Fixed Deposit for Senior over 55?

[Lefty309]

Hello, does anyone have suggestions for a savings vehicle that is relatively risk free and requires no attention from a senior over 55 years old? I'm looking at fixed deposits, particularly this one here at Investec with their minimum R100k investment and 10.14% effective interest rate over 12 months. But I would like more opinions before going ahead. Thanks

 

[Thugscub]

Just be careful of what banks offer and the reality of what you get.
Banks are notorious for BS you.

 

[W@P]

Hello, does anyone have suggestions for a savings vehicle that is relatively risk free and requires no attention from a senior over 55 years old? I'm looking at fixed deposits, particularly this one here at Investec with their minimum R100k investment and 10.14% effective interest rate over 12 months. But I would like more opinions before going ahead. Thanks

Nedbank has these accounts for 55 years and older folks.

Electronic Optimum Plus

Optimum Plus

Capitec also has a Fixed Account

And African Bank to name a few.

 

[Hemi300c]

Don't just look at interest rates as the banks fees could hurt substantially. Investec I believe are very high in their charges.

 

[Speedster]

In ZAR terms, retail savings bonds are looking very tasty