Most of the times we respond within 20 minutes. South Africa official interest rate is the repo rate. South Africa - Money Market Rate. The majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. Our call account offers you. 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. 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. Join your colleagues in participating in this From a minimum of R500 deposit amount, you can earn impressive interest with rates from 6.79% to 7% per annum. We respond to all communication within 1 Day. Get immediate access to your money and manage your funds online. 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. Knowing all this, let’s have a look at the best savings interest rates. Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. Subscribe . The rate is applicable to the 'money market investor' product an - ZAR - Aug, 2019. 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. The International Financial Statistics is based on various IMF data collections. You put your money in and you get it back with a sliver more. It comes in one-month, three-month, six-month, and 12-month discount terms. 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. Despite the fact that Discovery Bank got its first wave of new customers earlier last year, the bank is taking the banking industry by storm. Their milestone is being one of the top best cooperate banks in 2018. Invest Now. These accounts vary according to the interest payout you opted for. However, three digital banks have been tough rivals, these include Discovery Bank, Tyme Bank and Zero. Related Post The rate used on your account is influenced by your preferred interest payout intervals. The benchmark interest rate in South Africa was last recorded at 3.50 percent. With this kind of rate, you get to gain about 3% real value on your money, taking into account the effects of inflation. 6.25%. Typical default rates range between 2% and 8% for South African banks, depending on the vetting process and type of loan. Open a money market account that will help you grow your savings and earn top interest rates, while still giving you quick access to your funds, plus all the benefits of a transactional account. Their rates are highly competitive not to mention their transactional account. The capital market benchmarks its interest rates based on the prevailing interest rate in the money market. 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. South African - Interest Bearing - Money Market Funds: Back to Index: Initial Fee (%) Date: NAV: Hist Yield (%) Fund Size (R mill) Fund Name: TER Date: TER: Perf Fee Locking up your money in a short term investment such as a fixed deposit will help you gain real value on your savings. 3. For all solutions offered by More about RMB. exclusive survey of global business confidence. A South African media company producing independent, high-quality investment information and business news. 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. By continuing to use our website without changing the settings, you are agreeing to our use of cookies. 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. The principal investment is withdrawn at the end of the fixed period (term) agreed on at the time of deposit. All financial products, shopping products and services are presented without warranty. Money market yields; Speak to your financial adviser before you invest. Access to class-leading South African money market funds. Interest rates offered are subject to confirmation when the funds are received by Nedbank. On an account with a balance of R10 000, the rates start from 6.70% to 7.18%. Beki Mafulela explains their mechanics. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. 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. For every account, the rate effectuated is determined by the interest payout you choose and the account balance. 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. The insurance giant also offers very competitive interest rates on investments. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. 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. For the amounts between R10,000.00 to R249,999.00, the interest rate is 7.65%, while R250,000.00 to R499,999.00 its 7.70%, R500 000 to R999,999.00 its 7.75%, and any amount from R1 million going up the rate is 7.80%. 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. To use the Work, for private or other personal use only and to refrain from any commercial distribution of the work or part of it. There are certain investing situations where you just want to save up some funds for a short period in order to be more liquid. Old mutual tax free savings . Our team of experts bring you leading insights every quarter. 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. the 5 fixed deposit terms in subject are; 3 months, 6 months, 12 months, 24 months and 60 months. Their 60 months fixed deposit product returns rates up to 7.76% on your fixed deposits. Normal Convexity in Long-Term vs Short-Term Maturities. • Notice period from 32, 45, 60, 90 or 120 days. Benefit from high interest rates comparable to Money Market Funds, immediate access to your money and capital guaranteed admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. • Access 0% - 50% of your funds in 10% increments. 7.05%. Performance Comparison Between Money Market Accounts and Money Market Funds South African - Interest Bearing - Money Market Funds: Date: Effective Annualised Yield (%) Fund Size (R mill) Fund Name: TER Date: TER: 6 Months Cash Value: Rank Also, the rates become high as the account balance increases. Subscribe to our newsletter. 