Best Investment Account at the moment

[TheVMan]

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.

 

[supersunbird]

Unable to find a product page using Absa Investment Advantage Account or Absa Investment Advantage on Google...

 

[TheVMan]

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.

 

[VG008]

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-...d-savings-accounts/cash-investment-rates.html

 

[BigAl-sa]

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.

 

[MKFrost]

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...

 

[HavocXphere]

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%.

 

[Renier]

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

 

[HavocXphere]

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.

 

[Renier]

It comes from the ABSA Investments website. Unfortunately it's behind a login, so I can't link to it.

 

[Sinbad]

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

 

[HavocXphere]

>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.

 

[VG008]

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

http://www.moneymarket.co.za/Top-20-Money-Market-Funds.aspx?AspxAutoDetectCookieSupport=1

 

[TheVMan]

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-...d-savings-accounts/cash-investment-rates.html

Capitec can close at anytime :erm:

 

[TheVMan]

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.

 

[TheVMan]

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.

Yes. Sorry, I had posted the original interest rate. It's just over 5% now.

 

[MKFrost]

I wouldn't trust Capitec at all.

Care to share your reasons?

 

[^^vampire^^]

Bidvest 120 Day account - 6.x % - medium term investment
Capitec R9999 balance x 5 for 5.0% - liquid funds

 

[HavocXphere]

Capitec can close at anytime :erm:

Why on earth would you think they might close...all their ratios look solid to me.

 

[AlmightyBender]

Capitec can close at anytime :erm:

I wouldn't trust Capitec at all.

So the fastest growing bank with the most solid banking product can close at any time... oh do please tell us more!

/runs to get a +2 Tinfoil Hat of Unknowing