T-Bills vs. Fixed Deposits: What's the Difference?

Nigerian Treasury Bills (T-Bills) and bank fixed deposits are both popular ways to earn a predictable return without equity-market volatility, but they work differently.

Nigerian Treasury Bills

T-Bills are short-term instruments issued by the Federal Government through the CBN, typically in 91, 182, or 364-day tenors. Because they're backed by the government, they're generally considered one of the lower-risk instruments available locally.

Fixed deposits

A fixed deposit is a term placement with a bank at an agreed rate for an agreed period. Rates and early-withdrawal terms vary by institution.

Which is right for you?

It depends on your time horizon, the rate on offer, and how important early access to your money is. You can compare current T-Bill rates directly in the MyroVest app under Markets ? Bonds.