Savings accounts are a basic instrument to keep finances in a good state. Although each person usually manages an account in a bank to maintain his income and the money of the expenses, it is advisable to have an account destined especially for the savings, because this helps that the money is not used for any other purchase or payment.
Something that discourages many is that, despite depositing their savings in the bank, they do not grow, but seem to be reduced. This is how they end up canceling their accounts and prefer to save money anywhere else. But why doesn’t growth happen? These are three important points that may be happening:
You chose an account that charges you maintenance
When opening an account with the bank to deposit your savings, it is important to verify that it is zero maintenance. Otherwise, month by month you will be charged an amount to save your money. You should verify that the minimum amount is also one that goes with your savings, because sometimes, if they fail to comply, the accounts do receive maintenance.
For example, you choose Bank A and it says that your account has zero maintenance, but to access it, it is necessary to have a balance of s / .500. This means that, when you have less than that amount, they will charge you the respective maintenance. Therefore, it is best to choose accounts with zero maintenance that is not tied to anything.
The interest rate is not the most convenient
Remember to compare interest rates. In savings accounts it is possible to access up to 4.5% interest in banks, savings banks or financial institutions. Ideally, you know the alternatives and just choose. If you did not do so, quiet, it is never too late to spend your money to another entity and start growing.
You have not correctly reviewed the interests
Remember that banks tell you about an annual interest rate, and the correct way to calculate your monthly interest is to divide the amount earned in a year. For example, if you maintain a saving of 3 thousand soles throughout the year, and your account has a rate of 2.5%, throughout the year you will get a profit of s / .75. This should be divided into 12 months to calculate the monthly amount.
Remember that your money is growing without you having to make any movement. Although the earnings may seem few, the more you save, the more it will grow.