Where to open savings account now?

[redmanjp]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

[zoom rader]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

Ur guardian life agent has a quota maintain for his bonus

[timelapse]

Credit Unions are the way to go.Significanly less charges

[VexXx Dogg]

massy finance was advertising huge returns on fixed deposits. Can't find ad atm, that was a few months ago. Call them to compare

[16 cycles]

i remember CLICO pushing ppl to 'invest' just before the close down ....

once Guardian covered as banks (75k? or is it 65k?) - proceed with caution

[agent007]

OP, you interested in a forex webinar? Guaranteed returns for your money!

[redmanjp]

OP, you interested in a forex webinar? Guaranteed returns for your money!

that guarantee backed by Central Bank?

[Redman]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

Ur guardian life agent has a quota maintain for his bonus

Money in the bank is giving negative real returns.

I would suggest - keeping emergency funds only in deposits. 3-6 months living expenses

Put the rest of your money to work.

Equity Mutual Funds(UTC is actually a good mid point-with the guarantee and a interest component)
Stocks-
Real estate
Or a business of your own.

Point here is that the inflation rate here is much higher than you will get in ANY deposit account,therefore you are losing purchasing power.

Get your money working by owning a part of a business-directly or indirectly.

[zoom rader]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

Ur guardian life agent has a quota maintain for his bonus

Money in the bank is giving negative real returns.

I would suggest - keeping emergency funds only in deposits. 3-6 months living expenses

Put the rest of your money to work.

Equity Mutual Funds(UTC is actually a good mid point-with the guarantee and a interest component)
Stocks-
Real estate
Or a business of your own.

Point here is that the inflation rate here is much higher than you will get in ANY deposit account,therefore you are losing purchasing power.

Get your money working by owning a part of a business-directly or indirectly.

Good Advice

[timelapse]

Buy expensive guitars.
Give them to me.
Win/win

[RedVEVO]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

Ur guardian life agent has a quota maintain for his bonus

The above is actually very correct .

Guardian has these agents all over the place , on the streets and at home on computers working to get your business like a one legged man kicking his butt .

They are given a quota like in any sales job and if they do not maintain quota , it's

OP try UNIT TRUST ..

[redmanjp]

what rates UTC have? i have an old account with them but i stop putting it there when RBL ban me from transfering funds directly from my account

[Redman]

Decide what you want to keep as a security blanket, keep
30% cash at home, the rest in your bank.
Don't mess with it.
then Plop all your remaining cash into theUTC 1st scheme add to it every month.
Consider that paying yourself first.

Rates are irrelevant today and will be come more so.

Inflation is going to spike soon anyhow, so minimize your cash holdings look for finite assets in ventures than generate a return.

[bluefete]

massy finance was advertising huge returns on fixed deposits. Can't find ad atm, that was a few months ago. Call them to compare

HUGE returns? Really?

It was about 0.5%-2% on fixed deposits.

[Mmoney607]

Lenn capital certificates still in operation, idk how, you ain't hear any complaints about them yet

[daring dragoon]

keep your money home. when the next blackout happens you would be ahead of the game as linx will be down and cash will be king.

[VexXx Dogg]

massy finance was advertising huge returns on fixed deposits. Can't find ad atm, that was a few months ago. Call them to compare

HUGE returns? Really?

It was about 0.5%-2% on fixed deposits.

'compared with offerings from other banks it stood out.

[bluefete]

massy finance was advertising huge returns on fixed deposits. Can't find ad atm, that was a few months ago. Call them to compare

HUGE returns? Really?

It was about 0.5%-2% on fixed deposits.

'compared with offerings from other banks it stood out.

The sad thing is that none of those returns match the inflation rate. They are all below the inflation rate.

So whether you choose to go with the banks or Massy finance, you still losing money.

[bluefete]

Pure madness with these rates. Lose-lose big time.

https://tt.ansamerchantbank.com/ansa-me ... ank-rates/

[tarzan]

If by “savings account” your agent means opening a mutual fund account with guardian asset management, sure by all means go straight ahead and do it, the rates are comparable to that of credit unions and you have flexibility to add lump sums and withdraw at anytime.

If they are referring to the IPI which is sold by guardian life then stay far away, that’s for the savvy investor who has money to risk and not have to worry about. There are also front end and back end fees attached to that structure. So basically you would have to pay a fee if you were to withdraw within a certain time frame of opening the account.

[Wolfgang123]

Invest in a rbc mutual fund.

[Redman]

In terms of TTD mutual funds, the UTC 1st scheme is the only fund that has a guarantee on principal.

[bluefete]

In terms of TTD mutual funds, the UTC 1st scheme is the only fund that has a guarantee on principal.

Correct - Once you keep the funds in for no less than 3 years.

[nervewrecker]

My Guardian Life agent keep harassing me to open a saving acct with them (i already have a pension plan with them) saying they have good rates now. But I wondering where else have good or better rates? i have money in d bank that not earning any interest just sitting there.

What about credit unions?

Ur guardian life agent has a quota maintain for his bonus

Them is pest.

When you want information on anything from them or sagicor is level run around, nobody know anything, phone hanging up or loosing service, false names and one set of fancy terms they want to BS you with.

And I talking guardian bestest best agent.

[tarzan]

these days anyone can be an agent, i see men leave from washing car to become financial advisors, all companies just recruit anybody who could dress sharp and talk smooth.

[VexXx Dogg]

these days anyone can be an agent, i see men leave from washing car to become financial advisors, all companies just recruit anybody who could dress sharp and talk smooth.

Worse yet the "forex/NFT/crypto gurus"

[redmanjp]

If by “savings account” your agent means opening a mutual fund account with guardian asset management, sure by all means go straight ahead and do it, the rates are comparable to that of credit unions and you have flexibility to add lump sums and withdraw at anytime.

If they are referring to the IPI which is sold by guardian life then stay far away, that’s for the savvy investor who has money to risk and not have to worry about. There are also front end and back end fees attached to that structure. So basically you would have to pay a fee if you were to withdraw within a certain time frame of opening the account.

is that self. but he says its guaranteed by Central Bank - well what u originally put in

[RedVEVO]

If by “savings account” your agent means opening a mutual fund account with guardian asset management, sure by all means go straight ahead and do it, the rates are comparable to that of credit unions and you have flexibility to add lump sums and withdraw at anytime.

If they are referring to the IPI which is sold by guardian life then stay far away, that’s for the savvy investor who has money to risk and not have to worry about. There are also front end and back end fees attached to that structure. So basically you would have to pay a fee if you were to withdraw within a certain time frame of opening the account.

is that self. but he says its guaranteed by Central Bank - well what u originally put in

So if you lose your money ?
Is that guaranteed by the Central Bank ?

Unit Trust have "aggressive funds" and you may have to read the fine print but your principal is safe.

[tarzan]

as far as my understanding goes the IPI is not covered by DIC also take note the IPI has many charges to it like i said earlier it is not designed for the small investors , it was created so agents can make lump sum deposits and get high credits and commissions , at no point its anything close to a mutual fund your funds will be locked in and if you were to request a withdraw you will get a hefty charge

[The_Honourable]

as far as my understanding goes the IPI is not covered by DIC also take note the IPI has many charges to it like i said earlier it is not designed for the small investors , it was created so agents can make lump sum deposits and get high credits and commissions , at no point its anything close to a mutual fund your funds will be locked in and if you were to request a withdraw you will get a hefty charge

Yes you would be locked in for the first five years. If you attempt to withdraw during that time, heavy charges. After the 5 years you can withdraw at any time. Now how the IPI performed after the 5 years is a different question.