Saving & Investing
A savings plan that allows a number of people to contribute towards a child’s education.
|Low||R 100||3 years|
Investing in your children’s education is often one of the most important and satisfying saving endeavours you can undertake. It’s great to know you are doing everything in your power to ensure their future personal, financial and professional success.
FuturePlan is a unique contractual savings account that allows you to do so with ease. There are no bank charges; tiered interest rates ensure you are rewarded extra for saving more; bonus interest every 12 months; and an additional Absa Education Interest Contribution of 3.5% (ta a maximum of R1 000) as well.
Any number of people can contribute to the account, allowing grandparents, godparents and other interested parties to invest in your child’s future.
What are the advantages?
- Additional Absa contribution of 3.5% interest
- Tiered interest rates, so the more you save, the higher your interest rate
- No administration charges or bank charges
- Bonus interest paid if account term is 12 months or longer
- Funds available at 32 days notice after the initial 3 year period or 10 days after maturity
How to qualify:
- A minimum initial deposit of R100
- A minimum monthly deposit of R100 for a period of 3 years or more