N1,000 daily for the next 357 days…Guess what, you would have saved N356,000 by December 2020*. Now think of it as an investment and add 10.5% to it just because you decided to start saving on wealth.ng.

Conversely, saving N10,000 Monthly from January till December, for instance, will amount to N120,000*.

*This depends on when you start saving on Wealth.ng

If you can consistently keep to this routine, you my friend are surely set for great things.

About Wealth.ng: Wealth.ng is a product of WealthTech Limited, an affiliate of Sankore Securities Limited. The Investment management and advisory services on Wealth.ng are provided by Sankore Securities Limited, which is registered with the Nigerian Stock Exchange and regulated by the Securities and Exchange Commission, Nigeria.

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Wealth.ng’s payments are made with bank-level security to ensure transactions and financial information is kept safe at all times.

 

 

 

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    Business News

    Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day

    Shares of Guinness Nigeria Plc suffered a 9.89% loss today.

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    Guinness Nigeria Plc Reports Full Year F19 Results

    Guinness Nigeria Plc suffered a 9.89% loss today following a heavy sell-off in the shares of the brewer. This triggered a market value loss amounting to about N6.9 billion at the close of trading activities on the Nigerian Stock Exchange, as investors scaled-down stakes in the brewer.

    Data tracked at the close of the market today revealed that the shares of GUINNESS declined from N31.85 per share at the market open, to N28.70 per share at the close of the market today, to print a loss of 9.89%.

    This decline saw the market capitalization of the leading maker of beer and spirits fall from N69.75 billion to N62.86 billion at the close of trading activities today, putting the total market value loss at N6.89 billion.

    The shares of Guinness at the close of the market today cleared at N28.70 per share, 9.89% lower than the closing price of N31.85 per share yesterday.

    At the current price, Guinness shares are currently trading 20.27% lower than their 52-week high of N36.00 per share. However, the shares of the company have returned about 120.8% gains for investors who bought them at their 52-week low trading price of N13.00 per share last week.

    During trading hours on the Exchange today, about 159,380 ordinary shares of Guinness Nigeria Plc worth about N4.57 million, were exchanged in 27 executed deals.

    The shares of Nigerian Breweries Plc and Golden Guinea Breweries Plc closed flat at N50.1 per share and N0.81 per share respectively, while the shares of International Breweries Plc shed 0.88% to close low today at N5.65 per share.

    What you should know

    • At the close of trading activities today, the NSE All-Share Index and market capitalization appreciated by 0.29% to close higher at 39,128.34 index points and N20.477 trillion respectively.
    • The NSE Consumer Goods Index, an investable benchmark designed to track the performance of the shares of consumer goods companies like Guinness Nigeria Plc, depreciated by -0.35% to close the day lower at 553.26 index points.

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    Business News

    NAICOM revokes operational licence of UNIC Insurance, appoints Receiver/Liquidator

    NAICOM stated that it had appointed Hadiza Baba Gimba as the Receiver/Liquidator to wind up the affairs of the company.

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    on

    Recapitalisation: 26 firms get NAICOM's approval

    The National Insurance Commission (NAICOM) on Wednesday announced the withdrawal of the operational licence issued to UNIC Insurance Plc.

    Although no official reason has been provided for the revocation of the insurance firm’s operating license, NAICOM, however, stated that the decision of the regulator was in the exercise of the powers conferred on it by the enabling laws.

    According to a report from the News Agency of Nigeria (NAN), this disclosure is contained in a notice which was issued by the commission in Lagos to the general public and policyholders, where it noted that the revocation of the operational license, RIC 043, is with effect from March 25.

    NAICOM, thereafter stated that it had appointed Hadiza Baba Gimba as the Receiver/Liquidator to wind up the affairs of the company.

    NAICOM in its statement said, “The general public/policyholders are by this notice required to direct all inquiries and correspondence regarding UNIC Insurance to the receiver/liquidator.

    The receiver/liquidator will be dealing with the company’s liabilities in accordance with the provision of Insurance Act 2003.’’

    What you should know

    • It can be recalled that NAICOM, for the third time in June 2020, gave insurance firms in the country a one-year extension to meet the recapitalisation obligation that was recently set for them apparently due to the coronavirus pandemic which had disrupted the activities of most insurance companies.
    • Some insurance companies had been going through some bad patches with a good number of them struggling to meet up with their obligations and the recapitalization requirements.
    • The recapitalisation programme requires life insurance firms to meet a minimum paid-up capital of N8.0 billion, up from N2.0 billion previously. In the same vein, general insurance companies are required to raise their minimum paid-up capital to N10.0 billion from N3.0 billion previously.
    • The regulatory capital for composite insurance was raised to N18.0 billion from N5.0 billion previously while reinsurance businesses are now required to have a minimum capital of N20.0 billion from a previous N10.0 billion.

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