One of the most common challenges that people often get themselves into is struggling to save as much Money as we want. However, with Timo, saving money can be as easy as pie. Join us in exploring the convenience and flexibility of Timo Goal Save in the article below.
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Important notes:
From 5th July 2019, foreign nationals are no longer eligible for Goal Save Accounts as stated in Circular no. 48/2018/TT-NHNN.
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Timo Goal Save is a smart tool that allows the creation and management of effective financial goals. With Timo Goal Save, you can create as many saving goals as you want in a few swipes and taps in the Timo App on your phone.
1/ Automatic saving
How many savings methods have you heard of and tried yourself? Has there been any savings method that has been significantly more effective than the others?
To help you save without spending a lot of time planning ahead or even thinking, Timo Goal Save allows users to setup recurring contributions with your own choice of frequency – daily, weekly or monthly. With the amount of money you need to save for your goal and your selected frequency, Timo will calculate and automatically move money from your Spend Account to this goal.
However, if you are not entirely confident with this automatic contribution feature, you can always leave this for later and start with manually moving money from your Spend Account to your Goal Save whenever you want.
2/ Flexible settings
Having a savings account is like having your own asset, and you should be able to be entirely in charge of your asset. Understanding this need, Timo Goal Save is designed with flexible settings for you to adjust your savings goals anytime and anywhere.
Firstly, with Goal Save, you can freely decide on names for all of your savings goals to boost up your motivation. Instead of having to stick with ordinary names such as “Savings Account 1”, “Savings Account 2”, etc., you can freely set up creative names for your savings account such as “Euro- Trip”, “Dream watch”, “My perfect wedding”, etc. Additionally, instead of using traditional methods where you can only set up your savings amount and due date at the beginning, you are entitled to change your goal name, target date and target amount for your Goal Save whenever you want. You can also turn your automatic recurring contribution feature on and off at anytime you wish.
At Timo, we also make it completely free for you to transfer as much money as you want from your Spend Account to any of your Goal Save Accounts. If you do not have a specific goal in mind but do not want to tie your money into a Term Deposit, you can also save your money in the Piggy Bank.
