Get greater flexibility and enhanced returns with Standard Bank

You can still realise your dreams in this difficult economic environment

Standard Bank continues to lead the way in financial services, offering innovative savings and investment strategies that help South Africans achieve their financial goals, even in the face of challenging economic conditions. Surrounded by rising living costs, the energy crisis, high interest rates and ongoing uncertainties, many investors are concerned about staying on track with their savings contributions and ensuring their investment portfolios continue to grow to meet key life milestones and goals. However, those banking with Standard Bank can rest assured that their money is secure.

Thopi Mhloli, Head of Savings and Investments at Standard Bank, says many clients are, understandably, concerned about their current financial positions and the impact of the macroeconomic environment over time: “South Africans are seeking ways to mitigate against the impact of macroeconomic factors. High inflation and the general rise in the cost of living have hit citizens and affected their hard-earned savings, such that many are looking for clever ways to lessen the blow and stay on track to meet their goals, whether that is purchasing a first home, funding a child’s education or retiring comfortably.”

There are opportunities available for proactive savers and investors, despite these concerns. High interest rates are working in favour of savers, especially those with larger savings pots. Beyond attractive returns, Standard Bank’s savings and investment solutions offer peace of mind with capital protection and the benefits of compound interest, ensuring savings work harder the longer they’re invested. 

Cashing in on higher interest rates and market dynamics

Those who do have the ability to save and invest are in a fortunate position currently, as interest rates are helping to accelerate the growth of people’s savings, according to Mhloli. This enables people to build towards their savings goals faster over a shorter period of time because of the high interest rates earned. As it stands, many interest-bearing accounts are offering more than 7% interest on money invested.

Mhloli adds that there is an opportunity for those who have the ability to save and invest to leverage higher interest rate returns by considering Standard Bank’s savings and investment solutions. These solutions are structured and flexible enough to adapt to each client’s unique circumstances, enabling them to reach their goals.

Investment options to suit your circumstances

Many clients are considering Standard Bank’s MoneyMarket Select investment account as an option to either start or continue their savings and investing journey. One of the driving factors is that Standard Bank offers one of the most competitive interest rates in the market. It is worth noting that this savings vehicle may, however, require a sizable amount of capital, with a minimum opening deposit of R100 000, to benefit from these competitive nominal interest rates in the market (up to 8.70%*).

Beyond competitive interest rates, Standard Bank provides clients with a full suite of savings and investment experts for comprehensive financial planning. The MoneyMarket Select investment account is a zero-fee account, ensuring all invested funds grow towards achieving financial goals. This popular savings solution provides predictability by guaranteeing your money is invested against any loss while offering competitive returns. Additionally, Standard Bank’s MoneyMarket Select account offers the flexibility to save additional money or withdraw funds at any time — without penalties. Clients also have access to a wide range of short-term and long-term savings and investment solutions, capital protection, and advanced budgeting and money management tools within the app to manage savings goals effectively. Digital onboarding makes the process seamless, allowing clients to easily begin or enhance their savings journey.

With the MoneyMarket Select investment solution, investors can earn top rates while having the flexibility to transfer their earned interest to an account of their choice whenever the need may arise, providing peace of mind and financial security.

“At Standard Bank, we believe dreams matter. To realise these dreams in a difficult economic environment is to take uncharted paths, together with our clients, that lead to their growth and support their life goals. Our commitment to excellence has been recognised with awards in both the saving and private banking categories. That’s why, every day, we are dedicated to finding new ways to make dreams possible,” Mhloli concludes.