Platinum Invest Account

Interest rates and fees 

Published: 20 November, 2021


Account interest rates









* Nominal rate per annumThis is the annualised interest rate that you will earn daily and is capitalised monthly. This rate does not take into account the compounding interest effect.
   Annual Effective Interest rate Annualised interest rate that takes into account the compounding interest effect for one year assuming interest is  not withdrawn.


R80 plus R2 per R100

R1.20 per R100

R26 per payment

One free payment a month, thereafter R26 per payment





See pricing guide for 2022


  1. The initial cash deposit into an investment account does not attract any fees. 
  2. This fee applies to a notice of withdrawal to a recipient and is deducted from the withdrawal amount. A recipient is any account other than your own Nedbank accounts.
  3. Self-service channels include Online Banking and the Nedbank Money app.
  4. Fee charged for notice of withdrawal done to any account, including your own Nedbank accounts, using physical channels.
  5. One free statement per month via mobstat or email. Statements may also be accessed via Online Banking free of charge.
  6. One free tax certificate per year via mobstat or email. Tax certificates may also be accessed via online banking free of charge.
  7. This fee applies to any fixed term deposit that is withdrawn before the end of the investment term, and a 32Day Notice Deposit that is withdrawn before the notice period required. The percentage used to calculate the penalty fee as well as the administration fee, will be available at the NCC or at any branch.


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 accounnt 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 below:



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.