Shanchayapatra or national savings certificate has long served as a reliable saving scheme, providing a dependable path toward financial stability for the people of Bangladesh. Upon reaching maturity, some holders may find it necessary to withdraw their funds, whether for personal expenses, medical needs, or investment opportunities. For others, however, the renewal option of their Sanchayapatra offers a chance to continue growing their savings. Let’s explore what steps to take when it reaches maturity. Sanchayapatra Encashment Process Completing the encashment of Sanchayapatra typically requires around 2 to 3 business days after maturity depending on the issuing bank. For certain banks, processing may even take a few additional days. Each bank maintains its unique form to carry out the process. The first step in withdrawing funds is to fill out a form. After completing it, the form must be manually signed and submitted to the branch of the bank from where the Sanchayapatra was purchased. Read more: Buying US Dollar Investment Bonds: A Comprehensive Guide for NRBs If the investor cannot appear at the bank or sign the form due to physical limitations, a nominee can carry out the procedure on his/her behalf. In such cases, the investor must provide a medical certificate that verifies their physical condition. In addition to the investor, the nominee may withdraw only the profit earned from the Sanchayapatra. However, this requires explicit written authorization from the investor, including their signature and a discharge of the profit coupon. The initial deposit value, however, cannot be accessed solely through an authorization letter or permit. For Sanchayapatra purchased online, this procedure becomes much simpler. This online context refers to the National Savings Scheme Online Management System. In this regard, Bangladesh Bank recently issued directives to all its branches and scheduled banks. The principal of Sanchayapatra bought via the system will be credited directly to the investor’s account upon the exact day of maturity. Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know Additionally, any profits will be transferred in installments on schedule. All transactions will be processed through the Electronic Fund Transfer (EFT) system. It means neither the investor nor their nominee will need to visit the bank to receive the profits or maturity value. Sanchayapatra Renewal Process With the automation of the new system, paperwork-related complications are set to reduce significantly. Here are the updated renewal guidelines for Sanchayapatra as per the directives of Bangladesh Bank: - For Family Sanchayapatra, Three-Month Profit-Based Sanchayapatra, and Pensioner Sanchayapatra, only the original invested amount will be automatically reinvested.- For five-year Sanchayapatra and Post Office Sanchayapatra, both the principal and the profits will be automatically reinvested. Read more: Investment: What Factors to Consider before Investing Money? In these cases, the maximum investment limit will be applied from the date of reinvestment.Profits from Pensioner Sanchayapatra will now be disbursed monthly rather than quarterly. In a Nutshell The recent advancements in Shanchayapatra’s encashment and renewal processes offer a streamlined, hassle-free experience. By utilizing the National Savings Scheme's online management system, investors gain seamless access to renew or encash Sanchayapatra. Thanks to the EFT system, funds are deposited directly into the account on maturity day, eliminating the need for in-person visits or form submissions. With automatic renewal options, holders can effortlessly reinvest, avoiding administrative delays and potential complications. Together, these improvements ensure a smoother, more accessible experience for all Sanchayapatra holders. Read more: Is Sanchayapatra a Good Investment Read more: How to Buy Sanchayapatra in Bangladesh: A Beginner's Guide

At the dawn of another year, setting financial resolutions becomes crucial for a stable future. It can serve as a roadmap towards economic well-being, empowering individuals to manage money more effectively. Proper management of expenses aids in reducing debt, making savings, and creating new investment windows. Prioritising financial goals ensures a more organised and secure financial journey. Overall, it fosters the path towards achieving long-term aspirations. Let’s take a look at some practical resolutions to manage your finances in 2024. Top 10 Financial New Year’s Resolutions and Ways to Fulfil Them Creating a Budget and Sticking to It Creating a proper budget is key to managing money smartly. Try using apps or spreadsheets to split your money between what you need, what you want to save, and what you can spend on non-essential or luxury things.  By keeping a close eye on your spending and sticking to your budget, you can avoid spending money on things you do not need. It helps you keep your expenses within your budget. Read more: 10 Foods to Eat for Good Luck in New Year Practising Mindful Spending Being mindful about spending means making choices that align with your goals and it leads to a more stable financial future. It is very important to take a mindful approach to spending by thinking before you buy. Try to focus on what you truly need rather than what you want right now. You may consider if your purchase brings long-term benefits. This way of spending helps you control your money better and keeps you on track to reach your financial aims.  Paying off Debts and Loans One should make it a priority to clear off debts with high interest rates as they can weigh one down financially. For instance, credit card debt needs to be paid in due time to avoid fines. To repay big debts arranging money from savings or low-interest loans can be considered depending on the situation.  In the new year, one can prepare a repayment plan to settle all debts and get financial freedom. Read more: 5 New Year Resolutions that are actually achievable Building an Emergency Fund Life can surprise us, so it is wise to have a safety net for unexpected costs. Try to stash away money for an emergency fund that can cover living expenses for three to six months if needed. You may look into FD or DPS packages offered by different banks or financial institutions. This practice can help you save more money while making sure you can access them easily.  Whenever you hit a milestone on your savings journey, take a moment to celebrate your progress towards your financial safety net.

