Smart Save Fees and Interest
Fees with effect from 30 April 2026:
Account opening fee |
Free |
Minimum opening deposit |
R 50.00 |
Minimum account balance |
R 0.00 |
Monthly service/ledger fee |
Free |
Account Dormancy fee |
Free |
Cash Deposit Standard Bank ATMs |
R15.00 + R2.50/100 |
Cardless Withdrawal at ABSA / Standard Bank ATMs and participating Supermarket Retail stores |
R15.00 + R2.50/100 |
Close-out EFT (Back-office) |
R 21.40 |
Repayment from unclaimed funds |
R 77.00 |
Full Statement up to 3 months |
R 22.00 |
Full Statement 4 months and older |
R 45.00 |
Mini statements and balance enquiries |
Free |
Interest with effect from 29 May 2026: |
|
On balance (Rand) |
Interest Rate (% pa) |
0 - 50 |
3.65% |
50.01 - 5 000 |
3.70% |
5 000.01 - 15 000 |
3.85% |
15 000.01 - 25 000 |
3.95% |
25 000.01 - plus |
4.10% |
NB: Interest is calculated on a daily balance and credited to the account on the last day of every month.
How is interest calculated?
Smart Save is a short-term Savings account, so the interest is not very high, but you do get immediate access to your cash. A balance of R 15,000 in the account for example earns 3.85% interest per year which equals R577.50 per year (about R1.55 a day and about R48.12 a month). If you need access to your cash but still want to earn a little interest, then Smart Save is the account for you.
