Doubling your money and the Rule of 72

As greedy humans, we want something that doubles our money.

Fine, I will give you something that can double your money.

The Rule of 72.

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How does this work?

BDO cuts interest rates too (after MBT and BPI)

(image from www.slatepropertiesnow.com. No copyright infringement intended.)

I already blogged in a previous post about the rate cuts on deposits products of Metrobank and BPI this year.

And now, BDO has imposed the same rate decrease on savings products. See the new rates on their website.

0.25% annual interest rate.  Seriously?

After Metrobank, BPI to cut deposit rates too

(image from www.slatepropertiesnow.com. No copyright infringement intended.)

Because of the low interest rate environment, Metrobank welcomed the year with also lower interest rates for its depositors.

From 0.375% gross annual interest rate for regular savings accounts, this was lowered to the current 0.25% per annum starting January 1, 2013.

And now, BPI announced recently that it will also cut the rates of deposit accounts starting February 15.