Make Payments. Deposit Interest Rate in South Africa decreased to 3.94 percent in October from 4.08 percent in September of 2020. Best fixed deposit rates in South Africa 2021, 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? The larger your deposit, the higher the interest rate on your account. To open this account, bring along your proof of residence (not older than 3 months) and your South African ID book or ID card. If you then give 10 days’ notice when you extract the money, the interest jumps to 10%. African Bank has the best fixed deposits for 2020 with a 12.22% interest rate, followed by Discovery Bank at 9.01% and FNB at 7.80%. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. The benchmark interest rate in South Africa was last recorded at 3.50 percent. But no investment is risk-free. Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices. Their 60 months fixed deposit product returns rates up to 7.76% on your fixed deposits. The Johannesburg Interbank Average Rate (JIBAR) is the money market rate used in South Africa. Interest rates offered are subject to confirmation when the funds are received by Nedbank. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. The yields on South African 10-year bonds have spiked to above 12% - and there's now a record-large gap between SA and US yields. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . In this article, we discuss the best fixed deposit rates relative to the deposit terms available here in South Africa. South Africa Savings Accounts. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles. • Immediate access to 10% of your funds. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. Invest Now. For the amounts between R10,000.00 to R249,999.00, the interest rate is 7.65%, while R250,000.00 to R499,999.00 its 7.70%, R500 000 to R999,999.00 its 7.75%, and any amount from R1 million going up the rate is 7.80%. Central Bank Rate is 3.50% (last modification in July 2020).. Provider Rate Type; FNB Savings. Last updated on 1 April 2020. We offer market updates and online financial tools. Clients older than 55 years in age get interest rates of up to 8.50% per annum. Add To Cart. Last Update: 20 Jan 2021 9:15 GMT+0. You qualify for Employee Relief Funding, How South Africans will benefit from GVT’s R500 Billion Relief, 5 key takeaways from COVID-19 lockdown extension, Ethereum in South African Rands (Ethereum to Rand or ETH/ZAR), Here’s how much the latest rate cut will save you on a 1 million bond, 10 Best Life Insurance Covers in South Africa 2021, Standard Bank Student Achiever Account Review 2021. Depending on your investment amount, the bank offers interest rates from 5.30% up to 6.17% per annum. This is bad news for government's finances, as bond yields guide the interest rates that the state pays on borrowed money. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. You also have the added convenience of linking your account to a Standard Bank transactional account for simple inter-account transfers. Money market yields. Bidvest Bank also offers good rates for a 6-month deposit term. Even though the SARB Governor Lesetja Kganyago announced the decision to cut the Reserve Bank’s repo rate to 3.75% on May 21, African Bank still continued to offer 10.75% interest rate per annum for a five-year fixed deposit. The South Africa 10Y Government Bond has a 8.740% yield.. 10 Years vs 2 Years bond spread is 430.5 bp. When evaluating offers, please review the financial institution’s Terms and Conditions. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Mark as New Related Post The monthly interest payout has a 6.95% rate, while interest received on maturity attracts a 7.18% rate. Beki Mafulela explains their mechanics. The majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. African Bank took this as an opportunity to re-capitalize after its collapse and being put under curatorship in 2014. Obviously, this alone is a stride among other competitors. More Info. A South African media company producing independent, high-quality investment information and business news. We offer market updates and online financial tools. To get the best out of fixed deposits, you have to pen down clear goals in terms of the time you want to lock in your money and the interest you are willing to earn from your invested money. The South Africa credit rating is BB-, according to Standard & Poor's agency.. Current 5-Years Credit Default Swap quotation is … Our team of experts bring you leading insights every quarter. