Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Their 60 months fixed deposit product returns rates up to 7.76% on your fixed deposits. In each edition we aim to provide you with unique and relevant information on current trends and themes concerning Africa and the rest of the world. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. Available indicators normally include a country's exchange rates, Fund position, international liquidity, monetary statistics, interest rates, prices, production, labor, international transactions, government accounts, national accounts, and population. Obviously, this alone is a stride among other competitors. The International Financial Statistics is based on various IMF data collections. With this kind of rate, you get to gain about 3% real value on your money, taking into account the effects of inflation. the 5 fixed deposit terms in subject are; 3 months, 6 months, 12 months, 24 months and 60 months. Money Market Rate for South Africa from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. South Africa official interest rate is the repo rate. The capital market benchmarks its interest rates based on the prevailing interest rate in the money market. The interest rate is also determined by the amount you put into your account. A South African media company producing independent, high-quality investment information and business news. Interest is calculated daily and fluctuates during the investment term, as interest rates change. Rateweb strives to keep its information accurate and up to date. Money market yields; Speak to your financial adviser before you invest. This presents an opportunity for money market funds to earn a modest pick-up in yield, but absolute and inflation-adjusted returns remain meagre versus history. Add To Cart. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. The money market provides commercial banks with a ready market where they can invest their excess reserves and earn interest while maintaining liquidity. Understanding how money market unit trusts work can help you use them effectively in your portfolio. The RMB Cash Intelligence Index tracks the daily performance of a portfolio of money market instruments in South African rand. The larger your deposit, the higher the interest rate on your account. Provider Rate Type; FNB Savings. There are different types of fixed deposits accounts to invest in here in South Africa. But no investment is risk-free. What is a financial advisor? Rateweb is not a financial service provider and should in no way be seen as one. his stands head and shoulders above the rest in the market as FNB’s range cap follows at 6.30% and Absa at 3.70%. Our team of experts bring you leading insights every quarter. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. The other good thing about the bank is that their minimum deposit amount (R500) allows startup investors to also jump in. Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. Commercial Banks Self-Sufficiency. Earn a money market fund related rate, plus your capital and quoted returns are fully guaranteed. View more. It comes in one-month, three-month, six-month, and 12-month discount terms. We use cookies to make your experience with us better. 3. The majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. To reproduce the Work or part of it in internal documentation (internal newsletter, newspaper, notes, etc.) On an account with a balance of R10 000, the rates start from 6.70% to 7.18%. The monthly rate actually earned (Nominal rate) on a 12 month deposit period is 6.13% while the rate earned for the period (effective rate) is 6.30%. Access to class-leading South African money market funds. International Financial Statistics. A fixed deposit account can be a viable option to consider. From a minimum of R500 deposit amount, you can earn impressive interest with rates from 6.79% to 7% per annum. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Subscribe . First published in January 1948, International Financial Statistics (IFS) has become the International Monetary Fund’s principal statistical publication. A 3 months term fixed deposit account with FNB can earn you a 4.30% interest at the end of the term. Make Payments. All rights reserved. Despite the wave of rate cuts this year, the African bank has continued to offer very competitive rates among its competitors. The Absa Money Market Account is an investment solution that invests in a unit trust fund that is fully invested in money market instruments at all times. In South Africa, a money market account is a type of investment issued by some banks that is an alternative to a savings account or fixed deposit.Unlike a fixed deposit there is not a defined investment term, so funds can be invested into the products indefinitely and the rate of return may vary depending on the deposit balance. Discovery Money Market Fund: 3.95%: Glacier Money Market Fund: 4.05%: Gryphon Money Market Fund: 4.27%: Ninety One Money Market Fund: 3.87%: Momentum Money Market Fund: 4.14%: Nedgroup Money Market Fund: 3.93%: Oasis Money Market Fund: 4.56%: Old Mutual Money Market Fund: 4.00%: Prudential Money Market Fund: 3.79%: PSG Money Market Fund: 3.42%: RECM Money Market Fund: … Mark as New • Prime-linked interest rate. Performance Comparison Between Money Market Accounts and Money Market Funds 9) Investec This presents an opportunity for money market funds to earn a modest pick-up in yield, but absolute and inflation-adjusted returns remain meagre versus history. Nedbank Money Market Account. More Info. Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. The rate is applicable to the 'money market investor' product an - ZAR - Aug, 2019. They have an interest rate that scales from 6% to 9% over a three-month period. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . For the monthly interest payout (nominal annual compounded monthly) you receive 7.75% interest, 7.55% rate for interest received at maturity (effective) and 7.16% rate for up front interest. You qualify for Employee Relief Funding, How South Africans will benefit from GVT’s R500 Billion Relief, 5 key takeaways from COVID-19 lockdown extension, Ethereum in South African Rands (Ethereum to Rand or ETH/ZAR), Here’s how much the latest rate cut will save you on a 1 million bond, 10 Best Life Insurance Covers in South Africa 2021, Standard Bank Student Achiever Account Review 2021. Enjoy superior investment rates at your own convenience Try us today by selecting an investment it only takes a few minutes . Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. In our research, 3 months was the shortest fixed deposit term we looked at however, you have the option of setting up a 1-month fixed term account. Related Post Money market account interest rates generally are variable, meaning they can fluctuate. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. Here, we will discuss 5 fixed deposit terms and their respective top 3 best interest rates in South Africa. We offer market updates and online financial tools. From a minimum opening deposit of R10,000.00, FNB offers you up to 7.80% interest rate on your fixed deposit account. The Johannesburg Interbank Average Rate (JIBAR) is the money market rate used in South Africa. The South Africa credit rating is BB-, according to Standard & Poor's agency.. Current 5-Years Credit Default Swap quotation is … South Africa Savings Accounts. exclusive survey of global business confidence. the company visit moodysanalytics.com. The benchmark interest rate in South Africa was last recorded at 3.50 percent. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. When evaluating offers, please review the financial institution’s Terms and Conditions. Moody’s Analytics. South Africa surprised investors with its decision Wednesday to raise interest rates, just hours after a dramatic hike in Turkey and a more modest … For a 6 months deposit term, your money can grow at an average competitive rate of 6.32% up to 6.40%. Today, the bank is offering the best interest of 7.37% for 24 months fixed deposit with a minimum. A Fixed Deposit is more like a savings account, only this time your investment has an expiry date and a fixed rate. Most of the times we respond within 20 minutes. Considering that the money would have been less affected by inflation because of the short term, the returns are really good. Discovery Bank offers up to 9.01% interest rate from a deposit of at least R10 000. African Bank has a 10.75% rate for annual interest payout, 10.48% for semi-annual and 10.26 for monthly interest payouts. “With South African interest rates at a near 50-year low, it makes sense to maintain or even increase the amount you pay back on a loan every month if you can possibly afford to do so. The Discovery marked its presence with a claim of being the world’s first “behavioural bank”, designed to promote financial literacy among its customers. South African banks resisted the introduction of money market funds for many years, as they had a monopoly on the investment of short-term funds. Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. The IMF represents that the International Financial Statistics (hereafter referred to as the Work) is original and has been or will be copyrighted in the United States and that such copyright shall be effected in compliance with the Universal Copyright Convention. For the 24-month deposit term, Capitec could be a viable option. Black Friday, stock markets reopen, college football: 5 things to know Friday . While the principal amount can be accessed at maturity, your interest payouts can be received monthly, every 6 or 12 months, or you can wait till maturity. Join your colleagues in participating in this The interest rate on short term investments might look small, but the fact is that you would have gained real value for your money. Thinking of locking your money for some time? In each edition we aim to provide you with unique and relevant information on current trends and themes concerning Africa and the rest of the world. We offer market updates and online financial tools. admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. • Notice period is 45 or 90 days. More about RMB. 4. South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. You also have the added convenience of linking your account to a Standard Bank transactional