National Treasury, through its RSA Retail Bonds unit, has created a new and exciting bond savings product in a bid to encourage South Africans to save.
The RSA Retail Savings Top Up Bond product, said Treasury, is in response to “a high demand by the public for a more affordable RSA Retail Savings Bonds product”.
The department said the Top Up Bond will be launched to the public on 1 April 2022.
“The product is targeted at younger investors, who are less likely to invest large sums of money, which allows them to start saving from as little as R500, with the option to top up their investment as often as they like, with a minimum of R100 at any time over the investment term.
“Any individual with a valid RSA ID number and a bank account within the Republic can start investing. Informal groups, such as social clubs and stokvels, who operate on monthly pooled savings, will be able to be eligible to invest in the RSA Retail Savings Top-Up Bond by providing their constitution and proof of banking details in the name of the informal group,” Treasury said.
More information regarding the RSA Retail Savings Top Up Bond can be obtained from queries@rsaretailbonds.gov.za or on the helpline 012 315 5888. – SAnews.gov.za
