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  • The JSE Investment and Finance Forum

    Platinum Wealth is the soon-to-be-leading financial forum with an eye on the future of our country and the citizens of South Africa. No matter if the years of trading with just goods have gone by, us as a civilization have always looked towards how to get a better deal, how to have more – essentially to prosper. We have created a bigger platform for you to do so. A connection of your peers giving their tips and tricks for what has helped them reach their finance and investment goals.

    From personal finance and making money, to financial news and small business, we cover it all at Platinum Wealth. Pose your money and investment questions in our money and investment forums, we'll make sure they get answered. We want to guide a new generation of money-conscious readers. We are here to share tips that will help you live large without sacrificing your financial independence.

  1. Finance forums

    1. Investments

      Discussions and questions about stock market investments, tax free savings, and high interest savings accounts.

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    2. General Finance

      Discuss general personal finance issues and home accounting not covered on the other finance boards.

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    3. Business Finance

      Discussions about business finance, such as accounts and accounting, business loans, taxes, and related business issues.

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  2. General Forums

    1. News and Current Affairs

      Financial News, Economic Events, Politics of Money, discussions about the latest news and current affairs

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    2. General Chat

      General chat and discussion away from the finance topics.

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    3. The Marketplace

      Buy / Sell / Trade - Forum Classifieds. Please read the rules first and follow them. (First sticky thread at the top)

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    4. Introductions

      Introduce yourself to The Platinum Wealth community and say hello. :)

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    5. Site News & Feedback

      Platinum Wealth site news and feedback.

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  3. Cryptocurrencies

    1. Mining

      Discussions about Bitcoin, Ethereum, Zcash, Litecoin and other cryptocurrency mining and hardware.

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    2. Bitcoin BTC

      As the value goes up, heads start to swivel and skeptics begin to soften. Feel free to talk about anything and everything related to Bitcoin.

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    3. Ethereum ETH

      A decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime.

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    4. Other Cryptocurrencies

      General discussions about other cryptocurrencies that doesn't fit elsewhere. If enough interest is shown, it will be given it's own section.

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    5. Initial Coin Offerings

      Everything related to active and upcoming ICOs. An unregulated means by which funds are raised for a new cryptocurrency venture.

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  4. Investment Clubs

    1. Platinum Wealth Investment Club

      This is a sub forum for the Platinum Wealth Investment Club

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  • About Us

    The mission of Platinum Wealth is to create an Investor Culture in South Africa by equipping fellow South Africans with the knowledge and means to invest for their future today; taking control of their money and enabling a life full of wealth and prosperity. We work closely with Finance companies to ensure relevant, up to date content and answers are always available. We are proudly South African, presented by South Africans for South Africans. Be part of our Finance and Investment Forum it costs nothing and the returns last a lifetime. 



  • Posts

    • Nothing with regards to their product offering. Biggest mistake I ever made though was "upgrade" to their Private Client suite which is a bunch of bs. Most of the time you have to phone the relevant department anyway.   Bigger deposit can potentially mean better interest rate. If we put the interest rate aside, there should be no difference in repayments between having a R1 000 000 bond with R200 000 in an access facility vs a bond with R800 000 outstanding. The fundamental differences (and take it with a pinch of salt): Access facility means just that, you have access to any extra funds you put in your account. Great for an emergency fund, but easy to spend if you are "bad" with money Extra money in the access facility returns at the rate of your home loan interest but tax free. You pay tax on interest you gain but not on interest you save. Down side obviously is that the rate of return is pretty low compared to what equities are returning, so having too much in the access facility is potentially bad given the low interest rates. You cannot fix the interest rate on a bond with an access facility which is something people may want to do in a year or so's time   Personally - I took the access facility to keep my options and access to funds open.
    • What issues do you currently have with FNB?   Thanks for the deposit lesson, I am tempted to just go for the 100% now with how the economy is, but putting up a deposit might be safer I suppose.   How exactly does a deposit work, in other words lets say I want to get a bond for R1 000 000 what difference does it make if I put down R200 000 as a deposit VS asking for a loan of R800 000 instead?
    • Uhm, no idea what my credit score was but it's good. Haven't checked in a long time but never missing a payment for over a decade does that.   This was for a 100% loan so interest rates weren't as competitive, but I opted to rather put the deposit into the access facility.   Told her I wanted FNB. So she went to ABSA, Standard Bank and Nedbank first. Nedbank responded with prime-0.15, ABSA with something like Prime+3 and Standard Bank somewhere in between. Then sent the Nedbank offer to FNB who immediately matched it. We didn't negotiate much further because of the 100% bond.   Since then and with the interest rates that fell I moved to Investec and in the process of moving my bond to them as well. A bit early, have to pay bond attorneys again (although, Investec discount) and I get Prime-0.65% which means I'm now on 6.6%. Also move my vehicle finance to them at Prime-0.5%. So very happy. In the grand scheme of things the extra round of bond fees is not the worst and I just want to get away from FNB as a whole. Not advisable unless you've done the calculations and happy with the financial impact (you shouldn't be.... something wrong with me)   Lessons: If you want to negotiate, put down a 20% deposit Make sure you're happy with whomever gives you the loan because moving too soon is not cost effective
    • I think the bond originator gets paid by the bank so there should not be any costs to the seller, which is good - I just want to make sure that free service is not at my expense in terms of getting the best interest rate.   IE, would a bond originator really be able to negotiate better than me, I mean I can sit with the banker and tell him if you give me a better rate I will swing my bank account or car loan over to you as well -  I am assuming that is how negotiations with a bank works, and working on that assumption the question becomes; What leverage does the bond originator have over me going to the bank directly to ensure the best interest rate is given?   For anyone else more experience reading the above, I am clearly out of my depth here and might be thinking about this all wrong.   @Bandit what is your credit score and what percentage interest did you get?   How was the experience using betterbond, assuming I go with them - any tips?
    • I used Betterbond. But I bought from a developer and the estate agents made use of them. In other words - I don't remember paying for their services (not sure how they get paid).  
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