Much was made about the RSA Retail Bond when it was launched and about how it would provide a safe and cheap investment with a reasonable returns to the “man-in-the-street”.
Well, I have been trying to buy some of these for a “man-in-the-street” using the RSA Retail Bond website – what a nightmare. There is an application form online but no details where to submit it or how to pay the funds into an account.
So I sent an email to the address on the site – 4 days later and still no reply. So I tried calling the telephone number (which is the number investors are supposed to use if they want values) and it just rings and rings and rings until it goes dead…
I know that you can also buy these at Pick n Pay or via the Post Office but if that is the only way to do it then why have forms on the website? And if no-one is going to reply to emails or answer the phone, why have an email address or telephone number on the site? And if you are not going to reply, how do you expect investors to get information or communicate with you?
This is my first experience of using this investment vehicle for a client and so far, I am not impressed.
I have written to the communications manager at National Treasury – let’s see if we get a reply.
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13 Responses to “RSA Retail Bonds”
In 2008 I looked for info on these bonds re how [reliability was the factor in question] the calculation was made and was directed to an ostensibly well known site which the government proclaimed was the exact info base used by their fundi’s to calculate the actual interest paid. The site was named something like Bond Index but when one accessed the site one arrived at “Lucy’s Love Parlour” or somesuch.
But now with more realistic interest rates prevailing I’m gonna have to take another look at these if only for forms sake. I’ve been into the money market for the past 4 years. Otherwise my broker has gotta find similar for the cash portion of my portfolio. As they say at the races “whadda ya know”. If you have suggestions, kindly pass ‘em on – that is of course if this website is still active – there are so many unattached/abandoned sites floating around the internet…
Take a look at the RSA Retail Bond Site – http://www.rsaretailbonds.gov.za – there are calculators on the site. I think the 2 year option is especially attractive…but I think that the rate might change at the end of the month.
Gregg
i found the same could not get hold of any one, but managed to make contact with a lady who was very helpfull I don’t have to go via the call centre (they hopeless) I still think the interest rate is attractive no commission paid and no costs
I had a much different/better experience.
Downloaded the form, filled in the required details, went to POffice, asked advice because the amount was too large to handle in cash without lots of banking fees, chucked form in file 13, went back and phoned 012-3155888, phone was answered within 2 minutes, spoke to lady who took all my details and opened the account, she then gave their banking details and requested that the amount be deposited within a certain time frame, gave me a reference to quote when depositing funds, I did as required by eft, received my proof/certificate in mail few days later.
Im a happy customer.
Nice to hear good stories like this…it does not happen often enough…as I type I am holding on for RSA Retail to try to get them to allocate funds to a client that were paid in on the 29th Oct…spoke to someone yesterday who promised to call back and still have not…hence the follow up. hope it gets sorted soon!
Won’t thy steel our money like they do. Government is to corrupt.
If I paid R25000 for a 2 year fixed rate will they put 7.50% each month? Please help me understand
Hi Bongani – they would pay you 7.5% per year – this could be paid to you on a monthly or half-yearly basis. On R25000 you would get about R156 per month.
It is highly unlikely – the SA Government bonds are very highly respected by a great many international investors…
Invested 3 times in these bonds over the last year. Never had a problem with the webpage or the call centre, found them very courteous and efficient. Received confirmations and interest was paid from the day of deposit not from day of confirmation. I have family and friends who have also invested same good experiences.
Have also phoned with questions no problem always able to answer.
Articles written on Money web, Fin 24 and many write ups in Business publications all positive. So amazed at the negative comments.
I am very happy with my RSA Retail Bond investments; so easy to implement via the internet and very efficient; however I would like to know how much of our INTEREST is tax-free, I can’t seem to find that info. Many thanks.
Please another question. My interest is currently being capitalised. When I go on pension will I be able to change that and have my interest paid out monthly, or bi-annually? Thank you!