Intelligrow

So in this outgrowing modern society, where everyone is in a rat race behind just one thing i.e. money. No doubt it has grown to be the most important commodity of human life. So we have several people pointing at the number of ways to save money. Everyone has their narration on this piece of paper that binds the entire world. Despite knowing the importance of money we often fail to save it. It’s our basic human nature to be reluctant for planning towards the future. But when the matter is all about money We can not risk losing the chance to save it. One such scheme to save money on Regular Bases is Pigmy Deposit Scheme.

We all remember our Childhood when we saved all the coins we got in piggy banks, dreaming to buy that one toy, game, and gift. Children are often flickering but even though they end up saving the money. It’s because of the drive, they have a goal set in their mind to which they are committed. I often wonder why this habit gets vanished when we grow up. The pigmy scheme is the same that inculcates that discipline back in us and makes us responsible towards money.

Pigmy Deposit Scheme is a method where people can save their money on regular bases. The key feature of this scheme applies to everyone no matter how much you are earning regularly. Everyone can save the amount that is comfortable for them on regular bases. It ranges from a minimum of 20 rupees to 5000 rupees, you can deposit as per your wish. This brings in a sense of discipline in one’s nature. People when they are set to save a certain amount of money they often end up saving it. The majority of them cut unnecessary expenditures and save it for Pigmy. The amount of one day may seem worthless but we often say “Drop forms the Ocean” Just like that these small savings of each day end up as your greatest assets at your needful time.

Deposit Scheme of Pigmy Banks:

Interest Rate — 7.00 % PA
Deposit Amount As Low As Rs:- 20/- (Multiple Of Rs:- 10/-)
Collection To Be Done Minimum Of 25 Days In A Month
Account Holder Can Withdraw The Amount After 1 Year Without Penalty.
No Penalty Even If Depositer Is Unable To Pay Regularly.
Available Loan Against 80 % Deposit (2% Higher Interest Rate Than Deposit Intrest)

Advantages of Pigmy Banks

1. Developing saving habits: Piggy banks are great tools for teaching children the importance of saving money. It instills the habit of setting aside money regularly, even if it’s just small amounts, which can become a valuable lifelong skill.

2.Goal setting: Children can set savings goals using a piggy bank. Whether it’s saving for a toy, a special treat, or even just to see their money grow, having tangible goals encourages discipline and patience.

3.Financial literacy: Managing a piggy bank introduces basic financial concepts to children, such as the idea of saving for the future, the value of money, and the concept of delayed gratification.

4.Visual reinforcement: Piggy banks visually represent savings progress, as the money accumulates over time. This can be very motivating and rewarding, especially for young savers.

5.No banking fees: Unlike traditional bank accounts, piggy banks do not have any fees associated with them. They are a cost-effective way to save money, especially for small amounts.

6.Immediate access: Saving in a piggy bank provides immediate access to the saved funds whenever needed, which can be particularly useful for small, unplanned expenses.

7.Cultivating responsibility: Taking care of a piggy bank and being accountable for the money saved inside can teach responsibility and ownership.

8.Encourages creativity: Piggy banks come in various shapes, sizes, and designs, allowing children to choose one that appeals to their interests. This fosters creativity and individuality.

Conclusion

Saving is the Key to success these words are the ultimate truth of finance. Overnight growth is just a fantasy and that’s why great things take time to build. A Pigmy deposit is one step towards your financial stability and independence. The impact that it makes on your life can not be matched. Hence we can make the statement that in changing world of finance “Pigmy Scheme is The Game Changer”.

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