Discovery Bank
Hybrid Fixed Deposit Account
Up to 7.17% interest
A Hybrid Fixed Deposit Account is ideal for when you want to benefit from the higher interest rates of a fixed-term investment and still have the ability to immediately access a portion of your money.
Why choose a Hybrid Fixed Deposit Account
A Hybrid Fixed Deposit Account offers you the higher returns of a fixed-deposit investment, with the freedom to immediately withdraw an accessible portion at any time during the investment period, with no penalties.
Up to 7.17% interest
Earn higher interest on your savings over a fixed period
Access 10%, 20% or 30% of the initial investment
What can you do with a Hybrid Fixed Deposit Account
- Invest a minimum balance of R10,000.
- Choose your investment term, from 3 to 24 months.
- Get instant access to 10%, 20% or 30% of your investment, the rest stays fixed for the investment term.
What fees and charges do you pay on a Hybrid Fixed Deposit Account?
- No monthly fee.
- Withdrawals from the fixed portion of funds in your account before the end of your chosen investment term may have a penalty fee.
What interest can you get with a Hybrid Fixed Deposit Account?
| FIXED TERM | ACCESSIBLE PORTION | ||
|---|---|---|---|
| 10% | 20% | 30% | |
| 3 months | 6.77% | 6.68% | 6.60% |
| 6 months | 6.95% | 6.84% | 6.74% |
| 12 months | 7.17% | 7.04% | 6.91% |
| 18 months | 7.13% | 7.00% | 6.88% |
| 24 months | 7.17% | 7.04% | 6.91% |
We quote your interest at nominal annual compounded monthly (NACM) and period effective rates. The Nominal Annual Compounded Monthly (NACM) interest is the actual interest earned over a one-month period. All interest rates and fees are as at the publication date.
Automatic corporation for deposit insurance (CODI) cover of up to R100,000 per depositor in case of a bank failure and its liquidation. Remember that our savings accounts don't come with bank cards. You can get physical and virtual bank cards when you open a transaction or credit card account.
How do you apply for a Hybrid Fixed Deposit Account?
- Log in to your Discovery Bank app.
- Tap Accounts.
- Select the three dots top right and choose Add account.
- Tap Save and Invest.
- Scroll down to the Hybrid Fixed Deposit tile and select Get this.
Not a Discovery Bank client yet? Get some of SA's best savings rates and pay no monthly fees - download the app and sign up in minutes, call us on 0860 000 628 or fill in some quick details and we'll call you.
Explore other savings solutions
Demand Savings Account
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Get up to 7.3% interest
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Tax-Free Demand Savings Account
Get up to 6.75% interest
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Fixed Deposit Account
Get up to 9.87% interest
Ideal for earning higher interest on money you won't need anytime soon.
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