My first savings account ever was from BDO. It was my Mama who made it possible for me to have one even though I only have Postal ID as an official identification. The account only lasted for a year and I got it closed because I was below the minimum balance. I don’t know how to save back then.I was sad that because of my bad attitude on money, I wasn’t able to properly take care of my first savings account but things surely happen for a reason.
The reason why I brought up that story is because today’s post will be about BDO’ Easy Investment Plan. If you’re new to the investing world I suggest reading first my post entitled How to Worry-Free Invest in the Philippines just to give you a little preparation checklist.
BDO Easy Investment Plan is a type of managed funds in the kind of UITF. To know more about UITF, kindly clickHERE. Since its handled by a bank, and knowing that BDO has been in the business for years, trust is unquestionable.
Though I did not open my first investment in a UITF (as I invested in FAMI first) I will for sure make this part of my diversification list.
More Facts About BDO EIP
UITFs you can invest are as follows:
BDO Peso Fixed Income Fund (PFIF)
BDO Peso Balanced Fund (PBAL)
BDO Equity Fund (EQUITY)
(The idea is same as FAMI wherein you can choose to either invest in FAMI-Save and Learn Equity Fund, FAMI-Save and Learn Balanced Fund as well as FAMI- Save and Learn Fixed Income Fund)
Minimum Investment is 10,000pesos
Investment starts at 1,000pesos per month
Contributions can be once a month or twice with frequency in accordance to 5th, 10th, 15th, 20th, 25th, 30th of the month
For convenience, you can settle the account automatically in your BDO Savings / Checking / Payroll account maintained with any BDO branch
A Confirmation of Participation (COP) will be given once your investment reaches at least Php 10,000.00 on a contribution date
There’s a non-completion fee of 0.50% of the original contribution amount
Cut-off for the enrollment is at four (4) banking days before the desired first contribution date
Document Needed for Opening
One (1)EIP Application Form which includes the EIP Terms and Condition and Automatic Debit Arrangement Form
If you are having thoughts on opening a UITF account, this BDO EIP could be of a good choice though the amount that it takes to open an account is higher compared to others (like FAMI Mutual Fund), still this is worth the try. Investment is always a risk, but its better to take the risk than neglect the chance. Goodluck!
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