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    fixed-term savings plan (multiple deposit option)

    Invest 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 5% – 7.4% 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+
    Nominal Effective Nominal Effective Nominal Effective Nominal Effective
      6 5.00% 5.12% 5.75%

    5.90%

    5.90%

    6.06%

    6.50%

    6.70%

    7 – 9

    5.00% 5.12% 6.15%

    6.33%

    6.30%

    6.49%

    6.65%

    6.86%

    10 – 12 5.00% 5.12% 6.45%

    6.64%

    6.80%

    7.02%

    6.90%

    7.12%

    13 – 18 5.00% 5.12% 6.60%

    6.80%

    6.90%

    7.12%

    6.95%

    7.18%

    19 – 24 5.00% 5.12% 7.25%

    7.50%

    7.30%

    7.55%

    7.40%

    7.66%

    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.