Young Professionals Bank Account - the costs, the benefits and comparing banks

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Hey bangani thanks for tuning in 😃!
I hope you now know more about the Young Professionals Bank Accounts 🏦 and that you are ready to use the benefits.
IMPORTANT LINKS
💰 To apply for Investec YP account*🔗 referrals.inve...
💰 Link to the article on my blog : comparing different banks 🔗 nokuhlekumalo....
#YoungProfessionals #Bank #Investec #AskMissK
*this is an affiliate link - meaning I receive points for each successful referral.
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Other videos you should check out :
✨ What is a credit score? All you need to know about them 🔗 • What is a CREDIT SCORE...
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[@mpaisa.andrew6041]

In every family there's always someone who's breaking the chain of poverty and I hope is you the one who reading this comment in your family

[@MoneyMatterzMedia208]

Thank you brother

[@siyankosi7259]

God Bless You🙏

[@Ma.Auntiezaa]

Yoh we receive, Siyabonga jo❤️😪

[@casanovae.m7441]

Already I am bro😭

[@nelisiwemnisi9188]

Amen I will definitely be the one in Jesus name

[@konamenoname4244]

You have no idea how valuable you are to the generation struggling with adulting. Thank you so much ♥️

[@nonhlanhlanhlapo1296]

Yho I fully agree❤️💯

[@palesatsotetsi1771]

I have a young professionals account with Standard Bank and my private banker was able to negotiate really really good interest rates on both my vehicle asset finance and my home loan. It's definitely something I would recommend.

[@codegeek8256]

What rate did you get?

[@adopecombination8188]

I also want to know the rate

[@treasurem2491]

What was the rate?

[@lucasingels7350]

Standard Bank gives a rate of prime minus 1% on their vehicle asset finance for the Young Professionals account. This is the best guaranteed rate of all the Young Professionals accounts, I think ABSA also has this same rate for vehicle finance but their credit card rate is a lot worse.

[@adopecombination8188]

@@lucasingels7350 I disagree. Absa wanted to give me a 12% rate on Car Finance and BMW gave me the prime rate

[@philasandemarubelela5146]

Once again another well researched informative video! :) something I think people don't know about is a jumpstart loan from Standard Bank. I don't know if other banks offer this but its good to ask. Any first time home owner can apply for this. it covers a bond value up to R1.8 million and has an LTV (loan to value) of 105%. The additional 5% is for the registration fees and transfer duty so you don't have to pay those costs and don't have to put down a deposit on your home loan. This is something to just keep in the back of your head as these things come up. Hopefully this will help someone.

[@nokuhlekumalo]

🥺 THANK YOU for giving us such an informative comment Phila! I didn’t know of this but will be sure to spread the word !! Sbwl hope ownership 🕯🕯🕯

[@nokuhlekumalo]

Home **

[@bulelwankolongwane6660]

You are doing the Lord's work! Thank you! I'm about to start my SAICA articles this year, now I know what I'm getting myself into. Definitely choosing Investec 😁

[@nokuhlekumalo]

🥹♥️ glad I could help!! I hope the link worked for you 🧚🏾‍♀️ and if you have any questions let me know!

[@martinngcobo3123]

Great advice. I finished a qualification but couldn't get employment straight after uni and then decided to go back to study a different field altogether, I made the mistake of renewing my student bank account and managed to negotiate a card expiration date which was years in the future. Straight after completing the 2nd qualification I got employed and didn't change my account to a professional account and got my salary paid into my student account. Big mistake. When the card finally expired I discovered I wasn't building a credit record at all (I'd always get rejected for basic things like data deals and laptop deals only had a cheap clothing account in hopes of building a credit score), 2 years into full time employment and I wasn't getting the perks of a non-student account. I thought I was saving on banking fees but turns out I couldn't take on adult responsibilities (Car etc.)

[@thobile_tee]

Thank you so much for sharing Martin. I find this advice enlightening and I am currently on the exact same position. I will now consult with my current bank to switch to a Young professional bank account!😩 I was really not aware of this and have been continually using the Student Acc although I have found employment. And I am also trying to build my credit record for future plans. Thank you once again!

[@martinngcobo3123]

@@thobile_tee pleasure Thobile, congrats and good luck 🙂

[@morena_kwena]

Got approached by the Standard Bank team after i applied for a post with them. Long story short, i'm really happy with the benefits of owning a YP bank account.

[@KhethiweMathule]

I am literally going to open one tomorrow and also find out more about it. I just started working and saving for a car and I have been worried...but like thank u for this information.

[@thobilencangiso3722]

It's funny how I bumped into your channel and I subscribed after one video. I like your content

[@Dude-1689]

If you're going to play the credit and banking game, rather go for what's relevant and necessary. Above all it's just fancy products to lock people up in debt.

[@noxolokumkanikazi4819]

Because of levels: the way you chose investec, is the same way we will choose investec😎

[@amompyatona8754]

I'd say, stick to a student account for as long as u get kicked out or are required to move. Especially when u are not looking to buy a house or a car etc n during that time work on building your credit score. I am using a student account and I got a credit card to build my credit score. Now because I am buying a home I have to move to a different bank account to gain extra bank interest rate discounts. Unless u really need those benefits rather stick to a student account because it has no maintenance fees.

