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Fixed deposit

A Fixed Deposit account is an investment account where money is deposited for a fixed period and the interest does not change. A Fixed Deposit account earns higher interest rates than ordinary savings accounts and is ideal if you want to save for a specific goal– like a wedding or year-end holiday.You choose how long you want to invest – from six months to one year.

What it offers you

  • You must make a minimum investment of at least M1 000
  • You can choose the date on which you want your investment to mature
  • The funds in your account can be pledged and used as collateral
  • There are no service fees charged on your account
  • You can choose an investment period from 6 to 60 months
  • You can have more than one fixed deposit if you want to save for different goals
  • You cannot withdraw funds from your fixed deposit account during the investment period. Early termination attracts a penalty.





What you need to apply

  • You must be over 18
  • Nationally accepted and valid identification: passport, National Identification or driver’s license
  • Visit your nearest branch with the following documents
  • Nationally accepted identification card (valid voter’s ID, driver’s licence or passport)
  • Proof of residence in the form of a utility bill (less than three months old) or Chief’s letter


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