“Gachi bay ni nyem? Shiew dan baa ni med”- What are we going to do? We have to leave empty handed once dead.

We, especially Bhutanese are attuned to living with this notion and culture which commonly leads to poor saving habits. True that we will not carry anything when we die, but definitely we need to live, most desirously a happy life, until we are dead.

In today’s materialistic and fast-paced world, the importance of saving cannot be overstated. Saving is all about building a secure future for yourself and your loved ones. However, in Bhutan, we usually prioritize immediate gratification over long-term financial security. Financial literacy and saving culture is fairly uncommon from our young ages. These knowledge and habits instils a sense of financial discipline and responsibility.

Let us try to make a difference for our children’s future by educating them on the importance of saving. Here are some tips/ suggestions to build and improve your saving habits:

1. Open an account with a bank of your choice. Do it today!
2. Always remember that you have an account. Most of us go to a bank, open an account and then forget it
3. Every time you get or earn something, always remember to keep aside some portion to save in your account because that will surely help you when you need it later
4. How much you save (the amount) does not matter. What matters is “you always save”.
5. Set your saving goals. Differentiate between your needs and wants and spend wisely

While building a savings habit is crucial, selecting the right financial instrument is also equally important. So, here are some of the products offered by Bhutan National Bank (BNB) designed to meet your needs and help you develop a robust saving habit.

• Saving deposit accounts: Suitable for everyone above 15 years of age
• Current deposit accounts: Suitable for business sectors
• Recurring deposit accounts: Perfect for those who want to save a little each month. It is a disciplined way to save over a specified period and earn interest.
• Fixed deposit accounts: Excellent for those who have money they don’t need now and wish to earn higher returns over a period of time.
• Fixed deposit plus: Suitable for those who have money for fixed deposit but needs the interest on monthly, quarterly, half yearly or yearly basis to meet their expenses
• Piggy Bank accounts: For Children below 15 years. This product is specifically to address the concern of building saving habits among our children
• Pensioners account: Meant for the retirees who receive their pension benefits.

If you want an appropriate banking product and ensure that your money works for you, please choose BNB. It’s time for us, the Bhutanese to recognize the importance of saving and act to build a financially secure future.

Save today for a secure tomorrow!

Contributed by:

Mr. Kelden Dorji

Chief, Customer Services