27 Mar 2024 | Edukatips

Managing THR Funds for Investment & Savings

Religious Holiday Allowance (THR) has become a highly anticipated additional fund ahead of Eid al-Fitr. Given that THR is an additional income that does not come every month, it should be used wisely. Avoid spending it on consumptions, set it aside for savings and investment.

How to Spend Your THR

Having additional funds ahead of Eid al-Fitr can help make your finances healthier. Here are the steps to use THR.

1. Investment

It is wise to allocate a substantial portion of your THR funds for investment. You can use the Welma feature in myBCA to invest in mutual funds and bonds. To start investing in mutual funds on myBCA, you only need a capital of IDR10,000. 

2. Set up an emergency fund

Don’t forget to build an emergency fund for unexpected events in the future. It should be at least 6 6 to 12 times the number of your monthly expenses. To avoid spending your emerging fund on consumptions, you can save it using the e-Deposit feature on myBCA.

Investment and Deposit on myBCA

To find out more about investments and deposits on myBCA, check out the following information::

1. Mutual Funds

For mutual fund investments, there are several types of mutual funds that can be tailored to your risk profile, such as money market, fixed income, equity, and mixed funds. Check your risk profile and determine the type of mutual fund that is suitable for you to invest in.

2. Bonds

Bonds are investments in both conventional and sharia securities. The profits made will be distributed to the investors in the form of coupons. The tenor of return can vary, ranging from 3 to 6 years.

3. Deposit

A deposit account is another instrument that can be used to manage finances, including THR funds. Deposit savings have a specified tenor that can be selected upon opening. The funds can be withdrawn along with the deposit interest on the maturity date.

Download the myBCA app on the Play Store and App Store now to use the Deposit feature, Welma feature, and other features.