Investment

[rozzer]

Hi all
Maybe someone can advise about investing a substantial amount of money.
What I want is :-
An account similar to the Money Market which can earn a reasonable interest
One I can deposit and withdraw at will from (without having to pay broker fees)
Not a fixed term
Can be fixed interest rate
Can be linked to other accounts i.e. Cheque account
Option of signing power for spouse
Best institute to use, bank etc
I need to be able to draw on a monthly basis an X amount if I should need too.

Maybe a tall order but your advice appreciated

Regards
Rozzer

[HR Solutions]

Capitec has a very interesting option at the moment. You open up the account and can have 5 linked accounts. The one is a higher interest rate and you can access it anytime. By access means you can transfer money to the other account and pay from that one. You cannot pay from the "investment" account. When you say "reasonable" interest .... it is reasonable but you cannot get higher because of these criteria.

[Houses4Rent]

Unit Trust funds maybe, the preserving low risk kind (pretty much like money market, but probably better returns.)


I used Coronation Jibar

[rozzer]

Thanks Guys

I will look into both and come back to let you know the outcome

Regards
Rozzer

[wynn]

Also check out the top40 Satrix ETF's

[Pap_sak]

because of your terms - you not "investing" at all - just saving. And because of that only money market accounts and savings accounts will be suitable.

For investing you need at least a three year view, but really it should be much longer.

As to plain, quick access savings - capitec 's is around 4.5% - so around inflation.

On a side note I invested in Capitec shares - just over a year ago and so far am up 180% - off the 210% I was, but happy never the less. But that's investing. As soon as you can, stop saving and start investing.

[Dave A]

As to plain, quick access savings - capitec 's is around 4.5% - so around inflation.

On a side note I invested in Capitec shares - just over a year ago and so far am up 180% - off the 210% I was, but happy never the less.

That reminds me of a comment many years ago, when the then head of Old Mutual was asked about the rising star of the time, Liberty Life.

He declined to comment on the quality of their investment products, instead pointing out that they were a very good share.

[HR Solutions]

s to plain, quick access savings - capitec 's is around 4.5% - so around inflation.

I think if you check it out - the one linked account is actually closer to 6%

[Pap_sak]

I think if you check it out - the one linked account is actually closer to 6%

4.75% is the most you going to get for instant access. Fixed term depends on how much for how long - max 9.25%

As far as I can see.

[HR Solutions]

4.75% is the most you going to get for instant access. Fixed term depends on how much for how long - max 9.25%

As far as I can see.

Sorry my mistake - you are quite right. I was confused.

[rozzer]

Hi again

Thanks for your replies.
My research so far has left me still unsure as my account still seems to be the best up to now and that is a flexi fixed deposit account
which gives me 5.60%, I can make 2 withdrawals a month, add to it as much or whenever i need too. it is renewed every 3months and
or you can cancel it, no broker fees.

Capitec are reluctant to give me details regarding:- A 60month investment giving me 9.27% (i think) interest paid to a default account I must open (with charges) If i have to draw from my investment say after 2 years they will charge me to unlock it but they are reluctant to tell me what the charges would be ....still waiting for their phone call. You can only do transfers via internet or at the bank, (no ATMs)

I left the money market as my option paid higher dividends, Unit trusts are really not my cup of tea,

My broker is pushing me to go with him for obvious reasons but I think I will stay where I am for now.

Thanks everyone and should there be an improvement or I find a better deal I will let you know

Regards
Rozzer