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Money matters
RSA Retail Savings Bonds
Consumer Protection
How do I invest in RSA Retail Savings Bonds?
Information on investing in RSA Retail Savings Bonds are available on the RSA Retail Savings Bonds website.
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Can a group or saving scheme buy RSA Retail Savings Bonds?
No, these investments are specifically meant for individuals and
cannot be bought by group schemes, social clubs, companies or
any other juristic persons; only natural persons can purchase
them.
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Do I have to invest in Retail Savings Bonds only on a monthly basis?
No, depending on your financial situation you may either invest
once or as often as you wish. Each investment
must be a minimum amount of
R1 000.00. Each investment will have its own maturity date and/or
interest rate.
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Can I use a debit order for a certain amount to invest in Retail Savings Bonds each month?
No, you need to apply each time before you invest in the Retail
Savings Bonds for reconciliation purposes.
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Can my beneficiaries continue with the investments
in Retail Savings Bonds in case of my death?
No, in the event of death, the investment will be paid out to the
Estate or to the nominated beneficiary(s).
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When can I have access to my money invested in Retail Savings Bonds?
The Fixed Rate Retail Savings Bond series consists of bonds with 2-year, 3-year and 5-year terms. The Inflation Linked Retail Savings Bond series consists of bonds with either a 3-year, 5-year or 10-year maturity. However, you may withdraw your money after 12 months of
investing, subject to a penalty fee.
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Can I sell my Retail Savings Bonds?
No, RSA Retail Savings Bonds are non-tradable securities.
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Can I use my RSA Retail Savings Bonds, or the interest
payment as security for a loan?
No, as RSA Retail Savings Bonds are non-tradable securities you cannot transfer your rights to any third party.
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What is the money used for that is invested in the
RSA Retail Savings Bonds?
The
funds are used for education, security, building schools and
roads etc.
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If I purchase and register my under aged children for retail savings bonds, do they have to pay tax?
Not directly, because as minors and non-income earners, children do not
pay tax.
For the latest update and more information about income tax for
individuals and donations tax, please contact your tax advisor or
the nearest South African Revenue Services Office.
Where do I find out more about my rights as a consumer?
The Consumer Protection Act, Act 68 of 2008 [PDF] provides protection to you as consumer. The National Consumer Commission (NCC) was established in terms of the Act with jurisdiction throughout the Republic of South Africa. Provincial Consumer Affairs Offices countrywide offer you advice and protection.
You can find more FAQs on consumer rights on the website of the National Consumer Commission.
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Last modified: 29 March 2012 10:13:44. |
