- African Bank Fixed Deposit Rates
- Fixed Deposit Investing
- Which Bank Has The Best Fixed Deposit Rate In South Africa
- Some banks, like African Bank, quote three different interest rates for fixed deposits: a monthly interest payout, an annual one, and the equivalent interest rate for payout on maturity. The fixed deposit space has become very competitive, with a number of banks launching special offers for longer periods at present.
- Bank Duration Product Rate Earnings on 100.000 Minimum amount Other parameters Updated on; African Bank: 60 months: Fixed Deposit: 11,11%: 786,96/month 9.444/year.
- Fixed-Term Savings plan (single deposit option) Invest for 6 – 60 months, R20 million maximum investment with a minimum deposit of R10 000. You choose how long you want to invest (6 – 60 months) Deposit a single amount up to a maximum of R20 million to invest over the term you choose; Minimum deposit amount of R10 000.
- African Bank 1 Year Fixed Deposit. Fixed deposit terms range from 3 months to 60 months (5 years). Our services are reliable and convenient and reliable.
With a rich history in the South African financial services industry, African Bank has gained a reputation as a trusted institution. Since being re-launched in 2007, the bank has continued to grow. It has gained more clients and has provided some much-needed services in the form of credit facilities.
African Bank Fixed Deposit Rates
FOREX RATES: USDKES Buying 107.3000 Selling 113.8000 GBPKES Buying 149.2479 Selling 158.7479 EURKES Buying 129.3697 Selling 137.7197 INRKES Buying 1.3840 Selling 1.5840 ZARKES Buying 7.2470 Selling 8.5178 AEDKES Buying 29.3625 Selling 30.6727 YENKES Buying 1.0223 Selling 1.2845 SARKES Buying 28.2487 Selling 30.1535 Please call us on: +254 (20) 2710640/654/659 TO SERVE YOU.
With a value system aligned with enhancing the customer experience, African Bank believes that credit should work to improve lives and help individuals move forward. African Bank ensures that clients are given all necessary information to make informed decisions.
The Bank also offers a range of saving and investment tools. One such tool is the African Bank 5 Year Term Deposit.
More about the African Bank 5 Year Term Deposit
According to an article in Fin24:
“Many people like to keep a certain percentage of their savings in a bank account where it earns some interest; but they can get access to it, in case of emergencies.”
One of the reasons that people often choose high interest savings accounts is that they can earn interest, while also giving them the option of being able to withdraw the funds very easily. This is one of the advantages of having a term deposit.
African Bank offers Term Deposits ranging from 3 months up to a maximum of 60 months. Clients get a fixed interest rate for the duration of their investment.
Interest can be paid out monthly, every 6 months, 12 months, or upon maturity. Additional deposits are allowed for the first 7 days after the initial funding.
The amount of interest you will be earning will depend on the amount of cash you put into this fixed period plan, with the top end being 13+ % (that is a very decent interest rate!)
A R500 minimum deposit is required, along with proof of residence and a valid ID.
Fixed Deposit Investing
Enter your details online and an African Bank consultant will assist you.
Which Bank Has The Best Fixed Deposit Rate In South Africa
If the African Bank 5 Year Term Deposit seems like too much of a long term commitment, check out the African Bank 7 Day Notice Account.