Just received an email of a friend who works in Citibank there in the Philippines.
Citibank is offering a new type of money placement, below are details from my friends email:
Dear friends,
If you're searching for opportunities to make the most of your money, or simply looking for a better alternative to your time deposit or savings account, here's something you might be interested in.
Today, Citi launched a first in the market - a savings account with interest rates at par or even better than a regular time deposit. It's called the Citi e-Savings Plus.
Citi e-Savings Plus offers a high interest rate of 4.75% gross p.a.* with no fixed term. In case you need to withdraw your money immediately, you can do so conveniently, without pre-termination penalties. What's more, e-Savings Plus is an online account that lets you check your account balance and transfer funds as conveniently as you check your email.
If you're interested or want to know more about this product, I can tell you more about it, or even set an appointment between you and an account officer
at any Citibank, N.A. or Citibank Savings branch that's near you. Just email me back or give me a call.
Regards,
Edhel Marcelo
*4.75% gross p.a. is applied to the portion of the deposit above P100,000
Member of the Philippine Deposit Insurance Corporation. Maximum deposit insurance for each depositor is P250,000. Subject to PDIC terms.
If interested you can email her at edhel.marcelo@citi.com
Tuesday, May 5, 2009
Citibank's new investment product
Sunday, April 5, 2009
Bear market
As everyone is aware, we are in what investors say "Bear Market". It is a stock market situation characterize by a continuous drop in market and investor confidence in the market within a period of at least 2 months and a drop of about at least 20% of the financial market.
What does this thing mean to an ordinary people like you and me? Well as you know now companies are doing cost cutting measures to stay profitable in spite of the great lost brought about by this economic downturn. Back in the Philippines I heard the continuous job cuts and business closures just like that of Fedex who opted to transfer operations to China for cheaper operating cost, cutting working hours and salary reduction plans. Its a most for companies to do such to continually earn investor confidence in them and prevent owners from backing out their investment.
But in spite of the downturn, this period of market slump is also one of the awaited time for investors for every stock is on sale. It is more called "The Buyer's market" due to the fact that every stock in the trading floor is on sale. Its the best time for newcomers to the stock trading game to invest money because their money can afford to buy good stocks. You can visit online stock brokers to help you out in starting your investing experience. You can visit citiseconline.com to try their 7 day trial period. If you have no idea where to start and are afraid that just asking a stock broker will be with a heavy fee try attending free seminars offered by the PSE. You can visit their website pse.com.ph for schedule of free seminar on stock trading.
As they say financial ignorance is costlier so start educating yourself about the stock market and investing(yup I just started learning about these things and i'm now in my late 20's). Start reading the business section of the newspaper like Philippine Daily Inquirer and reading business and financial books like 8 Secrets of the Truly Rich by Bo Sanchez or Think Rich Pinoy by Larry Gamboa or Rich Dad,Poor Dad by Robert Kiyosaki
