Don’t have your Nedbank ID yet?
Nedbank ID single sign-on gives you full digital access to Nedbank’s banking and lifestyle products and services on the Money app or Online Banking.
Log in
Log in to Online Banking or another one of our secured services.
Bank how and when you choose to, with the low fees or extra benefits you want.
Shop online or instore and earn rewards for it, with up to 55 days interest-free credit.
Buy foreign banknotes, transfer funds or shop globally with a travel card.
Great interest rates, with great flexibility and access to your money when you need it.
Personalised interest rates for affordable loans from R2,000 to R300,000.
Loan up to 100% of the property value or up to 105% if you are a first-time home buyer.
Choose a plan for yourself, family or build your own cover to suit your needs.
Get cover for your car, building, house contents, valuables and more.
Cover your bond, credit card, overdraft, loan and car repayments.
Choose a plan for yourself, family or build your own cover to suit your needs.
Take the right steps to achieve your financial goals with expert financial planning.
Plan for everything you own and owe, so your estate is in order when you’re gone.
Accounts
-
Everyday banking Safety, convenience and rewards
-
Youth banking For under 16s, or under 25s
-
Accounts -
Digital wallet Your phone is your bank account
-
Private Wealth The globally integrated account
-
Goal saving Easy access to interest earned
Credit cards
Digital banking
Switch to Nedbank
Fraud awareness
Forex
Rewards
Accounts
-
On demand Money available at any time
-
In 24 hours Cash in your hand the next day
-
In 32 days Funds ready within a month
-
End of term Investments left until maturity
Investment services
Share trading
Personal loans
Home loans
Student loans
Overdrafts
Vehicle finance
Solar finance
Life cover
Funeral cover
Short term insurance
Credit Life
Travel insurance
Is your business covered?
Secure Investments
Financial planning
Estate, wills & trust services
Nedbank Private Wealth
Speak to a financial adviser
Blog
Talk to us
Find us
- Login & Register
- Online Banking
- Online Share Trading
- NetBank Business
- NedFleet
- Nedbank Greenbacks
- Nedgroup Investments
- Nedbank ID
- Bank
- Accounts
- Credit cards
- Digital banking
- Switch to Nedbank
- Fraud awareness
- Forex
- Rewards
- Explore Bank
- Accounts
- Everyday banking
- Youth banking
- Accounts
- Digital wallet
- Private Wealth
- Goal saving
- See all accounts
- Get help choosing
- Family Banking
- Refugees and asylum seekers
- FAQ
- How-to guides
- Everyday banking
- MiGoals Premium
- MiGoals Plus
- MiGoals
- Discontinued accounts
- Youth banking
- Nedbank4Me
- Digital wallet
- MobiMoney
- Private Wealth
- Private Wealth Bundle
- Goal saving
- MyPocket
- American Express
- Amex Gold
- Amex Platinum
- Digital banking
- Switch to Nedbank
- Fraud awareness
- Forex
- Send and receive
- Rewards
- Save & Invest
- Accounts
- Investment services
- Share trading
- Explore Save & Invest
- On demand
- Club
- Money Market
- Stokvel
- In 24 hours
- JustInvest
- PlatinumInvest
- Tax-free Savings
- MoneyTrader
- EasyAccess Fixed Deposit
- PrimeSelect
- In 32 days
- Electronic 32Day Notice
- 32Day Notice
- End of term
- Tax-free Fixed Deposit
- Electronic Fixed Deposit
- Electronic Optimum Plus
- Platinum Fixed Deposit
- Fixed Deposit
- OptimumPlus
- Investment services
- Share trading
- Borrow
- Personal loans
- Home loans
- Student loans
- Overdrafts
- Vehicle finance
- Solar finance
- Explore Borrow
- Personal loans
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Explore loans
- FAQ
- How to guides
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Home loans
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar-energy Finance
- Earn R29,600 p/m or less? See offer
- HomeVision extra funds
- Home-buying Toolkit
- Managing your home loan
- Explore home loans
- FAQ
- How to guides
- Track application
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar-energy Finance
- Earn R29,600 p/m or less? See offer
- HomeVision extra funds
- Home-buying Toolkit
- Managing your home loan
- Student loans
- Explore student loans
- Overdrafts
- Vehicle finance
- Solar finance
- Insure
- Life cover
- Funeral cover
- Short term insurance
- Credit Life
- Travel insurance
- Is your business covered?
- Secure Investments
- Explore Insure
- Life cover
- Get a call back
- Explore MyCover life
- Funeral cover
- Individual R10,000
- Individual R30,000
- Family Cover
- Build your own cover
- Get a call back
- Explore MyCover Funeral
- Individual R10,000
- Individual R30,000
- Family Cover
- Build your own cover
- Short term insurance
- Vehicle insurance
- Building insurance
- House contents insurance
- Valuables insurance
- Get a call back
- Explore MyCover short term insurance
- Vehicle insurance
- Building insurance
- House contents insurance
- Valuables insurance
- Credit Life
- Home loan credit life
- MFC Vehicle Finance Assurance
- Overdraft Assurance
- Balance Protection Plan
- Personal loan Assurance
- Get a call back
- Explore credit life
- Home loan credit life
- MFC Vehicle Finance Assurance
- Overdraft Assurance
- Balance Protection Plan
- Personal loan Assurance
- Travel insurance
- Is your business covered?
