Money Market accounts vs Investment funds – which one is right for you?
John Perlman learns the difference between these two investment options and explores how they contribute towards different financial goals.
In this week’s Investment Chat, we were joined by Standard Bank’s Head of Savings & Investment Thopi Mhloli to gain some insight into the world of investing – particularly exploring investment funds and money market accounts.
Mhloli outlined the key factors to consider when looking into either of these options, and highlighted the suite of investment plans offered by Standard Bank. Listen to the full conversation below:
“MoneyMarket accounts are typically low-risk investment options that offer competitive interest rates and liquidity and are ideal for short-term savings goals,” explains Mhloli.
“Investment funds, on the other hand, involve putting money into multiple investors, and asset classes to invest in a diversified portfolio of assets such as stocks, bonds or real estate.”
An investment option that offers great balance, flexibility and control is the Standard Bank MoneyMarket Select account, which allows customers to tailor their savings strategies according to their financial goals and risk tolerance.
Open a MoneyMarket Select Investment account online or on the Standard Bank app. For more information on Standard Bank’s MoneyMarket Select account, visit their official website.
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