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Thread: Best Investment Account at the moment

  1. #1
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    Default Best Investment Account at the moment

    Dear all,

    Just thought I would share this with the forum as many people have asked me this question.

    The best investment account at the moment is Absa's Investment Advantage Account. With this account, you earn 4.5% interest per annum and you have access to your money 24/7 (no waiting).

    The second best is Nedbank's offer with 5% interest per annum and access to your money after 24 hours waiting period. Other banks offer similar interest rates as well, though you have to wait a certain period in order to gain access to your money.

    I will keep this thread up-to-date with the most recent accounts that banks are offering.

  2. #2
    Super Grandmaster supersunbird's Avatar
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    Default

    Unable to find a product page using Absa Investment Advantage Account or Absa Investment Advantage on Google...
    Boycott MWEB
    1. Leave MWeb! They WILL throttle your 1Mbps line to death as soon you download over 100GB
    2. Cancellation form

  3. #3
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    Quote Originally Posted by supersunbird View Post
    Unable to find a product page using Absa Investment Advantage Account or Absa Investment Advantage on Google...
    I think they changed the name to Depositer Plus.

  4. #4

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    ABSA

    Rather go with a lower interest rate and bank with Capitec (4.2 - 5%).
    If you can get into investec, they off 5% for anything under 25 Million.
    http://www.investec.co.za/products-a...ent-rates.html

  5. #5

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    Absa's Money Market is almost 1% better than the Investment Advantage. You also have immediate access to your money and both accounts attract a 0.04% admin fee on deposits. The only difference is that the Money Market account requires a minimum balance of R20k whereas the Investment Advantage requires R1k.

    BTW, the interest on Investment Advantage is just over 5% pa.

  6. #6

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    I'm getting 5% from R1 in my Capitec account. That is the normal rate, nothing special about it.

    And I pay around R40 a month in service fees.... add that together and you will be hard pressed to find a better offer...

  7. #7

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    Well all the returns are under inflation so I wouldn't call it investing per se.

    I agree with VG008 though - the Investec one is the best I know of. 5%, instant transfers and no fees on the transfer. Again though...below inflation so its mostly useful for cash management purposes. e.g. On I've got a schedule transfer on payday that moves 20% of my pay into such an account. Help psychologically because its not part of "funds available" & thus forces you to make do with the 80%.
    Man walks down the street in that hat, people know he's not afraid of anything.

  8. #8

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    Here are the current money market rates:

    Absa Money Market 2013/08/22 4.9200
    Allan Gray Money Market 2013/08/22 5.1300
    BJM Money Market Fund B1 2013/05/31 4.8599
    BJM MONEY MARKET FUND B2 2013/05/31 4.6318
    Cadiz Money Market A 2013/08/22 5.5500
    Coronation Money Market A 2013/08/22 4.9600
    Efficient Money Market 2013/08/22 4.9900
    Investec Money Market 2013/08/22 5.2800
    Momentum Money Market A 2013/08/22 4.9800
    Oasis Money Market A 2013/08/22 4.8800
    Old Mutual Money Market A 2013/08/22 4.8400
    Old Mutual Money Market A2 2013/08/22 4.9300
    Prudential Money Market A 2013/08/22 4.8400
    PSG Money Market A 2013/08/22 4.9200
    SIS Money Market 2013/08/22 5.1100
    Standard Bank Money Market R 2013/08/22 5.0100
    WS Investec Money Market B2 2013/08/22 3.5000
    WS Prudential Money Market C 2013/08/22 3.3400
    Inflation adjusted prices: inflationcalc.co.za

  9. #9

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    Renier - if I may ask, where did you pull that data from? Nothing wrong with it - I just didn't know there is a clean data source for this type of stuff.
    Man walks down the street in that hat, people know he's not afraid of anything.

  10. #10

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    It comes from the ABSA Investments website. Unfortunately it's behind a login, so I can't link to it.
    Inflation adjusted prices: inflationcalc.co.za

  11. #11

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    Quote Originally Posted by Renier View Post
    It comes from the ABSA Investments website. Unfortunately it's behind a login, so I can't link to it.

    Don't tell the city of joburg about this dark witchcraft

  12. #12

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    >Don't tell the city of joburg about this dark witchcraft

    ooohhh....burn. Big fat hacks perpetrated by posting that here too.

    >It comes from the ABSA Investments website.

    Interesting. Weird that ABSA would chose to publish that when their rates are decidedly avg.
    Man walks down the street in that hat, people know he's not afraid of anything.

  13. #13

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    Not sure when the rates are updated, but they are close to the ones posted by Renier

    http://www.moneymarket.co.za/Top-20-...ookieSupport=1

  14. #14
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    Quote Originally Posted by VG008 View Post
    ABSA

    Rather go with a lower interest rate and bank with Capitec (4.2 - 5%).
    If you can get into investec, they off 5% for anything under 25 Million.
    http://www.investec.co.za/products-a...ent-rates.html
    Capitec can close at anytime

  15. #15
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    Quote Originally Posted by MKFrost View Post
    I'm getting 5% from R1 in my Capitec account. That is the normal rate, nothing special about it.

    And I pay around R40 a month in service fees.... add that together and you will be hard pressed to find a better offer...
    I wouldn't trust Capitec at all.

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