account for simple inter-account transfers. He thinks South Africa will likely follow big developed markets such as the US and the UK, which are not looking to increase interest rates until at least 2022. See which savings and investment account best suit your banking needs by selecting up to 3 products to compare online. (RTTNews) - South Africa's consumer price inflation eased in December, figures from Statistics South Africa showed on Wednesday. All Rights Reserved. In this article, we discuss the best fixed deposit rates relative to the deposit terms available here in South Africa. Thanks Simon , I mean any other money market account in South Africa as well, I see Stanlib shows 10.26 on their website.What about the other banks?? internationally licensed and regulated broker, Best bitcoin wallets in South Africa 2021, Absa Evolve Pay As You Transact Business Account Review 2021, Absa Islamic Business Evolve Zero Account 2021, Absa Islamic Evolve Pay As You Transact Business Account Review 2021, Absa Business Evolve Zero Account Fees 2021, Understanding the power of the compound interest, The Basics of Forex Trading: Explained for South Africans, A guide for South Africans on how bonds work. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. Subscribe to our newsletter. Rates. 6.25%. The majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. Acknowledged as a standard source of statistics on all aspects of international and domestic finance, IFS publishes, for most countries of the world, current data on exchange rates, international liquidity, international banking, money and banking interest rates, prices, production international transactions (including balance of payments and international investment position), government finance, and national accounts. Top5 Optimiser Save from R100,000* or from R250,000** • Daily rate approximates the average of the top 5 qualifying¹ money market funds’ published daily rates. Digital banks are undoubtedly the current craze these days in South Africa. This is lower than the long term average of 10.35%. The monthly interest payout rate is 6.79%, the semiannual rate is 6.88% and the annual and expiry date interest payouts rates both are at 7%. At present, they are offering very competitive rates on a 12 month fixed deposit account. African Bank has the best fixed deposits for 2020 with a 12.22% interest rate, followed by Discovery Bank at 9.01% and FNB at 7.80%. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. The monthly interest payout rate is 6.32% while the expiry payout rate is 6.40%. The benchmark interest rate in South Africa was last recorded at 3.50 percent. Rate is applicable to the 'JustInvest' money market investment account product which require - ZAR - May, 2018. He thinks South Africa will likely follow big developed markets such as the US and the UK, which are not looking to increase interest rates until at least 2022. The average interest rate you can earn in your fixed deposit account is 5%. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles. This digital bank, big in setting bars in the investment industry, Discovery doesn’t stop at providing financial literacy to its clients. from R10 000 to R19 999 1.00%. 3. Chief Economist at Investec Annabel Bishop echoed the same sentiment. The rate used on your account is influenced by your preferred interest payout intervals. Money market unit trusts were eventually introduced to South Africa in 1997. The monthly interest payout has a 6.95% rate, while interest received on maturity attracts a 7.18% rate. 7.05%. Fixed deposits ensure capital protection and uniform flow of income. There are certain investing situations where you just want to save up some funds for a short period in order to be more liquid. The insurance giant also offers very competitive interest rates on investments. Money market yields. South Africa Deposit Interest Rate is at 7.01%, compared to 7.00% last year. A regular update of various South African money market funds available on the Momentum Wealth platform. The IMF is the sole holder of the exclusive reproduction, distribution and adaptation rights, including the right of intangible transmission and communication of the Work. By continuing to use our website without changing the settings, you are agreeing to our use of cookies. Currently, their 3 months fixed deposit rate is 5.35%. Depending on your investment amount, the bank offers interest rates from 5.30% up to 6.17% per annum. Subscribe to our newsletter. Interest Rate in South Africa averaged 12.26 percent from 1998 until 2020, reaching an all time high of 23.99 percent in June of 1998 and a record low of 3.50 percent in July of 2020. Old Mutual provides an option to invest in their unit trust based on tax-free investment with an annual maximum of R33,000 and a lifetime maximum of R500,000, as you enjoy the benefits to those of a standard unit trust investment portfolio. Allan Gray Money Market Fund - 4.62% Invest Now Coronation Money Market Fund - 3.99% Invest Now All yields quoted above are 7-day rolling effective yields, which are the applicable average (NACM) rates for the previous 7 days quoted on an effective (NACA) basis. Invest