Nedbank is one of South Africa’s biggest financial institutions. In a big and competitive financial industry which stands on a strong foundation of a strong and thriving South African economy. It is for this reason that Nedbank believes innovation and excellent customer service will be the difference and other fierce competitors. Current economic indicators show that the middle banking segment (those who earn between R100 000 and R550 000 per annum) could grow from 4.2m this year to 10.9m by 2020, while the entry-level banking segment could increase from 13.7m to 14.6m customers over the same period.
Nedbanks strategy is therefore to unlock the potential of the entry-level and youth (which will be the next middle-income segment) markets through a positive retail banking experience, and attracting more clients either through its wholesale channel or as a result of compelling value propositions. One of those compelling and innovative product propositions is the Nedbank money trader.
The Nedbank money trader is an investment account that allows clients to save smartly. The money trader requires that one must have an initial deposit of R50000 and there is no maximum limit on how much can be kept in the account, additional deposits and withdraws in this account are subject to a minimum amount of R5000, interest rate applies regardless of the balance and interest rates can fluctuate on a daily basis as they are linked to money market conditions. Interest on this account is calculated daily and may be paid out or capitalised monthly as long as the account maintains a minimum balance of R50,000.
This account also offers other benefits such as access to funds within 24 hours, capital is fully guaranteed, there are no fees and commissions and this account is available for both individuals and small businesses.
To access this fantastic service or product, Nedbank can be contacted on 0860555111.
You can apply for a Nedbank loan here