ACCOUNTANT EXPLAINS: Is CAPITEC the BEST place for 6 Month Investment | Personal Finance

10K Investment for 6 months Under the Microscope
In this series we are looking at South African Banks and what they pay you for your 6 month investment. Looking at 10,000 investments for 6 months in South Africa 2023.
We are on a quest to find the best banks in south africa in your personal finance journey.
Which will also highlight some of the worst banks in south africa.
We want to find the best bank accounts in south africa which pays the most interest and has the lowest fees. This series will highlight the best banks in South Africa 2023.
@accessbanksouthafrica
@firstnationalbankgh3729
@AbsaBankLtd
@BidvestBank
@bankzero8902
@TheCapitecBank
@nedbank
@StandardBankGroup
@standardbanksa
@investec
@TymeBankza ​

[@learningnetwork6384]

Thank you for educating. Quick money returns are dangerous and people like to be victimized all the time. They won't want to invest with the bank

[@BizWithBruce]

Yes if it sounds too good to be true, then it generally is. Which is why I review Banks, just solid investments, that will take time and you don't risk your capital

[@mobilegamingza]

8.15% for a 6 month. And I've checked other 6 month investment rates ... none came close

[@ConcaveBucket]

Amazing addition to a welcome series! Keep up the great work, Mr Coach

[@BizWithBruce]

More to come!

[@WiseRidesAuto]

Hi Thank you very much. have a question.. is Tymebankza tax free fixed savings?

[@BizWithBruce]

Hi, savings are always tax free, it is the interest on the savings that might get taxed. which is where some people might want a tax free savings account, however most savings will never get high enough interest on the savings to pay tax anyway even on normal savings accounts. I do have videos on my channel explaining the tax free savings accounts if you are serious about understanding how they work, then you should go and watch them all.

[@MikeHunter-w5b]

Hi is your money completely safe in a fixed deposit

[@BizWithBruce]

That is a good question. If your money is deposited in a registered South African bank it is insured up to R100,000

[@thabangmahlangu4964]

Hy how much interest R500 investment for 6 months

[@BizWithBruce]

Currently it would be with TymeBank for 8.83% per year for 6 months fixed