This is what you get if you buy FGN Savings Bonds selling this week

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?

Invest N100k

What you get – N9.48k per annum for 2 years, N10.48k per annum for 3 years

Invest N500k

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.