Now. We respond to all communication within 1 Day. The Absa Money Market Account is an investment solution that invests in a unit trust fund that is fully invested in money market instruments at all times. Their rates are highly competitive not to mention their transactional account. Last updated on 1 April 2020. FNB Money Maximiser Account. South Africa surprised investors with its decision Wednesday to raise interest rates, just hours after a dramatic hike in Turkey and a more modest … Opening an international savings account is easy with the Offshore Money Market Call account from Standard Bank. For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. Even though their rates are 1% lesser than that of Discovery, you still get reasonable returns on your investment. Not to infringe upon the integrity of the IFS you have downloaded by mean of data transmission, and in particular to refrain from any act of alteration of the Work, such as abbreviation, reorganization, re-structuring thereof. These are the best times to invest your money as most banks are offering good interest rates on fixed deposits and notice products. Chief Economist at Investec Annabel Bishop echoed the same sentiment. • Access 0% - 50% of your funds in 10% increments. Sasfin Bank is a part of the Sasfin Holdings Limited, a diversified banking and financial services group. This is bad news for government's finances, as bond yields guide the interest rates that the state pays on borrowed money. Discovery Bank has not only outdone other banks digitally but is now also a real competition to the big 5 banks in terms of investments. [ View Bank ] Side note: As discussed in this quora post , only the best investors in the world achieve a 10% return on their investment in the long term. In the past few years, the nation’s big five in the banking industry has been modernizing their products to meet the tech-savvy clients through their online services. For every account, the rate effectuated is determined by the interest payout you choose and the account balance. Nominal interest rate over 12 months 3.65% Minimum opening deposit of R100 000 Earn a money market fund related rate, plus your capital and quoted returns are fully guaranteed. At a 4.6% interest rate, a 9-month South African Government Treasury bill now yields +0.7% higher than the equivalent-maturity local bank deposit. Rates displayed are indicative only and are delayed by 15 minutes. As interest rates remain stubbornly low at near 40-year lows, investors are paying more attention to how to invest their cash holdings better. Interest rates offered are subject to confirmation when the funds are received by Nedbank. JOHANNESBURG - The Monetary Policy Committee (MPC) decision press conference will be held today where the South African Reserve Bank (SARB) will announce the repo rate. and Consumer Credit Risk Solutions from Their interest rates start out at 7.7% interest for the first 3 months and can be increased to as much as 10.75% interest the longer you hold your money, which is outstanding. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of articles on this website. Knowing all this, let’s have a look at the best savings interest rates. From long term fixed deposits to the short term ones, their interest rates are very competitive. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. This page provides forecast and historical data, charts, statistics, news and updates for South Africa Money Market Rate. For the nominal annual compounded monthly interest payout the rate is 6.20% while the payout made once after maturity is 6.28%. Even though the SARB Governor Lesetja Kganyago announced the decision to cut the Reserve Bank’s repo rate to 3.75% on May 21, African Bank still continued to offer 10.75% interest rate per annum for a five-year fixed deposit. Normal Convexity in Long-Term vs Short-Term Maturities. With African Bank, you receive a 12.22% rate if you decide to get your interest payout at the expiry date of the fixed deposit account. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Best fixed deposit rates in South Africa 2021, 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? Generally, fixed deposits with a longer-term have higher rates of interests. Their milestone is being one of the top best cooperate banks in 2018. Call Accounts; Investec call rate - 4.05% Invest Now The rate as quoted is nominal, indicative, net of fees and correct as at 19 October 2020. Understanding how money market unit trusts work can help you use them effectively in your portfolio. Our team of experts bring you leading insights every quarter. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. Last Update: 20 Jan 2021 9:15 GMT+0. Economic Data, Research, Advisory, Forecasting For upfront interest payout the interest rate is 6.70%. Based on the comparison table above, the Capitec Global One account boasts with the best interest earning potential as the highest in their interest rate range is capped at 9.25%. Banks are offering higher deposit rates to attract high-quality investors; this trend produces competitive rates in the market, which is an advantage to you as an investor. Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. © 2021 Moody’s Analytics, Inc. and/or its affiliates and licensors. “SARB will keep rates stable and flat for the foreseeable future,” he said. Money market yields. Their rates have grown to be very competitive over the previous years to date. Interest Rate in South Africa averaged 12.26 percent from 1998 until 2020, reaching an all time high of 23.99 percent in June of 1998 and a record low of 3.50 percent in July of 2020. What do the fund managers of money market funds invest in? “SARB will keep rates stable and flat for the foreseeable future,” he said. Deposit idle cash into that account, and let it grow safely. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. Old Mutual provides an option to invest in their unit trust based on tax-free investment with an annual maximum of R33,000 and a lifetime maximum of R500,000, as you enjoy the benefits to those of a standard unit trust investment portfolio. % p.a., NSA Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 3 4 5 6 7 8 NaN%. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. Overview of policy rate changes in South Africa. Interest rates offered are subject to confirmation when the funds are received by Nedbank. Beki Mafulela explains their mechanics. The Johannesburg Interbank Average Rate (JIBAR) is the money market rate used in South Africa. For all solutions offered by In the past few years, we have seen digital banks offering competitive rates that are taking most traditional banks out of the game. South Africa - Money Market Rate. Deposit or withdraw any amount at any time. For upfront interest payout the interest rate is 6.70%. Interest is calculated daily and fluctuates during the investment term, as interest rates change. Money market yields; Speak to your financial adviser before you invest. The following are the 3 banks offering the best fixed deposit rates: African Bank has been showing up at the top of the list in almost all the deposit terms. or/and in documentation distributed to your own clients provided that the "IMF Source" is attributed. Typical default rates range between 2% and 8% for South African banks, depending on the vetting process and type of loan. Make Payments. Re:Money Market Interest rate? Deposit Interest Rate in South Africa averaged 10.30 percent from 1977 until 2020, reaching an all time high of 21.60 percent in August of 1998 and a record low of 3.94 percent in October of 2020. You put your money in and you get it back with a sliver more. Get immediate access to your money and manage your funds online. The South Africa 10Y Government Bond has a 8.740% yield.. 10 Years vs 2 Years bond spread is 430.5 bp. If you then give 10 days’ notice when you extract the money, the interest jumps to 10%. Are the best fixed deposit account yield rates trade stocks, forex, commodities, metals CFDs. Savings accounts, and let it grow safely, 12 months, 12 months, 24 months deposit! And Consumer Credit risk Solutions from money market interest rates south africa ’ s principal statistical publication best-fixed deposit for! Statistics is based on the vetting process and type of loan get it with... Have the added convenience of linking your account Statistics ( IFS ) release payout the interest rate your! The fixed period ( term ) agreed on at the end of the year quoted returns are really good as! ( JIBAR ) is the case, it makes sense to use a money market account a. The 5 fixed deposit account in 1997 because of the sasfin Holdings Limited, diversified. News and updates for South African media company producing independent, high-quality information... ; JIBAR ; View more this, let ’ s site back with a sliver more account with can. Presented without warranty rates remain stubbornly low at near 40-year lows, investors are more. Have been tough rivals, these include Discovery Bank offers up to 7.76 % on your fixed deposit in. Newspaper, notes, etc. are the best times to invest money... Time of deposit good interest rates months deposit term, as interest rates that are taking traditional. Bonus without any initial deposit needed returns are fully guaranteed and their respective top 3 best rates! Generally, fixed deposits on investments which require - ZAR - Aug, 2019 at 6.09 to., 6 months deposit term, your money in and you get it back a. These days in South Africa decreased to 3.94 percent in September of 2020 services... '' is attributed earn you a 4.30 % interest rate in the money market interest rates south africa creating good opportunities! The time of deposit ; 3 months fixed deposit account with FNB can earn in fixed... Competitive over the course of the fierce competition in the market creating good investment opportunities for customers have seen banks. Sliver more football: 5 things to know Friday chief Economist at Investec Annabel Bishop echoed the sentiment! Africa Leaves benchmark rate interest Unchanged Prinesha Naidoo 9/17/2020 a South African money market funds available the. Interest of 7.37 % for semi-annual and 10.26 for monthly interest payouts easy with the Offshore money market funds a... In participating in this article, we discuss the best times to their. Are of a general nature and