Looking for the best bank to keep your money? With so many banks in South Africa that offer multiple savings accounts each, it can be extremely confusing.
- Fixed Deposit Rates In India
- Which Bank Is Best For Fixed Deposit South Africa
- Which Bank Is The Best For Fixed Deposit In Nigeria
- African Bank Fixed Deposit
FOREX RATES: USDKES Buying 107.3000 Selling 113.8000 GBPKES Buying 149.2479 Selling 158.7479 EURKES Buying 129.3697 Selling 137.7197 INRKES Buying 1.3840 Selling 1.5840 ZARKES Buying 7.2470 Selling 8.5178 AEDKES Buying 29.3625 Selling 30.6727 YENKES Buying 1.0223 Selling 1.2845 SARKES Buying 28.2487 Selling 30.1535 Please call us on: +254 (20) 2710640/654/659 TO SERVE. Access Bank fixed deposit account interest rate. Access bank interest rate for fixed deposit is slightly higher as if you deposit 600,000 Naira into fixed deposit, it will appreciate by 4% after 30 days of investment. If after 60 days, the money isn’t touched, it will increase by 4.35%. Then after 90 days, it will increase by 4.5%.
I know because I’m in the process of finding the best savings bank account myself. I was astounded by the lack of information online so I thought I better research my findings.
To make life a bit easier for you, below you’ll find a breakdown of the best interest rates on savings accounts within South Africa. Hope this helps!
Fixed Deposit Rates In India
1. African Bank fixed deposit account tops the list! Their interest rates start out at 7.7% interest for the first 3 months and can be increased to as much as 10.75% interest the longer you hold your money, which is outstanding. [View Bank]
Side note: As discussed in this quora post, only the best investors in the world achieve a 10% return on their investment in the long term. So finding a bank that offers 10% interest on your money is truly special.
2. Tyme bank GoalSave account tops the list. They offer the best interest rate at 6% interest per annum from 1-30 days after the money has been added to your account. This increases the longer you hold your money to us much as 10% interest. Unfortunately your maximum initial investment is capped at R10,000. This can be increased to up to R100,000. [View Bank]
3. Capitec Global One account offers 4.75% interest on your everyday account which can be increased the more you deposit. Over R100,000 will give you a 5.5% interest rate. However, with a fixed savings account they offer as much 8.55% interest. [View Bank]
4. Nedbank offers a wide range of flexible and fixed term savings accounts. A fixed term savings account offers from 6.5% to 8% interest rates depending on the term and amount you deposit. [View Bank]
05. Absa interest rates for savings account ranges from 3.5% to 6.9% depending on the account selected and amount deposited. I highly suggest your minimum deposit is over R10,000 to make it worth your while. Their fixed deposits offer interest rates between 7.10% to 7.6%. [View Bank]
Which Bank Is Best For Fixed Deposit South Africa
06. Standard bank also has a big variety of savings account options. They offer interest rates from as low as 2% to as high as 9% depending on how much you deposit, and how quickly you would like access to that money. They have 4 “accessibility” options so make sure you check out the bank to get a detailed description. [View Bank]
07. FNB has a high initial interest rate of 5% on a low deposit, however on the other side of the spectrum they max out at only a 6% interest rate for investments of R100,000 plus. Which is extremely poor compared to option 1-6. [View Bank]
Did we miss a bank? Or did we miss any info? Please let us know below. Hope this information saves you a few hours of research. I know I wish I had it when I was researching my savings account.
African Bank Tax Free Investment
An African Bank Tax-free Investment, provides you with an opportunity to save money and enjoy returns without incurring tax costs on the interest earned.
The investment is fixed for a period of 12 months. Funds can, however, be accessed within 48 hours where circumstances require urgent access. Early withdrawal of up to 10% of the value of the initial investment is possible.
As per the applicable legislation, the annual limit is R30,000 per customer.
Which Bank Is The Best For Fixed Deposit In Nigeria
African Bank Fixed Deposit
