Saving and investing are vital tools for ensuring financial security and freedom. Storing money for future use is a necessary tool these days, especially for retirement planning and the rising costs of education. According to ABSA’s website, many South Africans are not adequately prepared for retirement. Investing is an option under-used by too many South Africans. ABSA offers a range of saving and investment products which can be useful in combatting this scourge.
The difference between saving and investing is minimal but the advantages offered by both are similar.
Saving ensures that clients’ capital is secure and ABSA Savings Plans offer easy access and modest interest earned on this option.
Notice Deposits and the ABSA Savings Plan offer clients solutions for short-term savings goals. Joint Solutions are ideal for pooling of funds.
ABSA Investing Plans are useful for long-term plans and ensures money growth.
The benefits of Investing solutions are that clients can save large amounts for education, retirement or other big purchases or experiences. Term Deposits are ideal for when you want to guarantee a higher Return on Investment and when one doesn’t need access to funds immediately. Unit Trusts are useful for Retirement planning and funds are easily accessible.
ABSA’s High Net Worth and Retirement Planning options are ideal for investing while the bank also offers Offshore Solutions as well as Share Trading.
ABSA’s saving and investing plans provide useful ways of preparing for future financial challenges. The range of products is comprehensive and is sure to ensure more clients opting to join ABSA.