Sanchayapatra is a popular investment option in Bangladesh that has gained significant attention from investors in recent years. It is a savings instrument offered by the Bangladesh government, designed to help individuals save money for the future and grow it at the same time. The program offers an attractive interest rate, making it a great investment opportunity for those looking to secure their financial future. The Sanchayapatra program is considered to be a safe investment option as it is backed by the Bangladesh government. It offers a guaranteed return on investment and is ideal for individuals who are looking for a low-risk investment option. The program is open to everyone, including students, housewives, and the elderly, making it an inclusive investment option. In this article, we will discuss different types of Sanchayapatra and the process of buying Sanchayapatra in Bangladesh in 2023. Types of Sanchayapatra in Bangladesh Currently, the Directorate of National Savings of the government offers 11 unique investment programs. Among these programs, there are four distinct types of Sanchayapatras: 3 Monthly Interest Bearing Sanchayapatra, 5 Years Sanchayapatra, Pensioner Sanchayapatra, and Poribar Sanchayapatra. 3-Monthly Profit Bearing Sanchayapatra This investment program, also called the "Tin Mash Ontor Munafa Vittik Sanchaypatra," requires a minimal investment amounting to Tk 1,00,000 and has a three-year maturity period. This program was first introduced in 2004. Read More: What to Consider Before Buying Land: A Step-by-Step Guide Price Tk. 1,00,000, Tk. 2,00,000, Tk. 5,00,000, and Tk. 10,00,000. Duration Three years maturity period. Where to Buy Purchase and encashment can be done from National Savings Directorate, Bangladesh Bank branches, commercial banks and post offices. Profits Name of savings scheme Duration The Current rate of profit   Amount of investment         Up to Tk. 15,00,000 Tk. 15,00,001 to Tk. 30,00,000 Tk. 30,00,001 and more 3-Monthly Interest Bearing Sanchayapatra       Rescheduled Profit Rate (%)     After one year 10.00% 10.00 9.06 8.15   After two years 10.50% 10.50 9.51 8.56   After three years 11.04% 11.04 10.00 9.00 (Source: National Savings Directorate, retrieved on April 04, 2023) Read More: Shares vs Bonds: What is the Ideal Investment Opportunity Tax For up to Tk 5,00,000 (five lacs) investment, 5% tax is deducted at source on the profit, and for investment above five lac 10% tax is deducted at source on the profit. Who Can Buy 3-monthly Profit Bearing Sanchayapatra? All Bangladeshi citizens regardless of profession, or educational levelAny certified autistic cooperative institution (the profits of which must be used to benefit those with autism) approved by the District Social Services Office. Highest Ceiling (max limit) for Buying 3-Monthly Interest Bearing Sanchayapatra The ceiling for investment is capped at Tk 30,00,000 for individual investors and Tk 60,00,000 for joint investors. Other Benefits - Profit is payable quarterly.- Nominees can be appointed.- After the death of the purchaser, the nominee can immediately encash the savings certificate and withdraw the money or keep it and withdraw the profit, as usual, every three (3) months until maturity. Read More: Apartment Buying Mistakes to Avoid to Secure Your Investment

Basic money habits are important for everyone and when it comes to saving it is fundamental. You should teach your kids good saving and spending habits as early as possible at the age of 7. Remind your children of the famous quote of Warren Buffet “Do not save what is left after spending; instead, spend what is left after saving.” Explore here 10 effective ways to implant the habit of saving in your child. Why is it necessary to teach children to save money If you can develop good habits in your children it will be beneficial for them and helps them become responsible adults. Besides, the habit of good saving helps the child understand the value of money rather than being overly prudent or economical. It is necessary to teach them about delayed gratification when it comes to money. This can help them guard against unnecessary spending and learn to value establishing control of their money.  Read Newborn Baby, Infant Care Tips during Summer Ways to develop habit of saving in your child Check below the 10 steps to get your kids on the saving pattern. Responsible Spending Firstly, you need to teach your children the value of saving. Make sure you help them to differentiate between wants and needs. Needs comprise the basics- food, shelter, basic clothing, healthcare, and education. On the contrary, wants are all the extra things such cinema tickets, candy, bicycle or the latest smartphone. So, do not buy your child everything that they ask for at any time.  When they ask for an expensive toy or game, make them understand that it is not fundamental for them. Explain to them to save this money to buy anything fundamental. Then they will be able to truly value the effort which goes into saving and earning. You can also hang a picture of the toy or game that they want to buy next to their money box or saving jar so that they stay focused on their goal. Read: Effects of Domestic Violence on Children Provide a Place to Save You can buy a money box or a savings jar for children so that they can save their spare change and of course, it will be an excellent idea. If children get this chance they will be less wasteful and realize that any amount of money saved is always good for the future. Besides, it would be better if you make them understand the concept of disciplined savings by not letting them open the box till it is completely full and there is no room left. Moreover, when your children become older, you can set up their own savings account at a bank or even get a kid-friendly debit card. If they have their own savings account, they will be more encouraged to save money.  Read Creative Toys for Children to Foster Creativity Staying Away from Electronics Set Savings Goals If you tell your kids to save, it may seem pointless to them. So, it must be a better way if you help children define a savings goal. Saving goals will inspire them and they will be motivated.  