- Secure Investments
- Guaranteed Growth Income Plan
- Guaranteed Growth Plan
- Get a call back
- Explore MyCover Funeral
- Guaranteed Growth Income Plan
- Guaranteed Growth Plan
- Plan
- Financial planning
- Estate, wills & trust services
- Nedbank Private Wealth
- Speak to a financial adviser
- Explore Plan
- Financial planning
- Investment planning
- Insurance planning
- Give
- Retirement planning
- Investment planning
- Insurance planning
- Give
- Retirement planning
- Estate, wills & trust services
- Will drafting
- Ensure your estate is managed by an executor | Nedbank
- Trust services
- Financial accounting
- Tax services
- Leave the admin of your estate to us, and not to your loved ones | Nedbank
- Will drafting
- Ensure your estate is managed by an executor | Nedbank
- Trust services
- Financial accounting
- Tax services
- Leave the admin of your estate to us, and not to your loved ones | Nedbank
- Nedbank Private Wealth
- Speak to a financial adviser
- Learn
- Blog
- Explore Learn
- Blog
- Contact us
- Talk to us
- Find us
- Explore Contact us
- Talk to us
- Find us
How to boost your emergency savings with Greenbacks
How to boost your emergency savings with Greenbacks
Staff writer
Posted 05/12/2021 Updated 28/07/2023 4 mins
Use the Structured Saver package to save in different investment accounts.
Spreading your emergency fund over a range of investment accounts makes sense. You can keep a portion that will be available immediately in a crisis, but the bulk can go into an account that locks it away for longer. You can then earn higher interest, and your money keeps growing in spite of inflation.
Structured Saver is a rewards package linked to certain Nedbank investment products. You can use Structured Saver to manage your emergency fund more effectively in any of the following accounts: 32Day Notice Account, Electronic 32Day Notice Account, JustInvest, PlatinumInvest or MoneyTrader. Best of all, your emergency savings could be boosted by R30,000, or even R50,000, if you win the monthly lucky draw. Read the competition draw terms and conditions.
Bear in mind that access to Structured Saver is available only through the our Greenbacks rewards programme on those accounts, so make sure you’re signed up to Greenbacks to get the benefit.
Why have an emergency fund?
As the name suggests, an emergency fund is there to help you in time of crisis. You can set your own rules on what counts as an emergency and when the money can be used – and especially what it shouldn’t be used for. Instant gratification, for example, is a no-no.
How much should you save? A good rule of thumb is to save enough to cover your household expenses for a set number of months. If you don’t have a high cost of living or many financial commitments, then savings to cover yourself for 3 to 4 months is a decent goal. Those with higher levels of debt like a home loan, and family commitments like school fees, might want to build a bigger cushion of 6 months’ costs to feel safe.
Use Structured Saver to meet your goals
Structured Saver is the ideal way to save for your emergency fund, because you can opt into the package and manage your investments using the Money app. The only requirement is that you’re an active Greenbacks member. If you’re already a client and you haven’t signed up for Greenbacks yet, it’s really simple.
You can apply to open any of the above accounts on the Money app, via Online Banking, or by calling 0860 555 111. You can then set up recurring transfers from your bank account to your investment account.
If you’re not yet a client, you can open an account in-branch or online, and then join Greenbacks to start earning rewards points. You earn Greenbacks based on how you manage your money, and you get access to exclusive packages like Structured Saver. This is a stand-alone package that you can activate on Greenbacks at no extra cost, which lets you link any of your existing investment accounts mentioned above.
Ideal for your emergency savings
Structured Saver is ideal for your emergency fund, because the transfer is seamless and automatic. This helps to build your savings habit – your money is safely locked away before you have a chance to buy things you want, but don’t really need.
The Greenbacks programme boosts your contributions, because you can convert Greenbacks you’ve earned into a monetary value and deposit them into your investment accounts. The Structured Saver’s lucky draw every month is another attraction. You can win R30,000 just for being part of Greenbacks, with the money paid into the investment account of your choice. If your monthly contributions are made automatically by stop order, then the amount you could win goes up to R50,000.
Most importantly for an emergency fund, you can draw your savings with 24 hours’ notice on all those accounts, except the 32Day Notice Account. This lets you keep most of your emergency fund in the 32Day Notice Account at a better interest rate, because you only need to keep one month’s expenses in accounts that are immediately available but have lower returns.
These investment options make it simple to grow your money while building yourself a safety net against future financial shocks. Stop orders and other automatic payment options help you keep up the discipline, no matter how much you can afford to save. Even if it’s as little as R100 a month, keeping up the habit is key. Over time, consistent deposits and compound interest will grow your money into a secure emergency fund.