How to choose an ideal savings account?

If there is something that quarantine has taught us, it is the importance of having savings, either to later invest it in a business or study project, or to have an economic ‘cushion’ that will always be a great help. For this reason, José Camacho, Central Business Manager at Caja Trujillo, explains what types of savings accounts exist and how to choose the ideal one for us.

savings that grow

These accounts are characterized by offering a higher interest rate for a larger amount of savings. In other words, the more money saved and the longer it takes, your account will be able to obtain higher profits, making your money continue to grow.

An account for your children

Have you thought about teaching your children the importance of saving? Creating a savings account for minors is possible. With this you will allow them to learn to take care and save their money. In addition, it will help them to know the value of money, how it is obtained, and they will learn to differentiate between need and desire from an early age. This money can then be used for their education or a project.

Be disciplined with your finances:

If you think you should program your savings, a quota savings account will help you fulfill this purpose. Define a date and a fixed amount to save every month, and your discipline will be rewarded with a preferential interest rate. In this way, you will be able to see your money grow, without the need to pay a maintenance fee. You will only need a minimum amount to open the account.

Remember that before opting for a savings account you should carefully analyze your needs and check with financial institutions about their interest rates, terms and conditions, so that your savings can grow. Saving responsibly will only bring benefits for you, your family or your business.