Save, Save, Save Your Money:
I cannot stress enough how important it is to start a savings account to save money for future events or for that dark rainy day that might lay ahead. The task of starting a saving account will look like it will not benefit you now and add the fact that there might not be enough money at the end of the month or it can also be that your wants are more important now.
15 years ago I started saving about R105 a month the last year of the savings account I paid about R243 pm. The savings paid out about R45 000. When I was informed that the 15 years is up and that I can now have the money or reinvest, my first thought was that I should have saved more money. R45 000 is not much after 15 years saving. You cannot buy a new car with it, it will only cover three years school fees for one child. I decided to reinvest the money.
The point that I am trying to make is, do not look back 15 or 20 years and think if I only open a saving account when I was younger.
Standard Bank Fixed Deposit Investment Account:
Start your saving account today with a Standard Bank Fixed Deposit Investment Account. The interest rate is fixed and your money is safe and guaranteed. All you need is a minimum deposit of R1000. You get an interest rate up to 8.80% and you can access the money when the account matures.
How To Qualify For A Standard Bank Fixed Deposit Investment Account:
- You must have a deposit of R1000
- You are a South African citizen
- Or you have a valid passport or permit
Benefits Of The Standard Bank Fixed Deposit Investment Account:
- You choose how long you want to invest from 33 days to 5 years
- Interest on the account is paid monthly, quarterly, annually or when the account matures
- Once you opened the account you cannot add more money to it, you can either open another account or you can invest in a different investment account type
- If you are 55 years of age or older, or are a Standard Bank Consolidator customer, you qualify for an extra 0,50% per annum interest on an investment of 12 months or longer for balances under R 100 000
What You Need:
- Your ID or Passport book
What It Will Cost You:
- No management fees
- A cash deposit fee
- Early redemption fee if you access your money early
How To Apply:
Visit your nearest Standard Bank branch or visit This Link to complete the form.