If you are looking to save money for opening a savings account is the best solution as the money will be earning interest while you put away money for the specific goal like retirement. All major banks in South Africa offer savings accounts, and each has different features, so do your research to help you find a the ideal savings account for your needs.
Depending on which type of savings account you need, you can find one that suits your individual needs, so that you can save your money effortlessly and have cash available during an emergency. You can also decide to set aside a certain amount of money every month to gradually build up your savings account over the longer term and benefit from the best online savings account rates.
Online Services
From one of the best benefits of our banks is the ability for you to open an online savings account. This means that you don’t have to go and stand in a branch, as you can simply complete your application online and upload all your supporting documents.
- Standard Bank. Standard Bank offers a savings account for every individual need. Their AccessSave allows you to have access to money within seven days and set the three-month savings target to earn bonus interest. When you reach your goal. You will get free updates to help keep your account secure and there are no monthly management fees payable.
- Capitec Bank. Capitec bank offers you a savings account where you can earn up to 9.75% interest. The boss from highly competitive interest rates you also benefit from lower fees and you can have up to 4 additional savings plans. As long as you update a minimum of R25 in your account your account will remain open and you can access your money using their mobile app as well as cell phone and Internet banking.
- FNB offers a range of savings account options, and this includes their smart account, you can get salary switching facilities, FNB rewards, e-mailed statements, a debit card, as well as free subscriptions to online banking, cellphone banking, and telephone banking.
