The Ber months are exciting for many reasons, and among them is receiving our 13th month pay bonus! When we get a windfall like this, it’s okay to treat ourselves a little, but this is also the best time to set aside money for the future, so that the enjoyment and returns of your hard-earned money will not just be for a fleeting moment.
Allow CIMB Bank Philippines, the country’s most awarded digital-only commercial bank, guide you on the ways you can manage your holiday bonus that can be quite rewarding in the long run:
Explore long-term investments
This is a good time to start a fund for future investments like real estate or get an educational plan for your little one while your child is still a baby. Use your bonus as your starter fund for things you will need in the future.
Upskill and invest in yourself
Another long-term investment that sometimes gets overlooked is investing in ourselves. Whether it’s a job-related skill or one that improves your day-to-day life, learning new skills can pay off in the long run.
Save it and make it grow
Having extra money is a good time to consider new opportunities to save and grow your funds as well. You can opt for riskier financial tools like buying stocks or opt for more conservative options like bonds and time deposits. If you’re looking for a more straightforward and fuss-free way to grow your savings in the bank, then time deposits are your best friend.
With time deposits like MaxSave from CIMB Bank PH, you can choose from four different terms for your savings that best fit your goals: a 3-month term that lets you earn 5.5% per annum (p.a.) interest, or earn 5.75% p.a. in 6 months for your mid-term goals, or all the way to 12- and 24-month terms that both allow you to earn interest rates as high as 6%p.a.
With MaxSave Time Deposit, a principal amount of PHP 5,000 is all you need to get started. You can even open up to five accounts, one for each of your savings goals.
Make the joy from your holiday bonuses last even beyond the holidays with the help of this next-generation time deposit account. To learn more about MaxSave, visit cimbbank.com.ph/maxsave
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