So I can only make an estimate. If the unit trust gives an interest of 11% per year then that will be divided by 365 days to get the daily interest. With 2m ugx this is about 600 shillings per day. The interest will increase over time if the money is kept in the account because of compound interest. This means that the interest you earn in January will also gain more interest during February. So the interest in February will be more than the one you earn in January if you still have your initial investment of 2m. That's how I can explain it. I hope it's clear. In case it's not, I can clarify what I haven't explained well.
If you are in Uganda you will need to start by choosing the company to get the unit trust in. There is ICEA, Britam, UAP and so many others. Personally I use ICEA and Britam. I can share the email of the customer care team and you send them an email so that they set it up for you. This is the Britam Team email "clientservicesug@britam.com" and this is the ICEA team email "unit-trusts@icealion.com" I hope this will be helpful.
I haven't used it before and at the moment I don't know anyone that is using it. So, I may not be able to give an informed perspective based on my experience.
Yes, at the rate of 11% per year. The idea of a unit trust is that it's a better place to keep your money than a bank account. It may not be the place that will make you wealthy, but if you are, for example, trying to save up the money you earn from a job or business to buy land, having it collected in the unit trust will earn it some interest. That's my perspective. I hope I've been able to explain it better here.
I really understand the process of sondering capital, I am cheering you on. About which currency to save in,🤔 Personally I save in UGX at the moment. I am sure other people would recommend something else but for now that is now I sonder my capital also
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Wow. Thank you. Very simple and relatable finance information in Uganda.
You're Welcome, I'm glad you enjoyed it and found it relatable.
Finally someone is talking about unit trusts in Uganda 👏
I hope you found it informative.
@@PersonalFinanceCoffee sure yeah
Been thinking seriously about putting my money in a unit trust so this is very helpful and informative
I am glad that you have found it helpful.
oh yes❤
hello
👏
Explain for me the interest amount i will get daily incase i invest 2m ugx
So I can only make an estimate. If the unit trust gives an interest of 11% per year then that will be divided by 365 days to get the daily interest. With 2m ugx this is about 600 shillings per day.
The interest will increase over time if the money is kept in the account because of compound interest. This means that the interest you earn in January will also gain more interest during February. So the interest in February will be more than the one you earn in January if you still have your initial investment of 2m.
That's how I can explain it. I hope it's clear. In case it's not, I can clarify what I haven't explained well.
Can we get a simple formula to calculate this@@PersonalFinanceCoffee
Honestly I can’t find the episode u are talking about sweetheart.. I have a bank account and I want to start investing in unit trusts bt idk how
If you are in Uganda you will need to start by choosing the company to get the unit trust in. There is ICEA, Britam, UAP and so many others.
Personally I use ICEA and Britam. I can share the email of the customer care team and you send them an email so that they set it up for you.
This is the Britam Team email "clientservicesug@britam.com" and this is the ICEA team email "unit-trusts@icealion.com" I hope this will be helpful.
Wat of Sanlam UT, is it genuine
I haven't used it before and at the moment I don't know anyone that is using it. So, I may not be able to give an informed perspective based on my experience.
I need to be enlightened, so if someone invested 1M they will only get 1,110,000 only after a whole year
Yes, at the rate of 11% per year. The idea of a unit trust is that it's a better place to keep your money than a bank account. It may not be the place that will make you wealthy, but if you are, for example, trying to save up the money you earn from a job or business to buy land, having it collected in the unit trust will earn it some interest. That's my perspective. I hope I've been able to explain it better here.
@ it’s only a good deal when you no any other options for investment but the rate is really low
Sondering Capital...😂...usd vs ugx or KES..
I really understand the process of sondering capital, I am cheering you on. About which currency to save in,🤔 Personally I save in UGX at the moment. I am sure other people would recommend something else but for now that is now I sonder my capital also