This is a complete list of the best savings accounts in South Africa 2021.
As Grant Cardone would usually say, store 40% of your income every month, if you want to enjoy financial freedom in the future.

1. Absa Fixed Deposit Rates 2021
2. What Is The Best Fixed Deposit Rates
3. Absa Fixed Deposit Rates Calculator
4. Absa Fixed Deposit Rates

Automatic overdraft facility of up to 80% of your fixed deposit Interest on overdraft only charged on the amount and period withdrawn Option to re-invest principal and interest on maturity or re-invest just the principal. Fixed or prime-linked interest rate options Access 10%, 20%, 30%, 40% or 50% of your money immediately Additional interest on balances less than R100 000 for 12 months and longer (if 55 years or older) Additional interest for individual customers who do not access funds from the immediate access portion of their investment.

Saving money is never easy with the cost of living in South Africa.
How would you find the best savings account that offers access to money when you need it and the best annual interest rate?
We'll list the top savings account that offers great benefits in South Africa.
Let's get started.

Savings Account Benefits

Opening a savings account with a bank must give you peace of mind knowing your money is kept safe and will grow in investments over time.
Secondly, what determines a great savings account would be the annual interest rate and easy access to cash.
Look:
If you don't open a savings account, you could misuse the money or risk losing your money.
So, before you think of opening a savings account, it would be wise to shop around and do some good research. This will help you find savings account that best suit your financial plans.
Whichever savings account you're going to go with must pay interest on money in your account. Also, the bank will contribute to your account every month.
The rates depend on the minimum deposits and of course, the bank policies. Some banks pay higher savings account rates due to competition.
Now, here's the best savings account you can choose from in South Africa.

The Best Savings Account in South Africa

ABSA 6 Month Fixed Deposit The interest rate for this fixed period of 6 months as indicated requires greater than R 10,000. The rate of 5.70% - 6.90% is 1.12% lower than the average 6.82%. Also it is 2.27% lower than the highest rate 7.97 Updated Aug, 2019. Or you might want to ask, what is the interest rate for ABSA fixed deposit. If yes, in this post you will learn more about the ABSA Fixed Deposit and Interest Rates. ABSA offers you the opportunity to have a fixed deposit account where you can earn monthly deposit interest based on the amount fixed, term duration as well as interest rates.

South African banks offer various types of savings account, e.g. fixed and tax-free savings accounts.

These accounts were created to assist the working class in South Africa to secure their hard-earned money.

1. FNB Savings Account

FNB helps people save and invest money for unforeseen emergencies and expenses.

The account offers a maximum of 6.05% interest rate per year.

You'll have immediate access to your savings at no fee.

2. Capitec Bank Save

Absa Fixed Deposit Rates 2021

Capitec Bank is popularly known for its offering savings account to students, low-income, and the middle working class.

They offer four different types of savings account:

What Is The Best Fixed Deposit Rates

Transaction and savings - A minimum of R25 earning a minimum of 4.75% interest per year.

A flexible savings plan - You get to choose the amount you'd like to save and the frequency of your deposit. Earn a minimum of 4.75% interest per year with access to the savings anytime.

A fixed-term savings plan - Invest a single amount from R10 000, choose the terms between 6 - 60 months, and earn up to 8.55% interest.

Tax-free savings account - Invest money in your Capitec savings tax-free account and earn interest from R1. Your total savings will not be taxed during the withdrawal unless you've saved over R500 000.

3. African Bank Fixed Deposits

With a minimum deposit of R500, you can earn a maximum interest rate of 10.75% annual payout.
Depending on the terms you choose, African bank offers the best rates in South Africa.
Use the African Bank savings calculator to guide your investments.

4. Absa Tax-Free Savings Account

Invest from R1 000 into the Absa account without paying tax on the interest earned.
You'll have access to the money whenever you need it. There are no monthly fees, so you can add funds into your savings account whenever you want.
You can only save up to R33 000 per year according to tax laws to avoid penalties from SARS.

5. Bidvest Bank Savings Account

Depending on the duration of the investment, you put in a minimum of R10 000 into the Bidvest savings account. Earn up to 7.88% when you invest for 12 months.
It's a fixed deposit account which means you invest once and benefit from the interest charge per month.

They also offer other savings account that requires a minimum of R1 000 but a low-interest rate of 3.2%.

How to open a savings account

All you need to open a savings bank account in South Africa is your SA ID book or valid passport and proof of residence.
Some banks require a minimum deposit into your savings account, so you would need to ask customer service for more details.
Set up a goal and select how long you would like to keep your money in the savings account.
You can open the account online or in-person at the bank. You would need to submit the above-mentioned document in both application methods.
Once your account is active, you can start your saving journey and enjoying the benefits.

Spending your savings

You had a big plan with the money you kept in the savings account. Spend the money however you feel fit - the choice if completely yours.