[@bongangcobo]

But if I may ask, the credit card you got was the interest rate below prime or was it above ? That's also a big difference I saw with the YP bank account interest rates from normal cards were like 13-17% compared to prime -0.25%/ prime -1%

[@amompyatona8754]

@@bongangcobo so with the credit card I have u have free interest up 2 55days. So I usually pay off my balance in less than 30days so I don't pay interest on that. N with the interest on the home I'm buying I got 1.15% less prime for it without having the YP account. I was using a student account when applying and they said they offering me that much if I switch to another account. It's not even a YP account.

[@amompyatona8754]

@@bongangcobo it's nedbank. N they offered me that to beat another banks offer. I think the best thing u can do for yourself as a Young professional is to avoid unnecessary expenses and assets/liabilities and rather focus on building your credit score. If u don't need it, leave it.

[@bongangcobo]

@@amompyatona8754 I don't follow, I needed a car but couldn't take one with no credit. So I needed some form of credit so I choose a credit card

[@amompyatona8754]

@@bongangcobo I am saying if u don't need it then don't get it.

[@nahumenzanza7022]

WE so missed you!!!Thank you so much for this.

[@Yonela_Nomvemve]

Ms. K. I LIVE for your content 🙌🏾🙌🏾

[@nontobekotau9773]

If you choose Standard bank, In order to access the bidvest lounge you must have a credit card. The cheque (professional) card does not grant you access.

[@nokuhlekumalo]

Thank you for letting us know ♥️ it is greatly appreciated!! I hope people see this.

[@lesam965]

Yup recently just got it and I wasn't even planning on getting a credit card but I need to up my credit score anyway

[@noxolomalgas8074]

The content I’ve been searching for!!!!! Thank you so much, the blog is extremely helpful so was this video!!

[@rose-marieminnie2436]

i look forward to watching your videos ! and watching your grow since a year now 🥺

[@zanothando_zee]

Notification gang💃💃💃 Siyabonga Sisi❤❤ Sibonge no 30K subscribers!!! Proud of your growth sis❤❤

[@nokuhlekumalo]

💃🏾💃🏾💃🏾💃🏾 sithi 31K already ke cabanga ! Asbooonge 🥺🙏🏾

[@CS-Jnr]

PERFECT timing , Im ABOUT TO GO OPEN Another ACCOUNT , great valuable video Nokutle

[@phumelelemayeni2185]

What a blessing Nokuhle❤Thank you for the advice

[@behappy1025]

Thank you so much 🙏 nawe don't stay away for too long 😂

[@olwethusilo7155]

Sisi you are doing the Lords work, Danko!

[@naturallybecca4360]

The over 30 price for a YP is silly. Some ppl really start life late....how is it completely double the monthly fee when you're a little older😢

[@tebogomashatolojackson2468]

But the YP account is for specific graduates not all fields qualify

[@thandekamkhize4476]

Omg Nobuhle wow I needed this coz I wanna switch my banks.

[@lesedimaimane7523]

I love you adulting content🥺🥺🥺

[@fearless0122]

This was very helfpful! Thank you so much Ms. K

[@pinkymbhense4881]

you always have thee best info, Dankoo Mkhaya wam

[@nokuthulathuli7571]

I could not resist…. First time seeing your videos and in Lobe with your work already. New subie 💃🏽

[@brookenjikho8209]

I love your vibe, great stuff!

[@vukosimabuza9161]

The bank charges though... like if you got 200k as excess cash and need to hold it in a current account savings account ,, then bank charges are like ridiculous... IDk,, I prefer like opening a asset management fund then dumping down like a few 100 thousands just as an opportunity cost for having a traditional bank account.... I like your content,,, i think rn I just need Returns than a holding account in a sense so I can grow my money into millions and billions 🥶🥶🥶

[@karabomakokoe4567]

Hi Miss K,can you please make a video comparing banks for students❤

[@thabangmalambe1473]

Amazing content, very informative!

[@jacobsphamandlayoko2008]

Please never stop. I love your channel.❤🙌

[@ClariHero]

Sis saving lives one day at a time 🙌🏽

[@Mavfitness.]

Hi sister I am a mother of 4 staying in Pretoria soshanguve I would like to start investing I am not working currently in divorce process please any advice how do I start

[@thabaninyandeni3250]

There is also a minimum amount that you must earn per annum to qualify for this account , for investec its R300,000 to R600,000 depending on the profession

[@treasurem2491]

But it says 600k on their website nje

[@thabaninyandeni3250]

Yes it does for most professions but for an attorney it’s between R300,000 and R550,000 pa, hence why I said it depends on the profession

[@thatonwamadi3061]

I'm a premier Fusion on fnb but still do not recieve any lounge benefits. In order to get the lounge benefits I have to do Alot of ebucks related things every month and it's just too tiring to keep up with. I travel a lot and enjoy utilizing the lounges.. Any advice?

