Are you looking for an alternative to your deposit account or other traditional forms of investment? Then open your ears (or I should say the eyes) and read on because in this article I’m talking about Oval three for three, a new investment product launched in December 2020 by Oval Money.
To tantalize your interest, I immediately tell you that Oval guarantees you a coupon of 3 percent gross on the sums invested, a very high return for any type of medium-term investment like this.
So what do you say you know more? Then let’s go!
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Oval three for three
Three by Three by Oval It presents itself as a practical and flexible investment that can be accessed with an initial budget of only 300 euros. The duration is only 3 years, so the product is in the medium-term investment category.
From the point of view, of the forms of investment, Oval three per three belongs to the Certificates, or Investment Certificates, securitized instruments and derivatives created by a bank or a financial bank whose value is linked to the trend of more underlying.
The fact that Three for three Ovals is flexible, means that you can withdraw, at any time, the money, but it is good to know that to do so you will have to bear a cost of 5.95 percent.
But let’s go straight to see better how Oval works in the following paragraph.
How does Oval three for three
Oval three per three falls into the category of fixed- and medium-term investment products, so its objective is to offer the underwriter a constant return with an annual interest of 3%. This allows, in fact, to protect its capital from the effects of inflation which, year after year, decreases in value the money we have set aside.
The investment with Oval three for three has a maturity period of 3 years, which means that, having a fixed rate of 3% per year (from which the name), the gross return at the end of the transaction will have a total return of 9 percent.
The coupons are paid each year at the expiry of the first, second and third year of investment. The amount will be charged directly to the Oval bank account.
Is Oval three for three sure?
In order to answer the question of whether “Oval three for three is safe”, undoubtedly you have to spend a few more words on Oval Money, the company that launched it.
Well, here we are facing a financial reality, Oval Money LTD, founded in London in 2016 and officially registered in 2017, which introduced the mobile application of the same name.
The app allows its users to manage the different forms of investment and savings provided simply by using their smartphone.
Although recently born, there are now more than 250,000 users who use the free Oval app and the average savings obtained each week is around 35 euros.
In addition, the start-up Oval Money has obtained the “susprotence” of numerous industrial and banking groups, including Intesa Sanpaolo, which have invested in the project.
Finally, Oval Money won the first prize for CheBanca in 2016. Italian Fintech Awards and for the B-Ventures 25×25 Fintech Awards, and was ranked among the 22 emerging startups that won the ANGI national award in 2017 for innovation.
All these elements naturally also in favor of Oval three for three, which, despite being the last born of the company, seems destined to have an important role, also because, as its creators declare, it was created in a period of great financial uncertainty to guarantee users a certain stability while finding ourselves in an economic situation not favorable.
What are the opinions
Before I conclude this guide on Oval three by three, I want to tell you what the opinions on Oval three for three are. Clearly, having recently launched, online there are no reviews from users, so the only way we have to get an idea about this product is to see its features.
Let’s start with the positive aspects: it is certain that it is the high yield (3%) that the fact that the investment can be managed entirely in the app without the need to sign cards or go to the branch exerts a strong attraction on users.
However, I can’t hide that there are also negative aspects, first of all the cost applied in case of divestment that is really very high. So, all in all, the flexibility remains even here only a hypothesis that it is good to keep only as a last resort in the event of a real liquidity problem or sudden expenses.
Even the duration of 3 years, which places the product on an intermediate level between a long and short-term investment, if on the one hand it can be an incentive, on the other it could discourage those who want to invest their money for longer periods.
A final assessment then concerns the same return: Oval three per three is not a current account but a derivative investment product (Certificates) and as such presents, therefore, a certain degree of risk.
And, children know, the higher the interest rate, the greater the risk! This does not mean that it is not worth running, however it is always good to be well informed from the beginning!
