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General Category => Shares => Topic started by: IceQB on November 08, 2017, 07:50:02 pm

Title: Best/Cost Effective Bank for TFSA?
Post by: IceQB on November 08, 2017, 07:50:02 pm
Which bank trading account is best as per title?
Title: Re: Best/Cost Effective Bank for TFSA?
Post by: Patrick on November 09, 2017, 08:53:51 am
I think most here wouldn't use a bank for a tax free savings account, but rather a stockbrokers tax free account. There are really only two I can recommend thanks to their low costs. They are ABSA stockbrokers (not the ABSA bank TFSA) and Easy Equities.

More details here: http://investorchallenge.co.za/a-newbies-guide-to-investing-on-the-jse/
Title: Re: Best/Cost Effective Bank for TFSA?
Post by: IceQB on November 13, 2017, 08:33:07 pm
Thanks Patrick
Title: Re: Best/Cost Effective Bank for TFSA?
Post by: gcr on November 13, 2017, 09:30:40 pm
If you already have a stock broking company which you use, you really need to talk to them regarding the TFSA type accounts. I have incurred some R 6.90 in charges which were brokerage fees and hold both STXIND and DBXWD which are doing rather nicely. I review my investments monthly and on projection on interest income for the tax year and I see that I will exceed the ceiling for interest then I move funds to my TFSA account
However I don't see TFSA as a store of wealth especially with our high inflation, falling off interest rates and negative exchange rates we as Rand denominated investors are becoming poorer keeping the funds in SA :'(