When they know what it is they want to save for, allow them to break down their goals into achievable bites. For instance, if they want to buy an item of about TK.100 and they get a TK.10 allowance each day, help them figure out how long it will take to reach that goal, based on their savings rate.  Give incentives to encourage Savings  The interesting thing you can do to encourage your children to save is you can set incentives for your child. To do so you can fix a small amount of money which you add to their savings every time they save a specific amount. Read Best Educational YouTube Channels for Children For example, for every TK.500, your child adds another TK.200 to their savings. This will undoubtedly make them want to save more as they would want to reap more rewards. Explain to them how to invest Let your children understand what investing money means. To do that look for child-friendly investment schemes which are comparatively safer than other plans and encourage disciplined savings. Now, these schemes are available. You can choose anyone suitable for you and your child.   Allow them to earn their own money A survey by the American Institute of Certified Public Accountants (AICPA) shows that ⅔ of parents said that they paid their children an allowance with kids earning $5 per day, based on two hours of chores.  Read Young Kids Wearing Makeup: Health Risks and Ways of Prevention In this way, you can make your children savers by allowing them to earn and save money. Thus,  you can provide them with the opportunity to learn how to use it. With your allowances in exchange for chores, they are also learning the value of their hard work. Track Spending A better save is always to try to know where his money is going. You can track expenditures easily with a bank or debit card app. Besides, you can do it the old-fashioned way- maintaining a notebook.  Help your children write down their purchases each day and tell them to sum up at the end of the week. From this, they will get an eye-opening experience. Inspire them to think about their spending. Teach them how much faster they could reach their savings goal if they could change their spending patterns. Read Helping Kids with Sharing: How to teach a child to share Leave Room for Mistakes Let your kids control their own money. Allow them to learn from their errors. It will help them to step in and guide them away from a potentially costly mistake.  But make sure that mistake is a teachable moment. Teach them in such a way so that they will know what not to do with their cash in the future. Be a role model Your children always follow you so you should lead by example. To do so, you can set up a saving jar in the house in which you save money. They will learn the importance of savings and do it themselves. Read Nail-biting in Children, Teenagers: Causes, Dangers, Ways of Prevention Money Talks Make sure you talk about money with children if you want kids to learn about saving. Make a  schedule and talk with the child about money.

Saving and investing money both make up a huge part of financial planning. Both strategies offer resolute financial security for the future. Yet there are some major differences between the two. While savings offers a safe enclosure for immediate monetary needs, investment is a process of increasing the existing wealth. Therefore what are the pros and cons of savings and investment? And which one should you choose? Let's find out. What is Saving? Savings is typically the act of storing away the money. It offers a safety net for sudden or immediate needs. Banks offer long term fixed deposits and short-term savings account as per the need of the client. Depending on your need, you can start saving on a long-term and/or short-term basis. READ: Best Sites to Sell Used Electronics in Bangladesh From another perspective, savings are associated with low risk and low return. The cash is readily available at hand but the growth opportunity is very low. Pros of Savings Access and Availability Nowadays, it is quite easy to open a savings account. You have 24/7 access to your deposited money through ATM or debit card. In addition to that, you can also transfer funds from one account to another instantly. Security In Bangladesh, the savings accounts can be opened in Bangladesh Bank authorized banks only. As per the regulation of the constitution, Bangladesh Bank acts as the superintendent of all the existing government and private banks of the country. Due to high regulatory monitoring, your money is safe and secured beyond any reasonable doubt. Read What makes a Great Manager: Know the Qualities and Skills Accrue Interest A savings account accrues interest over your deposited money. The interest rate differs from bank to bank and it also depends on the amount of money deposited. There is also the factor of the type of deposition. For example, a fixed deposit will accrue more interest compared to a current savings account. However, the rate, in general, is quite low so you shouldn’t be expecting much to be added to your savings. No lock-in period Unless you are opting for the fixed deposit scheme, there is no lock-in period with your account. That is you can switch your account status as well as the minimum amount any time you want. This allows an added flexibility which can be useful in the long run. Read Earn Money Online: Best ways for Students to generate income during pandemic Cons of Savings Inflation The economy is susceptible to inflation. The worth of money 10 years ago grossly differs from the worth it has today. So if your bank is not providing you with a competitive interest rate, the savings might be subjected to inflation. That is to say, the worth of your deposit right now might be less in a year. Minimum balance requirement Most banks have a provision for minimum balance requirements. You need to maintain a threshold amount all year round. This can be problematic if you are saving a little. However, the threshold amount is very low in the case of current savings. But it can go up if you opt for a fixed deposit scheme. READ: Renowned online payment gateways in Bangladesh for domestic, international transactions