Compound Interest

[thamvok]

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ask lang ko if naa bay bangko ni offer ug compound interest sa ila costumer

[istoryamember]

time deposit

[medwarc]

doubt ko sa bangko bro kay murag simple interest ra pud na ang ila time deposit though I'm not sure...

[Daddy's.Little.Girl]

Bro,

Compound Interest programs are more appreciated on a long term investment vehicle.
May i ask for what purpose or specific goals would you want your money earned to be used for? and when are you going to use it?



Thanks

[medwarc]

kana nuon naay bangko nga mu offer nimo bro nga double your money in 5 years for example, kana compound interest jud na. pero wala na may big banks mu offer ug ingon ani ron....

[istoryamember]

compound interest meaning ang interest nga na gain nimo from your capital imo gi add pag reinvest nimo. Sa time deposit, if mo mature after 3 months then imo i-TD balik together with the interest, then it means gigamit nimo ang rule of compound interest. I suggest TD sa bank kay iyang compounding frequency (3 months usually) dali unlike if imo deposit as pure savings which is yearly ang pag compound ana. Mas maayo jud mangita ka ug compounding frequecy nga mobo para mo gain dayon ug interest ang imong na gain.

[medwarc]

diha ka patyon withholding tax bro. alkansi.

[istoryamember]

yeah tama. but the ts was asking about compound interest sa bank. personally, I would go for a riskier nga investment like stocks.

[reachingout]

unsa man ang ni compound nga interest ang sa utang o ang savings...

[Metz]

unsa man ang ni compound nga interest ang sa utang o ang savings...

it applies to both.

If ang interest rate sa imo utang kay 4% per month.
Imo utang modouble every 18 months or 1.5 years kung di ka mobayad.
If imo investment mo earn ug 12% per year. Mo double every 6 years.
Usually maspaspas mo tubo ang utang kaysa investments.
Avoid utang unless emergency. Kung mangutang nalang for trivial stuff, mag antos jud ka sa payments. Try to buy in cash.

Solution sa utang, try debt consolidation, eliminate money leaks, and if get a part time job or 2nd income para paspas mahurot ang utang. Daghan mapilian ani.

If nangita mo ug high return investments I can help with that.