Bakgotsi Fees and Interest

Bakgotsi Fees and Interest

Fees with effect from 03 April 2018:

Account opening fee

Free

Minimum opening deposit

R 50.00

Minimum account balance

R 0.00

Deposits (Cash)

R 2.10 up to R100.00, thereafter an additional R 2.10 per R100.00 or part thereof above R100.01

Deposits (Cheque)

Free

Dishonoured Cheque

R 80.00

Special clearance of cheque deposits

R 94.00

Withdrawals (Cash) Branch

R 12.60

Withdrawals (Cheque) Branch

R 42.00

Monthly service/ledger fee

Free

Replacement: Smart Save Book

R 87.00

Account Dormancy Fee

Free

Repayment of Unclaimed Funds

R 52.00

Full Statement (Counter)

R 13.60

Full Statement (Mailed on request)

R 13.60

Mini statements and balance enquiries (Branch)

Free

Interest with effect from 23 November 2018:

 

On balance (Rand)

Interest Rate (% pa)

0 - 5 000

3.20%

5 000.01 - 10 000

3.50%

10 000.01 - 20 000

3.55%

20 000.01 - 30 000

3.75%

30 000.01 - plus

4.90%

NB: Interest is calculated on a daily balance and credited to the account on the last day of every month.

What is the interest?

A balance of R 5, 000 in the Bakgotsi account for example earns 3.20% interest per year which equals R160.00 per year (about .44 cents a day and about R13.33 a month). You must remember that the higher the balance in this account, the better interest you earn. Balances of R30 000.01 and above earn 4.90% interest per year.