National Treasury to Launch RSA Retail Savings Top Up Bond

National Treasury to Launch RSA Retail Savings Top Up Bond (News Central TV)

The National Treasury, through its RSA Retail Bonds unit, has created a new bond savings product in a bid to encourage South Africans to save.

The RSA Retail Savings Top Up Bond product was also created in response to high demand by the public for a more affordable Bonds product, Treasury points out in a statement.

The product will be launched to the public on April 1. Any individual with a valid South African identity number and a bank account within the country can start investing.

Informal groups, such as social clubs and stokvels, which operate on monthly pooled savings, will be eligible to invest in the Top-Up Bond by providing their constitution and proof of banking details in the name of the informal group.

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