Recently a survey shows that a huge number of women have little or no money in their bank accounts. About 40% of women have $100 or less in their savings compared with 26% of men. As a woman do you ever think why it is tough for women to save more than men? Have you ever tried to overcome this challenge? If not, no worries. We are here to let you know the reasons and ways to change it. Why Can’t Females Make Good Savings Like Males? There might be many reasons why women became able to save less money than men. The survey shows about 40% of women are indifferent to reporting having less in their checking accounts. They allow easily having their minimum checking account balance reach $100 or less while not more than 28% of men do not permit to have such a low minimum balance. Secondly, usually, women earn less than men. So, naturally, they cannot save as much money as men can do. Moreover, in many societies the women need to leave work or jobs due to rear children or to take care of older family-members. Generally, men do not take these responsibilities.  So, it is clear that in general women are incapable of making good savings because they don’t get the scope to make a huge income from jobs, business or other sectors. Read 10 Greatest Female Entrepreneurs of the 21st Century On top of that, societies or families do not put as much emphasis on the income of women as they do in the case of men. Therefore, many young women may not feel the urge to save money.

The aim of any investment has always been to grow the initial capital. People invest hoping to double or triple their initial sum and get a substantial ROI. But investment strategies are not that simple. With the risks associated with investments, there are more ways to lose money than gain. This is where Sanchayapatra, the national saving scheme of Bangladesh is different. The scheme offers a secure haven for investment at flexible conditions and good returns on investment. What is Sanchayapatra? In short, Sanchayapatra is a national savings certificate. It is a saving scheme implemented by the government of Bangladesh through its different financial subsidiaries. In hindsight, the initial intention for introducing the savings certificate was different. Sanchayapatra was first introduced in 1972 against the backdrop of a war-torn economy. The government encouraged people to save money to finance deficient economic spending. The extra expenditure of the government was financed from the savings received against the issued certificate. Read Is Gold a Good Investment in 2022? Historically, Sanchayapatra provided a good ROI through its interest schemes. This has grossly motivated people to save more and more. And soon enough Sanchayapatra became one of the top investment schemes in Bangladesh. The government of Bangladesh introduced more and more saving schemes over the years. Currently, there are 11 different types of national saving schemes of which 4 are of different Sanchayapatra schemes. Read E-commerce Scams: Ways to Protect Your Investment from Online Frauds Types of Sanchayapatra There are a total of 5 different types of Sanchayapatra. The difference is based on benefits and heads who can apply. Each scheme is unique to its own and caters to its targeted audience. The 5 Year Bangladesh Sanchayapatra This Sanchayapatra scheme provides profit every 3 months. It has an investment cap of 30 lac for single applicants or 60 lac for joint applicants. It provides one of the highest interest rates at 10.75% in the 4th year with 11.28% on maturity. Small enterprise and provident funds do not have any investment cap within this scheme. 3 monthly Profit Basis Sanchayapatra The 3 monthly profit basis scheme has a 3 year maturity period. Just like the Bangladesh Sanchayapatra scheme, the individual investment cap is 30 lac whereas a joint investment has a cap of 60 lac. The scheme doesn’t allow organizations or provident funds to invest. The interest rate is 10.50% in the 2nd year with 11.04% payable on maturity. Read Investment: What Factors to Consider before Investing Money? Pensioner Sanchayapatra The pensioner Sanchayapatra is a 5-year investment with a 50 lac investment cap. A person has to be a retired government, semi-government, autonomous, or semi-autonomous official to be eligible for this scheme. The interest in the 4th year is 11.00% with an 11.52% interest payable at maturity. Poribar Sanchayapatra The Poribar Sanchayapatra is exclusively designed for adult Bangladeshi females. The investment cap for this scheme is 45 lac BDT. There is no option for joint investment in this scheme. The interest payable in the 4th year is 11.20% with 11.76% on maturity. Each of these schemes has a profit accrual period of 1-year. Meaning if the savings are withdrawn before the completion of the first year, the investor will not receive any form of profit. In addition to that, a standard 5% tax will be accrued on the profit. Read Investment Opportunities in Bangladesh