Now that interest rates have dropped, don’t you wish you had locked in your savings at the highest possible rate? You still can … and get the best of both worlds: high rates and maximum flexibility!

Get the best of both worlds

While there is much celebrating over the declining interest rates by those who are debt-ridden, for many of us every rate cut slices a little more off our reserves.

The largest section of our generation lives off the interest we earn on our investments, so every time Gill Marcus lowers the interest rate she is lowering our standard of living. Some of us might even be forced to dip into our capital to make ends meet.

Mike Stedman, Senior Product Manager for Funding and Savings at Nedbank, says it is important not to be taken by surprise when interest rates fall. ‘The economy moves in cycles – bad times don’t last, just as good times don’t.’

The principle is to make provision for lean periods when the going is good. The best way to do this is to grow your capital by reinvesting some of your interest income.

The second strategy is to peg your interest rate as high as possible, instead of investing in a vehicle with a fluctuating interest rate (such as a money market account).

Some economists are predicting further rate cuts in the near future, so start shopping around for the best interest rate now.

With Nedbank’s EasyAccess Deposit account you’ll get some of the highest interest rates available right now. ‘It’s our secret weapon,’ admits Mike, ‘as comparisons with other offerings show that this product has one of the highest interest rates, with the greatest flexibility.’

The EasyAccess Deposit gives you a fixed and guaranteed rate for the term of the deposit (3, 6, 12 or 18 months). At the same time it allows you to access 50% of your investment with just 24 hours’ notice (no questions asked – no penalties charged). It’s like having a savings account at fixed-deposit rates!

Five reasons to make EasyAccess Deposit part of your investment portfolio:

• You get the best rates available – as much as 5,25% pa – for investing as little as R2 000.
• This top rate applies to the 18-month investment term. The 12-month term offers 5,20% pa.*
• You get peace of mind knowing that you can access 50% of the deposit with just 24 hours’ notice. No fees charged, and no questions asked!
• The rates don’t fluctuate – they are guaranteed for the entire term of your investment, irrespective of whether you access 50% of the original capital.
• Your capital is secure.

* Interest rates are correct at the time of going to press, but are subject to change without notice.