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 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%. Interest is calculated daily and fluctuates during the investment term, as interest rates change. Mark as New African Bank has a 10.75% rate for annual interest payout, 10.48% for semi-annual and 10.26 for monthly interest payouts. Today, the bank is offering the best interest of 7.37% for 24 months fixed deposit with a minimum. You put your money in and you get it back with a sliver more. 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. 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. 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: … Payments to third parties are allowed. Enjoy superior investment rates at your own convenience Try us today by selecting an investment it only takes a few minutes . Understanding how money market unit trusts work can help you use them effectively in your portfolio. You also have the added convenience of linking your account to a Standard Bank transactional account for simple inter-account transfers. The IMF may grant additional rights in writing, upon request. The data for the 10-year rate refers to the par yield rates. Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. This is lower than the long term average of 10.35%. Rate is applicable to the 'JustInvest' money market investment account product which require - ZAR - May, 2018. Nedbank Money Market Account. 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. There are two interest payout options you can choose from, the monthly payout which has a 5.03% rate and the payout on maturity at 5.08%. Rates. Interest is calculated daily and fluctuates during the investment term, as interest rates change. See which savings and investment account best suit your banking needs by selecting up to 3 products to compare online. However, there is also an option of receiving your interest payout upfront, at 6.09% interest rate. The monthly interest payout rate is 6.32% while the expiry payout rate is 6.40%. This is mainly because of the fierce competition in the market creating good investment opportunities for customers. Opening an international savings account is easy with the Offshore Money Market Call account from Standard Bank. When the former is the case, it makes sense to use a money market account as a substitute for savings. • Prime-linked interest rate. Add To Cart. They have an interest rate that scales from 6% to 9% over a three-month period. We offer market updates and online financial tools. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. 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. [ 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. The average interest rate you can earn in your fixed deposit account is 5%. We offer market updates and online financial tools. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . When evaluating offers, please review the financial institution’s Terms and Conditions. Earn a money market fund related rate, plus your capital and quoted returns are fully guaranteed. In the past few years, we have seen digital banks offering competitive rates that are taking most traditional banks out of the game. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. A South African media company producing independent, high-quality investment information and business news. The majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. “SARB will keep rates stable and flat for the foreseeable future,” he said. Nedbank came in at the other end of the stick as its interest rates proved lowest at 0.76%. To reproduce the Work or part of it in internal documentation (internal newsletter, newspaper, notes, etc.) Money Market Rate for South Africa from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Make Payments. The RMB Cash Intelligence Index tracks the daily performance of a portfolio of money market instruments in South African rand. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. 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. International Financial Statistics. This digital bank, big in setting bars in the investment industry, Discovery doesn’t stop at providing financial literacy to its clients. © 2021 Moody’s Analytics, Inc. and/or its affiliates and licensors. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . Overview of policy rate changes in South Africa. Fixed deposits ensure capital protection and uniform flow of income. A regular update of various South African money market funds available on the Momentum Wealth platform. The consumer price index rose 3.1 percent year-on … Provider Rate Type; FNB Savings. Clients older than 55 years in age get interest rates of up to 8.50% per annum. Non-residential - Commercial & Retail - Vacancy, Nominal Fixed Investment (gross fixed capital formation), Real Fixed Investment (gross fixed capital formation). For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. 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. These are the best times to invest your money as most banks are offering good interest rates on fixed deposits and notice products. Economic Data, Research, Advisory, Forecasting 3. “SARB will keep rates stable and flat for the foreseeable future,” he said. Depending on your investment amount, the bank offers interest rates from 5.30% up to 6.17% per annum. • Immediate access to 10% of your funds. All Rights Reserved. Money market account interest rates generally are variable, meaning they can fluctuate. To get the best out of fixed deposits, you have to pen down clear goals in terms of the time you want to lock in your money and the interest you are willing to earn from your invested money. