Absa Bank, which is now a subsidiary of Barclays, offers South African clients with affordable and competitive banking solutions. In addition to transactional banking services, the bank offers simple investment solutions.
The Absa Prime Linked Deposit Account is a single deposit account with a specific deposit period. The interest rate on this account is linked to the prime interest rate.
Account holders can choose a deposit period of 6, 12, 18, 24 or 36 months.
Interest earnings can be received monthly.
What benefits are offered by the Absa Prime Linked Deposit Account?
Most people think that it costs a lot of money to start investing. The reality is that you can start investing with any amount. The Absa Prime Linked Deposit Account has a minimum deposit requirement of R1000. There are also no limits on how much you can invest in the account.
Your initial capital amount is guaranteed.
With the Absa Prime Linked Deposit Account you have control over your investment. You can choose for how long you want to invest, as well as how much money you want to invest. You have more financial control over your financial future.
Part of your investment can be used to secure an overdraft or loan.
You have an option to reinvest your money on maturity. This way you can earn even more interest in the long run.
As an account holder, you have access to Absa online, cellphone banking as well as telephone banking.
Before you decide to invest, you must be realistic about risk. It’s also important to invest with a plan. Think “quality” over “quantity”.
As a new investor, seek the advice of a registered financial advisor, so that you don’t make hasty decisions and you are well informed of financial decisions.
Absa has a range for financial advisors available to provide you with all you help you need for savings and investments.
Contact Absa by calling: 011 350 4000 or 0860 111 515