Bank Duration Product Rate Earnings on 100.000 Minimum amount Other parameters Updated on; African Bank: 60 months: Fixed Deposit: 11,11%: 786,96/month 9.444/year. Standard Chartered 0.85% p.a. S$5,000-S$500,000 60 mo. Standard Chartered 0.95% p.a. S$5,000-S$500,000 Banks with highest interest rates displayed for each given tenor. Fixed deposit accounts are a low-risk form of investment that allow consumers to earn interest on funds placed with the bank.

• African Bank Fixed Deposit Interest Rates 2019
• African Bank Fixed Deposit Withdrawal
• Fixed Deposit Rate
• Fixed Deposit Rates In India
• Commercial Bank Fixed Deposit Rates
• Bank Fixed Deposit Rates

As one of the biggest banks in South Africa, African Bank specialises in providing quality transactional, savings, investment and credit solutions for clients all over the country. The bank offers a range of services, tailored to meet your unique needs.

As a registered credit provider, African Bank is also registered with the National Credit Regulator. Its services are fully compliant with the National Credit Act.

The bank offers a number of investment tools.

The African Bank Fixed Deposit Investment Account is one such offer.

What is a fixed deposit?

These savings accounts tie up the investor’s money for a term specified in advance.

Tell me more about the African Bank Fixed Deposit Investment Account?

Investing doesn’t have to be expensive. This account requires a minimum opening account amount of R500. Investment terms range from 3 months to 60 months. You can invest a lump sum for a fixed period.

The interest rate does not change for the duration of your investment, giving you the assurance of a fixed amount that you’ll earn in interest returns every month.

Interest is paid out monthly, every 6 months, every 12 months or upon maturity.

Additional deposits are allowed for the first 7 days after initial funding. After this, you’ll only earn interest on the amount that you have invested.

Interest amounts range from 7% to 10.25%. These rates are highly competitive and some of the best in the market.

If you do need to withdraw your funds, you can contact African Bank and fill in the necessary withdrawal form. In exceptional cases the customer can apply to the bank for early withdrawal of the funds- this is at the bank’s discretion and a penalty fee will apply.

To contact African Bank, call: 011 256-9000 or send an email to insuranceclaims@africanbank.co.za

Visit www.africanbank.co.za

Looking for the best bank to keep your money? With so many banks in South Africa that offer multiple savings accounts each, it can be extremely confusing.

I know because I’m in the process of finding the best savings bank account myself. I was astounded by the lack of information online so I thought I better research my findings.

To make life a bit easier for you, below you’ll find a breakdown of the best interest rates on savings accounts within South Africa. Hope this helps!

1. African Bank fixed deposit account tops the list! Their interest rates start out at 7.7% interest for the first 3 months and can be increased to as much as 10.75% interest the longer you hold your money, which is outstanding. [View Bank]

African Bank Fixed Deposit Interest Rates 2019

Side note: As discussed in this quora post, only the best investors in the world achieve a 10% return on their investment in the long term. So finding a bank that offers 10% interest on your money is truly special.

2. Tyme bank GoalSave account tops the list. They offer the best interest rate at 6% interest per annum from 1-30 days after the money has been added to your account. This increases the longer you hold your money to us much as 10% interest. Unfortunately your maximum initial investment is capped at R10,000. This can be increased to up to R100,000. [View Bank]

African Bank Fixed Deposit Withdrawal

3. Capitec Global One account offers 4.75% interest on your everyday account which can be increased the more you deposit. Over R100,000 will give you a 5.5% interest rate. However, with a fixed savings account they offer as much 8.55% interest. [View Bank]

Fixed Deposit Rate

4. Nedbank offers a wide range of flexible and fixed term savings accounts. A fixed term savings account offers from 6.5% to 8% interest rates depending on the term and amount you deposit. [View Bank]

05. Absa interest rates for savings account ranges from 3.5% to 6.9% depending on the account selected and amount deposited. I highly suggest your minimum deposit is over R10,000 to make it worth your while. Their fixed deposits offer interest rates between 7.10% to 7.6%. [View Bank]

Fixed Deposit Rates In India

06. Standard bank also has a big variety of savings account options. They offer interest rates from as low as 2% to as high as 9% depending on how much you deposit, and how quickly you would like access to that money. They have 4 “accessibility” options so make sure you check out the bank to get a detailed description. [View Bank]

Commercial Bank Fixed Deposit Rates

07. FNB has a high initial interest rate of 5% on a low deposit, however on the other side of the spectrum they max out at only a 6% interest rate for investments of R100,000 plus. Which is extremely poor compared to option 1-6. [View Bank]

Bank Fixed Deposit Rates

Did we miss a bank? Or did we miss any info? Please let us know below. Hope this information saves you a few hours of research. I know I wish I had it when I was researching my savings account.