Just about everyone with an income has a bank account. And people can see their ordinary bank accounts as tools for actively growing wealth. By saving big, through their bank account interest rates and to do that you’ll need to know where to look.
Capitec Bank, Global One account
Capitec Bank is best for its offering of a low-interest rate and with its Global One account, you earn highly competitive interest rates. Pay lower fees and can have up to 4 extra savings plans and the interest you earn could cover your monthly bank fees.
Earn up to 10.25% interest. Through the only transaction account where you earn from 5.35% interest per year on daily balances. The transaction/savings account is your main account with a R25 minimum balance and a R5.25 monthly admin fee.
This gives you affordable banking and up to four extra flexible, fixed or tax-free savings plans. Some of the benefits of the transaction/savings account include:
- Easiest transactions at lower, transparent bank costs
- Easy access to your money using Capitec’s app, cellphone *120*3279#, the Internet and your Global One card.
Absa Transact Account
ABSA, South Africa’s largest retail bank offers a fantastic credit card to first-time applicants or those who are who earn at least R2 000 per month. This is the perfect card to get started with, whether you are looking to build up your credit rating for larger future purchases or even just to have access to further cash in case of emergencies.
Absa have kept it simple by offering up to 57 days’ interest-free credit along with fixed monthly payments and free monthly eStatments to keep track on what you spend each month. It is the ideal choice to start building your financial profile for the future.