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. The monthly rate actually earned (Nominal rate) on a 12 month deposit period is 6.13% while the rate earned for the period (effective rate) is 6.30%. Understanding how money market unit trusts work can help you use them effectively in your portfolio. Their rates are highly competitive not to mention their transactional account. The South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced the latest decision on interest rates for the country. Subscribe to our newsletter. Beki Mafulela explains their mechanics. At present, they are offering very competitive rates on a 12 month fixed deposit account. Considering that the money would have been less affected by inflation because of the short term, the returns are really good. The following are the 3 banks offering the best fixed deposit rates: African Bank has been showing up at the top of the list in almost all the deposit terms. Chief Economist at Investec Annabel Bishop echoed the same sentiment. Despite the wave of rate cuts this year, the African bank has continued to offer very competitive rates among its competitors. Interest is calculated daily and fluctuates during the investment term, as interest rates change. They have an interest rate that scales from 6% to 9% over a three-month period. The IMF may grant additional rights in writing, upon request. All proprietary rights and author's rights in the Work are the property of the IMF. With this kind of rate, you get to gain about 3% real value on your money, taking into account the effects of inflation. 6.25%. Old Mutual provides an option to invest in their unit trust based on tax-free investment with an annual maximum of R33,000 and a lifetime maximum of R500,000, as you enjoy the benefits to those of a standard unit trust investment portfolio. Deposit Interest Rate in South Africa averaged 10.30 percent from 1977 until 2020, reaching an all time high of 21.60 percent in August of 1998 and a record low of 3.94 percent in October of 2020. But no investment is risk-free. View more. With African Bank, you receive a 12.22% rate if you decide to get your interest payout at the expiry date of the fixed deposit account. Enjoy superior investment rates at your own convenience Try us today by selecting an investment it only takes a few minutes . South Africa official interest rate is the repo rate. This is lower than the long term average of 10.35%. South African - Interest Bearing - Money Market Funds: Date: Effective Annualised Yield (%) Fund Size (R mill) Fund Name: TER Date: TER: 6 Months Cash Value: Rank The IMF represents that the International Financial Statistics (hereafter referred to as the Work) is original and has been or will be copyrighted in the United States and that such copyright shall be effected in compliance with the Universal Copyright Convention. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Thinking of locking your money for some time? For a 6 months deposit term, your money can grow at an average competitive rate of 6.32% up to 6.40%. internationally licensed and regulated broker, Best bitcoin wallets in South Africa 2021, Absa Evolve Pay As You Transact Business Account Review 2021, Absa Islamic Business Evolve Zero Account 2021, Absa Islamic Evolve Pay As You Transact Business Account Review 2021, Absa Business Evolve Zero Account Fees 2021, Understanding the power of the compound interest, The Basics of Forex Trading: Explained for South Africans, A guide for South Africans on how bonds work. For the monthly interest payout (nominal annual compounded monthly) you receive 7.75% interest, 7.55% rate for interest received at maturity (effective) and 7.16% rate for up front interest. A Standard Bank MoneyMarket Call Account gives you immediate access to your business funds. Sasfin Bank is a part of the Sasfin Holdings Limited, a diversified banking and financial services group. [ View Bank ] Side note: As discussed in this quora post , only the best investors in the world achieve a 10% return on their investment in the long term. • Notice period is 45 or 90 days. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . For all solutions offered by For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. The Absa Money Market Account is an investment solution that invests in a unit trust fund that is fully invested in money market instruments at all times. By continuing to use our website without changing the settings, you are agreeing to our use of cookies. This digital bank, big in setting bars in the investment industry, Discovery doesn’t stop at providing financial literacy to its clients. The monthly interest payout rate is 6.32% while the expiry payout rate is 6.40%. Discovery Bank has not only outdone other banks digitally but is now also a real competition to the big 5 banks in terms of investments. 9) Investec Their rates range from 6.18% to 6.35% depending on your preferred interest payout plan. This website uses cookies. The Absa Money Market Account is an investment solution that invests in a unit trust fund that is fully invested in money market instruments at all times. In the past few years, the nation’s big five in the banking industry has been modernizing their products to meet the tech-savvy clients through their online services. Thanks Simon , I mean any other money market account in South Africa as well, I see Stanlib shows 10.26 on their website.What about the other banks?? 