[@brandondouwie6477]

Thanks for this vid, Nokuhle🙌

[@raysithole]

this was so informative , thank you so much ❤️

[@lulamagasa1405]

Very informative. Thank you!

[@LwaziMM]

The monthly fees are not mentioned on the website, I'm curious to know how they compare to the regular cheque account monthly fees.

[@nokuhlekumalo]

I have them on my Wordpress post so you can check it out. But the highest is R295 via Investec.

[@siphamandlasosibo2196]

Very insightful! Thank you for this!

[@McebisiNgcobo]

Kush baby, sbonge! 🙌

[@MissM_23]

What if you are an intern and you are currently studying and don’t have s degree yet?

[@vukosimabuza9161]

Also the cons of having an account with investec exceed the benefits,, for me personally . Why ?? I mean ,, how often does one travel on a per year basis for lounge benefits including The UK account etc,, like that needs money,, So it’s a Reject decision for me ,, but yeah,, I like your content your knowledge expertise w.r.t finance ... most young professionals don’t even aspire to further knowledge of finance and better understand how to bank and make investment decisions to accumulate wealth...

[@JohnnyMavuso]

I travel at least 9 times a year. To me, it all makes sense

[@danielmmarete287]

I love the animal farm quote🤣

[@riazoliphant3493]

useful content per usual! budd

[@istvanjegels3024]

Why am i binging your videos😳

[@thabamathe9140]

very insightful , thanks for the help!!!!

[@mapakisopita5508]

Thank you for this❤️.

[@elliotemmanuelnogo1632]

Great stuff 🤗

[@suppi6492]

Hi, good video. But I have used my student achiever account even todate. untill the bank just send me the message that I nolonger qualify so I would advice new professionals to not rush opening new bank card

[@ericaekuonye2687]

Thank you so much for this 🥺

[@zonkeshirleykomani2524]

Thank you Ms K

[@ashleighsbigworld]

miss K my hero ♥

[@thatosebe3959]

Say for instance you were renting at some student accommodation, doesn't it also count because of one having a good track record with it?

[@xolasitela8663]

Thank you so much Very helpful

[@gwenmathebula3891]

Wow so helpful!

[@phumzilekhalo6946]

Guess I'm the only one with not so good experience with a young professionals account, closed the account within 2 to 3 weeks after getting one. 😢

[@codegeek8256]

Why?

[@mbusomavuso3561]

Which bank?

[@Dude-1689]

Stick to what works for you ntwana.

[@fennyakwaake7405]

Please elaborate

[@Blackchicco11]

❤❤❤Kuhle

[@princenkolothi9142]

How do I get a private banker?

[@njabulogonya3172]

Awe.thank you

[@ropachinhoyi]

you got a new subbie

[@pepper.vloggs]

can i use this card as a business card? 😩😩😩

[@aircraftmechanic5611]

Love the animal farm reference 😂😂👍

[@samusthee4644]

Thank you sis

[@floydfd658]

How do i cancel pos international purchase

[@randomm7942]

I'm using Capitec 😭

[@naturallybecca4360]

They Have a YP Account?

[@kpitjeng3675]

Thanks "friend"

[@compton8301]

Siyabonga! :)

[@rjj479]

Capitec for life 😂

[@nontsikeleloqweba8782]

I haven't seen anyone comment if this prime-1% is fixed or linked, could you maybe clarify? It also doesn't specify on your blog/website link

[@nokuhlekumalo]

Prime = linked. So a change in prime will also change your overall interest.

[@nontsikeleloqweba8782]

@@nokuhlekumalo Thank you! Then just a follow up question, with the linked interest in your experience so far by how many percent have you experienced it increased or decrease in the last year? (e.g 2% max or anything like that)

[@nontsikeleloqweba8782]

@@nokuhlekumalo I'm asking because I've always had the impression that a fixed interest rate is the better option.

[@lebomalope3408]

You forgot Tymebank

[@kpitjeng3675]

It's not a professional account, it's a transactional account

[@blackchild8365]

Discovery is the best bank right now Investec is overrated

[@sandilemabeka2598]

🤔

[@nqubekozondi2545]

Danko🙌🏾

[@nokuhlekumalo]

❤️❤️❤️❤️❤️

[@Lesa-j7q]

Thomas Mark Rodriguez John Robinson Christopher

[@thumaboikihloele2061]

👌👌👌👌👌👌

[@ItsyourfavgalOlly]

Dont forget to watch the ads😊

[@nokuhlekumalo]

😂😂😌🤌🏾 listen, you know the drill.

[@crazy-maxedout8512]

Your so beautiful

[@likeasparrowinthewildernes8333]

,,,,,,2 Esdras2: 29 -100,,,,,,,,,,,,

[@briantaj8213]

hey could you pls do a vid on how to get a bank account for highschool students without jobs please @nokuhle

[@nokuhlekumalo]

Hey you need an adult (your parent / guardian) to be there with you as banks are not allowed to issue a bank card (or open an account) for minors (unless if you are an emancipated minor). 🙏🏾

[@briantaj8213]

well I'm in grade 11, i realized that student credit cards only apply to those registered at colleges and universities' and I'm only in high school so i was just curious about that!@@nokuhlekumalo