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Author Topic: Short term lump sum investment  (Read 15717 times)

yozzi

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Short term lump sum investment
« on: November 25, 2013, 06:03:16 pm »
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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gcr

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Re: Short term lump sum investment
« Reply #1 on: November 25, 2013, 11:37:44 pm »
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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Moonraker

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Re: Short term lump sum investment
« Reply #2 on: November 26, 2013, 10:38:03 am »
As advised by gcr.

Check also Nedbank Rates
These:-

Nedbank MoneyTrader 

EasyAccess Deposit 
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yozzi

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Re: Short term lump sum investment
« Reply #3 on: November 26, 2013, 01:46:08 pm »
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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Patrick

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Re: Short term lump sum investment
« Reply #4 on: November 27, 2013, 07:36:03 am »
Quote from: yozzi on November 26, 2013, 01:46:08 pm
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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gcr

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Re: Short term lump sum investment
« Reply #5 on: November 27, 2013, 09:24:21 am »
Quote from: Patrick on November 27, 2013, 07:36:03 am
Quote from: yozzi on November 26, 2013, 01:46:08 pm
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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Patrick

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Re: Short term lump sum investment
« Reply #6 on: November 27, 2013, 09:38:10 am »
Quote from: gcr on November 27, 2013, 09:24:21 am
Quote from: Patrick on November 27, 2013, 07:36:03 am
Quote from: yozzi on November 26, 2013, 01:46:08 pm
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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Bloodburner9000

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Re: Short term lump sum investment
« Reply #7 on: February 14, 2014, 11:53:20 am »
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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Moonraker

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Re: Short term lump sum investment
« Reply #8 on: February 14, 2014, 12:47:43 pm »
Quote from: Bloodburner9000 on February 14, 2014, 11:53:20 am
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 ?

Quote from: gcr on November 27, 2013, 09:24:21 am
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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Neil

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Re: Short term lump sum investment
« Reply #9 on: February 18, 2014, 04:27:11 pm »
Coronation Strategic Income Fund
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Disclaimer:The views/opinions expressed in this post are that of the writer and are not to be interpreted as advice, nor as a indication to buy/sell any investment or equity. The writer will not be held liable for any profit or loss resulting from reading of this post by the reader in any form.
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