An investment is a way to increase your money by putting a certain amount away for a specified time. The idea is to put money into a financial product such as a money market account, stocks, property or savings account to accrue growth. The more money you put in and the longer you leave it for, the more return you’ll get on your initial investment.
There are no risks to you. The money you deposit into our save or invest accounts is treated the same as any other bank-guaranteed investment account.
Nedbank savings and investment solutions do not charge any account maintenance fees or commissions. Certain transaction fees may however, apply. For example, you would need to pay full service fees for your account if you are on a Money Market Investment Account and your balance drops below R20,000 or debits are less than R500.
The only investment you can link to a transactional card is the Nedbank Money Market Investment Account.
You will need to bring the following documents with you:
- If you are aged over 16: your valid barcoded South African identity document (or a valid passport if you're a foreign national).
- If you are aged under 16: parent or guardian's valid barcoded South African identity document (or a valid passport if you're a foreign national) and child's birth certificate.
The Nedbank Tax-free Savings Account allows you to invest a certain amount of money every year without paying tax on the interest you earn.
There are legislated limits on how much you may invest. At present, you can contribute up to R36,000 per tax year (from 1 March to the last day of February). The total lifetime limit that you may contribute is R500,000.
- You may, but this may not be in your best interest as every amount you invest comes off the total you may invest.
- For example, if you invest R36,000 as a lump sum and midway through the year you need to access R10,000, you may withdraw the R10 000. But you cannot replace that R10,000 during the same financial year, since you have already contributed R36,000 during the year. The R10,000 that you replace will be added to your yearly cumulative contribution amount and will take your total cumulative contribution for the year to R46,000, which means SARS will penalise you on the R10,000.
You can transfer the money held in your TFSA to one held with another financial institution. You will need to visit a branch and present a transfer-in request from the receiving institution to transfer the money between financial institutions. Transfers can take up to 10 business days to complete.
This account is similar to our tax-free savings option. With a tax-free fixed deposit account. However, you can decide on a fixed term over which to invest your money. A fixed investment term generally increases your chance of earning better interest, provided your money stays in place until maturity.
This will depend on the product you’ve chosen. Additional deposits and withdrawals are not allowed on fixed-term deposits such as the Electronic Fixed Deposit and OptimumPlus. You can however, make withdrawals from your EasyAccess Deposit Account during the investment term without paying a penalty fee. PrimeSelect allows additional deposits and withdrawals.
We may release money under certain circumstances, and we will charge a penalty fee. You will need to visit a branch with your supporting documents to apply for the early release of money. For amounts of up to R50,000 you may call our contact centre on 0800 555 111. Early releases are at our discretion.
- You can apply through our contact centre on 0800 555 111.
- Use Online Banking or the Money app, but only if you have an existing Nedbank digital banking profile.
Yes. We will issue you an income tax certificate (IT3) after February every year. You will get a certificate only once you have earned a minimum amount of interest, as the South African Revenue Service (SARS) prescribes from time to time. The tax certificate will show your interest earned during the year, whether we have paid it out or whether it is still accruing in your account. Your tax requirements are unique to your profile, and we recommend that you seek advice from a qualified tax or financial consultant for expert guidance.
The exception to the above is our range of tax-free products where you pay no tax on the interest earned.
SARS will penalise you when you submit your tax returns. The penalty is currently 40% of the amount of the excess contribution.
For example, if you contribute R36,100 for the year, you will be penalised on the R100 that exceeds the limit. The penalty will be 40% of the R100, which is R40.
The limit is applied to you as an individual and not to each account. In other words, if you open multiple TFSAs at one bank, or at various banks and financial institutions, you are still allowed to invest only R36,000 per year collectively in your various tax-free savings and as well as fixed-deposit accounts.
If you invest in a TFSA or tax-free fixed deposit account, you will receive a tax certificate at the end of the financial year for that specific account.
No. We can pay out the interest monthly or you can choose to have it capitalised (added to the investment amount). If you choose to capitalise your interest, it will not be considered as part of your contributions.
You will receive a statement for each investment. These are made available on the Money app or Online Banking for your easy retrieval. To view or download your statements for free, simply register for a Nedbank ID, which allows you to manage your investment account on our digital platforms.
If we do not have your consent to reinvest your money or if there are no payout details on record, we will automatically reinvest your capital into a notice deposit at the rate applicable at the maturity date.
Log in on the Money app or Online Banking, click on Transactions in the main menu, and then on Statements.
You will see preloaded statements. Or you can select the type of statement you wish to view or download.
Yes, you can receive your statements by email each month. Please contact the contact centre on 0800 555 111 to request this.
You can view your tax statements on the Money app and Online Banking. They are also available for download.
Electronic Fixed Deposit accounts are exclusively available on the Money app and Online Banking. They offer preferential rates and are for use on our digital banking platforms only.
The money you deposit is invested over a fixed term of your choice between 1 and 60 months. Other digital-only investment accounts are the Electronic OptimumPlus for ages 55 and older, and the Electronic 32Day Notice account.
