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Money Market Account
Interest rates and fees
Effective date: 26 May 2023
R40 monthly fees
By maintaining a minimum balance of R20,000 or more and having a debit transaction of R500 or more each month, you get:
Account interest rates
Balance |
Nominal rate p/a* |
|---|---|
0.00% |
|
5.50% |
|
5.85% |
|
5.95% |
|
6.25% |
|
6.75% |
*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.
We reserve the right to vary any fee, cost or charge at any time and from time to time after giving reasonable notice.
Transparent fee structures
We use plain, simple language, because we’re committed to making our fee structures clear and easy to understand.
Bank digitally and save on fees
Bank whenever, wherever with our digital banking tools that are secure and cheaper than visiting a branch or ATM. Find the channel that fits your lifestyle.
Ask our bank fees specialists
If you have any questions about fees, call the Nedbank Contact Centre where our fees specialists will help you.
Call 0860 555 111.
Ombudsman for Banking Services
If you are not happy with our service and have followed our complaint’s procedure but are still not satisfied, you can contact the Ombudsman for Banking Services.
Call 0860 662 837
Visit obbsa.co.za
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.