Do you want to invest with Absa AIMS investment account in South Africa but do not know how to do it.
Then, read this quick guide to learn.
We will first help you understand what an AIMS investment account is.
What Is AIMS Investment Account
This money market account offers investors attractive interest returns on liquid and secure capital investments.
It is an investment solution that invests in a trust fund fully invested in money market instruments at all times.
The interests are calculated daily and fluctuate during the investment term as the rates of interests change.
Now that you know the very basics of the account, we will show you exactly how the account works in South Africa.
Absa AIMS Investment Account
The ideal investor is an individual or corporate who requires a secure capital investment with high levels of liquidity and is not tax-sensitive.
The account works to satisfy those who have a short-term investment horizon or require a temporary cash management solution.
This account is a better alternative to bank deposits accounts.
The account offers competitive interest returns.
Interest derived from the investment is taxable in the hands of the investor.
Tax implied is subject to the current interest exemption for natural persons.
Corporates and trusts were taxed at their applicable rates.
The account allows ad hoc withdrawals and addition to the investment.
You can choose to be paid your monthly interest as income every month or every year.
This is how the Absa AIMS investment account works in South Africa.
Now that you know how the account works, we will show you the fees for using the AIMS investment account.
Absa AIMS Fees
The fees are accrued and deducted every month.
You will be charged 0.25% per year for a financial adviser and another 0.25% p.a AIMS administration fee.
The minimum investment amount is R1,000,000, and the minimum additional investment amount is R100,000.
AIMS or the financial adviser does not charge you any initiation fees.
This is all there is to know about the Absa AIMS investment account in South Africa.