Guitaret wrote
My bank charges 6,500 per month and regarding the discrepancy between you and me:
In similar months (30 or 31), do you get same return percentage on maturity date? If not then the public holidays issue or such must be true because mine have similar returns in same months.
When I changed the bank fees from 7,500 to 6,500 in my Excel investment simulator, the real return rose to 5.64% so that matches with yours. There's a slight difference in the amount saved as well between you and me, but yeah we're in the same boat.
I can't know accurately regarding 30 vs 31 because I always add money to the account sometime during the month so the percentage is always all over the place since the invested amount changes within the investment period (month).
To be honest, when I tell my friends in the US and Canada about the rates we get here, they're wowed and they ask me if they can send me money in USD so that I exchange it into LBP and invest it for them. I know the Lira is pegged and I know it carries some risk, but I still consider this investment to be low risk and for 5-6% return, it beats US bonds and eats it for breakfast. We're blessed by that when it comes to investments, but pay the price should we need a loan.
I recommend you read 1)The Millionaire Next Door and 2)Common Sense on Mutual Funds. These are the most important books I have read about personal finances and investment. The second book basically proves that trying to beat the market ends up failing most of the time. You're better off just investing in a low-cost index fund that tracks the entire US stock market.