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Several MFIs that are getting Gates Foundation money are experimenting with savings accounts that feature commitments to make regular deposits, something many people find attractive.
The service offers affordable loans in general, but provides incentives in the form of larger loans for those who save and make regular deposits.
Make regular deposits into the account.
You can also make regular deposits and withdrawals without transaction restrictions when you have a Savings account.
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Have you been making regular deposits?
In economics textbooks, money is money, which makes it seem as if you could get the same results by making regular deposits into a savings account or even into a jar labelled "Christmas Money".
He adds that making regular deposits can help investors to avoid two of the most common mistakes: selling after a downturn and delaying an investment to wait for the "right time".
You will want a spot that is not too close to your home but is still close enough that it will be convenient for you to make regular trips to make deposits in your compost pile.
More than half reported that they built the accounts by making regular automatic deposits from their checking accounts.
Bank staff would make regular – sometimes weekly – trips to the palace, to pick up cheques and bundles of cash, which were then deposited in dozens of accounts.
Need to make regular payments?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com