Maybe you can try opening an online stockbroker account as an alternative investment instrument compared to a bank savings account, which normally gives you only 0.75% to 1% interest, not to mention the Php30,000.00 minimum initial deposit to open a new account (in the case of Metrobank).

As far as I know, on-line stockbrokers doesn’t have a minimum maintaining balance (or if it has, it won’t be like Php10,000.00 monthly minimum). Futhermore, online accounts have cheaper commission fees.

As for my pick, it would be Citiseconline because of its lowest opening requirement and lowest commission too (0.25%)

Listed below are some online brokerage in our country:

AB Capital Online - Php50,000.00

Citisec Online - Php20,000.00

2TradeAsia - Php25,000.00

Btw, I don’t work for Citiseconline. ^_^

All those are good as long as you invest in established and reputable institutions. Furthermore, if you want to invest in MLM, then I suggest that you read an article I wrote here: The Basics of Multi-level Marketing.

what about putting my money from the bank to instruments like philhealth, caritas and other health institutions? okay ba na move yun?

kung MLM naman? na trauma na ko kasi na swindle 100k ko ng Baladjay group of companies. I caution myself from MLM scammers.

First, I think the reason why the bank is charging you P200 per month is because the money left in the savings account was below their maintaining balance. Personally, my suggestion is just to withdraw everything and open a new savings account, perhaps in another bank.

Secondly, I commend you for having a lot of savings. If you’re thinking of investing them in some financial instruments, I suggest that you read another article of mine, A Beginner’s Guide To Investing.

Hopefully, this will help you decide what to do with your extra money. Good luck and best regards.

tinanong ako magwiwithdraw ba ko or continue ko yung service sa kanila? isip ko sayang kasi savings account ko yun. hard-earn money ko yun kahit matagal kong di nahulugan. siyempre tuloy lang ang deposit ko sayang for my future.kaya resume pa rin at reactive ang account ko na parang-email na hindi nabasa for a long period.

Sayang din naman kung sisimutin lahat ng bangko mga pinaghirapan for their own business interest.

Ask ko lang should i continue to put my savings in the bank? meron din me savings from other banks,i have my sss for voluntary contribution,life insurance,mga alkansiya for personal savings,emergency funds,event or occassion savings just in case na dumating ang b-day,monthsary,aniv,xmas at iba pang event.they are labeled and categorize in various boxes and envelops.para akong bumbay may kaha de-yeo/vault sa bahay.

Aside from the banks,mutual funds,equity bonds,treasury bills,govt funds where can i put my savings?

pagsa stock market higher ang yields,sa treasury bills and bonds i need hundred thousand para makabili nun! i don’t have a hundred thousand personal savings sa bank and in my vault. i only i had coins and few paper bills.

thank you God bless

You’re right. In a nutshell, this means that luxury items tend to have higher inflation rates than basic consumer products.

So, the more you regularly spend on luxury, the higher the inflation rate you experience.

Thanks for the comment and the additional information.