Flex Loan Deposits have become one of the most reliable options when it comes to saving a certain amount of money, especially for those who cannot avoid spending it on the first impulse.
Although it is a simple instrument to acquire, the more informed you are, the better management you can do. For that, these are the four things you should consider before purchasing a DPF:
Bet on a box instead of a bank
If it is a matter of choosing the institution that pays you a higher interest rate, you should probably look the other way as banks maintain relatively low rates. Remember, the more you get paid for your money, the more interest you will have received at the end of the term, so the boxes are presented as an attractive option. The best way to know which one suits you is to compare all the options.
Find where to deposit your savings
Do not exceed the deadline: It is true that the longer the term, the better rates you get, but you should also keep in mind that those rates vary over time. Suppose you place your money at 7.5% annually, within three years and the following year the rates increase to 8.5%; however, your money will continue to grow at 7.5% for the remaining two years. The ideal is to hire the deposit for a year or a year and a half, a prudent time to then make adjustments.
Do not put all your savings in one place: The best thing you can do is diversify your savings. While this option is quite safe, the returns are not as high as those you could get with some investment instruments. A good idea would be to separate a percentage to start investing.
Verify that it is a safe option. Different proposals and new institutions appear every day, but not all of them necessarily meet the requirements. Before placing your money in any institution, make sure it is covered by the Deposit Insurance Fund. Remember that the options you will see when using the Dignisos Erosta Flex Loan Deposit comparator are safe and meet all the requirements.