First in South Africa – The African Bank Access Accumulator

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Investing with African Bank's Access Accumulator
Investing, image: pxhere.com
Investing with African Bank's Access Accumulator
Investing, image: pxhere.com

Every now and then there are innovative products that come out of the Business Market around the world. There are so many products in every business, some of which are similar to each other, to a point that most businesses sell the same product differently.

[ht_message mstyle=”success” title=”” show_icon=”” id=”” class=”” style=”” ]In the Banking Sector, the number one priority is to save a client’s money at affordable fees, and so much that you can get interests in a positive balance.[/ht_message]

Well, African Bank introduced the Access Accumulator which basically gives you an opportunity to invest your money with the ability to access it all or just in parts. You can earn interest from 6.55% on a monthly basis, and the interest rate increases monthly over a maximum period of 2 years (24 Months). It’s your account, it’s your money, and you can request a withdrawal anytime and have your payout processed with a day (24 hours) – there will be no penalty fees or notice period, your money will be available to you after the process has been completed.

[ht_message mstyle=”info” title=”” show_icon=”” id=”” class=”” style=”” ]I use to think I was intractable when it comes to sales and products, but I come to realize that I love a good deal, and when I see one – I would suggest it to a number of potential customers, but well, I tell you now, the Access Accumulator by African Bank, is something you can give it a try and report back to me if necessary.[/ht_message]

Even when you make a withdrawal or early withdrawals, your interest rate keeps on increasing and growing your money at a rate never seen before. All that it takes is Opening an Access Accumulator Account with African Bank.

Interest rates may change over time, rates quotes may vary from day-to-day, and the interest rate on a 24-month period may get up to 8.96% (This too is for illustration purposes but very much possible)

When it comes to tax implications of investing, African Bank will not be held liable and/or advise you on that, (See all Tax-Free Accounts and read on Taxes) – contact your financial adviser for advice or your tax consultant, or tweet me, however, read my disclaimer before you hold me responsible for anything.

Facts about Access Accumulator

[ht_message mstyle=”alert” title=”” show_icon=”” id=”” class=”” style=”” ]

  • The minimum balance to open this account is R500
  • Imagine an ever-increasing interest, as with the African Bank Access Accumulator it is guaranteed that your interest will grow by 0.15% on a monthly basis. This means in 24 Months your interest shall have grown by 3.6%, and for that duration, it will never decrease.
  • You get access to all of your money or just some of it and available to you almost immediately.
  • After your maturity date, you can choose to re-invest or a full pay-out.
  • You can have your account ready and registered in just under 5 minutes.
  • If you invest today this month, every year on this day of the month will be your anniversary month.

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HOW TO APPLY

  • You need a valid ID (Identity Document)
  • Prove of Residence (That’s not older than 3 months)

[ht_message mstyle=”success” title=”” show_icon=”” id=”” class=”” style=”” ]Read more about the African Bank Access Accumulator[/ht_message]



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