If you are a user of Gcash, you have most likely come across their feature that allows you to either save or invest. So the question is, Gcash: Invest Or Save Money, which is best?
We’re going to be going through the Gcash investment money interest rate, and whether you should choose a Gcash invest or save money route for your income. But, first, let’s look at some of the features of investing and saving with Gcash.
Gcash Invest Or Save Money – Which Is Best?
Investing With Gcash
Investing with Gcash is a straightforward process. Once your account has been set up and verified, you’ll be able to start investing with as little as 50 pesos. Below we have included the benefit of investing with Gcash
- You Can Start Investing With As Little As 50 Pesos
- Gcash Can Be Managed Through The Mobile App
- You Only Need Account Verification To Invest
- Currently, No Admin/Sales Fee
- Gcash Has A Wide Range Of Investment Products
A common question asked is, What is the Gcash investment money interest rate? The interest you will receive depends upon the product that you have decided to invest in. Unfortunately, similar to the Philippine Stock Exchange, there is no guaranteed interest rate.
In other words, your investment returns with Gcash could be much higher or much lower than other people depending on the amount that you have invested, the product that you have selected, and the overall market.
Saving With Gcash
Similar to investing with cash, saving is also another popular feature with Gcash in the Philippines. If you are wondering what the Gcash saving interest rate is, currently, it is 3.1% Annually. Below we have put together a full list of the Gcash savings features.
- 3.1% Annual Interest Rate
- You Can Start Saving Within A Few Minutes
- You Only One ID Required
- You Can Gain Coins Which Can Be Converted To Cash
- No Initial Deposit Amount
- No Maintenance Fee Amount
- Regulated By The Bangko Sentral Ng Philippines
- Powered By CIMB (currently One Of ASEAN’s Largest Banks)
As you can see from the features above, Gcash is effective and has several additional benefits compared to mainstream banks.
After looking through the benefits of investing with Gcash and the benefits of saving with Gcash, the question remains, Gcash Invest Or Save Money?
Gcash Invest Or Save Money – Which Is Best?
If you are wondering whether to invest or save money on Gcash, the answer ultimately lies with your current financial situation.
Looking at the Gcash saving right of 3.1%, it would be better to save money if you only have a few thousand pesos or less.
There is a Golden rule in investing: you should never invest any money unless you have a solid emergency pot, as emergencies can sometimes be right around the corner.
Additionally, if you only have a few hundred or a few thousand pesos to invest, the returns might not be as high as you were expecting.
Some people choose the route to take (Gcash invest or save money) to invest their money until an emergency happens, as Gcash investment can sometimes bring higher returns than Gcash savings rates.
The problem with this method is that if the investment is down and it is an emergency, you will likely withdraw less money than you put in, so special consideration should be made.
On the other hand, you already have an emergency fund and several thousand to invest (which you are prepared to lose), then investing rather than saving would be a better option.
You also have the extra to invest in other areas such as the Philippine Stock Exchange or Jollibee. Many financial gurus worldwide have stated on record that the first investment a person should make should always be on a business (something they can control).
More Banking & Saving Guides
- How to Open a BPI Bank Account in the Philippines in 6 Easy Steps 2023
- Best Banks To Open Savings Account Philippines 2022
- 10 Reasons Why You Should Be Budgeting and Why Having a Budget is a Good Idea
- Planning Your Monthly Budget: Tips to Get You Started 2022
- Best Dollar Account In The Philippines
- 10 Tips To Save Money From A Salary Philippines
- 4 Best Ways How To Retire Early Philippines
- Build An Emergency Fund In The Philippines
- Gcash Invest Or Save Money: Which Is Better
- How To Be Frugal In The Philippines
- How To Save 100k Pesos In The Philippines
- How To Save Money As A Student Philippines
- Which Is Better Bdo Or Bpi? Pros & Cons