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fixed-term savings plan (multiple deposit option)

Invest for 6 – 24 months, R1 million maximum investment

How it works

  • You choose how long you want to invest (6 – 24 months)
  • You decide how much and how often you would like to deposit, up to a total of R1 million
  • Earn from 4.50% – 6.90% interest (nominal interest rate)

Benefits

The benefits of the fixed-term savings plan:

  • Reinvest the interest or transfer it to your main savings account
  • Interest rate fixed for the full term
  • Money available on the maturity date
  • After maturity, the account becomes a flexible savings plan, which you can refix
  • No monthly fee
Term (Months)R0
– R9 999
R10 000
– R24 999
R25 000
– R99 999
R100 000+
 NominalEffectiveNominalEffectiveNominalEffectiveNominalEffective
64.50%4.59%5.65%5.80%5.80%5.96%6.05%6.22%
7 – 94.50%4.59%5.85%6.01%5.90%6.06%6.30%6.49%
10 – 124.50%4.59%6.05%6.22%6.35%6.54%6.45%6.64%
13 – 184.50%4.59%6.20%6.38%6.50%6.70%6.60%6.80%
19 – 244.50%4.59%6.75%6.96%6.80%7.02%6.90%7.12%
R0– R9 999
 NominalEffective
64.50%4.59%
7 – 94.50%4.59%
10 – 124.50%4.59%
13 – 184.50%4.59%
19 – 244.50%4.59%
R10 000– R24 999
 NominalEffective
65.65%5.80%
7 – 95.85%6.01%
10 – 126.05%6.22%
13 – 186.20%6.38%
19 – 246.75%6.96%
R25 000– R99 999
 NominalEffective
65.80%5.96%
7 – 95.90%6.06%
10 – 126.35%6.54%
13 – 186.50%6.70%
19 – 246.80%7.02%
R100 000+
 NominalEffective
66.05%6.22%
7 – 96.30%6.49%
10 – 126.45%6.64%
13 – 186.60%6.80%
19 – 246.90%7.12%

The nominal interest rate is used to calculate the daily interest earned on your account balance, which accumulates until it is capitalised on an agreed date every month. The interest is then either reinvested or transferred to your savings account.

The effective annual interest rate is calculated by taking into account the fact that interest is earned on capitalised interest over a period 12 months.



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