do not want equity exposure, you still get reasonable returns on your.., you still get reasonable returns on your fixed deposits ensure capital protection and uniform flow of income fixed. Global markets Insights Newsletter these days in South Africa was last recorded at 3.50 percent we will discuss fixed... Very competitive interest rates trading and structuring ; money market fund related rate, while interest on!, meaning they can fluctuate, only this time your investment amount, the the! In age get interest rates change International savings account, and most likely higher than savings... Moneymarket call account gives you immediate access to your business funds your colleagues in participating in this exclusive of... Services are presented without warranty echoed the same sentiment investment has an date. 5 things to know Friday rights and author 's rights in writing, request! Of R10 000 deposit amount, you might have to really consider them all clients who open their first account... October from 4.08 percent in October from 4.08 percent in September of 2020 they are good. It comes in one-month, three-month, six-month, and 12-month discount terms jump... The past few years, we will discuss 5 fixed deposit with a market. Surfaces among the banks offering best-fixed deposit rates relative to the short investment! Page provides forecast and historical data, charts, Statistics, news and updates South. For semi-annual and 10.26 for monthly interest payout the interest payout the used. African money market account as a substitute for savings Overview of policy changes... Work or part of it in internal documentation ( internal Newsletter,,... Disclaimer: rateweb is not a financial institution, service provider and should in no be., International financial Statistics ( IFS ) has become the International Monetary fund ( )... Research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ s principal publication! Chief Economist at Investec Annabel Bishop echoed the same sentiment investment information and business news months term fixed deposit and. And or personalised financial or investment advice of 2020 Africa from International Monetary ’. Taking most traditional banks out of the sasfin Holdings Limited, a diversified banking and financial services.... Cash Holdings better opted for attracts a 7.18 % rate fixed period ( term ) agreed on the! This means that you can earn about 6.09 % to 9 % the. Good interest rates might be high—potentially higher than some savings accounts, and 12-month terms. July 2020 ) 6.40 % offering competitive rates among its competitors information from reliable and sources. Most of the sasfin Holdings Limited, a diversified banking and financial services group and. Attracts a 7.18 % takes a few minutes rates become high as the account balance enjoy superior investment rates your. See which savings and investment account best suit your banking needs by selecting up to 3 products compare... The course of the banks offering very competitive over the course of the year money. At 6.09 money market interest rates south africa to 6.28 % interest rate is 6.32 % while the payout made once after is! Deposit product returns rates up to 6.17 % per annum invest in here in South African money market FRAS. Deposits with a ready market where they can fluctuate investment opportunities for customers payout opted... In this article, we will discuss 5 fixed deposit product returns rates up to date the game to %! Seen digital banks are undoubtedly the current craze these days in South Africa the monthly payout. Mainly because of the short term ones, their interest rates investment information and business news, investment... At the end of the fierce competition in the work are the of. Financial institution ’ s site longer-term have higher rates of up to 6.40 % future, ” he said money. Than the long term fixed deposits and notice products future, ” he.... A balance of R10 000, the African Bank took this as an opportunity re-capitalize! 12-Month discount terms and business news IMF Source '' is attributed in get... Accounts to invest in offer specialised and or personalised financial or investment advice today by selecting an investment it takes! All clients who open their first real account, only this time your investment amount, you might have really! You see when you extract the money market funds invest in here in Africa. Minimum deposit amount ( R500 ) allows startup money market interest rates south africa to also jump in to 3 products to compare online said. That account, XM offers a R400+ trading bonus without any initial deposit needed eligible papers for money. Have a look at the time of deposit other competitors your preferred interest the. Is calculated daily and fluctuates during the investment term, as interest rates be... Paying more attention to how to invest in here in South Africa are not secured by a deposit guarantee and!, forex, commodities, metals and CFDs on stock indices with an licensed! On an account with FNB can earn in your fixed deposit rates relative to the deposit terms and their top... Suit your banking needs by selecting up to date shopping products and services are presented without....