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Online Share Trading

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Money Market Interest rate?

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MichaelR
Regular Contributor
I want to know how much interest will one get PA on 1 million Rand in the money market today.
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9 REPLIES 9
SimonPB
Valued Contributor
assuming you're talking about our money market, and remembering that the rates adjust in real time, and assuming it is R1million and one. Current effective annaul rate is 10.46%.

https://securities.standardbank.co.za/ost/nsp/onlinereg/moneyMark.asp
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MichaelR
Regular Contributor
Thanks Simon , I mean any other money market account in South Africa as well, I see Stanlib shows 10.26 on their website.What about the other banks??
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Not applicable
Why does it have to be R1mill and one? is it just to enter the next interest rate bracket?
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SimonPB
Valued Contributor
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Project_Directo
Super Contributor
I am getting 37.5% so you can exponentially work out my capital investment, lol, AND THATS ALL BECAUSE THE CONSTRUCTION SECTOR IS FLYIN,LOL
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Not applicable
they all vary but average around 10% and a little more so thats about R8350 per month but remember SARS will be wanting his share of all you interest. bugger, you pay tax in the form of duties and vat to bring something into the country, you then pay tax on your staffs salaries PAYE etc, you then pay VAT on selling your product, then pay tax on your company profits, from you profits you pay yourself a dividend or salary which you pay tax on, then when you go shopping you've payed tax on your petrol and pay VAT on all your food, and the little you've got to invest in a moneymarket account they still tax and interest you get... Dont mind me, Im just working out my staffs chrismas bonuses and not a happy chappy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Brazen
Super Contributor
Geez TZ, no wonder you have to wait for the sale to get your gammon!
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Mic
Super Contributor
I get 11.69% at Investec for 1bar and more fixed for one year.
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_nova
Super Contributor
eina, you'll scare the votes away Simon. They really work out the finer details you know! DON'T scare the voters ok!
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