South African Cash Investment Rates

[Trek]

I picked three random South African banks to check their fixed deposit rates. I was surprised how high the returns were, between 9% & 12% per annum.
I haven't thoroughly researched SA banks, their risk, foreigners opening deposits there, etc, but could be worth a little more research.

Welcome to Investec :: Cash Investment Rates

https://www.fnb.co.za/aboutus/rates/fixedDeposit.html

Bidvest Bank - Deposits and Investments

[brewer12345]

AFAIK, S Africa has a long history of restricting repatriation of foreign investors' capital. No thanks.

You want rates that high, buy junk bonds.

[Meadbh]

Be careful. Even South Africans can't get their own money out of the country.

[Trek]

I'm not planning to put any money there. I just like surfing the net for interesting alternative investments. I was just amazed how high the rates were. But if you can't get your money back out, well....

[brewer12345]

I am lead to believethat Iceland and New Zealand have very high rates, ifthat syour idea of a good time. And a lot more stable than S Africa.

[Trek]

Quote:

Originally Posted by brewer12345 I am lead to believethat Iceland and New Zealand have very high rates, ifthat syour idea of a good time. And a lot more stable than S Africa.

Cool, thanks for the tip. I can get a cheap flight to Iceland. Only 3 hours.

[Trek]

You weren't kidding. CD's are paying around 12% in Iceland.

DailyWealth: Join Me in Iceland… the Land of Double-Digit Interest Rates

Also, for short-term money, Everbank offers Iceland CDs – and it is paying roughly 13% APR!

EverBank - World Currency CD