- Classic monthly saving formulas will be phased out from January 1, 2017.
- Have you ever thought of buying a diamond as an alternative
End of traditional monthly saving formulas, buying a diamond as an alternative?19 Jul 21
End of monthly savings
For a number of years all the classic big banks offer the formula “monthly savings”. On such saving accounts, savers can put aside a monthly maximum amount at a better rate than traditional saving accounts.
However in the meantime the economic reality has overtaken this way of saving. The banks got stuck with a surplus of savings which they have to hold against an expensive rate at the European Central Bank. They namely possess more savings than they can spend in lending.
KBC is the first bank that will no longer offer this savings formula starting from January 1, 2017. The chances are that other banks will follow. Those who are looking for a higher return, should explore investment products. Based on the investor profile, there is a wide range of alternatives.
Have you ever thought of buying a diamond?
Diamonds are a good alternative for investors and are suitable for the diversification of the investment portfolio. Buying a diamond is a suitable investment alternative for several reasons, even when you have a smaller amount to invest.
- The last 30 years diamonds have proven to withstand economic and financial crises.
- The prices continue to rise on the world market. This is quite logical, as the demand from the BRIC countries and growth economies is increasing, but the supply of diamonds is not growing as the exploitation of diamond mines is strictly controlled.
We also want to give you some extra tips:
- In determining the amount you want to invest in diamonds, keep in mind that diamonds are part of an overall portfolio. Determine the share you want to invest in a diamond and do not diverge when searching for the right diamond.
- Diamonds are no shares and the price is not determined by the market of online bidding buyers and sellers. However, it is also possible to compare diamond prices online. Take advantage of this opportunity.
- Only buy diamonds certified by GIA, HRD or IGI. Later on if you want to re-sell the diamond, buyers will ask for such certificates.
Would you like to read more about the opportunities of buying a diamond?
- Buying loose diamonds as an alternative to saving accounts
- Buying a diamond: Diavik diamond mine in the spotlight