December 6, 2023, 14:04

NBU Council Member’s advice to citizens on saving money

Military bonds and deposits in Ukrainian banks are some of the attractive ways for citizens to save money nowadays, particularly in hryvnia.

Vasyl Furman, Member of the NBU Council, made this statement during a briefing at Media Center Ukraine – Ukrinform.

“In my personal opinion, financial assets in the Ukrainian hryvnia are very attractive today. These are primarily domestic government loan bonds, these are military bonds and deposits in Ukrainian banks. The rate of return is approximately the same in both cases. A lot depends on the size. If we are talking about a deposit, then (it depends – Ed.) on the term of the deposit, the size of the bank. If we are talking about military bonds, then it also (depends – Ed.) on the term of the military bonds, etc.,” noted Vasyl Furman.

In addition, he added that the overall yield in banks and from military bonds is at the level of 14-17%, and sometimes even 18% per annum. And today this yield is much higher than the inflation rate, so you can earn more.

In addition, Vasyl Furman pointed out that when it comes to investing it is important that citizens take care to diversify their investments. Particularly, in case funds are needed before the due term designated by certain savings tools. The list of appropriate tools for this is wide – these can be military bonds, deposits, physical assets, etc.

At the same time, he warned that profitability and risk are directly related. Therefore, upon seeing promises of guaranteed high returns, one needs to be careful not to fall for fraudulent schemes.

“If someone promises you a guaranteed return, for example, 50% or 70%, then at best it is a very risky investment, and at worst it is simply a fraud. Therefore, we must be as vigilant as possible and trust reliable financial institutions,” Vasyl Furman emphasized.

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