/ 9 March 2011

The best interest for my lump sum

Bernhard: We sold a property and I am looking all over for a website where I can compare up to date interest rates on six or 12 month fixed deposits or something of this kind.

Maya replies: You can look at comparison sites like www.justmoney.co.za and www.thinkmoney.co.za.

For large amounts of money over R500 000 I have found Investec very good. You don’t have to have a bank account with them to invest in their cash funds. Money market unit trusts also provide good rates but watch for any upfront fees (Absa sneaks one in).

If you can invest for a longer period there are also some very good options:

  • RSA Retail Savings Bond (see related articles) offers excellent rates if you invest for two years.
  • Marriot Income Fund which provides an income over longer periods of time.
  • Fedbond offers excellent rates for pensions for five year investments.

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