An OFW asked; how to invest money in BDO since I already have a savings account in this bank. I have a passbook that has more than hundred thousand savings in my account.
A good question for an Overseas Filipino Workers. Anne Nicole Reyes from Dubai asked a question last night via email. Here is her story;
“I am an OFW from Dubai, even before I really love BDO. I save money in BDO even when I was a sales representative in Manila. I just realized that my savings are not growing. What should I do to make money (savings in BDO) grow?”.
Learn to Invest Money in BDO not Just Save
If you want to make your money grow, invest it. But, the question of Anne is how can she invest money using her BDO savings account?
- Ask some of your relatives to open a UITF account for you. I don’t know if it’s possible since you are working overseas. Maybe you can call BDO customer service and ask how can you open a UITF. UITF means Unit Investment Trust Funds.
- Decide how much money you want to invest every month. The minimum investment is one thousand pesos.
- Decide which BDO UITF fund should you invest your money in. You can choose UITF Equity if you have a high risk tolerance or if you are an aggressive investor. Aside from equity fund, there is the balance fund, bond fund, etc. If your plan is to invest within 10 or more years, choose equity fund.
- You will invest money in BDO automatically every month once you subscribe to BDO UITF Easy Investment Plan.
When to Invest Money in BDO?
The question is when should you start investing money in BDO? The earlier you start, the more chances your money will grow overtime. Also, be reminded that “investing” should be done carefully. Many registered financial planners are conducting investing seminars abroad. Attend seminars and talk to a RFP before you invest your money.
That’s it. I hope you find this post useful. For further questions, kindly write it in the comment box below. If you want to start investing money in BDO, visit their official website and go to UITF (Unit Investment Trust Funds). Learn how can you start investing in BDO UITF, read procedures and guidelines in BDO website.