We’ve made saving easy with our highly competitive interest rates, and quick access to your savings plans on our app.
The savings interest rates and fees below are effective as of 1 April 2024.
Rates and fees
Rates and fees
One monthly administration fee
R7.50
Main savings account
| Amount (R) | R0 - R24 999 | R25 000 - R99 999 | R100 000 - R249 999 | R250 000 + | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A | 4.20% | N/A | 5.60% | N/A | 7.15% | N/A |
| Amount (R) | R0 - R24 999 | R25 000 - R99 999 | R100 000 - R249 999 | R250 000 + | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A | 4.20% | N/A | 5.60% | N/A | 7.15% | N/A |
| R0 - R24 999 | ||
|---|---|---|
| Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A |
| R25 000 - R99 999 | ||
| Nominal | Effective | |
| Interest rate (%) | 4.20% | N/A |
| R100 000 - R249 999 | ||
| Nominal | Effective | |
| Interest rate (%) | 5.60% | N/A |
| R250 000 + | ||
| Nominal | Effective | |
| Interest rate (%) | 7.15% | N/A |
All interest rates quoted are nominal annual compounded monthly (NACM) rates.
Flexible savings plan
| Amount (R) | R0 - R24 999 | R25 000 - R99 999 | R100 000 - R249 999 | R250 000 + | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A | 4.20% | N/A | 5.60% | N/A | 7.15% | N/A |
| Amount (R) | R0 - R24 999 | R25 000 - R99 999 | R100 000 - R249 999 | R250 000 + | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A | 4.20% | N/A | 5.60% | N/A | 7.15% | N/A |
| R0 - R24 999 | ||
|---|---|---|
| Nominal | Effective | |
| Interest rate (%) | 3.20% | N/A |
| R25 000 - R99 999 | ||
| Nominal | Effective | |
| Interest rate (%) | 4.20% | N/A |
| R100 000 - R249 999 | ||
| Nominal | Effective | |
| Interest rate (%) | 5.60% | N/A |
| R250 000 + | ||
| Nominal | Effective | |
| Interest rate (%) | 7.15% | N/A |
All interest rates quoted are nominal annual compounded monthly (NACM) rates.
Fixed-term savings plan (single deposit option)
The nominal rate is when the interest from your fixed deposit account is paid out every month, and not reinvested. The effective rate is higher because you earn interest on the interest that is reinvested in your fixed deposit account.
Fixed-term savings plan (multiple deposits option)
The nominal rate is when the interest from your fixed deposit account is paid out every month, and not reinvested. The effective rate is higher because you earn interest on the interest that is reinvested in your fixed deposit account.
Tax-free savings plan
| Term (Months) | R0 - R9 999 | R10 000 - R74 999 | R75 000 - R249 999 | R250 000+ | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| 12 | 3.20% | 3.25% | 7.70% | 7.98% | 7.75% | 8.03% | 7.80% | 8.08% |
| 13 - 18 | 3.20% | 3.25% | 7.75% | 8.03% | 7.80% | 8.08% | 7.85% | 8.14% |
| 19 - 24 | 3.20% | 3.25% | 7.80% | 8.08% | 7.85% | 8.14% | 7.90% | 8.19% |
| 25 - 36 | 3.20% | 3.25% | 7.85% | 8.14% | 7.90% | 8.19% | 7.95% | 8.25% |
| 37 - 48 | 3.20% | 3.25% | 7.90% | 8.19% | 7.95% | 8.25% | 8.00% | 8.30% |
| 49 - 60 | 3.20% | 3.25% | 7.95% | 8.25% | 8.00% | 8.30% | 8.05% | 8.35% |
| Term (Months) | R0 - R9 999 | R10 000 - R74 999 | R75 000 - R249 999 | R250 000+ | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| 12 | 3.20% | 3.25% | 7.70% | 7.98% | 7.75% | 8.03% | 7.80% | 8.08% |
| 13 - 18 | 3.20% | 3.25% | 7.75% | 8.03% | 7.80% | 8.08% | 7.85% | 8.14% |
| 19 - 24 | 3.20% | 3.25% | 7.80% | 8.08% | 7.85% | 8.14% | 7.90% | 8.19% |
| 25 - 36 | 3.20% | 3.25% | 7.85% | 8.14% | 7.90% | 8.19% | 7.95% | 8.25% |
| 37 - 48 | 3.20% | 3.25% | 7.90% | 8.19% | 7.95% | 8.25% | 8.00% | 8.30% |
| 49 - 60 | 3.20% | 3.25% | 7.95% | 8.25% | 8.00% | 8.30% | 8.05% | 8.35% |
| R0 - R9 999 | ||
|---|---|---|
| Nominal | Effective | |
| 12 | 3.20% | 3.25% |
| 13 - 18 | 3.20% | 3.25% |
| 19 - 24 | 3.20% | 3.25% |
| 25 - 36 | 3.20% | 3.25% |
| 37 - 48 | 3.20% | 3.25% |
| 49 - 60 | 3.20% | 3.25% |
| R10 000 - R74 999 | ||
| Nominal | Effective | |
| 12 | 7.70% | 7.98% |
| 13 - 18 | 7.75% | 8.03% |
| 19 - 24 | 7.80% | 8.08% |
| 25 - 36 | 7.85% | 8.14% |
| 37 - 48 | 7.90% | 8.19% |
| 49 - 60 | 7.95% | 8.25% |
| R75 000 - R249 999 | ||
| Nominal | Effective | |
| 12 | 7.75% | 8.03% |
| 13 - 18 | 7.80% | 8.08% |
| 19 - 24 | 7.85% | 8.14% |
| 25 - 36 | 7.90% | 8.19% |
| 37 - 48 | 7.95% | 8.25% |
| 49 - 60 | 8.00% | 8.30% |
| R250 000+ | ||
| Nominal | Effective | |
| 12 | 7.80% | 8.08% |
| 13 - 18 | 7.85% | 8.14% |
| 19 - 24 | 7.90% | 8.19% |
| 25 - 36 | 7.95% | 8.25% |
| 37 - 48 | 8.00% | 8.30% |
| 49 - 60 | 8.05% | 8.35% |
A fee of R300 applies for early access to your money.
The nominal rate is when the interest from your fixed deposit account is paid out every month, and not reinvested. The effective rate is higher because you earn interest on the interest that is reinvested in your fixed deposit account.
