African Bank Notice Deposits
African Bank logo, image: www.africanbank.co.za

We have different types of investment accounts, and every product is designed to suit the needs of a specific user, this enables everyone to have a product for them.

As such, one of African Bank’s investment accounts is a Notice Deposits Account, where you can earn the market-leading interest rates, and have access to your money in 7 days’ notice, 32 days’ notice or 90 days’ notice.

The longer you invest the more interest you’ll earn. You can invest on a monthly basis, and the monthly interest payout will be more for a 90 days’ notice just as with an annual interest payout and an interest payout on the expiry date.

When it comes to tax implications of investing, African Bank will be held liable and/or advise you on that, but we will cover the subject – contact your financial adviser for advice or your tax consultant, or tweet me, however, read my disclaimer before you hold me responsible for anything.

It is important to note that, interest rates will change from time to time.

Notice Deposit Features and Benefits

  • You have the right to choose your notice period, it is 100% your choice, you can choose from a 7-days’ notice, 32 days’ notice or 90 days’ notice.
  • You can grow your money by making an extra deposit with a debit order into your Notice Deposit Account from as little as R100.
  • With African Bank, giving a withdrawal notice has never been this easy, all you have to is call the number 0860 49 49 40 and you are ready for a countdown to your withdrawal date.
  • You can apply for the African Bank Notice Deposit online
  • Interest rates change according to the rife in marketing conditions.
  • The account must have a minimum balance of R500 (To keep having the Notice Deposit Account)

HOW TO APPLY

  • The minimum deposit for the Deposit Account with African Bank is R500
  • You will need an ID or a Passport if you are a foreigner
  • Proof of residence not older than 3 months

Read more on the African Bank Notice Deposit you can also use a calculator on their website to compare interest rates.

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  • Founder and Business Writer of iBusiness.co.za, (born June 28), a South African Business Reviewer and Blogger. A native of Ventersdorp, Mogopa Village (SA), often referred to as Zack. Let's talk iBusiness.

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