Savings accounts rates and fees

Rates

Savings interest rates Discovery Bank Transaction Account Vitality Savings Account Demand Savings Account Tax-Free Demand
Savings Account
*NACM rate 1%*** 5.75% 5.75% 8%

*NACM: Nominal annual compounded monthly
***Base rate of 3.5% on positive balances in transaction and credit card accounts on Discovery Bank Suites

Notice Savings Accounts

Savings interest rates 24-hour Notice Savings
Account Balances below
R100 000
24-hour Notice Savings
Account Balances above
R100 000
32-day Notice
Savings Account
60-day Notice
Savings Account
90-day Notice
Savings Account
*NACM rate 5.35% 5.85% 8.45% 8.5% 8.55%

*NACM: Nominal annual compounded monthly

Fixed Deposit Account

Savings interest rates Deposit 3 months 6 months 12 months 18 months 24 months 36 months 60 months
Interest monthly (NACM)* R10 000 7.3% 8.1% 9% 8.4% 8.75% 8.85% 9%
Interest at maturity (Effective)** R10 000 7.34% 8.24% 9.38% 8.92% 9.52% 10.09% 11.31%
Interest upfront (Effective)** R10 000 7.21% 7.91% 8.58% 7.87% 8% 7.75%

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 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

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.

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.

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