In this guide, we will show you how Absa investment work in South Africa.
Did you know that you can invest with Absa bank for a duration as short as eight days up to five years?
Absa bank South Africa allows you to put in place your investment goal by providing suitable and affordable investment plans.
What to Know Before You Invest With Absa In South Africa
Here are a few things you need to know regarding Absa investment
- When you invest with Absa South Africa, your interest rate is fixed for the entire term of your investment.
- Absa investment interests can be paid on maturity, monthly, quarterly, annually, or biannually.
- The minimum amount to invest with Absa south Africa is R1 000
- You will qualify for bonus interest if you are over 55 years and invest up to R100 000 for 12 months or more.
How To Invest With Absa In South Africa
Below are the two ways in which you can save and invest with Absa South Africa:
- R50-R1 99 investment
There is a low-risk investment plan.
The tax-free savings account gives you immediate access to your money and is mostly a short-term investment plan.
The Absa stockbrokers and portfolio management invests and trades in equities and exchange-traded funds locally and offshore.
You can invest in tax-free savings account for local and offshore exposure.
- Over R2 000 Investment
With over R2 000, you can invest in Absa select equity fund or the Absa prime equity fund.
This is a high-risk investment that invests in JSE-listed equities and large-capitalization shares.
The Absa global value feeder fund is also a high-risk investment that focuses on securities of companies worldwide.
With this investment, you will be required to pay a monthly deposit of R200.
What Is The Absa Money Interest Rate?
Here are the various fixed deposit interest rates for Absa investments:
R1 000 to R100 000 Investment
- 3% interest for 8 days
- 3.1to 3.9% for 1- 6 months
- 3.95% for 7- 11 months
- 4.85% for 12 months
- 4.20% for 13 months
- 4.95% for 18 months
R100 001 to R999 999.99 investment interest
- 3% for 8 days
- 3.30-4.05% for 1 t0 6 months
- 4.1% for 7-11 months
- 5.35% for 2 months
- 4.70% for 13 months
- 5.45% for 18 months
This is generally everything you need to know about how Absa investment work in South Africa.