Good way to make money grow

DURING this time of economic uncertainty, what can people do to make their savings grow?

Loh Geok Lan, 56, has decided to buy the Sukuk Simpanan Rakyat Islamic bonds which went on offer yesterday.

“This is a good way to make our money grow as it is safer and more secure compared with other kinds of investments,” she said when met at a bank yesterday.

The pensioner who bought the maximum amount available for an individual at RM50,000, said the interest return at 5% was the main attraction for her.

“The interest rate for FD is only at 2.5% for a year.

“I’ll encourage my friends and family to buy the bonds too as now it seems to be the best way to make money grow, especially for pensioners like me,” she said.

Another buyer Tan Siew Ngor, 60, said: “It is too risky to invest in stocks and other kinds of investment are risky as well.

“The Islamic bonds seem very reliable as they are offered by the Government.”

The bonds which are available until May 13 are the first batch of the dual-series RM2.5bil Islamic bonds.

They are part of the Government’s RM60bil stimulus package announced on March 10. Up to RM5bil in saving bonds with a maturity period of three years will be issued this year for people aged 21 and above.

An office worker, who wished to be known only as Miss Cheah, 35, said she and her friends were withdrawing their FD savings to buy the bonds.

K. Ashadevi, 25, said she was keen to find out more about them.

“There’s no harm buying the bonds if one has the extra money,” she said.

A bank officer said banks were receiving good response to the bonds from the public.

“With such high demand, I will not be surprised if the bonds are sold out in a week’s time,” she said.

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