Monthly saving - Where to go....

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Devill

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Hello All

I am looking for some advise on the following:

I want save / invest around R1000 in a "money builder" plan / account.

The only thing is that I need to have access to the money within 6-9 months if I need be. (So no 12 month set investment:()

Where would I get the best returns for this tipe of savings plan and at which bank / institution?

I am also open to other suggestion.

Any advise on this matter would be much appreciated.
 
Pop it in a credit card if you need easy access, i think the CC gives you the best interest rate short term.
 
Bidvest offers 6.3% nominal on a 121 day notice deposit account.
Capitec is currently offering 6% on a normal savings account (but I believe the max is R10k per account).
Money Market Unit Trusts offer marginally less than the above, have higher minimum deposits and are a pain to withdraw from, but are ok for a very safe investment.

Obviously some form of equity is probably going to give better returns in the long term, but if you need to withdraw in a hurry it can be pot luck as to whether you actually make or lose money at the time.
 
killadoob said:
Pop it in a credit card if you need easy access, i think the CC gives you the best interest rate short term.
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Virgin money offers 3%, the others no longer pay interest on excess funds (or something silly like 0.25%)
 
killadoob said:
Pop it in a credit card if you need easy access, i think the CC gives you the best interest rate short term.
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Definitely not if you're a Standard Bank client!

All Standard Bank CC card types in credit:
Up to R9 999 0,40%
R10 000 to R24 999 0,55%
R25 000 to R49 999 1,55%
R50 000 to R99 999 2,05%
R100 000 and above 3,30%
Platinum Credit Card - all balances 3,30%

Capitec offer 6% on a savings account <R10000 last time I checked.
That makes the big four look pathetic in comparison.
 
Thanks for all the replies thus far.

Anyone know of a good set / fixed deposit investment that I can deposit R1000 / month into? I do not have a lump sum to invest thus I will only be depositing a set monthly fee into the "instrument".

Thus far I think ill just stick it into a Capitec savings account.
 
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Have you considered Satrix?

Minimum R350/month investment, and the returns are potentially a lot better than a conventional savings/investment account. It is a more longer-term type of investment, but well worth it IMHO.
 
srothman said:
Have you considered Satrix?

Minimum R350/month investment, and the returns are potentially a lot better than a conventional savings/investment account. It is a more longer-term type of investment, but well worth it IMHO.
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Tell me more o wise one :D

I am looking to do this over the next 4 years so it is a long term thing and I will deposit a minimum of R500 / month for any given month but more likely to deposit R1000 / month.
 
srothman said:
Have you considered Satrix?

Minimum R350/month investment, and the returns are potentially a lot better than a conventional savings/investment account. It is a more longer-term type of investment, but well worth it IMHO.
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+1 for Satrix
 
Always check the fees involved, this is always never included or factored in when they mention your returns.
Everybody has fees (except the retail savings bonds) and this can be initiation, monthly, annually, broker, admin etc.
They give on the one side and take on the other side.
 
Sanlam Liquid account for money market interest rates and instant access to funds. Can even add a debit card to your account. Otherwise you can put it into a collective investment (unit trust) and also have access with a bit of notice.
 
I suggest look at splitting it 50/50 between SATRIX 40 and SATRIX DIVI.

Check out the fund performance and details on the website, www.satrix.co.za

With interest rates being what they are, it really isn't going to benefit you to just slap your money in an account and rely on the interest you get. You want something that is actively managed and looked after.

The only reason I recommend Satrix is because I know the products, and they meet my requirements. I honestly don't know the AG products, or any others, so hence me not commenting on them. They might be better, or not?

EDIT: Also, your money is available on relatively short notice, and you can choose how much you want to have, i.e. x% of your total investment, or a specific Rand value.
 
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WebWanderer said:
You may also want to consider including RSA Govt. Retail Bonds in the mix -- minimum R1000 / per investment, good returns, zero fees, low risk, but a minimum 2-yr investment period. https://secure.rsaretailbonds.gov.za
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Thanks, and I also thought of this as a friend of mine told me about it a while ago. Will do a bit of reading on it tonight.

Mbuzi said:
Go for the SATRIX divi or Allan Gray Balanced Fund. IMHO
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I will do some reading on both tonight and have a look at which is the better return / lower fees /etc etc.

srothman said:
I suggest look at splitting it 50/50 between SATRIX 40 and SATRIX DIVI.

Check out the fund performance and details on the website, www.satrix.co.za
Click to expand...

Thank you! I have quickly brushed through the site but will go read in more detail tonight.
 
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