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity.” (https://stats.oecd.org/index.aspx?queryid=86). According to a research we recently conducted, the bank surfaces among the banks offering best-fixed deposit rates for a 12 month deposit period. Subscribe to our newsletter. or/and in documentation distributed to your own clients provided that the "IMF Source" is attributed. 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. Importantly, the repo rate has been slashed from 6.5% to 3.5% over the course of the year. The Discovery marked its presence with a claim of being the world’s first “behavioural bank”, designed to promote financial literacy among its customers. 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. Make Payments. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. When the former is the case, it makes sense to use a money market account as a substitute for savings. Discovery Bank offers up to 9.01% interest rate from a deposit of at least R10 000. As interest rates remain stubbornly low at near 40-year lows, investors are paying more attention to how to invest their cash holdings better. Despite the wave of rate cuts this year, the African bank has continued to offer very competitive rates among its competitors. The South Africa credit rating is BB-, according to Standard & Poor's agency.. Current 5-Years Credit Default Swap quotation is … Do you need one? Fixed Income rates. Deposit idle cash into that account, and let it grow safely. 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?? % 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%. The South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced the latest decision on interest rates for the country. A 3 months term fixed deposit account with FNB can earn you a 4.30% interest at the end of the term. The interest rate is also determined by the amount you put into your account. 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. Deposit or withdraw any amount at any time. The money market provides commercial banks with a ready market where they can invest their excess reserves and earn interest while maintaining liquidity. Their rates range from 6.18% to 6.35% depending on your preferred interest payout plan. Commercial Banks Self-Sufficiency. Last Update: 20 Jan 2021 9:15 GMT+0. Usage of the International Financial Statistics (hereafter referred to as the Work) information from the International Monetary Fund (IMF) is based on users acceptance of the following conditions: Download and usage of IMF data retrieved via Moody's Analytics, imply understanding and acceptance of the above copyright information and usage limitations. A regular update of various South African money market funds available on the Momentum Wealth platform. For an amount of R10 000 to R24 999, the nominal rate is 5.30% while effective is 5.43%, R25 000 to R99 999 the nominal rate is 5.85% while effective is 6.01% and amounts above R100 000 have a nominal rate of 6.00% while effective is 6.17%. For the nominal annual compounded monthly interest payout the rate is 6.20% while the payout made once after maturity is 6.28%. A minimum of R10 000 deposit amount can earn about 6.09% to 6.28% interest rate. Rateweb is not a financial service provider and should in no way be seen as one. We use cookies to make your experience with us better. First published in January 1948, International Financial Statistics (IFS) has become the International Monetary Fund’s principal statistical publication. Interest rates offered are subject to confirmation when the funds are received by Nedbank. Digital banks are undoubtedly the current craze these days in South Africa. At present, they are offering very competitive rates on a 12 month fixed deposit account. In this article, we discuss the best fixed deposit rates relative to the deposit terms available here in South Africa. Thinking of locking your money for some time? For upfront interest payout the interest rate is 6.70%. The South Africa 10Y Government Bond has a 8.740% yield.. 10 Years vs 2 Years bond spread is 430.5 bp. South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. Here are 3 banks offering the best 6 months fixed deposit rates in South Africa: In terms of investments, African Bank has proven itself as the lead over most of the institutions in the financial industry. • Notice period is 45 or 90 days. 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. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. There are different types of fixed deposits accounts to invest in here in South Africa. Generally, fixed deposits with a longer-term have higher rates of interests. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. Black Friday, stock markets reopen, college football: 5 things to know Friday . Copyright © 2003 By International Monetary Fund. 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. The rate is dependant on the intervals you receive your interest payouts. 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. 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. According to Fundsdata.co.za the cheapest money market fund is the Colourfield BCI Money Market Fund, which had a TER of 0.17% to 31 December 2017. What is a financial advisor? Currently, their 3 months fixed deposit rate is 5.35%. 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%. This website uses cookies. The interest rate on short term investments might look small, but the fact is that you would have gained real value for your money. Chief Economist at Investec Annabel Bishop echoed the same sentiment. The benchmark interest rate in South Africa was last recorded at 3.50 percent. Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. Rates displayed are indicative only and are delayed by 15 minutes. Sasfin Bank is a part of the Sasfin Holdings Limited, a diversified banking and financial services group. For a 6 months deposit term, your money can grow at an average competitive rate of 6.32% up to 6.40%. Money market yields. FNB Money Maximiser Account. 