In my previous post, I wrote about investing in SDA, and choosing BPI because it had the lowest minimum investment which was only P50,000. Now, BPI announced it is raising the minimum investment to P500,000 effective this December. And my investment is below that amount.
I'm not sure yet, whether to just to invest it in bond or place it somewhere else. Then it will be subject to a holding period, where there is a pre-termination fee should you decide to withdraw it earlier than the required period.
[Update 1/13/2013] BPI Maxi Saver may be the next best thing, which shares similar features with SDA. It is liquid, in fact there's no lock-up period and low risk which is ideal for emergency funds. 1.25% interest + 1% bonus if you don't withdraw any money.
What will happen to enrolled accounts with less than 500K
I talked to a BPI representative, and she said that the amount will placed to the settlement account if the enrolled amount is less than the minimum. It will not be re-enrolled this December. My investment is due every 28th of the month; she said that it is eligible for one last iteration.What's the next best thing to do
[Update 1/13/2013] BPI Maxi Saver may be the next best thing, which shares similar features with SDA. It is liquid, in fact there's no lock-up period and low risk which is ideal for emergency funds. 1.25% interest + 1% bonus if you don't withdraw any money.
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