NEDBANK has taken a step further in encouraging saving by introducing its own retail savings bonds to its existing and potential clients.
The bonds are part of Nedbank's strategy to build a savings and investment culture.
The minimum capital amount an individual can invest in Nedbank Retail Savings Bonds is R1000, and there is no maximum investment limit.
Investors have the option of having their interest paid out monthly, half yearly or on expiry of the investment.
Individuals can choose the period of investment that suits their needs and can choose to live off the interest generated, while the capital remains intact.
Investors stand to gain from a great competitive fixed interest rate with earnings up to 8,75percent for a period of two, three or five years. Bonds are only available to individuals and not corporatives at present, and cannot be bought in instalments.
Investors can buy the bonds at Nedbank branches nationwide.
Interest earned is then paid electronically into the investor's bank account, providing a secure and convenient way of transacting.
"This is one of the safest and smartest ways to invest.
"With the current climate of low interest rates, people are looking for innovative options to investments which offer them guaranteed returns through favourable rates, capital guarantee and no fees charged," said Anton de Wet, Nedbank managing executive for personal banking and client value management.
According to De Wet, in challenging times the monthly interest could provide an additional income for clients who have seen interest decline of income over the past 18 months.
Bank's new savings plan
NEDBANK has taken a step further in encouraging saving by introducing its own retail savings bonds to its existing and potential clients.
The bonds are part of Nedbank's strategy to build a savings and investment culture.
The minimum capital amount an individual can invest in Nedbank Retail Savings Bonds is R1000, and there is no maximum investment limit.
Investors have the option of having their interest paid out monthly, half yearly or on expiry of the investment.
Individuals can choose the period of investment that suits their needs and can choose to live off the interest generated, while the capital remains intact.
Investors stand to gain from a great competitive fixed interest rate with earnings up to 8,75percent for a period of two, three or five years. Bonds are only available to individuals and not corporatives at present, and cannot be bought in instalments.
Investors can buy the bonds at Nedbank branches nationwide.
Interest earned is then paid electronically into the investor's bank account, providing a secure and convenient way of transacting.
"This is one of the safest and smartest ways to invest.
"With the current climate of low interest rates, people are looking for innovative options to investments which offer them guaranteed returns through favourable rates, capital guarantee and no fees charged," said Anton de Wet, Nedbank managing executive for personal banking and client value management.
According to De Wet, in challenging times the monthly interest could provide an additional income for clients who have seen interest decline of income over the past 18 months.
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