With all the news of bank account theft, where can you put your money?
Are you also worried about the news of bank account theft and are you looking for an alternative way to store your money in your bank account? Here are 4 ways you can deposit your money with low or no risk.
1. Money Market Funds
Money Market Fund (MMF) is a low-risk or even zero-risk investment that allows investors to earn a slightly higher return on investment than time deposits.
Money market funds are offered by various domestic fund institutions, and investors can earn interest by simply transferring their money into a money market fund. The interest will be calculated on a daily basis, so if an investor deposits for 1 day, they will receive 1 day’s interest, and if they deposit for 10 days, they will receive 10 days’ interest.
People can withdraw from the money market fund at any time and the bank account from which they receive the money must be in their own name.
2. SSPN
The SSPN is a fund launched by the PTPTN to encourage people to save for their children’s or their own education early. Based on previous years’ data, SSPN pays out at least 3% interest. Once an account is opened, people can deposit and withdraw money at any time. The bank account to receive the money must be in your own name.
3. Stock Trading Account
Trading accounts also offer interest rates of 1.20% to 1.30%. As long as you deposit your money in the Trading Account, you will receive interest on your deposits at the end of each month. Users can also withdraw and deposit from their stock trading account at any time. The receiving bank account must be in your own name.
4. Time Deposit via Over-the-Counter
You can also choose to deposit time deposits through the bank counter, as time deposits deposited in this manner can also only be withdrawn over the counter and must also be withdrawn through the same branch. If you are depositing in branch A of the bank, then you must withdraw through branch A and you cannot withdraw through branch B.
