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A Fin24 user wants to be able to withdraw monthly interest from his investment. He writes:
Can you prescribe a safe investment option where I can invest R400 000 to R500 000 and which has the best interest rates - and where I can withdraw monthly interest on my investment?
Nonzuzo Makanda, portfolio manager at Lehumo Capital, responds:
A guaranteed investment plan with income will provide a safe investment plan for you.
This investment plan ensures capital guarantees and a fixed monthly income that is pre-calculated for 60 months based on the capital invested.
After 60 months you receive the initial capital invested. Therefore, the capital is locked in for five years. The rate of return is usually slightly higher than inflation.
- Fin24
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