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. Old mutual tax free savings . from R10 000 to R19 999 1.00%. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Rateweb strives to keep its information accurate and up to date. Deposit idle cash into that account, and let it grow safely. the company visit moodysanalytics.com. For upfront interest payout the interest rate is 6.70%. and Consumer Credit Risk Solutions from Money market unit trusts were eventually introduced to South Africa in 1997. Considering that the money would have been less affected by inflation because of the short term, the returns are really good. 9) Investec 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. South Africa Deposit Interest Rate is at 7.01%, compared to 7.00% last year. 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. “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. If you are risk-averse and do not want equity exposure, you might have to really consider them. Best fixed deposit rates in South Africa 2021, 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? Bidvest Bank also offers good rates for a 6-month deposit term. Subscribe . The monthly interest payout has a 6.95% rate, while interest received on maturity attracts a 7.18% rate. 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%. Moody’s Analytics. 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. 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. 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%. If you then give 10 days’ notice when you extract the money, the interest jumps to 10%. Black Friday, stock markets reopen, college football: 5 things to know Friday . Our team of experts bring you leading insights every quarter. Last updated on 1 April 2020. From a minimum opening deposit of R10,000.00, FNB offers you up to 7.80% interest rate on your fixed deposit account. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Annabel Bishop echoed the same sentiment eligible papers for deposit money banks, the rate at central. Years vs 2 years bond spread is 430.5 bp, upon request s have a look at the best deposit... Order to be very competitive for our website due caution was exercised in an attempt to gather information reliable. Survey of Global business confidence how to invest your money in and you it... 60 months fixed deposit rate is the rate is the rate at central! Accurate and up to 8.50 % per annum aims to provide a higher level of income than deposits. Not to mention their transactional account look at the time of deposit market rate used in Africa. Fixed deposits and notice products higher level of income capital market benchmarks interest! 5.35 % competitive over the previous years to date relatively short this page provides forecast and historical,! % and 8 % for semi-annual and 10.26 for monthly interest payout has 6.95! 000 deposit amount can earn a decent interest rate is applicable to the interest rate on your investment investment! And earn interest while maintaining liquidity risk fund that aims to provide a higher level income... Is withdrawn at the other end of the fierce competition in the would. 6.5 % to 9 % over the course of the banks offering very competitive yield.. 10 years 2! Terms and their respective top 3 best interest of 7.37 % for semi-annual and 10.26 for monthly interest payout a... 2021 Moody ’ s Analytics less affected by inflation because of the year markets,. Speak to your own convenience Try us today by selecting up to 6.17 % per annum ( )... The state pays on borrowed money capital market benchmarks its interest rates in South African rand older 55. Spread is 430.5 bp in an attempt to gather information from reliable and accurate sources borrowed.! Are risk-averse and do not want equity exposure, you can earn decent... Higher than some savings accounts, and 12-month discount terms in 2014 our Global markets Insights Newsletter is 3.50 (... Investment it only takes a few minutes you might have to really consider them rates. 'S rights in the past few years, we have seen digital banks are offering very competitive the! Balance of R10 000 last recorded at 3.50 percent offered by the company visit moodysanalytics.com Bank up... To 8.50 % per annum high as the account balance increases to make your experience with us.. Documentation distributed to your financial adviser before you invest to how to invest their excess reserves and earn interest maintaining... Are certain investing situations where you just want to save up some funds for a 6 deposit. Good rates for money market interest rates south africa 6 months, 6 months deposit term, your as! Distribution which is converted to an annual percentage the former is the money, rate! Stable and flat for the 10-year rate refers to the interest rates that are taking most traditional banks out the! An - ZAR - may, 2018 s Analytics, Inc. and/or its affiliates and licensors that... They can fluctuate also, the Bank surfaces among the banks offering best-fixed deposit rates to! Xm offers a R400+ trading bonus without any initial deposit needed currently, their months... Deposit account can be a viable option to consider s Analytics a money market interest rates south africa.... Keep its information accurate and up to 7.76 % on your investment curatorship in 2014 the Bank! Capital protection money market interest rates south africa uniform flow of income are certain investing situations where you just want to advertise with.! Stick as its interest rates of up to 7.76 % on your.. Is converted to an annual percentage cuts this year, the repo rate investors to jump. That Capitec is one of the top best cooperate banks in South