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Electronic OptimumPlus Account

Interest rates and fees 

Published:  09 October 2024

Account interest rates

Balance Range
Period of Investment
Nominal Rate p/a*
Equivalent Annual Effective Rate (AER)**
Rate at Maturity***

1 Month

-

-

7.40%

3 Months

8.00%

-

8.05%

6 Months

8.15%

-

8.28%

12 Months

8.30%

-

8.62%

18 Months

7.80%

8.08%

8.24%

24 Months

7.85%

8.13%

8.46%

36 Months

7.90%

8.19%

8.88%

60 Months

8.95%

9.32%

11.23%

1 Month

-

-

7.60%

3 Months

8.20%

-

8.25%

6 Months

8.35%

-

8.49%

12 Months

8.50%

-

8.83%

18 Months

8.00%

8.29%

8.46%

24 Months

8.05%

8.35%

8.70%

36 Months

8.10%

8.40%

9.13%

60 Months

9.05%

9.43%

11.39%

1 Month

-

-

7.70%

3 Months

8.30%

-

8.35%

6 Months

8.45%

-

8.60%

12 Months

8.70%

-

9.05%

18 Months

8.10%

8.40%

8.58%

24 Months

8.15%

8.46%

8.81%

36 Months

8.20%

8.51%

9.26%

60 Months

9.10%

9.48%

11.46%

1 Month

-

-

7.80%

3 Months

8.40%

-

8.45%

6 Months

8.55%

-

8.70%

12 Months

8.80%

-

9.16%

18 Months

8.20%

8.51%

8.69%

24 Months

8.25%

8.56%

8.93%

36 Months

8.30%

8.62%

9.38%

60 Months

9.25%

9.65%

11.70%

* Nominal interest rate – the annualised interest rate that you will earn, calculated on the daily balance of your investment if interest is paid out monthly. 

** Equivalent Annual effective Rate (AER) - the annualised interest rate that you will earn on the money invested, compounded annually in arrears. (Shown to two decimal places) 

***Rate at Maturity- the rate you get if you choose to have all interest paid when your investment matures. 
Calculated using the original investment amount only at a fixed interest rate, with no compounding.
Note: This is the contracted rate to two decimal points. 

Account fees

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2024 pricing guide

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2023 pricing guide

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Income tax

During tax season, SARS requires you to submit an income tax return (ITR12). We will provide a tax certificate IT3(b) and/or IT3(s) for your investment account for each tax year, on or before the end of June to enable you to complete your tax return.

An IT3(b) will give you a summary of any interest and dividend, both local and foreign, that you would have earned by having money invested.

Should you have a Tax-Free Savings Account with us, you will also receive IT3(s). This certificate will give you a summary of all the details about your Tax-Free Savings account such as interest and dividends.

You will need these certificates for when you complete your Tax Return.

We will provide one free tax certificate each year, if any additional tax certificates are required please find the fees in our latest pricing guide.