Let your money do the work. You do the living.
Jan 31, 2023
Saving money provides a financial backstop for life’s uncertainties, increases security and peace of mind. Regardless of your income level or financial situation, setting money aside will allow you to plan well ahead, and achieve your desired goals.
One of the greatest benefits of saving money is the ability to plan for the future. Whether it’s saving for retirement, a child's education, or a down payment on a home, having a nest egg of savings allows you to make important life decisions with confidence. Having an emergency fund can provide a safety net in case of unexpected expenses, such as a medical issue or job loss.
Savings can bring about new opportunities to invest money and earn higher returns on your investments. Living paycheck to paycheck can make it difficult to work towards the bigger picture and make long-term financial plans.
Saving money allows you to gain control over your finances. By setting financial goals and creating a savings plan, you are taking steps to actively manage your money. When saving money, you are not only setting yourself up for a better financial future, but you are also developing a sense of self-discipline and responsibility.
A smarter way to save
FIMBank recently announced higher interest rates on its Easisave Euro fixed term deposits. The interest rate for one year is 2.5%, for two years is 2.75% and 3 years is 3%. Rates are on a gross per annum basis.
An account may be opened via the Easisave portal by accessing www.easisave.com. A minimum amount of €1,000 is required to open a fixed term deposit. Interest on an Easisave fixed term deposit is paid quarterly, annually or on maturity. There are no hidden fees or bank charges.
Easisave fixed term deposits are covered under the Depositor Compensation Scheme in Malta, enabling peace of mind for customers. In case a bank participating in the Scheme is unable to meet its obligations towards the depositors or has otherwise suspended payment, the Scheme pays compensation to depositors up to a maximum amount established by law (currently set at a maximum of €100,000 or equivalent). Easisave offers easy access to your funds and can be effectively managed from the comfort of your home, without the need to visit the Bank. FIMBank also launched a ‘banking at your doorstep’ value offering, where one of the Bank’s representatives can collect the account opening documentation from your home or office, to enable further convenience.
FIMBank’s Head of Cash Management, Chris Trapani stated that: ‘’We remain committed to providing value-added interest rates through our Easisave platform. Our customers are the integral focal point for all product-related decisions. We will continue introducing strategies that deliver banking convenience and provide a superior client experience.”
To learn more, visit www.easisave.com or contact the dedicated helpdesk on 2132 2102.
