Swaziland Building Society (SBS) has called upon emaSwati to start saving as early as now – beginning of the year.
The beginning of the year can be a perfect time to start saving – a chance to turn your financial goals into reality. The major benefits for saving money is long-term security, financial independence, stress-free life and the ability to take calculated risks.
Saving can assist you build a secure future. It is important to set a realistic savings goal and create a budget. SBS offers numerous investments and saving products that suit your individual needs and provide the necessary rewards. Suitable savings and investments accounts include Notsa Natsi, Fixed Deposit, Subscription Shares and Likwindla Savings.
Notsa Natsi Investment Account is available for both individual and institutional investors looking to maximise their returns on lump-sum savings.
The account is ideal whether saving for a personal goal or managing institutional funds. One of its standout features is the attractive interest rates. This account requires a minimum deposit of E5 000. Additional deposits can be made anytime at any SBS branch, through an ATM, other digital platforms or stop order arrangement. It has an investment period of up to 36 months, with an option of reinvesting at maturity. This account has no monthly charges. Interest in the Notsa Natsi Account is payable bi-annually – in June and December – with the flexibility to either re-invest earnings for compounded growth or transfer to any preferred SBS account.
Notsa Natsi is redeemable anytime a customer deems fit ‘by simply writing a six-month notice letter prior to the withdrawal’.
The Fixed Deposit is a short to medium-term investment for a deposit at a fixed interest rate, for a fixed period ranging from three months to two years. It can also be used as security for a short-term loan. The sum placed on the Fixed Deposit may not be withdrawn before the expiry of the period of the deposit.
Benefits include access to their money in case of emergency via a Short Loan not exceeding 90 per cent of the invested funds, convenience to save for special and occasional purposes and flexible investment periods.
Subscription Shares is an affordable short-to-long-term investment product. You can start with a minimum initial deposit of E100.
You can choose between 12, 24 or 36 months Subscription periods. Your Subscription Shares can only be redeemed at the end of the period you have chosen.
The benefits are that there are no charges, pays good interest and you can also accumulate a deposit towards school fees /tuition fees, buying your new home or save up for home improvements.
Likwindla Savings is for groups of individuals desiring to save as groups or cooperatives and earn good interest. Amounts contracted for saving are deducted and remitted by employer.
This is the best method used by employers to instil the culture of saving upon employees. It is good for an annual saving plan. Minimum deposit is E100.
For further information and advice, customers are urged to visit any SBS branch or call the Contact Centre 2404 1313 or info@sbs.co.sz
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