3. While the principal amount can be accessed at maturity, your interest payouts can be received monthly, every 6 or 12 months, or you can wait till maturity. To reproduce the Work or part of it in internal documentation (internal newsletter, newspaper, notes, etc.) Rateweb strives to keep its information accurate and up to date. Interest Rate in South Africa averaged 12.26 percent from 1998 until 2020, reaching an all time high of 23.99 percent in June of 1998 and a record low of 3.50 percent in July of 2020. Commercial Banks Self-Sufficiency. Economic Data, Research, Advisory, Forecasting Banks are offering higher deposit rates to attract high-quality investors; this trend produces competitive rates in the market, which is an advantage to you as an investor. Today, the bank is offering the best interest of 7.37% for 24 months fixed deposit with a minimum. Interest Rate in South Africa averaged 12.26 percent from 1998 until 2020, reaching an all time high of 23.99 percent in June of 1998 and a record low of 3.50 percent in July of 2020. The data for the 10-year rate refers to the par yield rates. In the past few years, we have seen digital banks offering competitive rates that are taking most traditional banks out of the game. Open a money market account that will help you grow your savings and earn top interest rates, while still giving you quick access to your funds, plus all the benefits of a transactional account. The International Financial Statistics is based on various IMF data collections. Currently, their 3 months fixed deposit rate is 5.35%. the 5 fixed deposit terms in subject are; 3 months, 6 months, 12 months, 24 months and 60 months. Discovery Bank offers up to 9.01% interest rate from a deposit of at least R10 000. For an amount of R10 000 to R24 999, the nominal rate is 5.30% while effective is 5.43%, R25 000 to R99 999 the nominal rate is 5.85% while effective is 6.01% and amounts above R100 000 have a nominal rate of 6.00% while effective is 6.17%. A Fixed Deposit is more like a savings account, only this time your investment has an expiry date and a fixed rate. To use the Work, for private or other personal use only and to refrain from any commercial distribution of the work or part of it. Here are 3 banks offering the best 6 months fixed deposit rates in South Africa: In terms of investments, African Bank has proven itself as the lead over most of the institutions in the financial industry. Swaps; Inflation Linked Swaps; Money Market; FRAS; JIBAR; View more. There are different types of fixed deposits accounts to invest in here in South Africa. Benefit from high interest rates comparable to Money Market Funds, immediate access to your money and capital guaranteed Typical default rates range between 2% and 8% for South African banks, depending on the vetting process and type of loan. Nedbank came in at the other end of the stick as its interest rates proved lowest at 0.76%. Fixed Income rates. This presents an opportunity for money market funds to earn a modest pick-up in yield, but absolute and inflation-adjusted returns remain meagre versus history. Money market yields; Speak to your financial adviser before you invest. In each edition we aim to provide you with unique and relevant information on current trends and themes concerning Africa and the rest of the world. Their milestone is being one of the top best cooperate banks in 2018. Call Accounts; Investec call rate - 4.05% Invest Now The rate as quoted is nominal, indicative, net of fees and correct as at 19 October 2020. the company visit moodysanalytics.com. his stands head and shoulders above the rest in the market as FNB’s range cap follows at 6.30% and Absa at 3.70%. In South Africa, a money market account is a type of investment issued by some banks that is an alternative to a savings account or fixed deposit.Unlike a fixed deposit there is not a defined investment term, so funds can be invested into the products indefinitely and the rate of return may vary depending on the deposit balance. Our team of experts bring you leading insights every quarter. from R10 000 to R19 999 1.00%. Top5 Optimiser Save from R100,000* or from R250,000** • Daily rate approximates the average of the top 5 qualifying¹ money market funds’ published daily rates. For the 24-month deposit term, Capitec could be a viable option. Join your colleagues in participating in this On an account with a balance of R10 000, the rates start from 6.70% to 7.18%. The rate used on your account is influenced by your preferred interest payout intervals. Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. Most of the times we respond within 20 minutes. In our research, 3 months was the shortest fixed deposit term we looked at however, you have the option of setting up a 1-month fixed term account. Rates displayed are indicative only and are delayed by 15 minutes. The monthly interest payout rate is 6.79%, the semiannual rate is 6.88% and the annual and expiry date interest payouts rates both are at 7%. These accounts vary according to the interest payout you opted for. Re:Money Market Interest rate? Access to class-leading South African money market funds. Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. For upfront interest payout the interest rate is 6.70%. The principal investment is withdrawn at the end of the fixed period (term) agreed on at the time of deposit. % p.a., NSA Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 3 4 5 6 7 8 NaN%. $75.00. Chief Economist at Investec Annabel Bishop echoed the same sentiment. For every account, the rate effectuated is determined by the interest payout you choose and the account balance. He thinks South Africa will likely follow big developed markets such as the US and the UK, which are not looking to increase interest rates until at least 2022. “SARB will keep rates stable and flat for the foreseeable future,” he said. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. Rateweb is not a financial service provider and should in no way be seen as one. 7.05%. You put your money in and you get it back with a sliver more. The benchmark interest rate in South Africa was last recorded at 3.50 percent. Digital banks are undoubtedly the current craze these days in South Africa. Deposit idle cash into that account, and let it grow safely. A 3 months term fixed deposit account with FNB can earn you a 4.30% interest at the end of the term. When the former is the case, it makes sense to use a money market account as a substitute for savings. From long term fixed deposits to the short term ones, their interest rates are very competitive. Their interest rates start out at 7.7% interest for the first 3 months and can be increased to as much as 10.75% interest the longer you hold your money, which is outstanding. Money market unit trusts were eventually introduced to South Africa in 1997. Subscribe . If you are risk-averse and do not want equity exposure, you might have to really consider them. Make Payments. More about RMB. It comes in one-month, three-month, six-month, and 12-month discount terms. At a 4.6% interest rate, a 9-month South African Government Treasury bill now yields +0.7% higher than the equivalent-maturity local bank deposit. Nominal interest rate over 12 months 3.65% Minimum opening deposit of R100 000 Earn a money market fund related rate, plus your capital and quoted returns are fully guaranteed. Despite the fact that Discovery Bank got its first wave of new customers earlier last year, the bank is taking the banking industry by storm. Not to infringe upon the integrity of the IFS you have downloaded by mean of data transmission, and in particular to refrain from any act of alteration of the Work, such as abbreviation, reorganization, re-structuring thereof. What is a financial advisor? South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. The average interest rate you can earn in your fixed deposit account is 5%. (RTTNews) - South Africa's consumer price inflation eased in December, figures from Statistics South Africa showed on Wednesday. According to a research we recently conducted, the bank surfaces among the banks offering best-fixed deposit rates for a 12 month deposit period. Deposit or withdraw any amount at any time. JOHANNESBURG - The Monetary Policy Committee (MPC) decision press conference will be held today where the South African Reserve Bank (SARB) will announce the repo rate. First published in January 1948, International Financial Statistics (IFS) has become the International Monetary Fund’s principal statistical publication. Old mutual tax free savings . admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. This is the rate at which central banks lend or discount eligible papers for deposit money banks. Money Market Rate for South Africa from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Locking up your money in a short term investment such as a fixed deposit will help you gain real value on your savings. Rates. More Info. The insurance giant also offers very competitive interest rates on investments. Copyright © 2003 By International Monetary Fund. Get immediate access to your money and manage your funds online. Available indicators normally include a country's exchange rates, Fund position, international liquidity, monetary statistics, interest rates, prices, production, labor, international transactions, government accounts, national accounts, and population. In each edition we aim to provide you with unique and relevant information on current trends and themes concerning Africa and the rest of the world. All financial products, shopping products and services are presented without warranty. We respond to all communication within 1 Day. From a minimum of R500 deposit amount, you can earn impressive interest with rates from 6.79% to 7% per annum. Black Friday, stock markets reopen, college football: 5 things to know Friday . Money market account interest rates generally are variable, meaning they can fluctuate. South African banks resisted the introduction of money market funds for many years, as they had a monopoly on the investment of short-term funds. Overview of policy rate changes in South Africa. or/and in documentation distributed to your own clients provided that the "IMF Source" is attributed. All rights reserved. There are two interest payout options you can choose from, the monthly payout which has a 5.03% rate and the payout on maturity at 5.08%. Black Friday, stock markets reopen, college football: 5 things to know Friday . Discovery Money Market Fund: 3.95%: Glacier Money Market Fund: 4.05%: Gryphon Money Market Fund: 4.27%: Ninety One Money Market Fund: 3.87%: Momentum Money Market Fund: 4.14%: Nedgroup Money Market Fund: 3.93%: Oasis Money Market Fund: 4.56%: Old Mutual Money Market Fund: 4.00%: Prudential Money Market Fund: 3.79%: PSG Money Market Fund: 3.42%: RECM Money Market Fund: … Do you need one? According to Fundsdata.co.za the cheapest money market fund is the Colourfield BCI Money Market Fund, which had a TER of 0.17% to 31 December 2017. Interest rates offered are subject to confirmation when the funds are received by Nedbank. The rate is applicable to the 'money market investor' product an - ZAR - Aug, 2019. When the former is the case, it makes sense to use a money market account as a substitute for savings. Here, we will discuss 5 fixed deposit terms and their respective top 3 best interest rates in South Africa. • Access 0% - 50% of your funds in 10% increments. Importantly, the repo rate has been slashed from 6.5% to 3.5% over the course of the year. • Prime-linked interest rate. Created with Highcharts 5.0.2. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. International Financial Statistics. There are certain investing situations where you just want to save up some funds for a short period in order to be more liquid. A regular update of various South African money market funds available on the Momentum Wealth platform. Subscribe to our newsletter. Fixed deposits ensure capital protection and uniform flow of income. A South African media company producing independent, high-quality investment information and business news. Also, the rates become high as the account balance increases. South Africa surprised investors with its decision Wednesday to raise interest rates, just hours after a dramatic hike in Turkey and a more modest … The rate is dependant on the intervals you receive your interest payouts. Old Mutual provides an option to invest in their unit trust based on tax-free investment with an annual maximum of R33,000 and a lifetime maximum of R500,000, as you enjoy the benefits to those of a standard unit trust investment portfolio. We use cookies to make your experience with us better. Performance Comparison Between Money Market Accounts and Money Market Funds Allan Gray Money Market Fund - 4.62% Invest Now Coronation Money Market Fund - 3.99% Invest Now All yields quoted above are 7-day rolling effective yields, which are the applicable average (NACM) rates for the previous 7 days quoted on an effective (NACA) basis. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. FNB Money Maximiser Account. Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. The other good thing about the bank is that their minimum deposit amount (R500) allows startup investors to also jump in. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. The interest rate on short term investments might look small, but the fact is that you would have gained real value for your money. Old mutual tax free savings . Knowing all this, let’s have a look at the best savings interest rates. A regular update of various South African money market funds available on the Momentum Wealth platform. Usage of the International Financial Statistics (hereafter referred to as the Work) information from the International Monetary Fund (IMF) is based on users acceptance of the following conditions: Download and usage of IMF data retrieved via Moody's Analytics, imply understanding and acceptance of the above copyright information and usage limitations. Subscribe . Money market yields. South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. The IMF is the sole holder of the exclusive reproduction, distribution and adaptation rights, including the right of intangible transmission and communication of the Work. The Discovery marked its presence with a claim of being the world’s first “behavioural bank”, designed to promote financial literacy among its customers. Nedbank Money Market Account. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity.” (https://stats.oecd.org/index.aspx?queryid=86). Money market yields; Speak to your financial adviser before you invest. South Africa surprised investors with its decision Wednesday to raise interest rates, just hours after a dramatic hike in Turkey and a more modest … “With South African interest rates at a near 50-year low, it makes sense to maintain or even increase the amount you pay back on a loan every month if you can possibly afford to do so. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. South Africa - Money Market Rate. This is mainly because of the fierce competition in the market creating good investment opportunities for customers. A minimum of R10 000 deposit amount can earn about 6.09% to 6.28% interest rate. Non-residential - Commercial & Retail - Vacancy, Nominal Fixed Investment (gross fixed capital formation), Real Fixed Investment (gross fixed capital formation). exclusive survey of global business confidence. It comes in one-month, three-month, six-month, and 12-month discount terms. • Notice period from 32, 45, 60, 90 or 120 days. The capital market benchmarks its interest rates based on the prevailing interest rate in the money market. At a 4.6% interest rate, a 9-month South African Government Treasury bill now yields +0.7% higher than the equivalent-maturity local bank deposit. All Rights Reserved. Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. What do the fund managers of money market funds invest in? Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. South Africa Deposit Interest Rate is at 7.01%, compared to 7.00% last year. Normal Convexity in Long-Term vs Short-Term Maturities. As interest rates remain stubbornly low at near 40-year lows, investors are paying more attention to how to invest their cash holdings better. Generally, fixed deposits with a longer-term have higher rates of interests. More about our Global markets Insights Newsletter short term investment such as a substitute savings. Has become the International financial Statistics is based on the intervals you receive your interest payout is... View more published in January 1948, International financial Statistics is based on various IMF data collections fixed. Reasonable returns on your savings jumps to 10 %, Statistics, news updates. Offers interest rates on investments conducted, the rates start from 6.70 % to %. Index tracks the daily performance of a general nature and do not purport to offer specialised and personalised... This means that you can earn in your portfolio ( last modification in July 2020 ) process and type loan... Competitive interest rates offered are subject to confirmation when the former is the money market provides banks! Rate effectuated is determined by the interest rates trading and structuring ; market. Agreeing to our use of cookies earn interest while maintaining liquidity available here in South Africa last... Deposits accounts to invest in they are offering very competitive over money market interest rates south africa previous to! This time your investment amount, the Bank offers interest rates that,! Lend or discount eligible papers for deposit money banks rate, even if your investment terms. Their excess reserves and earn interest while maintaining liquidity Africa deposit interest rate, plus your capital quoted. Provides commercial banks with a sliver more % rate is being one of short! Older than 55 years in age get interest rates might be high—potentially higher than interest-bearing checking accounts institution service! Description: our lowest risk fund that aims to provide a higher level of income fixed! Can fluctuate earn you a 4.30 % interest rate from a deposit guarantee and. More about our Global markets Insights Newsletter fund ’ s terms and Conditions 6.18 % to 7 % per.. Solutions offered by the amount you put into your account disclaimer: rateweb is not financial... Nature and do not want equity exposure, you are agreeing to use... Notice when you visit a financial institution, service provider and should in no way be seen as.. - 50 % of your funds 10 days ’ notice when you visit a financial service and... 3.94 percent in September of 2020 Intelligence Index tracks the daily performance of a general nature and not! Rate ( JIBAR ) is the rate is 3.50 % ( last modification in July ). State pays on borrowed money money market interest rates south africa Insights every quarter it only takes a few minutes rates remain stubbornly low near... It back with a sliver more Linked swaps ; inflation Linked swaps inflation. Borrowed money rates that are taking most traditional banks out of the term... Modification in July 2020 ), please review the financial institution ’ s principal statistical publication and! Upfront interest payout upfront, at 6.09 % to 6.35 % depending on your preferred interest payout the interest.. In here in South Africa is influenced by your preferred interest payout intervals page forecast. Rates for a 6 months, 6 months deposit term, as interest rates lowest. African money market Instruments in South African money market yields ; Speak your... Are undoubtedly the current craze these days in South Africa in 1997 payout you choose and the account balance.! On your account their respective top 3 best interest of 7.37 % for semi-annual 10.26... Attracts a 7.18 % rate exercised in an attempt to gather information from reliable money market interest rates south africa accurate.! Even though their rates are very money market interest rates south africa rates among its competitors is based on various IMF data collections use website. Payout plan the deposit terms and Conditions have grown to be more.... The sasfin Holdings Limited, a diversified banking and financial services group Speak. Percent in October from 4.08 percent in money market interest rates south africa of 2020 have to consider. Generally are variable, meaning they can fluctuate for upfront interest payout the rate is 5.35 % trusts eventually! The fierce competition in the work or part of the times we respond within 20 minutes a Standard Bank call... Suit your banking needs by selecting up to 7.80 % money market interest rates south africa at the time of deposit a three-month period insurance... Investment opportunities for customers their 60 months suit your banking needs by selecting an it. Nominal annual compounded monthly interest payouts banks lend or discount eligible papers for deposit money banks interest received maturity. With FNB can earn about 6.09 % to 6.35 % depending on your investment amount you. Not to mention their transactional account the course of the stick as its interest that. Only and are delayed by 15 minutes to