- A flat interest rate applies to the Nedbank MoneyTrader regardless of the balance in the account, unlike the tiered rates on a JustInvest (where you earn more if you invest more).
- The minimum opening deposit for a Nedbank MoneyTrader is R50,000 whereas the minimum opening deposit for a JustInvest is R5,000.
- Stop orders on a Nedbank MoneyTrader may only be processed monthly while stop orders for JustInvest can be processed weekly or monthly.
- The minimum additional deposit on a Nedbank MoneyTrader is R5,000 and the minimum additional deposit on a JustInvest is R500.
- The minimum withdrawal amount on a Nedbank MoneyTrader is R5,000 and the minimum withdrawal allowed on a JustInvest is R500.
An umbrella that covers several types of secured transactions, which vary according to the needs of the lender and borrower.
A money market account is an interest-bearing account at a bank. Most money market accounts pay a higher interest rate than regular savings accounts and often include debit card privileges.
The interest rate is always expressed as a yearly rate, so the first step to calculate interest on a money market account is to divide the yearly rate by 52 (the number of weeks in a year) to find the interest percentage that will be paid for the week.
Medium term is a holding period that is intermediate in nature. The exact period of time that is considered medium term depends on the investor's personal preferences.
In the fixed-income market, bonds that have a maturity period of 2 to 10 years are considered to be medium-term bonds.
A core investment strategy is by definition low-risk. Core investors tend to take a very long-term approach towards real estate investment, viewing real estate as a bond substitute with some diversification and inflation-hedging characteristics. They generally do not view real estate as a way to maximise returns. In the property markets, core strategies generally encompass the direct ownership of high-quality, fully leased assets located in primary markets that are well-diversified economically and that offer significant liquidity.
Growth investing is an investment style and strategy that is focused on increasing an investor's capital. Growth investors are likely to invest in growth stocks, that is, small companies whose earnings are expected to increase at an above-average rate compared to their industry sector.
Any situation where you have the option of buying something that has a chance to gain value in the future. The key to making money through investing is knowing which opportunities to take advantage of and how to manage them.
Your investment plan should outline what you’re planning to use the money for, how long you’re willing to leave it invested and what vehicles you put your money into to achieve your goals.
When it comes to savings, the rules are different for everyone. The general rule of thumb is to allocate at least 15% of your pre-tax income to retirement savings. After you have done this, you can then consider the following spending guidelines for your after-tax income:
- 60% for necessities (housing, food, utilities)
- 30% discretionary (entertainment and luxuries)
- 10% into discretionary savings (e.g. for education, emergency fund, holidays)
Check our savings and investments options to see what works for you.
A stokvel is a savings pool where a group of individuals contribute an agreed-upon monthly amount. The group has full control of how they would like to use that money. Two common methods are to pay out monthly or yearly. The group can make monthly payouts, or they could keep investing their savings and get a sum at the end of the year.
The money in the stokvel offers each member in the group an equal and fair benefit. So, if your group decides to include R1,000 each month per member, and the group has five people, that R5,000 is up for grabs equally to everyone.
Being a member of a stokvel is voluntary, and usually, members are introduced to the stokvel on a personal recommendation. It makes it easier for these stokvels to have an informal agreement.
A Nedbank Stokvel Account is a standard group savings account that offers additional benefits to all members. Stokvel members can enjoy great offers, including a discount of up to 10% on groceries or school supplies and a R10,000 burial cover for each member.
This is standard group saving account with additional benefits, including:
- burial cover to the value of R10,000 per member (for R25 per member per month); and
- discounts on groceries and school supplies at selected Nedbank partners depending on the account closing balance at year-end.
For Club Savings Accounts
If you are an existing Nedbank Club Savings Account member, you simply need to complete and sign the Stokvel Insurance Declaration and member form and the Stokvel Account terms and conditions. Once this has been done (either in a branch or through the contact centre), you will need to submit all your member details (including name, surname, identity number, cellphone number and physical address) in the branch. You will receive a Stokvel Account welcome pack and all members will receive an SMS to confirm that their policy is active when your application has been approved.
For new stokvels
If you are an existing Nedbank client, dial *120*001# and follow the instructions.
If you are a new Nedbank client, you and your main stokvel signatories will need to go to a branch to sign up for a new account. You will need the following documents:
- Valid South African identity card or document for each member.
- Copy of your stokvel constitution.
- Copy of your stokvel meeting minutes.
- Proof of address for the stokvel’s chairperson, secretary, and treasurer.
No. To open an account, you can dial *120*001#, visit a branch or call our toll-free number on 0800 555 111.
Dial the Nedbank Contact Centre number, 0800 555 111, and say that you have a stokvel query. They will put you through to the stokvel team.
No, this is a bundled offering.
The premium of R25 per member is debited directly from the Stokvel Account.
When you make a valid claim, this benefit is paid as a cash amount into the Stokvel Account. You can use the R10,000 for any funeral costs such as groceries, buying a cow or to settle debt left as a result of the passing of a breadwinner.
There is a six-month waiting period for all-natural deaths, while accidental death is covered from when we receive the first premium.
