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Financial Institution Promotes Savings
The Grupo Mutual (formerly Mutual Alajuela) now
can make gift giving easy, especially the gift
of promoting the habit of saving, with
investments that can be started with as little
as ˘500 colones (us$0.96).
The Ahorros Infantil account can be opened for
children between the ages of 1 and 10 years, who
will be given their own account card to make
deposits to their account. withdrawls can only
be made ther parents or legal guardians.
The Cuenta Juvenil is geared for those aged
between 11 and 17 years of age. The minor will
have his own ID card and can make deposits and
withdrawls, with parental authorization, from
the account.
The interest earned on these two accounts is tax
free and according to Mutual officials it is
important Costa Ricans learn the habit of
savings, considering the culture that is
oriented toward consumption.
The other innovative financial product is an
investment certificate that can be purchased for
as little as ˘500 colones to a maximum of
˘20.000 colones, with a fixed interest rate and
term, which can then be given as a gift.
The certificates are only available for purchase
by Mutual customers, however, can be given to
anyone.
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