Saving vs Investing in Jamaica

Savings is very important but knowing where to put your savings is vital for your financial goals. There are many saving options in Jamaica, the most common is opening a savings account with a typical commercial bank however, this may not be the most feasible option for the savvy investor. If you are looking for growth and security it is best to place your money in a pool fund. Currently commercial banks are issuing rates of less than 1% for there saving accounts, which is not a lot given that this is also taxable.

If you are a person with a lump sum of money, who does not have immediate spending needs, such a person could secure that money in an instrument that offers a guaranteed return that is also non taxable. One such instrument that we will be speaking about today is “Sagicor Guaranteed Investor”. Sagicor states that the Guaranteed Investor is a TAX-FREE, non-participating, interest-sensitive investment product which offers nominal insurance coverage and can be surrendered without penalty at any interest review date. The policy is available for a minimum investment amount.
This product is an investment pool that guarantees individuals 3% non taxable returns on their portfolios with projected returns at 4% but is however performing at 10%. This interest rates are subject to change depending on the performance of Sagicor’s investments, however you will always be guaranteed 3%
I would definitely recommend for persons reading this to speak with a financial adviser or accountant before committing to this product, but comment down below if this investment pool sounds good to you and if you know of others with similar or better rates and benefits. You can get more information about the Guaranteed Investor by clicking the link down below.

https://www.sagicorjamaica.com/personal/insurance/individual-life/investment/guaranteed-investor