Short term investment options in south africa

Maya Fisher-French 03 Feb We need to invest as from February until November.

Investment Solutions | Old Mutual Savings & Investments

Please advise on how to invest in this kind of situation. As this is a short-term investment your best option is a bank account.

There are many bank accounts that provide for collective savings, but the important thing to remember is that the longer you can leave the money in the account, the higher the interest rates. The products require three signatories to open the account, of which 2 signatories are required to withdrawal or place notice, but Nedbank says it is flexible and the group is able to choose their requirements for transacting provided they meet or exceed the pre-mentioned minimums.

All signatories will require verification in terms of FICA ID and proof of residence , irrespective of the product choice. NedTerm sounds like the best option for you.

A minimum of two signatories is required to open an account. A minimum of two signatories is required for withdrawals from the account.

A minimum monthly deposit of R is required. Interest is fairly low. Monthly Lucky Draws on Absa Club accounts: What you need to open a collective account Valid South African identity documents i. Proof of residential address.

If one does not exist in writing, a written declaration obtained in the branch is required. The declaration must be furnished by all the mandated officials authorised to establish a business relationship on behalf of the entity.

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