FNB Money Maximiser

[juxta]

Hi guys

So I have about R300k to invest and I’m wondering if FNB Money Maximiser is worth it to invest this in?

And for those of you who have experience with it, is it a good vehicle to invest my money in? What has your experience been?

 

[TheAssister]

Hi guys

So I have about R300k to invest and I’m wondering if FNB Money Maximiser is worth it to invest this in?

And for those of you who have experience with it, is it a good vehicle to invest my money in? What has your experience been?

Try phoning FNB, some times they have better investments for larger amounts.

 

[VG008]

For short term investments its okay. I'm getting around +7%. You can look @ the Allan Gray Money Market fund which offers near to 8%.

 

[Snyper564]

Hi guys

So I have about R300k to invest and I’m wondering if FNB Money Maximiser is worth it to invest this in?

And for those of you who have experience with it, is it a good vehicle to invest my money in? What has your experience been?

Do you have a bond? If so pop it into your flexi bond if not look elsewhere like you doing.

 

[TofuMofu]

Why wouldn't fixed deposit be a better option? Higher interest rates.

If you're not planning on using the money in the next 5+ years, then surely a fixed deposit would be far better?

 

[Tomtomtom]

Note it has a cheeky monthly fee. This reduces the effective interest rate. On R300k it's now 6.89%, not 7.15%.

But you get instant access, so I use it for short-term liquidity and convenience.

 

[SauRoNZA]

What is your investment horizon?

I would recommend an account that isn't instantly on-call otherwise you lose out a whole lot.

 

[juxta]

Note it has a cheeky monthly fee. This reduces the effective interest rate. On R300k it's now 6.89%, not 7.15%.

But you get instant access, so I use it for short-term liquidity and convenience.

What is the monthly fee approximately?

 

[Tman*]

What is the monthly fee approximately?

It used to be R65pm when I had one.

Putting cash in your access bond would be the better option as mentioned tho

 

[Johnatan56]

What is the monthly fee approximately?

On Page 5:

https://www.fnb.co.za/downloads/pricing-guide/Saving_and_Investments_Pricing-Guide.pdf
There's some other stuff. Quite rude of them not to link it on the normal money maximiser page, had to get the pdf via the pricing guide.

 

[juxta]

It used to be R65pm when I had one.

Putting cash in your access bond would be the better option as mentioned tho

Don’t have a bond yet. I actually want to save up for a deposit for my first home and the money Maximiser account looked good over and above savings of about R2-3k every month that I would transfer into such an account every month if I had to go that route. I’m just not sure if it’s best option

 

[juxta]

On Page 5:
View attachment 638946
https://www.fnb.co.za/downloads/pricing-guide/Saving_and_Investments_Pricing-Guide.pdf
There's some other stuff. Quite rude of them not to link it on the normal money maximiser page, had to get the pdf via the pricing guide.

Thank you, indeed. Would you by any chance know if I need to have specific FNB accounts in order to qualify for the Money Maximiser?

 

[Tman*]

Thank you, indeed. Would you by any chance know if I need to have specific FNB accounts in order to qualify for the Money Maximiser?

`i dont think there is any qualifying criteria.

Look, if you set on getting the best rate there probably are some better accounts out there. As an FNB customer it made sense for me to keep all my funds in one space, and its convenient to manage as such. The zero capital risk and no term associated made it a no brainer for me.

 

[backstreetboy]

Rather invest in a money market fund with Sygnia or Allan Gray etc. You can take the Sygnia Roboadvisor here https://www.sygnia.co.za/roboadvisor/sygnia-roboadvisor.

 

[Johnatan56]

Rather invest in a money market fund with Sygnia or Allan Gray etc. You can take the Sygnia Roboadvisor here https://www.sygnia.co.za/roboadvisor/sygnia-roboadvisor.

Think 10x was the other option that's touted on the forum, but for retirement.

 

[newby_investor]

Rather invest in a money market fund with Sygnia or Allan Gray etc. You can take the Sygnia Roboadvisor here https://www.sygnia.co.za/roboadvisor/sygnia-roboadvisor.

Don't bother with the roboadviser if you know you just need a money market. It'll just take an extra 0.1% in "fees".

But I'd agree - rather go with Allan Gray, Sygnia, Coronation, Satrix, poke around and see who has the best interest rate less fees. It's available with only a few days' notice then, so its' not locked away for a long time. And the returns are generally a bit better than the banks' money-market accounts.

 

[backstreetboy]

Don't bother with the roboadviser if you know you just need a money market. It'll just take an extra 0.1% in "fees".

But I'd agree - rather go with Allan Gray, Sygnia, Coronation, Satrix, poke around and see who has the best interest rate less fees. It's available with only a few days' notice then, so its' not locked away for a long time. And the returns are generally a bit better than the banks' money-market accounts.

Small price to pay to not have to fill in forms manually.

 

[newby_investor]

Small price to pay to not have to fill in forms manually.

You understand what compound interest, right? You can fill in those forms using Adobe Reader anyway, you'd rather skip that and have an increasingly bigger chunk taken out of your returns each month?

Okay then. That's fine, I guess.

 

[backstreetboy]

You understand what compound interest, right? You can fill in those forms using Adobe Reader anyway, you'd rather skip that and have an increasingly bigger chunk taken out of your returns each month?

Okay then. That's fine, I guess.

You can tweak the RoboAdvisor's advice and forfeit it anyway...

 

[zerocool2009]

Looking today at my share saver account .... the FNB money maximizer aint a bad option (even with the R65 monthly fee).

My total dividends in 5 years are less compared to 7.15% in one year

Think I am going to CONVERT !!!!