In this article I will talk about my research on where to park money in a savings account, the best choices of June 2020.
Some of you asked me to talk about savings accounts, that’s it through a general analysis, from situations with the best market offers to protect your capital.
I am aware that most people have a low risk appetite, I also respect it because not everyone can work 10 hours for 5 days a week on financial markets.
During Covid 19 the size of savers’ bank accounts increased, logically families are living in a state of uncertainty about the future in so many aspects (work, money, politics). The word “saving” played a central role and bank accounts showed us this figure, compared to 2019 there was a growth of 6.5%.
In this context savings accounts are becoming protagonists, the reason is simple have a guaranteed and “safe” return, where risk is low unless the bank has bad requirements.
Before entering into various offers’s details, I would like to clarify the reason why savings accounts compared to classic investment:
- Non-risk invested capital
- The range of banks’ supply at the yield level
- Guaranteed yield at the beginning of the contract
- Duration of the constraint based on
- Portfolio diversification
Beware, it is not a product aimed exclusively at those who are “afraid” of losing money, indeed savings account is a way of diversifying your portfolio.
I explain better, if I am an investor I have a portfolio consisting of 40% shares, 25% bonds, 5% gold, 20% Etf, 10% deposit account, of examples I could make many, everyone has his strategy and risk appetite.
To be clear, we’re not talking about “miraculous” returns but if you think that so many people keep their money in the bank account sleeping ,technically it’s an incorrect choice. I always remind you that money is devalued over time, I know that many people do not think about it but look on Google the word “devaluation” and you will definitely have answers.
Of course if you decide to invest, you will have to pay attention to contract’s conditions (duration, return, constraints, penalties), but in reality it is something simple.
My advice is not to be afraid to invest, but to evaluate the best offers that suit you, below you can find a small list:
| Bank | APY |
| Vio Bank | 1.35% |
| UFB Direct | 1.35% |
| Marcos Goldman Sachs | 1.30% |
| American Express | 1.15% |
