A new, independent price comparison website now allows savers to compare interest rate options online to ensure they get the highest interest, based on their individual requirements.
Over 16 million South Africans have cash in savings accounts, but according to the latest SA Reserve Bank statistics about 42% of this sits in low interest accounts that offer interest rates as low as 1% at Postbank and as high as 10% on a five year fixed deposit at Capitec. A new, independent price comparison website allows savers to compare options online to ensure they get the highest interest, based on their individual requirements.
MyTreasury.co.za offers an efficient way to find the best savings account that offers you the highest interest rate in just a few clicks. The optimiser service is free and provides options based on a few simple questions.
If you wanted to get the best possible returns on the money you have in the bank, it has been virtually impossible to determine which savings account best matches your requirements. Until now, it has not been easy to find bank rate data, never mind comparing different rates across multiple banks and products. Trying to find the best rate for your specific profile and savings preferences is even more complex and time-consuming.
Efficient saving can make a massive difference to your wealth. Moving your cash from a call account that offers returns of 3% to a long term fixed deposit with an interest rate of 10% for example, would effectively double your wealth over ten years!
The MyTreasury.co.za algorithm searches 670 different rates at eight deposit taking institutions (Standard Bank, Absa, Nedbank, FNB, Investec, Capitec, Postbank, Bidvest) to find you the best product. These options are constantly expanding. Clients can specify liquidity ranging from one day to five years and amounts from R1000 to R50 million.
My Treasury was founded by partners Michael Kransdorff, Simon Shear and Daniel Rubenstein. As an economist, Kransdorff saw a need to demystify saving and wanted to make it easier for the man on the street to access the best rates.
“Savings accounts are a great starting point for encouraging smarter wealth management. Just about everyone with an income has a bank account, and by encouraging people to see their ordinary bank accounts as tools for actively growing wealth, we hope to make South Africans more excited about saving. It doesn’t cost you anything to get higher returns on your cash, but you need to know where to look,” says Kransdorff.
In seconds, My Treasury’s proprietary algorithm matches savers to the account that offers them the best returns for their savings needs. It is easy to use and the optimiser asks just a few questions to connect you to relevant, highest interest savings options that meet your needs. “My Treasury considers your personal profile, such as your age, to determine whether you are eligible for a preferential rate,” adds Kransdorff.
He says that in periods of uncertainty, it’s especially important to grow wealth wisely. “In the current economic climate, you can’t afford to leave your money sitting idly. With the My Treasury Optimiser, there’s a much more intelligent way to save.”
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”