With one of the most attractive interest rates around, Term Save Plus gives you the potential to really make your money grow. If you have a lump sum of money which you can afford to put away for at least two years, Term Save Plus is the perfect Term Deposit account.
Interest is fixed for the duration of the investment term of 24 months and will be adjusted to the going rate upon renewal. Interest is calculated on a simple interest rate basis, i.e. interest is calculated for the duration of the Term Save Plus on the deposit amount only and not on previously interest earned.
Interest is credited to your Postbank account of choice at the end of each investment term of 24 months or every six months (a lower rate will apply to the six-month option). The Term Save Plus is automatically renewed for another 24 months unless you choose to redeem your funds by application at any Post Office retail branch.
Benefits of Term Save Plus:
A minimum of R1 000 is needed to start investing
There is no limitation on the maximum amount
The deposit is fixed for a period of 24 months
Interest can be paid to your Postbank account either 6 monthly or at Maturity / auto renewal
Make it work for you
Term Save Plus offers a really attractive interest rate, so if you receive a lump sum of money this is one of the best places to put it. The Term Save Plus term is fixed for 24 months so make sure that you won’t need these funds for a least 2 years.
How to Apply
You can apply at your nearest Post Office. You need your ID document and proof of residential address in order to comply with the Financial Intelligence Centre Act (Fica).