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Humanising Finance
August 2018
Make Your Money Work Hard for You
     

Make Your Money Work Hard for You

 
We work hard and save up so that we can meet our financial goals, be it to buy that dream home, go for an exotic holiday or finance important life events.

Investing wisely, choosing the right credit card and signing up for bundled savings plans are three tips that can lead you closer to your goals.
 
1. High-yielding savings account
This seems the most achievable method - make a comparison and choose a savings account that offers a higher interest rate. If you have a specific goal that you are saving for, such as to fund a child's education in 18 years, take steps today to achieve this with financial instruments that suit your risk appetite.

Maybank Premier clients have the option of taking up a bundled plan called the "Maybank Premier Save Up". Choose three products from a suite of 11 savings, home loan, payment, investment and insurance products, and earn up to 3.3% p.a. interest on the first S$150,000 deposit balance. To qualify as a Maybank Premier client, make a deposit and/or investment amount of at least S$300,000.
 
2. Diversify your investments
 
Warren Buffett, the billionaire stock investor, once said, "Diversification is protection against ignorance." He advocates the need for diversification in a stock portfolio by investing in a variety of companies and different sectors to mitigate risks. In this way, an investor can use the gains from one sector to counterbalance the losses from another.

If you are a Maybank Premier client, you can access first-hand information on market performance and your investments, as well as consult a dedicated relationship manager on your financial needs.

For those who are seeking capital gains, use a portfolio tracker to set selling price targets, and divest the stock when it reaches the target price. The time horizon is also an important factor. Choose liquid investments such as unit trusts and stocks if you would like to have the flexibility to liquidate your assets anytime.
 
3. Accumulate credit card rewards
For savvy credit cardholders, pick a card that offers rewards which are relevant to your lifestyle and accumulate reward points to redeem gifts and benefits that you like. For example, an air miles card will come in handy for frequent travellers, while drivers will relish a card with petrol rebates - provided you are disciplined in paying off your bill every month, otherwise the credit cards' interest costs will outweigh any savings you have from the card.

Maybank Premier clients are issued with a Maybank Premier Wealth World Mastercard that provides access to airport lounges and rewarding indulgences at hotels and dining establishments.

Last but not least, before you embark on any investments, remember to put aside an emergency fund equivalent to six months of your living expenses. With a contingency plan in place, you can start investing the extra money to grow your wealth.
 

How to earn higher interest from Maybank Premier Save Up

For example: You performed the following transactions recently
 
1 GIRO S$2,000 every month to other billing organisations
2 + Spent S$3,000 every month on your Maybank Premier Wealth World Mastercard
3 + Purchased a Unit Trust of S$100,000
 
With S$100,000 account balance in your Maybank SaveUp Account, you will enjoy a total interest of S$273.28 per month* on your SaveUp Account.

*Total interest = Base interest of S$23.28 per month + Bonus interest of S$250 per month
 
Take up 1 product Take up 2 products Take up 3 or more products
Earn 0.4% p.a. bonus interest Earn 0.9% p.a. bonus interest Earn 3% p.a. bonus interest
+ base interest rate of up to 0.3125% p.a.

Receive up to 0.7% p.a. total interest

Receive up to 1.2% p.a. total interest

Receive up to 3.3% p.a. total interest

 
You will earn a prevailing interest rate of 0.1875% p.a. on your first S$3,000 deposit balance, 0.25% p.a. on the next S$47,000 and 0.3125% p.a. on the remaining above S$50,000.
   
 
To start earning bonus interest, visit maybank.sg/pwsaveup for more details or any Maybank branch to open a Maybank SaveUp Account today. Maybank Premier clients may enjoy exclusive banking services at three luxurious Premier Centres located at Maybank Tower, Maybank@HollandV and Maybank@MarineParade. For the full terms and conditions, please visit the website.

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.

Disclaimer: This message is not an advice or recommendation for any financial planning, investment, legal, tax or other purposes and, accordingly, no responsibility or liability is assumed by us or our affiliates, whether directly or indirectly, from any person taking or not taking action.

 
Always wanted to find out more about a finance-related issue? Email us at: corporateaffairs@maybank.com.sg
 
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