• Maybe you were saving for a major purchase such as a car you love so much.
• You saved money for vacations with the beloved family.
• Perhaps, it's just an emergency savings account, you know best.

Absa Fixed Deposit Rates Calculator

FNB 1 Year Fixed Deposit: 7.15%: The Interest rates (effective) applicable on this fixed deposit is for a 12 month / 1 year period - ZAR - Aug, 2019: More Info: ABSA 1 Year Fixed Period Deposit: 7.10%: Rate is applicable for a term of 12 months / 1 year fixed period and requires deposits of greater - ZAR - Aug, 2019: More Info: ABSA … African Bank. Your interest rate is fixed for the entire term of your investment. Upon applying for your fixed deposit account, you can provide us with instructions on how to manage the principal and interest in the account upon maturity of the deposit … To open a Fixed Deposit Account for your business, you are required to have a Business Current Account with us. Should you find yourself in financial difficulty due to the Covid-19 impact and need to access your Notice and Fixed deposit funds. This link is being offered for your convenience and Absa Ghana is not responsible for accuracy or security of the information provided. Fixed term deposit account. You can invest any amount with a minimum of R1 000. Bonus Interest Rates … The deposit will be redeemed after a fixed term, e.g. While you are guaranteed a fixed interest on the principal, should you break your deposit prior … Choose your … The content of the website you are visiting is not controlled by Absa Seychelles. Registered office: Stand numbers 4643 and 4644 Elunda Office Park, Addis Ababa Round About, Lusaka, Zambia. 4.57 %. Dynamic Fixed Deposit. Interest may be credited to another account. We use cookies to optimise the user experience. We recommend that you read the privacy policies and terms of the other website. Even though the SARB Governor Lesetja Kganyago announced the decision to cut the Reserve Bank’s repo rate to 3.75% on May 21, African Bank still continued to offer 10.75% interest rate … Deposits in foreign currency: As the rates change on a daily basis, please call our Contact Centre on +248 4383939 during opening hours to request a quote. Let one of our consultants help you get the best account for your needs. You are about to leave the Absa website. ABSA 1 Month Fixed Deposit. Investment can be renewed automatically at maturity, at the current market rate. The content of the website you are visiting is not controlled by Absa. ABSA 6 Month Fixed Deposit The interest rate for this fixed period of 6 months as indicated requires greater than R 10,000. Invest your money for a set period and we will offer you a guaranteed interest rate. Type Fixed: Rate 3.25%: Currency: ZAR: The interest rate indicated is applicable for the ABSA 1 Month deposit product and requires a minimum deposit of greater than R 10,000. African Bank has the best fixed deposits for 2020 with a 12.22% interest rate, followed by Discovery Bank at 9.01% and FNB at 7.80%.. Best 60 months fixed deposit rates 1. 30, 60 or 90 days. Let's help you. Absa … As it is a long-term investment, you will not receive a debit card, so your money will grow at the guaranteed rate. We recommend that you read the privacy policies and terms of the other website. The longer the fixed term, the higher the rate of interest … This link is being offered for your convenience and Absa is not responsible for accuracy or security of the information provided. Interest rates … African Bank. All interest rates are expressed as a percentage per annum and are indicative rates subject to change. Interest can be paid on maturity, monthly, quarterly, annually or bi-annually. You can call us on 0860 111 515 or email savings@absa.co.za . But, as detailed by Moneyweb last week, the 13% … ... You are about to leave the Absa Seychelles website. Currently the displayed interest rate is applicable for a term of 12 months / 1 year fixed period and requires deposits of greater than R 10,000 The rate of 7.10% is 0.3% lower than the average 7.4%. ABSA offers fixed deposit products including standard fixed deposits, a … Please check the latest applicable interest rate. Investment Period: 6 Months: 12 Months: 18 Months: 24 Months: 36 Months: 60 Months: Balance R1000.00 - R100 000.00 Fixed Rate… This account can be used to secure a loan or other banking facility. We use cookies to optimise the user experience. The content of the website you are visiting is not controlled by Absa. Tell me more. You are about to leave the Absa Ghana website. The content of the website you are visiting is not controlled by Absa Botswana. Reply • Ray from Kempton Park, South Africa • R: if I invest 1,5 million for 5 years what is the interest rates I will get To open a fixed deposit account, you are required to have a current or savings account with us. Invest from eight days to five years — and achieve your goals, no matter what they are. ... (registered number C10068913). 