Savings accounts rates and fees

Rates

Savings interest rates Discovery Bank Transaction Account Demand Savings Account 24-hour Notice
Savings Account
32-day Notice
Savings Account
Tax-Free Notice
Savings Account
*NACM rate 2.50% 3.50% 4.00% 5.00% 6.50%

*NACM: Nominal annual compounded monthly
**Effective: The rate is applied to the principal amount invested.

Fixed Deposit Account

Savings interest rates Deposit 3 months 6 months 12 months 18 months 24 months
Interest monthly (NACM)* R10 000 5.35% 6.20% 6.95% 7.30% 7.75%
Interest at maturity (Effective)** R10 000 5.37% 6.28% 7.18% 7.69% 8.35%
Interest upfront (Effective)** R10 000 5.30% 6.09% 6.70% 6.89% 7.16%

Monthly (NACM)*: Nominal annual compounded monthly. The actual interest earned over one month period.
Maturity (Effective)**: Simple interest. The rate is applied to the principle amount invested.
Upfront (Effective)**: Simple interest. The rate is applied to the principle amount invested.

Tax-Free Notice Savings Account

Fees that may apply to your account
Monthly fee Free
Inter-account transfers Free
Electronic funds transfers R15
Real-time payments R35

Notice Savings Account

Fees that may apply to your account
Monthly fee Free
Inter-account transfers Free
Electronic funds transfers R15
Real-time payments R35

Demand Savings Account

Fees that may apply to your account
Monthly fee Free
Inter-account transfers Free
Electronic funds transfers R15
Real-time payments R35
Debit order fee R15
Prepaid airtime, data and SMS purchases Free

Zero Monthly account fees and fee transactions included if on a bundled price plan.

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