No, the burial cover is available only to the direct members of the Stokvel Account.
We will pay the money into the Stokvel Account. Your stokvel leadership will pay out the R10,000 to your family.
The maximum age is 65, stokvel members need to be between the ages of 18 and 65 to qualify for the burial cover.
Yes, we do.
We do not cover suicide within the first 12 months.
To benefit from this burial cover, you must be part of a stokvel. If a member leaves the stokvel, that member will no longer be covered by the Stokvel Account’s burial cover.
You may contact Nedbank Insurance if you want to take up individual burial cover. We will quote the premium on an individual basis, which may result in a higher premium.
Yes. But we will quote the premium on an individual basis, which may result in a higher monthly premium. You must call the Nedbank Insurance Contact Centre directly on 0860 333 111.
There are no risks to you. All money invested in these accounts is treated the same as any other bank-guaranteed investment account.
Yes. We will create the policy as soon as Nedbank Insurance receives the members’ details. A six-month waiting period will apply for death because of natural causes, while we cover accidental death as soon as we receive the first premium.
We can cover an unlimited number of stokvel members, if we receive the premium of R25 per member per month.
You may be insured under up to three Nedbank-registered stokvels. Therefore, the maximum payment you can receive is R30,000.
The monthly premium of R25 per member will be debited directly from the Stokvel Account. If this amount (ie the total premium for all members) is not available in the Stokvel Account, we will deduct a double premium the following month. If this double payment does not go through the next month, we will cancel the policy. The stokvel leadership must therefore ensure that there is sufficient money in the account at the end of every month to cover the premium payment.
The stokvel leadership will need to go to a branch to reinstate the burial cover. A new six-month waiting period will apply in this case, as we will have to issue a new policy.
We will make the payout to the Stokvel Account in 24 to 48 hours from the time we receive the required information (listed below). The claims process is as follows:
- A member of the stokvel leadership must call the Nedbank Contact Centre or visit a Nedbank branch to submit a claim.
- A member of the stokvel leadership must give the following information:
- Name and surname of deceased
- Identity number of deceased
- Cause of death
- Date of death
- Name and account number of the stokvel
The stokvel will receive the payout in cash in the Stokvel Account. The stokvel leadership must pay the money to your family members according to the governing rules of the stokvel.
You qualify for a discount at selected Nedbank partners based on your account balance on 31 October each year. The discount percentage depends on the closing balance of the Stokvel Account. Discount tiers (or levels) are as follows:
|R10,000 to R19,999||Up to 5%|
|R20,000 to R29,999||Up to 8%|
|R30,000 and above||Up to 10%|
No, these discounts are applicable only at the end of the year and can be used over a three-month period. The discounts will be applicable only to stokvels that maintain the required monthly balance amount and have the required balance in their account on 31 October every year.
On the login screen, click on Forgot your details?
If you have forgotten your username
Click on Forgotten your username?, complete the details and follow the instructions. Please have your cellphone with you.
If you have forgotten your password
Click on Forgotten your password?, complete your username, insert a new password and follow the instructions. Please have your cellphone with you.
To change your password, simply follow these steps:
- Go to the Nedbank ID page.
- Log in using your current username and password.
- You will see your name in the top right-hand corner with a drop-down arrow next to it.
- Click on the arrow, select Change password and make your changes.
Your password will be revoked after three unsuccessful attempts.
If you have forgotten your password, click on Forgotten your password?, complete your username, insert a new password and follow the instructions. Please have your cellphone with you.
Yes, you can – simply follow these steps:
- Go to the Nedbank ID page.
- Log in using your existing credentials.
- You will see your name in the top right-hand corner with a drop-down arrow next to it. Click on the arrow, select Change username and follow the instructions.
Once your username is changed, you will automatically be logged out and will need to log in again with the new username.
A Nedbank ID is a unique username and password that gives you online access to all our products and services and provides a secure way of interacting with us. With a Nedbank ID you can:
- use the same username and password across all your Nedbank products and services, such as Online Banking, which means you don’t have to remember multiple login details;
- access services that you would normally have to go into the branch to get done;
- get an integrated view of your accounts when you interact with us online; and
- enjoy a safer banking environment using Approve-it technology.
You need a Nedbank ID to access any of the Nedbank digital channels.
Some of your personal details may be outdated. For help please call our contact centre on 0800 555 111.
If you are having trouble accessing your account using your Nedbank ID username, please follow these steps to check that your personal details are correct:
- Go to the Nedbank ID page.
- Log in using your current username and password.
- You will see your name in the top right-hand corner with a drop-down arrow next to it. Click on the arrow, select Your details and update your details if necessary.
(If your details are all correct but you have trouble accessing your account, please contact the Nedbank ID helpline on 0860 555 125.)
Yes, you can.
- Go to the Nedbank ID page.
- Log in using your existing credentials.
- You will see your name in the top right-hand corner with a drop-down arrow next to it. Click on the arrow, select Your details and update your details as required.
If you are a South African resident, we cannot pay into a non-South African bank account. We can pay to a non-South African bank account only if you are a non-resident client.