Retail Supermarket, Pick n Pay has a facility that allows South Africans to purchase RSA Retail Savings Bonds without any charges, commissions or costs involved. These bonds were designed to be as accessible as possible to the general public such that they invest money, while earning secured and market related returns on their investments.
Pick n Pay Stores, whose other branches are found in other regions of southern Africa such as Botswana, Mozambique, Zambia, Zimbabwe, Lesotho and Namibia, introduced this facility upon realizing that the National Treasury Department was lagging behind in saving South Africans.
These bonds are offered in two different types namely, the RSA Fixed Rate Retail Savings Bond, and the RSA Inflation linked Retail Savings Bond.
Who is eligible to access these bonds?
All individuals who are citizens or permanent residents of the Republic of South Africa and in possession of a valid South African identity number, and who operate banking accounts with financial institutions in the country, are eligible to purchase RSA Savings Bonds. Anyone whose age is below 18 should seek parental consent in writing before investing in RSA Retail Savings Bonds, unless such persons are married or have been granted majority statues in line with the provisions of the Age of Majority Act of 1972 (Act No. 57 of 1972).
Below are three steps qualifying individuals should follow in order to invest in a Retail Bond:
- They should register their details with the National Treasury
- Apply (select a bond and maturity)
Retail savings bonds can be obtained on fixed interest rates or inflation linked interest rates. Regarding fixed rates, a two year fixed rate is at 6.5%, three year rate at 7.00% and five year at 7.50%. As for inflation linked rates, a three year inflation is at 1.00%, 5 year inflation is at 1.25% while a ten year is at 2.25%.
Pick n Pay RSA Bonds and National Treasury can be contacted on 012 315 5888.