amid Pandemic Pros of Investing in Sanchayapatra So, why should someone invest in Sanchayapatra? There are several reasons to justify the investment. Secured Saving Sanchayapatra is a national saving certificate meaning it is directly run by the government through its subsidiary, the Bangladesh post office. Being a national scheme, there aren’t any underlying security issues with this investment. an investor can stay worry-free that their investment is safe and secured. High-Interest Payable Sanchayapatra offers some of the highest interest payable on a fixed investment across any savings denomination in Bangladesh. The high-interest payable combined with the security offered by the government can be a huge motivator to invest in Sanchayapatra. Read Angel Investment 101: Is It the Right Track for Your Startup? Tax Rebates This is another benefit of investing in Sanchayapatra. At 25%, Bangladesh has a fairly high-income tax. However, the NBR allows for tax rebates on income invested on Sanchayapatra. Meaning a person is not only benefitting from the saving but are also getting a tax cut for doing so. Cons of Investing in Sanchayapatra While there aren’t any personal cons of investing in Sanchayapatra other than the investment getting locked in for a certain period, there is some negative implication for the overall economy of the country. Investment Diversion The high interest payable on Sanchayapatra has been heavily criticized considering it is over the inflation rate. The rate is not matched by private organizations or high-risk investment instruments like stocks. As a result, people are becoming more and more inclined to invest in Sanchayapatra compared to other heads of investment which is creating an imbalance in the economy. Read Investment Guide: How Bangladeshi Youths Can Invest money and Create Wealth? Added Liability for the Government The national savings certificate is essentially a scheme outlining a system where the government borrows from individual investors. With more and more Sanchayapatra being sold, the government liability is also increasing at an equal rate. And with the high return on the NSC, it might soon go out of hand and create a liquidity trap for the government. Organizations like CPD and IMF have suggested the government reduce the rate of return and sale of NSC and eventually phase them out in the near future. Should You Invest in Sanchayapatra in 2022? Sanchayapatra is the perfect savings choice for risk-averse investors. In recent years, the rate of return has been considerably reduced. Yet Sanchayapatra remains one of the highest returning individual options in Bangladesh. Along with the high return, capital security is also something that makes investing in Sanchayapatra a good decision. Even at a reduced rate, the economy will still take considerable time to properly pick up its pace from the economic downturn of the pandemic. Against its backdrop, Sanchayapatra can be a safe bet against volatile times. Read SM²: Bangladesh-Focused Seed Accelerator by SBK Tech Ventures, SOSV, Miaki Final Thoughts Though Sanchayapatra has a negative implication for the government liability and investment distribution within the economy, it is still a preferred investment mode for many. Considering the benefits, returns, and safety, investing in Sanchayapatra in 2022 is definitely on the cards for the veteran as well as first-time investors.

Investment is one of the best ways to increase your wealth. It’s a proven means to generate more money as well as a source of passive income for the investor. Compared to savings, the investment provides a higher return. However, a higher return comes with its own set of risks. If you aren’t careful enough, you might end up losing more money than making through investment. So how do you make sure your investment is safe? What are the things to be considered before investing? Let's find out. Why are you investing? Before anything else, you should find out the reason for investment. Savings are something that can work as your financial cushion. Investments are a bit different considering your money gets locked up for a considerable period. As a result, you should carefully evaluate whether you’ll have any immediate need for the money. You should also assess whether you want to make a short-term investment or a long-term one. Based on your investment period and the risk factors, your return will vary. Therefore you should be clear on your goals and strategies to make sure of the correct investment decision. Read: Investment Opportunities in Bangladesh amid Pandemic What should an investor consider when making an investment? Life stage Where are you in your life right now? This is an important factor many people ignore when investing. If you are a young professional with a steady income source, it becomes easier to take risks. However, if you are someone at a late stage of your life, or you are planning on child education support or retirement, it becomes