Fixed deposit account

Nnani amaejaribu hii ya Faulu? Experience? Alternatives?
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  1. Upto 12% p.a means you don’t necesarily earn 12%
  2. Factor in 15% withholding tax
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15% tax :eek:

But kama ako na idle money wacha aweke huko tu

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yes, this is charged on any interest or divinded you earn. Ata ni ile 40/= ya Safcom shares unapata wamecharge 6 bob.

a buddie alinishow aliweka,kutoa imekua matanga…don’t know how true though.

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try government bonds

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its 5% bana

What is 5%?

withholding

its 15%

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And the effect of inflation?

si its like insurance. you’re depositing your mulla for someone to go invest ama? Then what you will withdraw after the agreed period is the returns from their biz? Si you just invest your mulla?

Fixed deposit is BS for lack of better words. Hio achia akina mwangi wa equity who have more money than they need. Kama wewe ni mtu wa kutafuta kama mimi, do some business with the money. You may even finance a startup upate shares kwa hio kampuni. Visit UON for great ideas that you can finance.

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Isn’t the witholding tax charged only on the interest?

This fixed deposit is good for guys with money lying around. If you have 10m, instead of buying an apartment, it would earn you 1.2m a year. That’s 100k a month. You can then rent a place for 60k a month and have 40k to run around. But you’d be stupid to do that.

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At KWFT you can get over 13% depending on the amount you want to ‘fix’. Halafu you can get ya interest monthly or quarterly etc…

assuming I invest half a million how much do I expect after a year after tax?

Hiyo half milli hautapata those big interest rates…you will get less that the 13% I have talked about. Ingia KWFT office yoyote watakushow

Thanks

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