Terms Save Plus Fees and Interest
Fees with effect from 02 April 2024:
Minimum opening deposit |
R1 000.00 |
Deposits (cash) |
Free |
Redemptions |
Free |
Replacement of lost Term Deposit Confirmation Advice |
R 42.00 |
The current interest rate on Term Save is tiered based on period of investment. Interest is calculated and credited to the customer’s card or book account 6 monthly, or at maturity of the investment. Interest with effect from 22 Nov 2024: |
|
Term Save Plus |
(Interest paid 6 monthly) |
Amounts up to R10 000 |
6.75% |
Amounts above R10 000 |
7.00% |
Term Save Plus |
(Interest paid on maturity - 24 months) |
Amounts up to R10 000 |
6.90% |
Amounts above R10 000 |
7.15% |
How is interest calculated?
Interest is fixed for the duration of the investment term. Penalty interest of 1.05% will be charged and deducted for Term Save Plus investments if redeemed before maturity.
