Savings account with the best interest rate (short term)

xrapidx

xrapidx

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Can anyone recommend a bank with a decent interest rate for short term savings, say 6 months at a time? Besides Capitec and ABSA.

ABSA - the reason is obvious.

Capitec - just came back from them and they won't accept my ID... photo goes over the black line, I've had the ID for 13 years, voted with it last week - and never had a problem.
 
No thanks - All my accounts are currently with ABSA, they are utterly useless - and will probably bugger up any interest calculation anyway.
 
Yeah, my primary accounts are also with ABSA, no issues really thus far luckily - touch wood. You can monitor the interest due on a daily basis through internet banking if you wish :)

Quite keen what everyone else suggests as I'm always on the lookout for better options. Virgin Credit Card used to be a good option a while back, rates up to 8%...but alas that is no more.
 
Is it even worth shopping around for interest rates on savings accounts? The interest is so pathetic it seems to be a bit of a waste.
I have just stuck everything into my access bond. Saves me money on interest and is available whenever i need.

Could be way off base here though, it just seemed to be a futile exercise when i looked around.
 
Well - 6% on R100,000 is R6,000 a year?

I would stick it in my bond, but tend to always use the extra saved for some emergency... so I'd like this in a separate account.
 
Maybe worth looking into money market accounts also.
 
Capitec's rates on small savings accounts are pretty much the best - maybe phone their head office and complain? Or Hellopeter them...
 
wndrbees said:
Try another Capitec branch.
Click to expand...

xrapidx said:
That makes sense, go out of my way where I will potentially get the same excuse.

.
Click to expand...
Had a similar issue when my son opened his account with Capitec (his ID had been washed a few times). The branch I went to (woodmead) was however willing to accept his passport as proof of ID.
I'm a capitec fanboy of note in case you hadn't noticed. ;)

Take a look at Alan Gray unit trust options. They've got a product from as little as 500 rhondt a month
 
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xrapidx said:
I tried offering them my drivers license - did not want.
Click to expand...
nope ... they won't accept. wierd that they accepted passport considering the rep ZA docs have got worldwide , but there you have it

I'd still give the branch a call before I pitched up all ready to open an account with my passport though.
 
Not going to bother... they didn't want my business - I'm not going to run around after them.
 
When I went to Capitec to open my account they refused to take my Municipal Rates Account (my proof of residence) because it was an electronic bill that gets emailed to me each month and I had printed it out myself on a colour printer. They said they needed an original posted version from the Municipality.

I told them I don't get posted versions anymore, so what was I supposed to do? They told me to go to the Municipal offices and get a new one. I went, and what did they do? They took the electronic copy they emailed me and printed it out for me on a terrible B&W printer. Their postal printer only runs once a month on a bulk run because it costs a lot to keep in operation.

So I managed to convince some guy from a random department at the Municipal offices to put an official-looking stamp on my printouts and took it back to Capitec.
They again refused to take a printed copy despite it being FROM the municipality, so I just asked to speak to the branch manager and explained the situation. The guy saw reason, fortunately, and I got my account opened.

I'm extremely glad I did the effort to get the account opened, because Capitec is really great and I am very happy with them.
 
Unless i am missing something, with Capitec, you only get 6% on balances under R10k.
As you put more in your earn less interest.
 
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