For us who were born in the 70's to 80's, we grew up with our "alkansya" whether piggy bank, bamboo, jars, or tin can. It is where we put our precious coin savings (if there are any left from our baon/allowance). This is where we start to learn the value of savings even before being introduced to banks and "paluwagan". A few months ago, I thought of how to maximize these loose change and excess allowance and add to existing investments but the amounts are small considering the minimum of most investment funds and time deposits. Sitting in a regular bank account, these small amount would have an interest of 0.10% to 0.25% per annum if you meet the minimum for interest eligibility. Time deposit minimums ranges from 10,000 pesos to 50,000 pesos while mutual funds and UITFs minimum ranges from 1,000 to 50,000. I was able to identify a few alternatives: Digital Banks ING and CIMB launched last 2018 their mobile banking services. You c...
Savings, Protection, Investments, and Finance