/ 18 June 2010

Capitec offers best rates

Sunil wants to know where to invest his money in the short term.

Maya replies:
For such a short period of time a cash investment would be best.

You will find that fixed deposits will offer the highest rate, so if you know you will not need the money then consider a six-month fixed deposit.

It will also depend on how much money you have to invest. Usually the higher the amount the better the rate. However, Capitec encourages saving by offering 7% on its daily call account for amounts up to R10 000. You can withdraw this money at any time. FNB EasyPlan also offers the same competitive rate for daily call.

If you have a larger amount, you can invest with Capitec in a six-month fixed deposit at just over 7%. After a quick comparison with other bank’s rates, that is the best you will get.

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