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Saving like a pro: Building Your Wealth through Savings Accounts.

Building your wealth draws you closer to financial stability. It is, therefore, essential to develop effective saving habits and stick to them in the long run. It is time to adopt the mindset and strategies of a pro by understanding and utilizing a bank or Sacco account. While there is a wide range of saving methods, using a bank account provides security and sufficiency as it helps you achieve your financial goals. 

 

  1. Safety and Security

Unlike keeping money at home, a bank or Sacco account like our Amican Personal Account offers protection, especially against theft, loss, or damages. Banks and Saccos are regulated and insured, safeguarding your savings against unforeseen circumstances like a fire accident. Banks and Saccos are also heavily guarded to protect the banking halls against theft and robbery. 

  1. Interest on savings

Another key advantage of a bank account is earning interest on your savings. Banks and Saccos have various savings and investment accounts that provide interest on the money deposited. Amica Sacco has various savings accounts, like the Investa Deposit Account, Fixed Deposit Account, Treasure Account, and Futures Savings Account, that earn you guaranteed interest on your deposits. Over time, the interest earned in our savings accounts will help you reach your financial goals faster. 

  1. Automated savings

Many financial institutions offer the option to set up automated transfers to your savings account. This could be through check-off or standing order instructions, where a customer freely instructs the financial institution to transfer a certain amount from their current account to a savings or Investment account at regular intervals. This savings enables customers to grow their savings consistently.

  1. Building credit

You can build your credit score through regular savings. Consistently saving and managing personal finances through a bank account demonstrates responsibility in financial behaviorism. It can positively impact your credit score and improve your chances of obtaining a loan with your bank or Sacco. At Amica Savings & Credit, we offer loans of up to 10 times your Investment deposits; therefore, the more you save, the higher the loan amount you qualify for and the lower the interest rate.

  1. Convenience and accessibility

Banks and Saccos have mobile and internet banking that allows customers to access their accounts and do various fund transfers from the comfort of their mobile phones. With digital banking, you can easily monitor your account, track your transactions, and transfer funds between accounts. It is important to note that tasking yourself to deposit cash directly will require a lot of self-discipline and consistency. 

  1. Access to financial advice

We have financial advisors and wealth management teams to help you make sound financial decisions. Our financial advisors will help you craft savings and investment strategies, guidance, and personalized advice to fit your specific goals and needs. With a sound financial plan, you will easily save for retirement, plan for big purchases, or even put some money aside for emergencies. 

By embracing the power of a bank account, you will take your saving game to the next level. Your deposits will grow tremendously through bank and Sacco accounts, build your credit score, and eventually draw you closer to achieving your financial goals and dreams. So, start saving like a pro; explore the various savings and Investment accounts at Amica Sacco at https://www.amicacs.co.ke and watch your savings grow steadily over time. Your financial future will thank you for your sacrifices today.  

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Telephone: +254 729 333 444/ 0111 026 100

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Email: hello@amicacs.co.ke

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