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  • 4 weeks later...
hey.... SDA's!! cool! how much is a minimum for an SDA? i'll call BPI tomorrow!

 

 

It depends on which bank you talk to. I heard BDO can accept an SDA placement for P100K but most banks will ask for a minimum of P1MM.

BPI has a minimum of 100K for SDA. Upon renewal, thay can reinvest the principal plus the interest rounded down to the closest hundred pesos. Balance of interest shall be credited to your settlement account.

Example: you place 100k. After 30 days, it earns P123. They can automatically renew it with the new principal at P100,100. The P23 goes to your settlement account

 

Down side now is that the SDA interest rate has been going down, but it will still net higher earnings than time deposit.

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BPI has a minimum of 100K for SDA. Upon renewal, thay can reinvest the principal plus the interest rounded down to the closest hundred pesos. Balance of interest shall be credited to your settlement account.

Example: you place 100k. After 30 days, it earns P123. They can automatically renew it with the new principal at P100,100. The P23 goes to your settlement account

 

Down side now is that the SDA interest rate has been going down, but it will still net higher earnings than time deposit.

 

Signs of the times, even BPI is now going after the retail market. In the meantime, BDO finds ways... to irritate you.

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Guest lustfortravel
Signs of the times, even BPI is now going after the retail market. In the meantime, BDO finds ways... to irritate you.

 

:lol: I agree, Dr. Pepper. Don't you just love their interesting ways of finding ways to charge you for dealing with them ? :lol:

Edited by lustfortravel
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:lol: I agree, Dr. Pepper. Don't you just love their interesting ways of finding ways to charge you for dealing with them ? :lol:

 

I do madam, but what I don't find funny is even staid old Metrobank is now doing the same thing, charging you through the nose for transactions mere mortals like me with small accounts are wont to do.

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Guest lustfortravel
I do madam, but what I don't find funny is even staid old Metrobank is now doing the same thing, charging you through the nose for transactions mere mortals like me with small accounts are wont to do.

 

As you said earlier, sign of the times indeed. It's a good thing BPI hasn't joined the bandwagon- you can deposit/withdraw at any branch of account and you don't get charged.

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  • 1 month later...
  • 1 month later...

I got this strategy from a fellow financial consultant. Given this capital, I open up a long term savings plan using 20% of the amount, the rest stashed in a midterm or short term fund. Every year for the next five years, I transfer 20% of the capital to the long term account.

 

This way, after five years, I have two active accounts rolling with the short/midterm fund still open with the interest incurred from the capital I put in the last five years. The key is diversification.

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  • 2 months later...
  • 2 weeks later...

for high return ng money m, invest on a prospective business. un nga lng, high risk dn cya. case in point, water refilling station.

 

list of possible business na pwd m pasukan w/ 200k while not quitting your day job:

1. small time import ng mga payong from china (start importing by April para sa May, nandito na ung items m). don't forget to look for dealers agad sa mga provinces.

2. if you know how to write progams, offer your services to small and medium companies. (time and effort lng to)

3. junk shop. buy scrap metals per kilo and export it to thailand.

 

if you're into less riskier options but w/ less returns:

1. invest in funds (para diversified ung portfolio m). pero not 100% sa funds.

2. you can put 20-30% dn sa time deposit (just to be safe para mern ka parin natatago)

3. allocate 15-20% sa short-term and long-term bonds

4. go for "blue chip" stocks. (but do your research. you can earn or fail misserably here)

5. DO NOT EVER EVER TOUCH: Futures/Options of any kind (currency, stocks, bonds, etc) or any kind of structured products for that matter. (if you don't understand it)

6. DO NOT EVER EVER EVER TOUCH: leverages sa mga investment options m KHT NA YOU FULLY UNDERSTAND HOW IT WORKS. (you may earn 10x the value of you investment in just a day, pero 85% of the time, you will be in debt 10x your initial investment)

 

 

maging mautak ka lng. e.g.: bank is offering you an FX option for AUD strike 0.96 for 1 month. current price is 0.91. interest rate of 3% per anum.

