2020 was a year of many losses. It has been a year since the COVID-19 pandemic shackled the whole world. Still, despite the numerous heartbreaks, there are also breakthroughs as people have to adapt to the new normal. One of the pandemic’s positive things is the clarion call for financial and digital literacy in the Philippines. Do you know you can invest Php50 with GCash’s GInvest? It lets Filipinos own shares of the investment or mutual funds of companies. Read on to find out more!
GCash’s GInvest Fits Into BSP Digital Transformation Roadmap
Last year, the local e-wallet GCash app had a 65% user growth. It was because most people chose to stay home due to the lockdowns and physical distancing rules. This development fits nicely into the Bangko Sentral ng Pilipinas’ (BSP) Digital Payments Transformation Roadmap 2020-2023, which objective is to have “an efficient, inclusive, safe, and secure digital payments ecosystem that supports the diverse needs and capabilities of individuals and firms, towards the achievement of the BSP’s mandates.”
Other than the payment features in GCash, users can also save money through the app’s GSave with a base interest rate of 2.60% annually and invest in Unit Investment Trust Funds (UITF) through GInvest. This year, GCash has added new investment options to GInvest, and users can start investing with Php50 only.
More Things to Know About GInvest
GCash’s GInvest enables app users to own shares of the investment or mutual funds of companies. However, they can’t buy actual stocks directly through the app as it isn’t a stock brokerage platform. It’s a good start, though, for Filipinos who want to explore ways of growing their wealth safely with minimum investment because GCash is easy and convenient to use.
The types of funds available in GInvest are Money Market Fund (Conservative), Equity Fund (Aggressive), Bond Fund (Moderate), Global Consumer Trends Feeder Fund (Aggressive), and Global Technology Feeder Fund (Aggressive). The last fund gives access to overseas technology companies like Facebook and Apple. However, its minimum investment is Php1,000, which is still considered low.
Vlog: How To Invest Php50 With GInvest
If you want to know how GInvest works, check out Nicole Alba’s GCash’s GInvest 2021 YouTube vlog. She shows in the video how to buy actual funds, and she promises to do a follow-up vlog after a few months to see how her investment performs. Also, if you want to learn more about investing, the Nicole Alba channel has many videos about it.