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    save

    saving's the name of the game

    With Global One, you earn highly competitive interest rates, pay lower fees and can have up to 4 extra savings plans.

    Transaction/Savings account

    The transaction/savings account is your main account (R25 minimum balance; R5 monthly admin fee) that gives you affordable banking and up to 4 extra flexible, fixed or tax-free savings plans. Some of the benefits of the transaction/savings account:

    • Earn from 4.5% interest per year on daily balances
    • Easiest transactions at lower, transparent bank costs
    • Easy access to your money using your Global One card and Remote Banking

    Flexible savings

    • Earn from 4.5% interest per year on daily balances
    • Choose your deposit amount and the frequency of your deposits
    • Choose a name for your plan
    • Access your plan any time through Remote Banking or our ATMs
    • No monthly admin fee or minimum balance

    Fixed-term savings

    • Choose your deposit option:
      • Single deposit : 6 – 60 months, R5 million maximum investment with a minimum balance of R10 000
      • Multiple deposits : 6 – 24 months, R1 million maximum investment
    • Reinvest the interest or transfer it to your transaction/savings account
    • Interest rate fixed for the full term
    • Money available on the maturity date
    • After maturity the account will become a flexible savings account, which you can refix
    • No monthly admin fee

    Tax-free savings

    • You can open one tax-free savings account at any of our branches
    • Deposit any amount up to R30 000 per year (single or multiple deposits)
    • Choose any investment term from 12 – 24 months
    • Interest will be earned from R1
    • A fee of R300 applies for early access to your money

    South African Revenue Service (SARS) rules

    • Contribution limits
      • Your combined limit for the financial year (1 March – 28 February) across all tax-free savings accounts, including those at other financial services providers, is R30 000
      • Lifetime limit is R500 000
      • Contributions over these limits are taxed at 40%
    • Interest earned will not be taxed
    • Money withdrawn cannot be replaced
    • Money may not be transferred to a tax-free savings account at another financial services provider
    • Other savings plans may not be converted to a tax-free savings account