NEW: The Hybrid Fixed Deposit Account - for flexible access and great returns

Want to earn more on your savings without locking away your money? Discovery Bank's new Hybrid Fixed Deposit Account combines competitive interest rates with instant access to a portion of your funds - giving you flexibility and control while you grow your wealth.

If you've ever wished your fixed deposit could give you great returns and flexible access when you need it, Discovery Bank's new Hybrid Fixed Deposit Account is designed for you.

This innovative savings option gives you the best of both worlds - the stability of a fixed deposit with the freedom of partial access to your funds. You can now lock in a competitive interest rate and still access up to 30% of your money instantly, without waiting periods or penalties.

What is the Discovery Bank Hybrid Fixed Deposit Account?

The Hybrid Fixed Deposit Account combines the benefits of two popular savings products - a fixed deposit (for stable, higher returns) and a demand savings account (for flexible access). With this account, you can:

• Earn a competitive, fixed interest rate for the full investment term.
• Immediate acces to up to 30% of your deposit. Pick a term that fits your goals, from 3 to 24 months.
• Start investing from just R10,000 - giving you flexibility to grow your savings at your own pace.

How does the Hybrid Fixed Deposit work?

When you open your Hybrid Fixed Deposit Account, you'll decide:

1. How much to invest.
2. How long to invest for - between 3 and 24 months.
3. How much of your investment you want to keep accessible - 10%, 20%, or 30%.

The rest of your funds will remain fixed for the term you choose, earning an attractive locked-in rate. This means you'll enjoy both the higher interest of a fixed term investment and the flexibility of on-demand access to part of your money.

Why choose a Hybrid Fixed Deposit Account?

If you're wondering, "What's the best fixed deposit account in South Africa for flexibility and returns?" - this could be it! Here's why Discovery Bank's Hybrid Fixed Deposit stands out:

• Flexible withdrawals: Access a portion of your savings instantly - ideal for emergencies or unexpected expenses.
• Locked-in rates: Your full investment earns a fixed rate for the chosen term, protecting your returns from interest rate changes.
• Simple to manage: Open and manage your account easily in the Discovery Bank app.

How to open a Hybrid Fixed Deposit Account

It only takes a few taps to get started:

• Log in to your Discovery Bank app.
• Tap More.
• Scroll down and select Add account and then Save and invest.
• Choose Hybrid Fixed Deposit Account.
• Complete your application and confirm your investment.

A flexible way to save smarter

So if you're committed to saving for a future goal but also want the comfort of having access to some of your funds, the Hybrid Fixed Deposit Account offers the perfect balance. Explore the account in your Discovery Bank app today or visit our Hybrid Fixed Deposit Account page to learn more.