Absa investment products

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derp90

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I need to have a savings or investment product worth R5000, with a debit order of R250 per month into it so I can move up a tier on Absa rewards.

I already have a TFSA with Sygnia and I don't intend to put a lot into this one, as I want to put all my spare money into my bond.

What product would you recommend to choose? They have a whole bunch, from normal savings, to unit trusts to share trading.

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FNB have the same thing.

I spent an hour or so trying to find something to invest in, but all had high fees and poor performance. Ashburton is what they want you to buy.

The only decent one at ABSA looks like their TFSA one.
I stick with Satrix rather and have it in one place, like you with Sygnia.

Good luck.
 
I opened the core saver account. I transferred 5k into it and then have a debit order of R500pm to meet the rewards requirement.

Core saver seemed ok to me after reading the documentation.
 
Depositor plus account for this very reason, initial R15k deposit though.. but afterwards can lower to R5000
 
123Eish said:
I opened the core saver account. I transferred 5k into it and then have a debit order of R500pm to meet the rewards requirement.

Core saver seemed ok to me after reading the documentation.
Click to expand...
Do you know the debit order requirement is just R250 ?
 
Goliath said:
Depositor plus account for this very reason, initial R15k deposit though.. but afterwards can lower to R5000
Click to expand...
I was going to go for this but according to the table on their site, if you have an amount below R15k then the interest rate is 0.

I opened a TruSave with R5k instead.
 
Just for interest: Which investment product at ABSA is worth throwing R200K in ?
 
HunterNW said:
Just for interest: Which investment product at ABSA is worth throwing R200K in ?
Click to expand...
If you don't need access to the money then look at the fixed term options. They have better interest rates.

I only get around 5% with my depositor plus.
 
Park@82 said:
What is your current rewards tier? I think I am on 3 and only get around R300 from it.
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I opened the TruSave savings to get to 3. The max I'll get to is 3 without signing up for more things like a credit card and overdraft etc. which I don't want.

But getting to 3 was minimal effort since I already had a home loan and I just needed this savings product.
 
Question (don't mean to steal this thread). I have a absa notice select account to keep emergency money/ or money I would like to use for something else.

I also have a TYME Bank account, should I rather keep it in goal saver ?

Where do you keep yours ?
 
Cokefest said:
Question (don't mean to steal this thread). I have a absa notice select account to keep emergency money/ or money I would like to use for something else.

I also have a TYME Bank account, should I rather keep it in goal saver ?

Where do you keep yours ?
Click to expand...
If you have a flexi bond every extra cent you have should be there and I mean every cent
 
derp90 said:
I was going to go for this but according to the table on their site, if you have an amount below R15k then the interest rate is 0.

I opened a TruSave with R5k instead.
Click to expand...
Did the same, forgot about that part!
 
ask for the Depositor Plus account from ABSA - they give 6.15% interest to their better clients, and immediately available (not a term or fixed deposit), i.e. better growth at this stage than ABSA Moneybuilder, which is linked to the Moneymarket.

but yes… Tyme bank gives you 6% in a Goal Save (savings pocket) after 3 months, which is excellent from a free savings account
 
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