Terms Save Fees and Interest
Fees with effect from 02 April 2024:
Minimum opening deposit |
R1 000.00 |
Deposits (cash) |
Free |
Redemptions |
Free |
Replacement of lost Term Deposit Confirmation Advice |
R 42.00 |
The current interest rate on Term Save is tiered based on period of investment. Interest is calculated and credited to the customer’s card or book account monthly, or at maturity of the investment. Interest with effect from 26 May 2023: |
|
Term of Term Deposit |
Interest Rate (% pa) |
1 - 2 Months (up to R10 000) |
5.85% |
1 - 2 Months ( above R10 000) |
6.75% |
3 Months (up to R10 000) |
6.20% |
3 Months (above R10 000) |
7.10% |
4 Months (up to R10 000) |
6.30% |
4 Months (above R10 000) |
7.20% |
5 Months (up to R10 000) |
6.65% |
5 Months (above R10 000) |
7.30% |
6 Months (up to R10 000) |
7.00% |
6 Months (above R10 000) |
7.40% |
7 - 12 Months (up to R10 000) |
7.35% |
7 - 12 Months (above R10 000) |
7.50% |
How is interest calculated?
Interest is fixed for the duration of the investment term. Penalty interest of 1.00% will be charged and deducted for Term Save investments if redeemed before maturity.
