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Best Interest rate/ Fixed Deposit

Stavros

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Which bank offers the best interest rate for a fixed deposit?
I have seen in the region of 9.25% anyone know of anything better?
 

moonsquad

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A few things need to be addressed here before you can look at interest rates and account offerings.

How old are you? Those under 55 get different interest rates than those who are over 55.

How much capital are you wanting to deposit and for how long? The amount and term will also affect the maximum amount of interest you can get.

Here is a link to some of the offerings from Nedbank: Account Interest Rates
 

SynicalFox

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Which bank offers the best interest rate for a fixed deposit?
I have seen in the region of 9.25% anyone know of anything better?
If you're happy to use Thyme bank:
They have R0 monthly fee and you can earn 9% p.a. on money once it has been in a goal save for 3 months (90 days). If you add 10 day call it goes up to 10% p.a.

This is the best I have seen offered so far (Goal save is like a pocket - you can have up to 10 each with maximum R100 000 in them excluding the interest they accumulate). When you take money out you take the whole amount [Prevents you from skipping the 3 month waiting period].
Interest starts at around 6.5/7% or something

Also they allow R3000 daily deposit for a fee of R4 (yup, it's very cheap just the issue is the limit, since you cannot deposit more than R3000 per day)
 

Nemo415

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A few things need to be addressed here before you can look at interest rates and account offerings.

How old are you? Those under 55 get different interest rates than those who are over 55.

How much capital are you wanting to deposit and for how long? The amount and term will also affect the maximum amount of interest you can get.

Here is a link to some of the offerings from Nedbank: Account Interest Rates
This.. And remember interest over R23000 for the year gets taxed.

Consider a mixture of 1 tax free savings account, 1 term deposits for 5 years, and 1 term deposit maturing less frequently, so you can top up and withdraw.

Also consider doing some small business, which can also boost a portion of your money quickly, taking calculated risks of course
 

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