Smart Save Fees and Interest

Smart Save for Minors Fees and Interest

Fees with effect from 1st April 2017:

Account opening fee


Minimum opening deposit

R 10.00

Minimum account balance

R 0.00

Deposits (Cash)

R 2.00 up to R100.00, thereafter an additional R 2.00 per R100.00 or part thereof above R100.01

Deposits (Cheque)


Dishonoured Cheque

R 77.00

Special clearance of cheque deposits

R 90.00

Withdrawals (Cash) Branch

R 13.00

Withdrawals (Cheque) Branch

R 40.00

Monthly Account Maintenance


Replacement: Smart Save Book

R 87.00

Account Dormancy Fee


Repayment from unclaimed funds

R 50.00

Full Statement (Counter)

R 13.00

Full Statement (Mailed on request)

R 13.00

Mini statements and balance enquiries (Branch)


Interest with effect from 21 July 2017:


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 R20 000 in the account for example earns 1.70% interest per year which equals R340.00 per year (about 94 cents a day and about R28.33 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.