Accounts
Bank how and when you choose to, with the low fees or extra benefits you want.
Credit cards
Shop online or instore and earn rewards for it, with up to 55 days interest-free credit.
Ways to bank
See how to bank in your own time, 24/7 online, on your phone or on the Money app.
Personal loans
Personalised interest rates for affordable loans from R2,000 to R300,000.
Home loans
Loan up to 100% of the property value or up to 105% if you are a first-time buyer.
Accounts
-
Everyday banking
Safety, convenience and rewards
-
Youth banking
For under 16s, or under 25s
-
Private Clients
For a professional banking experience
-
Digital wallet
Your phone is your bank account
-
Private Wealth
The globally integrated account
-
Goal saving
Easy access to interest earned
- Refugees and asylum seekers
Credit cards
Ways to bank
International banking
Rewards
Accounts
-
On demand
Money available at any time
-
In 24 hours
Cash in your hand the next day
-
In 32 days
Funds ready within a month
-
End of term
Investments left until maturity
Investment services
Personal loans
Home loans
Student loans
Overdrafts
Vehicle finance
Blog
Talk to us
Find us
- Login & Register
- Online Banking
- Online Share Trading
- NetBank Business
- NedFleet
- Nedbank Greenbacks
- Nedbank ID
- Accounts
- Everyday banking
- Youth banking
- Private Clients
- Digital wallet
- Private Wealth
- Goal saving
- Refugees and asylum seekers
- See all accounts
- Get help choosing
- FAQ
- How-to guides
- Everyday banking
- Savvy Bundle Platinum
- Savvy Plus Gold
- Pay-as-you-use
- Youth banking
- Nedbank4Me
- Unlocked.Me
- Private Clients
- Pay-as-you-use
- Young Professionals
- Private Bundle and Private One
- Digital wallet
- MobiMoney
- Private Wealth
- Private Wealth Bundle
- Goal saving
- MyPocket
- Refugees and asylum seekers
- American Express
- Amex Gold
- Amex Platinum
- Ways to bank
- Bill payments
- Bill payments
- International banking
- Rewards
- Save & Invest
- Accounts
- Investment services
- On demand
- Club
- Money Market
- Stokvel
- In 24 hours
- JustInvest
- PlatinumInvest
- Tax-free Savings
- MoneyTrader
- Tax-free Fixed Deposit
- EasyAccess Fixed Deposit
- PrimeSelect
- In 32 days
- Electronic 32Day Notice
- 32Day Notice
- End of term
- Electronic Fixed Deposit
- Electronic Optimum Plus
- Platinum Fixed Deposit
- Fixed Deposit
- OptimumPlus
- Investment services
- Personal loans
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Explore loans
- FAQ
- How to guides
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Home loans
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar Energy Finance
- Explore home loans
- FAQ
- How to guides
- Track application
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar Energy Finance
- Student loans
- Explore student loans
- Overdrafts
- Vehicle finance
- Insure
- Plan
- Learn
- Blog
- Blog
- Contact us
- Talk to us
- Find us
- Talk to us
- Find us
Use different accounts to save for specific goals
Use different accounts to save for specific goals
Staff writer
Posted 18/01/2022 3 mins
Saving and investment products are useful if you have clear-cut goals.
Now that you have decided to save, you could be feeling a little confused about which saving products to choose, given the wide array of choices out there. But don’t feel flustered – Nedbank has a range of savings and investment products to suit everyone’s needs. The onus is on you as an investor to know your specific goals for saving. In other words, you need to know why you wish to save in the first place. Only then can you find the most appropriate products to suit your aspirations.
Starting out in life – what goal to have?
Our goals evolve as we go through life, but they act as a roadmap for the entire investment journey, helping us to stay on track. If you’re at the beginning of your career, perhaps only in your first or second job, your most important goal could be buying a car to make travelling easier. Or you could be ready to start saving for a deposit to buy your first property.
Another key stage of your life to consider is retirement – but you should start planning for it in your 20s
This is also a fantastic stage in your life to start exploring the world, so travel could be a huge motivating factor to start saving. Because these goals are short-term, you will need to save in products that will give you back your money in the not-so-distant future.
Nedbank has products that effectively cater for short-term goals. Notable among them are JustInvest, MyPocket and the Electronic 32Day Notice account. All these products offer competitive interest on invested money. These products are also useful for setting up an emergency fund, as the invested money is easy to access.
Settling into your career and life – intermediate goals
As you grow older, change jobs and start a family, your goals may change. As a parent, you will no doubt wish to offer your children the best education possible. Given the ever-rising cost of school fees, it’s important not only to save vigorously, but also to be mindful of the returns on any investment vehicle you choose.
For other investors, this could also be a stage to consider buying a bigger house for your family. Saving products that are short- to medium-term come in handy. These are saving instruments that can keep your money invested for 2 to 5 years – sometimes more, if you choose to keep your money invested. Some of the Nedbank products to consider include JustInvest, Electronic 32Day Notice, Fixed Deposit, Optimum Plus, Easy Access Deposit and Prime Select accounts. Talk to your banker, visit a branch, or call 0860 555 111 to find out more about these exceptional accounts and the terms and conditions of each.
Planning for the golden years – long-term goals
Another key stage of your life to consider is retirement – but you should start planning for it in your 20s, right at the start of your career. Saving for your golden years so you can maintain your lifestyle and lead a financially stress-free life is critical. A financial advisor can help you determine the amount of money you will need to retire comfortably.
The reason you need to start saving for retirement early in life is to give your money enough time to grow. Retirement savings are long-term. The longer and more you save, the better off you’ll be after retirement. Nedbank offers a fixed deposit account, retirement annuity, tax-free investments and endowments – all of these products help you pay less tax from your retirement savings, so you get more money out.