Comments on: Standard Bank doesn’t want my (future) money

By: Jacques du Toit

Jacques du Toit — Thu, 15 Apr 2010 17:48:09 +0000

Hi Andrew

I just came across this site after Googling the interest rates on Standard Bank’s Marktelink account. It’s 2010 obviously, but it is shocking to see how far these interest rates posted on this site have actually fell. I have R97 000 in my MarketLink, and I currently get 4.75%. If I go over R100 000 and let’s say all the way to R10mil, the interest rate jumps to 5.00% and stays that way. Shocking.

By the way, the R97K is also just a short term money facility for my business. If you have a better option, please let me know, as I am all ears.

By: Jacques du Toit

Jacques du Toit — Thu, 15 Apr 2010 17:47:36 +0000

Hi Andrew

By the way, the R97K is also just a short term money facility for my business. If you have a better option, please let me know, as I am all ears.

By: Nicholas Czardas

Nicholas Czardas — Wed, 16 Apr 2008 12:56:15 +0000

I can help Delia for free if she is in Durban/Highway/Kloof/PMB areas

By: delia gratwicke

delia gratwicke — Thu, 28 Feb 2008 11:50:20 +0000

how do i go about oppening a credit card to help me

By: JESSICA

JESSICA — Mon, 25 Feb 2008 07:34:06 +0000

WILL YOU FINANCE MY NEW BUSINESS EVEN THOUGH I DONT HAVE A START UP CAPITAL

By: Rowan

Rowan — Tue, 15 Jan 2008 10:26:56 +0000

Once again I have much respect for Richard Branson who is challenging the pitfalls of this country head on. The Virgin credit card is not only FREE (ie. no annual fees), but it also offers an 8.5% annual interest rate on a credit balance. Not that bad at all considering you don’t need a minimum balance of R5000 (Standard Bank) or EVEN R20 000 (Nedbank) to earn interest. In fact the most interest you will receive on the average Money Market account is around 9%. So for the average person it makes sense to go with a simple Virgin Credit card. Of course if you are wanting this as a long term investment and are not wanting the money too easily accessible, you may want to cut up the card so as to avoid itchy fingers!!!

By: Dylan

Dylan — Mon, 03 Dec 2007 14:59:19 +0000

Yeah, the banks really don’t seem to take the life-time value of the customer into consideration. Particularly referring to young grads etc. I ran into this about a year ago.

By: Des

Des — Mon, 03 Dec 2007 11:29:19 +0000

Just to mention that my visit to Nedbank revealed that for under R20 000, not only is no interest paid but account maintenance costs will be incurred. You will have to pay the bank for the privilege of them using your money for their interest.

Des

By: Des

Des — Fri, 30 Nov 2007 07:43:00 +0000

Go Andrew, this is the kind of thing that needs pushing – I think Nedbank’s figure for no interest is R20 000 – I will find out today because I will be interacting with them about this. The banking industry seems to have as their modus operandi – I wonder how we can get some more money out of our clients without providing them with a service!!

By: Andrew

Andrew — Thu, 29 Nov 2007 13:12:31 +0000

I like what you raise about the inflation/interest issue. I was thinking exactly the same thing this week – raising interest rates are intended to curtail consumer spending, but could the reserve bank not do more to tackle the problem by encouraging saving? Perhaps tax incentives on savings (instead of taxing interest income) and issuing some bonds with ridiculously high interest rates (only accessible to individuals).
Unlikely that it would happen, but it’s nice to dream.