Instant access investment advice needed

[The legal way]

Hi all,

Me and my SO are looking at investing between R1000-R2000 and started looking around at investment options.
Currently it seems a CC would not be feasible as most have charges of between R40-R100p/m.

Basically we just need an option of instant access to funds, or no more than 7-days waiting period.
I understand that with this option interest on most offerings would be lower, but currently this is our requirement.

Would someone please be able to offer some insight or advice into options that currently exist?

Feedback would be greatly appreciated.

 

[VG008]

There are numerous options available to you. Each bank has there own products, so go browse there websites.

I would suggest Capitec.
You will get 5% interest, but you do pay R4.50 monthly fee which isn't much.

 

[supersunbird]

VirginMoney Credit Card has no fees but interest rate is around 3%.

As said above, Capitec debit card has R4.50pm fee and gives 4.25 to 5% depending on the amount.

 

[Gtx Gaming]

capitec would be your best bet.

FNB smart cheque account savings pocket is 3.4%( gold and plat is about nothing!) , Though there is high monthly account fee, but you can move all your banking to them , then its worth while choice i would think.

 

[Hendrix]

what risk are you willing to take? What time period?
Why not look at a unit trust that suits your risk appetite, you can sell within 7 days easily.