Pick n Pay Financial Services is part of the Pick n Pay Group. Pick n Pay was established in 1967 as a prime retail outlet in South Africa. Today, Pick n Pay stands as the second largest supermarket chain store in the in South Africa with an extended business footprint in other nations around Southern Africa such as Botswana, Mozambique, Zambia, Zimbabwe, Lesotho, Namibia,Mauritius etc.
With such an extensive retail network and huge clientele, it’s not surprising then that Pick n Pay ventured into the provision of financial services. One of the thriving products coming out of financial services are the RSA Retail Savings Bonds.
The RSA Retail Savings Bonds offers clients the opportunity to invest in accessible, affordable, secure and risk free investment bonds. By law, the South African Reserve Bank has endorsed the reduction of the cheque item limit from R5 million to R500,000. This is a risk reduction measure to combat the excessive fraud committed in the use of cheques, whether personal or bank guaranteed. These bonds come with fixed as well as inflation linked rates. Under fixed rates, 2 year fixed rate percentage is at 7.25%, 3 years is at 7.75% and 5 years is at 8.25%. Under the inflation linked rates, 3 year inflation rate is at 1.00%, 5 years is at 1.25% and 10 years is at 2.25%.
The RSA Retail Savings Bonds are indeed providing the right avenue to invest for secure retirement. Prospective clients can register for this product on 0123155888.