increasingly difficult to make risk-related decisions. All of it depends on your commitments. Usually, it's ideal to invest at a young age where you will have sufficient time to turn things around in case anything goes south. The same doesn’t hold for someone who is investing their life’s saving at an old age. Read Investment Guide: How Bangladeshi Youths Can Invest money and Create Wealth? Time frame We have already talked about the ideal stage of your life for investment. But what is the ideal period for investment? Truth is, there is no fixed answer for this. You can invest for a long time or for a short time. The choice is yours. However, each short-term and long-term investment has its own perks. Long-term investments tend to generate a higher return. Short-term investments will give you profit much faster. If you are looking for long-term investment opportunities, you should consider stock and mutual funds. These are the best long-term investments out there. But if it’s short-term that you’re looking for, a fixed deposit can be a good option. Read Saving vs. Investing Money: Know the Pros and Cons Income or increment of capital Some people use investment as a steady source of income. Some invest to increase their existing capital. While both of these are meant to generate money for you, there are some subtle differences between them. Investments are through and through associated with risks. So if you are looking for a steady income source, the common investment strategies might not be a good option. You can invest in MIP, MIS, or fixed deposit as it will guarantee a return after a fixed interval. And if growing the existing wealth is your priority, you can consider investing in equity or real estate. Read:Real Estate Business in Bangladesh is booming again overcoming the brunt of Pandemic Return on your risk Depending on your investment strategy, risks will vary. There are countless streams of investment that will provide you with more return than the usual interest on your savings. However, the more the return there are, the merrier the risk will be. If you are someone willing to play in a high-risk scenario, you can consider investing in equity-related investment strategies. If you want a quick return on your investment, there are high-risk bonds. As long as you are willing to play on the market fluctuations, you can be sure to make a good return on your investment. Read: F-commerce in Bangladesh: Problems and Prospects State of taxation Many people don’t consider the tax burden that comes along with investment. As you start receiving a return on your investment, the tax will start to add up on your investment. However, there are different tax waivers and rebates associated with investments. The only downside of the waiver is that there is a minimum lock-in period of investment. Depending on the investment strategy, the lock-in period can be as high as 10 years. So you should be careful before choosing an investment strategy as it can effectively lock you out of your capital for a long time. Read Angel Investment 101: Is It the Right Track for Your Startup? Liquidity of the investment In layman’s terms, ‘liquidity’ is the state of how soon an asset can be sold off in the market in exchange for a good return. Risks on investment are directly associated with the liquidity level of any asset. The more the liquidity, the lesser the risk, and the lesser is the return. If you are someone looking for an easy investment scheme without having to worry much about capital loss, then you should invest in high liquidity assets. But if you are a risk-taker looking to make a good profit out of your investment, then you should go for low liquidity assets. Read Investing in startups second innings of Sachin Tendulkar's life Emergence Capital The last factor here isn’t directly related to investment; rather it’s a precautionary measure for you. Investments are high-risk games no matter how you look at them. There’s no guarantee that you will end up losing all your investments in a matter of hours or days. There might be situations where you will have an emergency need for funds but you won't be able to access them because of lock-in periods or losses. The ideal approach would be to set up an emergency capital fund before you embark on investments. This will not only cushion you against any investment-related drawbacks but will also be a source of capital for future use. No matter how you use it, an emergency fund can always be your plan B. Read:ToguMogu: One Stop Solution for Bangladeshi Parents Bottom Line Investments aren’t for everyone. But if you are willing to take the risk, you can be sure to make a good return out of it. But for that, you will need careful planning and consider your options. In this article, we have discussed the key factors to consider before making investment decisions. We hope our discussion will help you to lay the groundwork for your investment options and make a good fortune in the process.

