Looking for Savings Options that actually GROW your savings?
If you run a business and have money on deposit you need to read this…
With banks offering zero deposit rates and, in some cases, charging business owners for holding large sums on deposit, it’s time to be clever about where you place your finances.
In our opinion, the Zurich Corporate savings account is an option for business owners for some of their company money on deposit. It is a perfect fit for investing some of your company money in a low and negative interest rate environment.
You have 3 ways of saving with the Zurich saving account.
Option 1: Invest a certain amount each month
This is proving to be extremely popular with business owners as they are not committing to investing a lump sum at the outset and this may suit your business cashflow. Also, by investing an amount each month we believe that you can take more risk in relation to the type of investment fund that you choose.
Option 2: Lump sum investment only
Here you have the option of investing a lump sum and they will allow that the full amount, up to a certain level, will be fully accessible without penalty if required.
The level of risk and the type of fund that we recommend will depend on your attitude to risk, which we will define and guide you with, but we generally recommend a lower risk rate fund for a lump sum investment, especially as it’s your business money.
Option 3: You can invest both a monthly amount and a lump sum
This is another option depending on the cashflow requirements of your business. The lump sum amount is fully accessible if needed. We generally recommend a lower risk strategy for the lump sum investment and higher risk for the monthly amount.
So what are the potential Investment returns?
Obviously, the longer term of investment the better the investment return
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These returns are based on investment performance of these fund up to the 24th of May 2021
Tax treatment of gains
There is a once off tax of 25% on any gain made on investment.
You could be missing a better return on your deposits. For more information give Colm, Financial Advisor at Cregan Kelly & O’Brien Financial Planning today!
T: 01 8700370
Here are just 2 funds that Zurich offer and the investment returns are as follows.
Cautiously Managed Fund
- Average return of 5.9% per annum over the last 5 years
- Average return of 7.47% per annum over the last 10 years
Balanced Managed Fund
- Average return of 9.55% per annum over the last 5 years
- Average return of 9.66% per annum over the last 10 year
These returns are based on investment performance of these fund up to the 24th of May 2021
Tax treatment of gains
There is a once off tax of 25% on any gain made on investment.
For more information on the above , please contact Colm Kelly of Cregan Kelly O’Brien Financial Planning on 01 8700370
