It's been a few years since a ‘standard savings account’ last paid a decent rate of interest. Interest rates are currently at an all-time low and there is no sign of that changing in the short term.
Even so, there are still good reasons to put money into a savings account, such as the security, flexibility, and sense of familiarity it provides. However, it’s not the ideal way of putting your money to work at the moment.
Did you know that...
While you're earning next to nothing on your savings account, inflation is eating away at your purchasing power. In other words, if your savings stay the same and inflation is running at an annual rate of 2%, you will be able to buy 2% less with your money after one year.
Fortunately, investing could well be the way for generating the necessary extra returns. However, you should always take account of a few basic rules, like spreading your investments properly, having a sufficiently long-term investment horizon and keeping a savings buffer to cover any unexpected expenses.
And you're not on your own. At KBC, we have many experts who would be more than happy to guide and advise you, regardless of whether you're a novice or more experienced investor, have a large or small amount of capital to invest or want to make periodic investments or a lump-sum investment (or indeed both).
Personal investment proposal straight to your phone
Today's technology allows us to provide you with investment proposal wherever you are and whenever you want. And that advice is tailored to your personal investment needs. If you want to set up an investment plan for investing, say, a small sum every month, we'll get you up and running in just a few taps.