The second wave of the corona has already hit Bangladesh. This made a huge impact on the economy, but the situation is comparatively better than last year. The government has already withdrawn the lockdowns, and the economy is running again despite the high infection rate. So, if you have savings, you may think about further investments to multiply the net worth. Nevertheless, no investment is risk-free, and it is not possible to avoid 100% risk by investing with a deep analysis, but there are possibilities to reduce the capital. We have found some safe investment plans in this Covid-19 pandemic. Should you Save or Invest During the Pandemic? We all are in a critical situation. If this is considered, it is better to save money for now - which can help to serve our basic needs and help in difficult times. But it all depends on you. If you have enough savings, you may go for a small investment. Any investment decision where you are expecting future wealth, you should be careful before taking any decision. Since the economy is not stable yet, it would not be appropriate to make a large investment decision. If you are able to take more risk, then you can think of large investments by following the right strategy. Read Investment Guide: How Bangladeshi Youths Can Invest money and Create Wealth? However, most of us like to avoid the stock market in order to reduce the risk of financial matters and invest our money in various savings schemes. Different investment opportunities provide more capital protection than the stock market but are not able to give higher returns. So, at the moment, you should set aside some of your savings in case of an emergency. Where to Invest? Decide Yourself When we talk about investments, we keep aside the industrialists and big businessmen. They have their own money; they can easily take loans from banks and financial institutions. They can do business with it; they can also build a factory. But ordinary people with low incomes have a minimum idea of where to go and what to invest in. Hence, many do not understand and live in confusion. Following are the low-risk investment plans, and some have no risk at all. Sanchayapatra There are not many investment opportunities in Bangladesh! Those who do not want to take the risk or have no chance to take a risk, can buy sanchayapatra. Needless to say, Sanchayapatra is better than any conventional investment option in the market. Read Saving vs. Investing Money: Know the Pros and Cons At one time, the National Savings Department used to advertise in daily newspapers for the sale of sanchayapatra. The department has not been giving such advertisements for several years. Because people already know the benefits of it. There are currently four types of sanchayapatra in Bangladesh, 3 Monthly Interest bearing Sanchayapatra, 5 Years Sanchayapatra, Pensioner Sanchayapatra and Poribar Sanchayapatra. The highest profits are made from Pensioner Sanchayapatra. The interest rate at the end of the term is 11.76 percent. However, not everyone can buy these savings certificates even if they get more profit. Only retired government employees can buy it. At the end of the five-year term, the Poribar Sanchayapatra yields a profit of 11.52 percent. At the end of 5 Year Sanchayapatra, the interest rate is 11.28 percent. 3 Monthly Interest bearing Sanchayapatra are valid for three years. The interest rate on these savings certificates at the end of the term is 11.04 percent. Read Angel Investment 101: Is It the Right Track for Your Startup? Bank Banks can be one of the best alternatives for investing in Sanchayapatra. Long-term investments, as well as Fixed Deposits (FDR), can also be made. Money can be kept every month too. All public and private banks can be the place of investment. By understanding, researching, and deeply judging, one can keep the money even in financial institutions (leasing). They pay more interest. In that case, of course, the idea of investing in low-risk or risky companies should be avoided. There have been days when your money in the bank would have doubled in five to six years. However, no bank offers such opportunities anymore. The interest rate had also changed since April last year. The loan interest was fixed at 9 percent and deposit interest was fixed at 6 percent. However, some banks still double the money in 7 to 10 years, while some banks take 12 years. If you keep FDR in the bank, the interest rate that the bank talks about on the first day of the contract usually does not change. Almost all banks have the opportunity to keep FDR. Read Investing in startups second innings of Sachin Tendulkar's life Post Office Savings Once upon a time, there were three types of accounts - Post Office Savings Bank (General Account), Post Office Savings Bank (Term Account) and Post Office Savings Bank (Bonus Account) - where people could keep the money. The bonus account has been closed since 1992. The other two are still running. One year ago, the interest rate on general accounts of the Post Office Savings Program was 7.5 percent, and the interest rate on 3-year accounts was 11.28 percent. Ordinary savers across the country were outraged when the general account interest rate was reduced to 5 percent in February last year and the term account interest rate to 6 percent. Later, the government maintained the interest rate as before. The special feature of the two accounts is that Bangladeshi citizens of all classes and professions can put money into it. Nominees can be appointed, can be changed, and can be canceled for both post office savings accounts. Read Seed Fund Raising for Startups: Things to Know About Stock Market The stock gives more profit than any investment. However, this investment must be long-term and must be understood. Moreover, good companies usually pay a 10 percent dividend at the end of the year. The factors to consider when investing in the stock market are the fundamentals of the company, earnings per share (EPS), price-to-earnings (PE) ratio, net asset value (NAV), an average of dividends, company debt and the country's economy, sometimes political situation. The lower the price-to-earnings ratio of the company, the better it is for investment. Usually, a 10 to 15 PE ratio is better. More than that is a little risky. However, investments can be made if the company has the potential to increase revenue. Because if the income increases, the PE ratio will decrease. Investing on Lands Excluding all, if anyone thinks that land is the money. In that case, the investor can buy the land. Land prices usually go up year by year. Sometimes, depending on the land's condition, the value doesn't increase. So, you have to understand the value of the land before making a buying decision. Many people buy low land and fill it with soil but sell it at a higher price. But be careful before buying land. Check the documents, check and select again and again. Read 7 Local Startups Get Tk 150m Funds from Startup Bangladesh Limited Disclaimer The interest rates of Sanchayapatra and Post office savings are subjected to change depending on the decisions of the respective authorities. The stock prices of different companies may increase or decrease from time to time.