5.25 %. The rate of 3.25% is 1.86% lower than the average 5.11%. Choose your ideal interest frequency. For the … You are about to leave the Absa website. Fixed rate. Fixed interest rate, but earn bonus interest of up to 2% if the prime interest rate rises during your investment period Funds are available on 32 days’ notice Able to use your investment to secure an … Bonus Interest Rates … With some of the best interest rates around, opening a savings account with us is a great way to make your money work for you. Not sure which Fixed Deposit you need? You need a minimum deposit of Rs100,000. The rate of 5.70% - 6.90% is 1.12% lower than the average 6.82%. Absa Head Office: Absa Towers West, 15 Troye Street, Johannesburg, Gauteng, South Africa, 2000, Terms Of Use Banking Regulations Policy Statement Security Centre © Copyright. Please check the latest applicable interest rate. The requested site will open in a new window. You are about to leave the Absa Bank Botswana website. Good idea of the Fixed Deposit you want? This link is being offered for your convenience and Absa Botswana is not responsible for accuracy or security of the information provided. You are about to leave the Absa website. All rights reserved Authorised Financial Services Provider and a registered credit provider (NCRCP7), If you're an existing customer contact your Relationship Executive or your Enterprise Banker, or log on to, Authorised Financial Services Provider and a registered credit provider (NCRCP7), Investment renewed automatically at maturity, at the current market rate, Choose your interest frequency – monthly, quarterly, half yearly, annually or on maturity, Interest may be credited to another account, Fixed or prime-linked interest rate options, Access 10%, 20%, 30%, 40% or 50% of your money immediately, Additional interest on balances less than R100 000 for 12 months and longer (if 55 years or older), Additional interest for individual customers who do not access funds from the immediate access portion of their investment, Interest is calculated daily and capitalised monthly. Also it is 1.68 % lower than the highest rate 8.78 Updated Aug, 2019 on ABSA … You may apply for this account along with another applicant. 2.56%. Bidvest. Q: What is the interest rate for R2 000 000.00 for a12 month senior fixed deposit. Interest is calculated flat on the principal … This link is being offered for your convenience and Absa is not responsible for accuracy or security of the information provided. The content of the website you are visiting is not controlled by Absa. Absa … Absa Bank Limited, Registration number 1986/004794/06. The minimum deposit in foreign currency is USD5,000 or the equivalent. If you’re a new customer or you don’t bank with us, call us on: Absa Head Office: Absa Towers West, 15 Troye Street, Johannesburg, Gauteng, South Africa, 2000, Terms Of Use Banking Regulations Policy Statement Security Centre © Copyright. Guaranteed interest rates. Tell me more. Registered in Zambia (registered number 119710006444). To qualify for this offer, move your salary to Absa and: Invest between R10 000 to R1 000 000; … All rights reserved Authorised Financial Services Provider and a registered credit provider (NCRCP7), Authorised Financial Services Provider and a registered credit provider (NCRCP7), Proof of residence (not older than three months), Choose your own investment term — anything from eight days to five years, If you are over 55, and invest up to R100 000 for 12 months or longer, you will qualify for bonus interest. The content of the website you are visiting is not controlled by Absa Ghana. It is an interest-bearing bank deposit available in both the local currency and a range of foreign currencies. Also it is 3.4 % lower than the highest rate … Standard Bank. R1 000. Also it is 2.27 … South Africa's fixed deposit rates compared . 8 days to 5 years: Fixed or prime-linked interest rate options; Access 10%, 20%, 30%, 40% or 50% of your money immediately; Additional interest on balances less than R100 000 … Get Free December Report. Get Started . In our summary, we introduce you to the single deposit … If you're an existing customer contact your Relationship Executive or your Enterprise Banker, or log on to Absa Online and click on the Save and Invest tab. The requested site will open in a new window. You may also call 0860 111 515, alternatively, you can email saving@absa.co.za. New Gold Value Bundle and Premium Banking customers get a preferential interest rate on the Dynamic Fixed Deposit when they move their salary to Absa. Choose your investment term, at a guaranteed fixed interest rate. Absa’s special offer of 13% interest on five-year fixed deposits has caught the attention of many investors looking to park cash somewhere. Enquire right away. To open a fixed deposit account for your business, you are required to have a business current account with us. A minimum deposit is required. Absa Bank Limited, Registration number 1986/004794/06. Get fast-tracked here. ... Let us tell you about a Fixed-term Deposit … Interest rate: up to 8.50% nominal interest rate The Capitec Fixed term savings plan has 2 options, the single deposit option and multiple deposits. Best 3 Month Rates. Invest your money for a set period and we offer you a guaranteed interest rate. Sitemap Absa Bank Zambia PLC. ... Interest Rates for Dynamic Fixed Deposit. You may apply for the Fixed Deposit Account Online, or you may visit the nearest Absa branch. Including standard fixed deposits, a … you are about to leave the Absa Ghana website saving... Is 1.68 % lower than the average 6.82 % is 1.12 % lower than the 6.82! Best account for your convenience and Absa is not controlled by Absa Seychelles set. 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Absa Fixed Deposit Rates

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