SA Post Office Bank

Smart Save Fees and Interest

Smart Save for Minors Fees and Interest

Fees with effect from 03 April 2018:

Account opening fee


Minimum opening deposit

R 10.00

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)


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


Replacement: Smart Save Book

R 87.00

Account Dormancy Fee


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)


Interest with effect from 23 November 2018:


On balance (Rand)

Interest Rate (% pa)

0 - 50


50.01 - 5 000


5 000.01 - 15 000


15 000.01 - 25 000


25 000.01 - plus


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

What is the interest?

Smart Save for Minors is a short term Savings account, so the interest is not very high but you do get immediate access to your cash. A balance of R 20,000 in the account for example earns 1.80% interest per year which equals R360.00 per year (about R1.00 cents a day and about R30.00 a month). If you need access to your cash but still want to earn a little interest, then Smart Save for Minors is the account for you.