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.”
Low-cost wireless sport earphones get a kickstart
Wireless earphone brands are common, but not crowdfunded brands. BRYAN TURNER takes the K Sport Wireless for a run.
As wireless technology becomes better, Bluetooth earphones have become popular in the consumer market. KuaiFit aspires to make them even more accessible to more people through a cheaper, quality product, by selling the K Sport Wireless Earphones directly from its Kickstarter page
KuaiFit has an app by the same name which offers voice-guided personal training services in almost every type of exercise, from cardio to weight-lifting. A vast range of connectivity to third-party sensors is available, like heart rate sensors and GPS devices, which work well with guided coaching.
The app starts off with selecting a fitness level: beginner, intermediate and advanced. Thereafter, one has the ability to connect with real personal trainers via a subscription to its paid service. The subscription comes free for 6 months with the earphones, and R30 per month thereafter.
The box includes a manual, a USB to two USB Type B connectors, different sized soft plastic eartips and the two earphone units. Each earphone is wireless and connects to the other independently of wires. This puts the K Sport Wireless in the realm of the Apple Earpods in terms of connection style.
The earphones are just over 2cm wide and 2cm high. The set is black with a light blue KuaiFit logo on the earphone’s button.
The button functions as an on/off switch when long-pressed and a play/pause button when quick-pressed. The dual-button set-up is convenient in everyday use, allowing for playback control depending on which hand is free. Two connectivity modes are available, single earphone mode or dual earphone mode. The dual earphone mode intelligently connects the second earphone and syncs stereo audio a few seconds after powering on.
In terms of connectivity, the earphones are Bluetooth 4.1 with a massive 10-meter range, provided there are no obstacles between the device and the earphones. While it’s not Bluetooth 5, it still falls into the Bluetooth Low Energy connection category, meaning that the smartphone’s battery won’t be drastically affected by a consistent connection to the earphones. The batteries within the earphones aren’t specifically listed but last anywhere between 3 and 6 hours, depending on the mode.
Audio quality is surprisingly good for earphones at this price point. The headset style is restricted to in-ear due to its small design and probable usage in movement-intensive activities. As a result, one has to be very careful how one puts these earphones, in because bass has the potential of getting reduced from an incorrect in-ear placement. In-ear earphones are usually notorious for ear discomfort and suction pain after extended usage. These earphones are one of the very few in this price range that are comfortable and don’t cause discomfort. The good quality of the soft plastic ear tip is definitely a factor in the high level of comfort of the in-ear earphone experience.
Overall, the K Sport Wireless earphones are great considering the sound quality and the low price: US$30 on Kickstarter.
Find them on Kickstarter here.
Taxify enters Google Maps
A recent update to Taxify now uses Google Maps which allows users to identify their drivers, find public transport and search for billing options.
People planning their travel routes using Google Maps will now see a Taxify icon in the app, in addition to the familiar car, public transport, walking and billing options.
Taxify started operating in South Africa in 2016 and as of October 2018 operates in seven South African cities – Johannesburg, Ekurhuleni, Tshwane, Cape Town, Durban, Port Elizabeth and Polokwane.
Once riders have searched for their destination and asked the app for directions, Google Maps shares the proximity of cars on the Taxify platform, as well as an estimated fare for the trip.
If users see that taking the Taxify option is their best bet, they can simply tap on the ‘Open app’ icon, to complete the process of booking the ride. Customers without the app on their device will be prompted to install Taxify first.
This integration makes it possible for users to evaluate which of the private, public or e-hailing modes of transport are most time-efficient and cost-effective.
“This integration with Google Maps makes it so much easier for users to choose the best way to move around their city,” says Gareth Taylor, Taxify’s country manager for South Africa. “They’ll have quick comparisons between estimated arrival times for the different modes of transport, as well as fares they can expect to pay, which will help save both time and money,” he added.
Taxify rides in Google Maps are rolling out globally today and will be available in more than 15 countries, with South Africa being one of the first countries to benefit from this convenient service.