 

translation: bank projects AUD is going up by next month. do you want to BET that it will not reach 0.96? if your guess is right, for an initial investment of 100k AUD, you get around 200+ AUD. if you're wrong, you loose around 700+ AUD per 0.01 cent above 0.96.

 

think outisde the box: sinabi na sayo na tataas ung AUD, bumili ka nalang ng AUD tapos benta m after 1 month. higher return a lot less risk!

 

Hope this helps!

Edited by test1985
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  • 1 month later...
:lol: I agree, Dr. Pepper. Don't you just love their interesting ways of finding ways to charge you for dealing with them ? :lol:

 

unfortunately we are still fortunate back at home, right now here in uae the banks are completely going bananas on how to charge you....errors in transfers and other transactions are charged against you for the correction...fee charges even if your credit card hasnt been activated....automatic subscription of credit insurance...that is completely useless as this specifically indicate it will not cover you when you lose your job...recession proof for them...

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  • 4 weeks later...
unfortunately we are still fortunate back at home, right now here in uae the banks are completely going bananas on how to charge you....errors in transfers and other transactions are charged against you for the correction...fee charges even if your credit card hasnt been activated....automatic subscription of credit insurance...that is completely useless as this specifically indicate it will not cover you when you lose your job...recession proof for them...

 

right reason why to give up bank accounts in uae. come on meron na tayong labor insurance para sa work permit tapos panibagong insurance courtesy of Aig.

 

anyway bumabanat naman ang uae ng hidden tax or indirect tax, sky rocketeering fines,fees and penalty. ask the people how much ang penalty sa overstaying. anyway back in philippines matinding tax lang talaga ang haharap sa mga ofw, while eeryone knows na sa kurakot na mga opisyal din ang bagsak nun at hindi sa makaakbuting proyekto.

 

 

back in investment, franchising parin ang panalo. may mga franchise na worth 50k. 99% success.

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  • 2 weeks later...
right reason why to give up bank accounts in uae. come on meron na tayong labor insurance para sa work permit tapos panibagong insurance courtesy of Aig.

 

anyway bumabanat naman ang uae ng hidden tax or indirect tax, sky rocketeering fines,fees and penalty. ask the people how much ang penalty sa overstaying. anyway back in philippines matinding tax lang talaga ang haharap sa mga ofw, while eeryone knows na sa kurakot na mga opisyal din ang bagsak nun at hindi sa makaakbuting proyekto.

 

 

back in investment, franchising parin ang panalo. may mga franchise na worth 50k. 99% success.

 

Can you give us the names of these franchises?

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hello everyone, is there anyone here who are in financial institutions in philippines. im working here in UAE baka meron po dito financial credits for OFW like us, hirap kasi pag end of the month ang salary we dont have any chance to get some cash advancements na dito sa dubai due to economic constraints. feel free lang po to send me some quiries, serious client here in abroad.

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hello everyone, is there anyone here who are in financial institutions in philippines. im working here in UAE baka meron po dito financial credits for OFW like us, hirap kasi pag end of the month ang salary we dont have any chance to get some cash advancements na dito sa dubai due to economic constraints. feel free lang po to send me some quiries, serious client here in abroad.

 

There are many Philippine banks who have overseas remittance centers abroad. I'm not sure who is in UAE but some commercial banks do offer OFW loans.

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  • 1 month later...

Are you sure about your math, sir? Sure banks can give you 2% but its on a per annum basis, I think. I haven't heard of any bank that would give you 24% return in a year ;)

 

yes. the best so far is BPI. when i entered my money in TD, BPI offers 6% interest pe annum(the highest interest

that time). The TD gives me 500 per month. I'm now into real state investing. buy and sell houses. buy house then

I offer rent to own. Better than stocks!!! Stocks don't give you at least 10% interest...

 

Are you sure about your math, sir? Sure banks can give you 2% but its on a per annum basis, I think. I haven't heard of any bank that would give you 24% return in a year ;)

 

yes. the best so far is BPI. when i entered my money in TD, BPI offers 6% interest pe annum(the highest interest

that time). The TD gives me 500 per month. I'm now into real state investing. buy and sell houses. buy house then

I offer rent to own. Better than stocks!!! Stocks don't give you at least 10% interest...

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