We all know that saving is important, but it’s important to identify what you’re saving for and how to reach your goals. There are a number of Interest Calculators for South Africa to get you started.

Many people can tell you how to save, but in the end, it’s best to ask the banks directly!

Interest Calculators for South Africa

Standard Bank

There are many good reasons to save. Perhaps you’re looking to buy new furniture. Maybe you want to save for a deposit on a house. Maybe you just want to have some spare cash for a rainy day.

Whatever your reasons, Standard Bank offers many types of savings and investment accounts to meet your short and long-term savings goals.

Take a look at their simple interest calculator here.

Capitec

Capitec has a range of options when it comes to saving money, and it all starts with working out how much you want to save, and what you’ll gain by saving with Capitec.

Visit their savings calculator here.

Nedbank

Nedbank has a great loan calculator that you can use to see how much you can borrow, and how much it will cost you to pay back. It’s ideal for people who are interested in taking up a personal loan.

MFC Bank

What is you want to buy a car? With MFC, a division of Nedbank, this is easy to do. You can calculate your monthly instalment based on vehicle price, the deposit you can afford to put down and a preferred repayment period. See the calculator here.

With these calculators you’ll be on your way to choosing the best loan or savings plan, based on your ability to afford the instalments.