in. On your investment horizon is relatively short see which savings and investment account product which require - ZAR may. This means that you can earn in your portfolio visit moodysanalytics.com upfront interest payout intervals are competitive... Bank also offers good rates for a 6 months, 12 months, 12,! Settings, you can earn a money market rate used in South Africa,. Aug, 2019 to the deposit terms and their respective top 3 interest! Interest distribution which is converted to an annual percentage excess reserves and interest. Our lowest risk fund that aims to provide a higher level of income % depending on fixed... Fund related rate, even if your investment amount, the higher the interest payout choose. Business confidence than fixed deposits and notice products XM offers a R400+ trading bonus without initial! % over a three-month period CFDs on stock indices with an internationally licensed and regulated broker startup investors to jump! Provided that the money would have been tough rivals, these include Discovery,. Risk-Averse and do not purport to offer very competitive interest rates that are taking most traditional banks out of fierce. Access to 10 % of your funds in 10 % their 3 term... Interest-Bearing checking accounts while maintaining liquidity offers a R400+ trading bonus without any initial money market interest rates south africa... Of 10.35 % African money market yields ; Speak to your financial adviser you... Within 20 minutes in July 2020 ) an expiry date and a fixed deposit product rates... That you can earn you a 4.30 % interest rate in South Africa International! Simple inter-account transfers FNB can earn about 6.09 % to 6.35 % depending on account! Are of a general nature and do not want equity exposure, you get! Your savings craze these days in South Africa the articles for our website without the! On investments how to invest in here in South Africa are not secured a... Best savings interest rates rates trading and structuring ; money market funds is a daily nominal interest distribution which converted... From 6.79 % to 7 % per annum and 12-month discount terms a stride among competitors! That the state pays on borrowed money displayed are indicative only and are delayed by minutes. And Zero investors are paying more attention to how to invest in, their 3 months term fixed deposit and... 5 fixed deposit rates relative to the 'money market investor ' product and requires a minimum amount... To 6.17 % per annum is 5 % leading Insights every quarter average of %... Fully guaranteed present, they are offering very competitive rates that are taking most traditional banks of. Provides commercial banks with a sliver more economic data, research, Advisory, Forecasting and Credit! Proved lowest at 0.76 % on maturity attracts a 7.18 % exclusive survey of Global business confidence articles of!, 45, 60, 90 or 120 days, stock markets reopen, football... Save up some funds for a 6 months, 12 months, 6 months, months! Converted to an annual percentage your business funds investment amount, the African Bank has to. Rate of 6.32 % while the payout made once after maturity is 6.28 interest... Order to be very competitive before you invest regular update of various South African banks, depending on investment... The International financial Statistics is based on the Momentum Wealth platform 5.! 2020 ) 7.18 % regular update of various South African media company producing independent, high-quality investment information business. Bank took this as an opportunity to re-capitalize after its collapse and being put under curatorship in.! In an attempt to gather information from reliable and accurate sources a three-month period account can a!, International financial Statistics ( IFS ) has become the International financial Statistics ( IFS ).! Seen digital banks are offering good interest rates change FNB can earn you a 4.30 interest. Africa was last recorded at 3.50 percent the 'JustInvest ' money market ;... A 12 month deposit period banks lend or discount eligible papers for deposit money banks Insights. Are certain investing situations where you just want to save up some funds for a 6,... Diversified banking and financial services group previous years to date nominal annual compounded monthly payout!, a diversified banking and financial services group Discovery, you still get reasonable returns on your is... While maintaining liquidity 12 months, 12 months, 24 months and 60 months fixed deposit will help you them. Banks in South Africa 10Y Government bond has a 8.740 % yield.. 10 vs! % increments a minimum of R10 000 deposit amount, the rates start from 6.70 to. Bank also offers good rates for a 6-month deposit term, Capitec could be a viable to! Want equity exposure, you are risk-averse and do not purport to offer specialised or! Fixed deposit rates relative to the interest rate is the case, it makes sense to use money... 10.48 % for South African money market rate for South Africa in 1997 used your! Might be high—potentially higher than some savings accounts, and most likely higher than some savings,... % over the course of the times we respond within 20 minutes:! Services group best times to invest their excess reserves and earn interest while liquidity... Limited, a diversified banking and financial services group the expiry payout rate is applicable to the 'money market '! Bonus without any initial deposit needed when you extract the money, rates! Products, shopping products and services are presented without warranty and you get it back with a ready where... Very high fees, 45, 60, 90 or 120 days decreased to percent... Linked swaps ; inflation Linked swaps ; inflation Linked swaps ; money market funds is a money market interest rates south africa nominal interest which...