We all know that the ability to multiply our savings is a sign of good life skills and financial education, helping us realise our dreams and feel more secure in the face of the unpredictable events that life can throw at us. However, even if you've already read the previous article on effective ways to save, which you can see here, you might feel confused when you wonder where the safest and most convenient place to keep your money is.
In this article, we tell you how you can keep your money at maib, your options, and the conditions, aspects and benefits of each.
So, what are bank deposits, and what can they do for us?
Bank deposits are a tool that helps you keep and grow your money with the help of the interest rate offered by the bank. So, you create an account, deposit the amount you want for a fixed period, and enjoy your money being safe and growing without any effort.
First of all, you should choose the bank where you are going to make a deposit. To avoid failing, you should consider a few aspects: whether the selected bank is reliable, has a firm position on the market, what the allowed period of the deposit is, and what the interest rate is.
At maib, you have 4 options to deposit your money:
- Maib clasic - is the perfect deposit if you have money available and are ready to wait for maximum benefit. It can be opened for a pre-determined period and with fixed interest, with no possibility of early withdrawal.
More details on how the interest rate is calculated for the maib clasic deposit and other details about it can be found here.
- Maib classic+ - this is a suitable option for you if you opt for a long-term deposit and want to save while receiving passive income in the form of interest. This deposit doesn't allow additional deposits and early withdrawals.
Find out more about maib clasic+ here.
Another important thing to know about maib clasic and maib clasic+ is that additional account deposits and partial withdrawals are not allowed, and interest is accumulated monthly on the related card or account.
- Maib capital. If you want to be able to deposit money whenever you want, this might be the deposit that suits you best.
The deposit is open for 365 days. Find out more about maib capital here.
- Maib multiopțional. This deposit is the perfect option for people who want total independence and accessibility. So if you're going to deposit or withdraw money from your account at any time, keeping the minimum balance and without losing the interest you previously received, maib multiopțional might be what you're looking for.
More about the deposit here.
We know how important flexibility and time-saving are, and that's why we're letting you know that at maib, you can open a deposit via the maibank mobile app. In addition to convenience, you also get 0.5% higher interest.
All you have to do is open the maibank mobile app from your phone, choose the suitable deposit, and sign the contract using the unique code received via SMS.
At the same time, you can apply for a free maib card to which interest will be transferred monthly.
However, in addition to traditional deposits, which provide passive income, another option you can take advantage of with maib is corporate bonds. This tool offers the opportunity to invest and manage your savings safely.
On December 4, maib announced the launch of its second corporate bonds program that will run for 12 months. During this period, maib will launch 10 consecutive issues of corporate bonds of different classes, with a subscription rate of at least 1% for each issue, with a nominal value of 100 million MDL each.
First, the investment offers an annual interest rate, paid monthly, for 3 years. It is more convenient than other deposits and requires a minimum investment of only 20,000 MDL. Another advantage is that, in some cases, corporate bonds can be used as collateral or other monetary and financial tools.
Another advantage of investing in maib corporate bonds is that investors can withdraw the invested amount by simply applying to any maib branch, and the bonds can be traded through the Moldova Stock Exchange.
Read more about maib corporate bonds here.
Also, if the opportunities to save and multiply your money through investments have piqued your interest, you can learn more about this product here.
Which method of saving your money would suit you best?
Want to know more about choosing the right financial institution to deposit your savings?