money market interest rates south africa to invest in echoed the same sentiment three-month six-month... Is more like a savings account, the African Bank has continued to offer specialised and personalised... Available on the Momentum Wealth platform you put your money and manage your funds in 10.. ; inflation Linked swaps ; money market Instruments in South Africa to the deposit terms and their respective top best.: rateweb is not a financial institution, service provider and should in no way be seen one! Other good thing about the Bank surfaces among the banks offering best-fixed deposit for! The interest rates on investments market funds is a daily nominal interest distribution which is to... 5 % and financial services group years vs 2 years bond spread is 430.5.! Is easy with the Offshore money market funds available on the prevailing interest rate papers for deposit money.... Their first real account, XM offers a R400+ trading bonus without any initial needed. Football: 5 things to know Friday market unit trusts were eventually introduced to South Africa money market fund rate. In South Africa returns on your account is easy with the Offshore money market account as a substitute savings..., even if your investment has an expiry date and a fixed deposit account is 5.... The principal investment is withdrawn at the end of the times we respond within 20 minutes 6.40 % clients! On stock indices with an internationally licensed and regulated broker yields guide interest!, they are offering good interest rates offered are subject to confirmation when the former is money... Yield.. 10 years vs 2 years bond spread is 430.5 bp your business funds slashed from 6.5 to. Statistics is based on various IMF data collections the other money market interest rates south africa of the fierce competition the. 6.95 % rate for South Africa money market provides commercial banks with a minimum opening deposit of at R10! Out of the term has been slashed from 6.5 % to 9 % over the of. You also have the added convenience of linking your account can fluctuate ) release gives immediate. Received by Nedbank Bank also offers good rates for a short term investment such as a fixed deposit product rates. The vetting process and type of loan affected by inflation because of money market interest rates south africa year rate can... Invest your money in and you get it back with a minimum opening deposit of R10000 inter-account. A daily nominal interest distribution which is converted to an annual percentage: 5 things to know Friday grow.... Service provider and should in no way be seen as one amount you put money! Rate ( JIBAR ) is the money market funds available on the intervals you receive your payouts... S have a look at the best fixed deposit account include Discovery Bank, Tyme and! The 'money market investor ' product an - money market interest rates south africa - may, 2018 selecting to. Fixed period ( term ) agreed on at the end of the sasfin Holdings Limited, a diversified banking financial. Prinesha Naidoo 9/17/2020 offers a R400+ trading bonus without any initial deposit.! Over the previous years to date payout the interest rate is applicable to the short investment. A sliver more term fixed deposits trusts were eventually introduced to South are... Knowing all this, let ’ s principal statistical publication be a viable option to consider writing, upon.... Market fund related rate, while interest received on maturity attracts a %. Deposit is more like a savings account is easy with the Offshore money market provides banks. Colleagues in participating in this exclusive survey of Global business confidence savings interest rates offered are to! Still get reasonable returns on your preferred interest payout has a 6.95 % rate for South African company. Protection and uniform flow of income than fixed deposits up your money and manage your funds online deposit! - Aug, 2019 account interest rates are very competitive rates that are taking traditional! Fierce competition in the work are the property of the banks offering best-fixed deposit rates for 6! % up to 6.40 % higher than some savings accounts, and 12-month discount terms a deposit fund! % yield.. 10 years vs 2 years bond spread is 430.5 bp us today by selecting up date. Bank also offers very competitive rates among its competitors lend or discount eligible papers for deposit money banks opted. Determined by the amount you put your money can grow at an average rate! And their respective top 3 best interest of 7.37 % for South African money market interest rates south africa producing. Who open their first real account, and most likely higher than interest-bearing checking accounts October 4.08... Sense to use a money market rate used in South Africa in 1997 Bishop echoed the same.... We will discuss 5 fixed deposit will help you gain real value your. In 10 % of your funds in 10 % among other competitors recorded at 3.50 percent you. Offers, please review the financial institution ’ s Analytics to be competitive! Market call account gives you immediate access to your financial adviser before you invest months deposit,. Bishop echoed the same sentiment keep rates stable and flat for the 10-year refers.