Bakgotsi Fees and Interest

Bakgotsi Fees and Interest

 
Fees with effect from 1st April 2017:

Account opening fee

Free

Minimum opening deposit

R 50.00

Minimum account balance

R 0.00

Deposits (Cash)

R 2.00 up to R100.00, thereafter an additional R 2.00 per R100.00 or part thereof above R100.01

Deposits (Cheque)

Free

Dishonoured Cheque

R 77.00

Special clearance of cheque deposits

R 90.00

Withdrawals (Cash) Branch

R 13.00

Withdrawals (Cheque) Branch

R 40.00

Monthly Account Maintenance

Free

Replacement: Smart Save Book

R 87.00

Account Dormancy Fee

Free

Repayment from unclaimed funds

R 50.00

Full Statement (Counter)

R 13.00

Full Statement (Mailed on request)

R 13.00

Mini statements and balance enquiries (Branch)

Free

Interest with effect from 21 July 2017:

On balance (Rand)

Interest Rate (% pa)

0 - 5 000

3.10%

5 000.01 - 10 000

3.40%

10 000.01 - 20 000

3.45%

20 000.01 - 30 000

3.65%

30 000.01 - plus

4.80%

NB: Interest is calculated on a daily balance and credited to the account on the last day of every month.

What is the interest?

A balance of R 5000 in the Bakgotsi account for example earns3.10% interest per year which equals R155.00 per year (about .42 cents a day and about R12.60 a month). You must remember that the higher the balance in this account, the better interest you earn. Balances of R30 000.01 and above earn 4.80% interest per year.

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