The Guyana Bank for Trade and Industry (GBTI) yesterday launched its new Education Savings Plan and Minister of Education Dr Rupert Roopnaraine urged other banks to follow suit, while saying education is the most instrumental sector in development.
With the new savings plan, parents or guardians will be able to set up a plan for their children with the minimum target being $2 million and the maximum target being $15 million. Once a target is set, a financial calculator is used to determine how much money will be needed to be deposited every month or quarterly and which would attract an interest of 5%.
Speaking at the launch, Roopnaraine lauded the bank’s innovation and highlighted that it is time that we move from “scrimping and saving” and towards a more evolved method of strategic investment. While referring to the University of Guyana’s newly-graduated valedictorian Sachin Ramsuran,
