Idle money, have 30 million, should I save or buy gold?

If you have 30 million, should you save or buy gold? to make a safe profit? At each different time, storing gold or saving money has its own advantages and disadvantages. At the same time, there are 30 million idle, what should I do besides these 2 safe investment channels. To know if you have 30 million to save or buy gold, please read and learn in detail the pros and cons of these two investment channels in the article below!

Should you save 30 million or buy gold – if used to save?

Advantages of using 30 million for savings

Profitability and safe accumulation: The amount of 30 million you deposit will not be lost but can also be increased thanks to a stable interest rate.
Less risky: When it comes to saving money, it is certain that the risk is always low. When a crash occurs, you'll often be worried about your savings. However, all banks will have deposit insurance, so you can rest assured.
Easily withdraw money when needed: Bank savings, you can easily withdraw money when needed. If you withdraw money before the maturity date, you will receive interest at the rate calculated according to the savings interest rate for the term.
You will enjoy many promotions and incentives from the bank.
Various forms of submission: In order to meet the needs of customers, banks often offer various forms of savings such as savings, installment deposits, ladder deposits, .. you can easily choose to suit your needs. own needs.

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Disadvantages of saving with 30 million VND

Low interest rates, which fluctuate over time are the disadvantages that this investment channel currently has. Savings will not be profitable as quickly as investment channels such as securities, virtual currency, etc. However, banks have adjusted interest rates to attract customers.

So how much interest is 30 million deposited in the bank?

Should you save 30 million or buy gold? If you do not have a business plan but only need to deposit long-term savings and receive interest at the end of the period. Because banks have now been given the "green light" in setting the yield curve, which means that short-term terms of less than 6 months are limited to interest rates of no more than 6%. As for the term of 6 months or more, they are free to negotiate at a reasonable rate, possibly up to 7-8% per year, so customers will benefit from long-term deposits.

So with 30 million in bank deposit how much interest? – if you deposit for a term of 1 to 3 months, the interest rate is only about 5.6% per year. You pay less than 140,000 VND per month.

Meanwhile, with this same amount of money, you deposit with a term of 6 months or more, calculating interest at the end of the period, the interest will fluctuate over 7%/year. Then the interest that you receive each month will be nearly 180,000 VND.

Use 30 million to invest in gold

Advantages of investing in gold

Preserve value

Gold offers important protection during economic downturns. The fact that gold is a reserve represents purchasing power, it is on this point that gold can provide protection against recessions.

Gold does in fact perform well during times when central banks use monetary policy to weaken its currency. In this case the amount of money will increase as expected but the amount of gold will stay roughly the same around the world.

No risk of bankruptcy

Gold will not be liable to any bank, individual, business or government. Precious metals, typically gold, will not be affected by the above factors.

International liquidity

Precious metals like gold are highly liquid internationally and you can easily sell gold anywhere in the world. This happens because anyone will be willing to buy your gold anywhere.

If you have 30 million, should you save or buy gold? – With a price of over 3.6 million/1 only, with the amount of 30 million you can buy about 8 gold bars. With signs of a strong increase in the current gold price, this is an investment channel worth considering at the moment compared to savings.

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Analyze the pros and cons of this type of investment!: Should you invest in gold?

Disadvantages of Investing in Gold

Besides the advantages that the gold investment channel brings, there will also be disadvantages that make you think about whether to invest in gold with 30 or not!

Low profit: Gold trading has a lower return than investing in stocks, virtual currencies, etc. This is explained by the fact that the price of gold changes very slightly over time. So you need to trade for a longer period of time to make a significant profit.

There are price adjustments: Gold has also gone through as many price corrections as any other instrument in the financial markets. This downside means that if you can't hold gold for a long enough time, this price correction could work against you.

>> You are choosing the best profitable investment place: Should I buy bonds or save?

Epilogue

If, after reading our article "Idle money, 30 million should save or buy gold" and you think that you don't know which channel to choose. And if you don't know what to do with 30 million idle, you can refer to other investment channels such as securities, virtual money, fund certificates, etc. Follow other articles of this company. Market hot newsfor financial investment suggestions that are more profitable than investing in gold and saving!