First National Bank has urged senior investors to seriously consider investing some of their money in longer-term fixed deposits.
Robert Keip, the bank's head of investments, says: "A large number of seniors live off the fixed income from bank investments products.
"Three years ago, interest rates were at a low of 6 percent, 5 percent and seniors felt the difficulty of making ends meet from one month to the next," Kiep says.
"And with interest rates now going down again, investors who want to protect their income should diversify their investments." he says.
"They should do this by moving some of their monies into longer-term fixed deposits and by so doing, take full advantage of the current higher returns," Keip says. - Isaac Moledi