Understanding Danvest Savings Products

 

Introduction

At Danvest, we offer flexible savings options designed to help you reach your financial goals with ease. Whether you want instant access to your money or higher interest rates for longer-term savings, we have the right plan for you. Here’s a breakdown of our three main savings products:

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1. Flex Savings

Interest Rate: 5% per annum
Key Feature: Your money is fully flexible — you can withdraw anytime without losing interest.

• Who is it for?
  Perfect for users who want to save regularly but might need quick access to their funds without penalties.
• How it works:
  Your savings earn 5% interest annually. You can deposit or withdraw money at any time without penalty. Interest is calculated daily and credited monthly, helping your money grow steadily while keeping it accessible.
• Ideal use cases:
  Emergency fund, rainy-day savings, or flexible short-term goals.

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2. Fixed Savings

Interest Rate: 7% per annum
Key Feature: Higher interest than Flex Savings but early withdrawal results in losing interest.

• Who is it for?
  Users who can lock their money savings for a fixed period (e.g., 3 or 6 months) and want better returns.
• How it works:
  You commit to locking in your savings for a chosen period. You earn 7% per year on the full locked amount. However, if you withdraw money before the due date, you will lose your interest for that savings period.
• Ideal use cases:
  Medium-term savings where you don’t anticipate needing access before maturity.

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3. Lock Safe

Interest Rate: 12% per annum
Key Feature: Get your interest upfront; your principal is locked with no withdrawals until maturity.

• Who is it for?
  Savers ready to commit funds for a fixed period and earn the highest interest rate available.
• How it works:
  When you open a Lock Safe, your interest is paid to you upfront immediately. Your principal amount is locked and cannot be withdrawn before the maturity date. This product is designed to maximize your earnings at 12% per annum.
• Important:
  You can’t access your money before the due date, so plan accordingly.
• Ideal use cases:
  Long-term savings or savings you do not need to touch, such as for education fees or future investments.

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Choosing the Right Plan for You

• Need flexibility? Flex Savings is best.
• Want better interest with some commitment? Go for Fixed Savings.
• Ready to lock funds and want top interest? Choose Lock Safe.