Start Saving Money Today with a 2-in-one Savings Account OldMutual
Let’s face it things are not looking good for us South Africans. The country lost billions to fraud and corruption, the government increased VAT to 15%. The people that will suffer the most from South Africans latest recession are the old, poor, and struggling middle class.
The last thing on everyone’s mind if you are struggling to make ends meet is to start a savings account.
We all desire to move ahead in life and sometimes to move ahead you have to depend on money and without money, we stuck. The options we have to get money when we need it is to make a loan or to save money from our income.
Saving money will be your best option and some savings accounts do not give you access to your money. If it is a long-term savings account and normally we save for something big like a deposit on a house or for something small like a holiday or that special item we want in our home.
You do not have to start saving money with a big amount. Any amount you can put aside each month no matter how small will do. The two-in-one Savings Account From Old Mutual might be the perfect option for you.
Old Mutual 2-In-One Savings 4 My Goal
From only R170 per month – This saving plan from Old Mutual might be the plan to get you to start saving for the things you cannot afford right now. The Savings plan provides two options.
Long-Term Pocket investment for buying a house or going on a holiday or Short Term Pocket investment which allows you access to your funds when you need it in case of emergencies.
2-In-One Savings 4 My Goal
- A Minimum Contribution Of R170 – The premium split between a Long and Short Term Pocket.
- Contributions under R230: R150 allocated to Long-Term Pocket, a reminder to Short-Term Pocket.
- Short-Term Pocket Withdrawal – Anytime. First two withdrawals per the calendar year from Short Term Pocket free of charge. Charges apply for further withdrawals.
- Long-Term Pocket Withdrawal – Part withdrawals allowed within 5 years. Part withdrawals allowed within 5 years and then every 5 years thereafter. Charges apply.
- Premium Holiday benefit – You can miss up to 6 monthly contributions over the term of your policy.
- Optional Premium Waiver Benefit – In the case of death/disability within first 10 years, a lump sum will be added to your Long Term Pocket. You pay an extra 10% of the long-term premium to cover this option.
- Savings Boosters – You can pay a number of contributions and a specified extra amount will be paid into your Long Term Pocket Savings Boosters after 24, 60 and 110 contributions.
- Savings Top-up – You can deposit extra money into the Short Term Pocket at any time during the month limits do apply.
- Automatic Contribution Increase – The total contribution increases annually. You can opt out of increase for a specific year.
- Funds – Your Long-Term pocket money is invested in the Smoothed Bonus Fund and Short Term Pocket money in the Money Market Fund.
For More Information, Call 0860 60 71 11 or SMS PLANS to 37452
Online: Old Mutual