Best Interest Rate?

D

Dryden

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Hi

I'm fortunate enough to be able to save a few 100 bucks each month which I put in a savings account. I'm not sure what I'm saving for - maybe a rainy day; maybe until I can buy my own gimp.

I get virtually no interest on that these days. Where should I put it? I don't simply want to ask a bank consultant as I have the nagging feeling they'll recommend whatever will give them the most commission and not what's best for me (and my meagre savings)

Thoughts?
 
Dryden said:
Hi

I'm fortunate enough to be able to save a few 100 bucks each month which I put in a savings account. I'm not sure what I'm saving for - maybe a rainy day; maybe until I can buy my own gimp.

I get virtually no interest on that these days. Where should I put it? I don't simply want to ask a bank consultant as I have the nagging feeling they'll recommend whatever will give them the most commission and not what's best for me (and my meagre savings)

Thoughts?
Click to expand...

How much is "a few 100 bucks" and how much do you currently have saved? Most investments have some barrier to entry, with most worthwhile ones I've been looking at lately, having that figure at around the R15k mark.
I believe Capitec have some options for smaller savings amounts that give semi-decent interest rates.
 
Check out Capitec - they give 6% - very little fees as well.
 
go to capitec, your money will be locked up though for a min of 6 months
 
Messugga said:
How much is "a few 100 bucks" and how much do you currently have saved? Most investments have some barrier to entry, with most worthwhile ones I've been looking at lately, having that figure at around the R15k mark.
I believe Capitec have some options for smaller savings amounts that give semi-decent interest rates.
Click to expand...

What are these decent investments for 15k?
 
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