AVBOB Investment Plan: Saving made easy

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It is no secret that the South African saving culture is not as healthy as it should be. Many factors hinder consumer saving – some are unavoidable, while others involve making poor financial decisions. AVBOB aims to help South Africans save with the new AVBOB Investment Plan.

High cost of living makes it difficult to save as consumers spend a huge part of their income on living expenses and essentials. There are, however, other factors, such as living beyond one’s means and a lack of financial knowledge, that can affect consumers’ ability to save. It was for this reason (among others) that the biggest mutual society in Africa, AVBOB, decided to introduce a new investment plan to assist and encourage South Africans to save.

The AVBOB Investment Plan provides customers with a choice of two investment terms: five years or 10 years. The five-year plan requires a minimum investment amount of R300 per month whereas the 10-year plan allows customers to invest as little as R250 per month. AVBOB also offers a once-off investment with a minimum of R6 000 for both the five-year and 10-year plans.

To achieve financial freedom, it is paramount that one gets into the habit of saving. Consumers are encouraged to save any amount they can afford because starting somewhere is better than not starting at all. Investors are advised against withdrawing from their investment during its term as the best returns are achieved when investing for the full investment period. 

As a mutual society, members constantly reap mutual benefits by virtue of having a policy with AVBOB – in this case, those with an investment policy will experience being part of a mutual society. Customers who have an investment policy with AVBOB will enjoy sharing in AVBOB’s profits by means of special bonuses and getting up to R4 000 funeral discount if AVBOB Funeral Services conducts the funeral of the insured person. The deceased is also transported free of charge if the policy is older than six months.

As we get closer to July, which is National Savings Month in South Africa, we encourage consumers to start saving and investing. The AVBOB Investment Plan can enable investors to reach their short-, medium- and long-term goals.

*For more information on the AVBOB Investment Plan, visit: https://www.avbob.co.za/product/invest-with-avbob

ABOUT AVBOB MUTUAL SOCIETY

AVBOB is 105 years old. The AVBOB Group comprises AVBOB Mutual Assurance Society, which provides insurance products, and two subsidiaries – AVBOB Funeral Service and AVBOB Industries, which manufactures our coffins and funeralware. Being a mutual means that AVBOB has no external shareholders but instead has members who receive a share of AVBOB’s surplus profit. Our members are our policyholders, and our mutual status drives our purpose.