The JSE and finance forum for South Africa
General Category => Shares => Topic started by: yozzi on November 25, 2013, 06:03:16 pm
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Where would you invest a large amount for a short term investment ie a fixed deposit? Looking at 3-6 months so would it be best to stick it in a bank deposit or are there any other products on the market?
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If you can - invest it with a bank for 6 months, but check what interest rates you can get, I currently get 5.15% on my 6 month FD with my bank,but you may be able to get more at say Capitec - just see what you can get
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As advised by gcr.
Check also Nedbank Rates (http://www.nedbank.co.za/website/content/interrestrates/local.asp)
These:-
Nedbank MoneyTrader
EasyAccess Deposit
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Many thanks guys! Capitec looks good with 5.75% for 6 mths and 6% if you keep it there for 7-9 mths
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Many thanks guys! Capitec looks good with 5.75% for 6 mths and 6% if you keep it there for 7-9 mths
That's not bad, pretty much the same as the inflation rate. What sucks though is even though you're not making any money (relative to inflation), the taxman will still want to take it's share of the interest at your marginal rate...
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Many thanks guys! Capitec looks good with 5.75% for 6 mths and 6% if you keep it there for 7-9 mths
That's not bad, pretty much the same as the inflation rate. What sucks though is even though you're not making any money (relative to inflation), the taxman will still want to take it's share of the interest at your marginal rate...
There is a rebate on interest earned and in my age category it is R31,000 p.a. so interest earned is not at marginal tax rates
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Many thanks guys! Capitec looks good with 5.75% for 6 mths and 6% if you keep it there for 7-9 mths
That's not bad, pretty much the same as the inflation rate. What sucks though is even though you're not making any money (relative to inflation), the taxman will still want to take it's share of the interest at your marginal rate...
There is a rebate on interest earned and in my age category it is R31,000 p.a. so interest earned is not at marginal tax rates
Ah yes, i forgot!
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Rebate or no rebate, one should be taxed on actual earnings and not nominal earnings. Off course that would never happen. :wall:
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Rebate or no rebate, one should be taxed on actual earnings and not nominal earnings. Off course that would never happen. :wall:
What do you mean ?
There is a rebate on interest earned and in my age category it is R31,000 p.a. so interest earned is not at marginal tax rates
>65 =R34500 (2013/14 tax year)
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Coronation Strategic Income Fund