Term save plus fees and interest
 

Term Save Plus Fees and Interest

 
Fees with effect from 1st April 2017:

Replacement: Term Deposit Confirmation Advice

R35.00

The current interest rate is fixed for 24 months and two interest rate payment options are available (6 monthly and 24 months).

Interest with effect from 21 July 2017:

Amount in Rand

Interest Rate (%)

Up to R10 000 on 6 months interest rate option

6.15%

Above R10 000 on 6 months interest rate option

6.40%

Up to R10 000 on 24 months (maturity) interest rate option

6.40%

Above R10 000 payable on 24 months (maturity) interest rate option

6.65%

What is the interest?

Interest is calculated and credited to the customer’s Postbank card-or book account. Interest is fixed for the duration of the investment term (i.e. 24 months ). Thereafter the investment term will renew for another 24 months unless you apply for redemption of your funds. Penalty interest of 2.4% will be charged for Term Save Plus investments pre redeemed before maturity.

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