Easy Access Deposit Account

Interest rates and fees 

Published: 10 March 2023

Account interest rate

Period of Interest
Nominal Rate p/a*
Effective Interest Rate**

R25,000 - R249,999



R250,000 - R999,999



R1000,000 - R99,999,999



*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.

**Effective Interest rateThe rate associated with the investment should you choose to get all your interest paid when your investment matures.

Account fees


2024 pricing guide


2023 pricing guide


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.


Tax free accounts

You don’t have to pay income tax, dividends tax or capital gains tax on the returns from a Tax-Free Savings account. The interest that you accumulate in this type of account will not be taxed. However, with this type of account you can only invest up to R36,000 a year, and up to R500,000 in your lifetime. The Tax-Free Investment account works best as a long-term option, which allows you to take advantage of compound interest.

Some savings accounts will require a minimum balance to avoid monthly fees, while others will have no minimum balance requirement.

Your IT3(b) and IT3(s) must be sent to SARS even if the interest paid or earned is the same or more than the interest prescribed by SARS from time to time.