There’s no greater idea than saving money, and or investing your capital for a specified period of time. The world as we know it is full of surprises and may leave you stranded when you least expect it. Absa will always give you a number of options to help you save money and protect yourself from unforeseen circumstances when you need money.
You can open an Absa Fixed Deposit Account and invest your money from 8 days to 5 years, and the longer you invest, the more interest you’ll earn, and thus it’s always worth it. You have goals to achieve – 5 years ago compared to your present moment what has changed? I am sure a lot has happened, but financially have you made necessary adjustments and decisions? Well, for as long as there’s breath pumping through your lungs, it is never too late to start making the right decision and choose an investment plan that will best work for you.
See also 5 investment accounts by Absa Bank
Believe me, when I say, your goals are achievable no matter how bigger of a dreamer you are. Get higher fixed interest for your entire term of investment when you invest for a longer period. You may choose if you want your interest to be paid on the maturity date (End of your investment period), each month, quarterly, annually or half-yearly.
Absa Fixed Deposit Requirements
In order for you to successfully apply for an Absa Fixed Deposit Account, you will have to have the following with you:
- A minimum of R1 000 deposited into your Fixed Account to start investing.
- South African Identity Document or a Smart Card ID
- You are required to produce proof of residence that’s not older than 3 month
You will choose your own investment term – Absa allows you to invest from 8 days to 5 years on your Fixed Deposit account, and if you are above the age of 55 years, and have chosen to invest up to R1000 for a year (12 months) or longer, you qualify for bonus interest with Absa.
>8 days | 1 – 6 months | 7 – 11 months | 12 months | >13 months | 18 months | >19 months | |
| R1 000 – R100 000 | 3.25% | 5.70% – 6.90% | 7.05% – 7.50% | 7.10% | 7.10% | 7.20% | 7.20% – 7.90% |
| R100 001 – R999 999.99 | 3.25% | 5.75% – 6.95% | 7.10% – 7.55% | 7.60% | 7.60% | 7.70% | 7.70% – 8.40% |
Interest Rates are subject to change.
How to Apply
You may apply for the Fixed Deposit Account Online, or you may visit the nearest Absa branch. You may also call 0860 111 515, alternatively, you can email saving@absa.co.za
Interest rates are guaranteed, can be renewed automatically at maturity, you can decide for your interested to be paid into another account.
Absa is an Authorized Financial Services Provider and a registered credit provider (NCRCP7)
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