With Bonus Save, in addition to the interest you earn over the period of your Savings, you could also qualify for a bonus of 0.50% interest at the end of the Bonus Save term – provided all conditions are met.
There are different terms available for Bonus Save and each term has its own interest rate. For example, you could choose to save for a period of 24 months and earn 3.85% interest, or you could save for a period of 60 months and earn 5.15% interest.
There are options designed to suit your specific needs. Look at our Bonus Save Interest Rates to determine which is right for you. You will be required to do monthly deposits into your Bonus Save account, which is possible through a stop order from your Postbank Card Account. Interest will be credited to your Postbank card account.
If you are serious about saving, this is ideal for you
Benefits of a Bonus Save account:
Ideal for groups or individuals
Save on a regular basis with monthly set deposits put into your Postbank account
R30 needed to make your initial Bonus Save deposit and to open an account
The amount you open the account with will be the fixed monthly Savings for the rest of the term
Choose to invest your money from 12 to 60 months
Possibly qualify for a 0.50% bonus interest rate at the end of the bonus save term - provided that all conditions are met
The full amount you have saved including the interest is credited to your card account at the end of the bonus save term.
Make it work for you
You can potentially earn up to 5.65% interest on your Bonus Save account if you opt for a longer term of between 49 and 60 months at 5.15% interest, and if you complete the term, you will also qualify for a bonus of 0.50% interest at the end of the Bonus Save term - provided all conditions are met.
What is the interest?
If for example you decided to save R500 a month for 24 months, you would have a final balance of R12 000 in the account. Having paid regularly into the account and seen the full term through, you would qualify for4.35% interest (3.85% interest plus 0.50% bonus interest).
Terminating early means you will not only lose your bonus interest but a penalty will also apply.
NB: Always make sure you have enough funds in your card account to cover the monthly stop orders.
How to Apply
You can apply at your nearest Post Office. All you need is your ID document and proof of residential address in order to comply with the Financial Intelligence Centre Act (Fica).