The best interest rate for 12 months fixed term investment

[Candystore]

The best interest rate for 12 months fixed term investment

I have already exhausted the TymeBank R100K investment ceiling to earn the 7/8% interest rate.

What are the best alternatives to get as high an interest rate as possible? [Yes, I do understand that markets have picked up and investments are growing, so fixed rates are much lower.]

 

[mr_norris]

According to ratecompare, it's bidvest. Not sure when it was last updated, either this month or last month.

 

[Candystore]

According to ratecompare, it's bidvest. Not sure when it was last updated, either this month or last month.

Thanks. Never even considered them.

 

[Candystore]

According to ratecompare, it's bidvest. Not sure when it was last updated, either this month or last month.

I wonder why TymeBank does not feature there at all??

 

[mr_norris]

I wonder why TymeBank does not feature there at all??

Those are fixed deposits, Tyme isn't a fixed deposit you see.

 

[TheChamp]

African Bank has the best options for non fixed accounts. Fixed deposit only works if you have a decent lump sum to put in there, otherwise I would take a 4% over a 5% if it means I can add money anytime I want to.

 

[mr_norris]

African Bank has the best options for non fixed accounts. Fixed deposit only works if you have a decent lump sum to put in there, otherwise I would take a 4% over a 5% if it means I can add money anytime I want to.

Yes and no. AB goes up to 4.25%. Tyme is 6. While it takes 3 months(ish) to get to 6%, there are things you can do to make sure you're always on that 6%, while still being able to draw / add money (up to 100k).

 

[TheChamp]

Yes and no. AB goes up to 4.25%. Tyme is 6. While it takes 3 months(ish) to get to 6%, there are things you can do to make sure you're always on that 6%, while still being able to draw / add money (up to 100k).

I said that about AB on the knowledge that he has already exhausted the Tymebank option.

 

[mr_norris]

I said that about AB on the knowledge that he has already exhausted the Tymebank option.

Ah then you are quite right

 

[StrongestAvenger]

The best interest rate for 12 months fixed term investment

I have already exhausted the TymeBank R100K investment ceiling to earn the 7/8% interest rate.

What are the best alternatives to get as high an interest rate as possible? [Yes, I do understand that markets have picked up and investments are growing, so fixed rates are much lower.]

Excuse my ignorance. Am I correct if I assume that the interest rate is on the GoalSave account only thus zero interest on the Everyday account?

 

[3WA]

Excuse my ignorance. Am I correct if I assume that the interest rate is on the GoalSave account only thus zero interest on the Everyday account?

Yup.

 

[StrongestAvenger]

So if the GoalSave is capped at R100k where does the interest go if you deposit that amount

 

[backstreetboy]

So if the GoalSave is capped at R100k where does the interest go if you deposit that amount

R100k excluding interest.

 

[zerocool2009]

So if the GoalSave is capped at R100k where does the interest go if you deposit that amount

It add's up within the goalsave ! But the capital amount is capped at R100 000 (to insert)

 

[StrongestAvenger]

Oh ok.