{"id":166166,"date":"2020-09-18T04:37:44","date_gmt":"2020-09-18T02:37:44","guid":{"rendered":"https:\/\/mypr.co.za\/?p=94056"},"modified":"2020-09-18T04:37:44","modified_gmt":"2020-09-18T02:37:44","slug":"trustco-life-develops-tailor-made-savings-products","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/trustco-life-develops-tailor-made-savings-products\/","title":{"rendered":"Trustco Life Develops Tailor-Made Savings Products"},"content":{"rendered":"<figure id=\"attachment_94057\" aria-describedby=\"caption-attachment-94057\" class=\"wp-caption alignleft\"><a href=\"http:\/\/mypr.co.za\/?attachment_id=94057\"><img decoding=\"async\" loading=\"lazy\" alt width=\"300\" height=\"200\" class=\"wp-image-94057 size-thumbnail lazyload\" src=\"http:\/\/mypr.co.za\/wp-content\/uploads\/2020\/09\/Katrina-Basson-Annette-Brand-300x200.jpg\"><noscript><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-94057 size-thumbnail\" src=\"http:\/\/mypr.co.za\/wp-content\/uploads\/2020\/09\/Katrina-Basson-Annette-Brand-300x200.jpg\" alt width=\"300\" height=\"200\"><\/noscript><\/a><figcaption id=\"caption-attachment-94057\" class=\"wp-caption-text\">Image from left to right \u2013 Head of Operations: Financial Services Segment, Katrina Basson and Head: Trustco Life, Annette Brand<\/figcaption><\/figure>\n<p>Windhoek, Namibia \u2013 Trustco Life has recently introduced savings products that aims to promote financial security and literacy through the medium of savings and investment. The said products, Start Save, Life Save and Elite Save, were designed to suit the Namibian market at large, offering an array of interest rates and benefits.<\/p>\n<p>The importance of saving, investing and earning interest has become of paramount importance in developing countries such as Namibia, whose residents are still unaware of the positive effect it has on providing financial security to their households.<\/p>\n<p>During the COVID-19 pandemic, people from all walks of life have found it tougher to save even a little from what they earn. This global crisis has exposed the need for savings policies, especially in times of emergency. The main advantage of savings policies is that they are safe from market volatility.<\/p>\n<p>In the 2017 Namibia Financial Inclusion Survey (NFIS) it was revealed that there are still approximately 17.5 percent of Namibian adults who keep all their savings at home, and do not have or use formal or informal savings products or mechanisms. Indeed, 19.5 percent of adults reported that they do not save at all.<\/p>\n<p>A savings policy has three key advantages of significance:<br \/>1. Safe avenue for funds \u2013 Savings is liquid, it provides for easy access to funds when needed.<br \/>2. Income generating account \u2013 Unlike a current account, a savings policy earns interest.<br \/>3. Helps plan your child\u2019s financial future \u2013 It is imperative to teach our children the importance of savings and investments from a very young age. These valuable financial lessons can help children understand the value of money and help them make better financial decisions.<\/p>\n<p>Trustco Life\u2019s three custom-designed savings products are as follows:<\/p>\n<p>Start Save<br \/>Start Save is the entry-level savings product for Trustco Life. Clients can start their savings career while staying connected. Every dollar saved not only earns interest, but also provides data. The product is designed to cater towards clients aiming to save between N$ 250 and N$ 1000. Additionally, clients earn interest of 3.5% compounded annually and free data as per table below.<\/p>\n<p>N$ 250 to N$ 499 = 2GB<br \/>N$ 500 to N$ 749 = 4GB<br \/>N$ 750 to N$ 999 = 6GB<br \/>N$ 1000 = 8GB<\/p>\n<p>Every client will be provided with a TN mobile SIM card and their earned data will be transferred to that specific number every month upon receipt of premium.<\/p>\n<p>Life Save and Elite Save<\/p>\n<p>Life Save and Elite Save is designed to assist individuals who wish to build their wealth over a longer period of time. Both Life Save and Elite Save offer an 8.5 percent interest rate compounded annually, with Elite Save allowing the client to choose their term as well as how they want to receive their interest.<\/p>\n<p>Start Save, Life Save and Elite Save, all underwritten by Trustco Life, will be the stepping stone Namibians need to allow them to accumulate wealth towards achieving financial independence.<\/p>\n<p>Head of Trustco Life, Annette Brand said: \u201cWe\u2019ve spent months developing these tailor-made products that suits the needs of a variety of Namibian clients. The triple success in the detail of these products will ensure that all our clients can all score a hattrick in savings with the generous interest rates that they\u2019ll earn.\u201d For more information regarding the savings products contact any of the Trustco Life offices country-wide or visit the Trustco Life website at www.life.na or email info@life.na<\/p>\n<p><a href=\"http:\/\/mypr.co.za\/contact\/featured\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\" aria-current=\"page\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/trustco-life-develops-tailor-made-savings-products\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image from left to right \u2013 Head of Operations: Financial Services Segment, Katrina Basson and Head: Trustco Life, Annette Brand Windhoek, Namibia \u2013 Trustco Life has recently introduced savings products that aims to promote financial security and literacy through the medium of savings and investment. The said products, Start Save, Life Save and Elite Save, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":166167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4584,9021],"tags":[3257],"class_list":{"0":"post-166166","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-africa-news-2","8":"category-mypr","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2020\/09\/trustco-life-develops-tailor-made-savings-products.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/166166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=166166"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/166166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/166167"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=166166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=166166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=166166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}