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.