Programmed savings accounts are a method in which the client, according to his saving capacity, establishes the amounts and the time that his deposit will last in the financial institution in which he acquired the account.
They serve to meet specific goals and have a time limit.
These accounts have advantages such as a preferential interest rate, they do not have a management fee and they do not have a transactional means of payment.
In addition, you have the money 100% available when you need it.
There are currently two types: one in which programmed savings schemes can be obtained for specific goals such as home purchase and another in schemes where it is left to the saver’s discretion.
According to Asobancaria, “this account can be used to make the initial payment of a social interest home or for other types of goals such as vacations, vehicle purchase, among others.”
Thus, depending on the bank, the saver will be able to find savings programs in which they can define a monthly fee -taking into account the minimum values requested by the bank-, the saving time and the concept by which the saving is made.
These accounts are characterized because they have some restrictions for the withdrawal of money, since in these a minimum monthly savings commitment is usually made and the resources will be available to the client until a certain date or a previously defined amount.
In this way, it helps the saver to improve his discipline and avoid using the money in insufficient consumption.
Benefits
Savings accounts that can be programmed have several advantages, such as having a single owner or a family group that contributes collectively.
The account opening amount is defined by the saver.
This type of account is exempt from administrative charges from banks, there are no charges for card handling and other similar.
It also has tax benefits in income tax.
Plus, save on a banking entity will help savings not lose so much due to the explosionin compensation an interest rate is granted.
The requirements
To obtain this product in case of being a natural person, it is requested that the person making the request be the head of the household, that they do not have another property and that they does not receive income greater than four current legal minimum wages.
In addition to this, some entities request documents such as a photocopy of the identity document enlarged to 150%, fill out an electronic link form, income and withholding certificate, income statement for the last taxable year and bank statements.
If you have questions or comments or you want us to write a topic for you, send an email, very specific and without attachments, to laules@eltiempo.com.
