Saving is a goal that thousands of Colombians set every day and that in the long term is very good for the aspirations of each one.
Given the variety of options, the aforementioned expert said what are the methods of saving more frequent and less successful in the sense that they do not leave additional interest earnings.
(See also: Government has a new plan and would make announcements with important banks in Colombia).
This is what the financial expert said:
The famous savings under the mattress, put the money in a piggy bank and leave the money in a savings account traditional are some of the methods mentioned by the analyst.
“It does not generate any profitability for us,” adds Medina. Obviously, he is right, since the money in a piggy bank is still and in the long run it will be worth even less due to inflation.
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In the case of savings accounts, These give very low yields that can represent paltry annual profits of up to 0.1% for the client.
Some methods to save and at the same time earning good money through returns are CDTs or virtual investments of the bankssince these handle rates above inflation and are 100% safe as they are backed by insurers.
CDT in Colombia and how these investments work
The investor deposits a sum of money in the financial institution, committing to maintain it for a certain periodwhich can vary from 30 days to several years.
During the agreed time, the money cannot be withdrawn without incurring penalties. The term is fixed and is defined in the CDT contract.
The financial institution pays interest on the deposited amount. The interest rate can be fixed or variable, depending on the initial agreement. Generally, the longer the term, the higher the interest rate. Interest can be paid periodically (monthly, quarterly, etc.) or at the end of the period together with the original capital.
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