Saving plans for low-risk takers

With the current interest bank interest sitting at 0.08%-0.5% p.a, how much are you getting for your dollar in the bank? Every $10,000 will get you $8-$50 and that’s a wide variation across the banks. It pays to do some homework before locking your money in a Time deposit.

That’s $50 of interest earned every year at the highest rate offer at 0.5% p.a. Your total returns will be $10,201 at the end of four years if you choose to renew this time deposit every year. How does that sound to you? For someone who is able to take some risk, you can do some investment but what if these are money you are not prepare to risk?

For a limited period, you can consider an option to put your money aside with an guaranteed effective yield of 1.68% p.a. What that means to you is for every $20,000 you put in a bank at 0.5% p.a, the returns after 4 years will be $20,400.


Given the same amount of time and money, the returns from this saving plans will be $21,380.1.68
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