TymeBank is an Authorized Financial Services and a Registered Credit Provider, owned by our very own Patrice Motsepe. The Digital Bank provides you with access to a savings tool called GoalSave. If you need total control, GoalSave gives complete control of your own money to do as you wish with it. TymeBank GoalSave is available in every TymeBank Account and you can open up to 10 different saving goals.
You can give them names, e.g. First Car, Business, Dance lessons, etc. and not only that but you also earn great interest the longer you save your money with TymeBank GoalSave.
You can add as much as R100 000 into each GoalSave, as many as 10 active GoalSave, saving up to R1 000 000 shared amongst your GoalSave accounts, and once you have money into these accounts, NO DEBIT ORDERS CAN COME OFF IT, you money is save and you can relax and do your daily chores in peace.
You can earn up to 10% interest per annum with GoalSave, and a 10 Days’ notice waiting period for withdrawal gets you a bonus.
Key Features:
- Save your money and reach your goals
- Open 10 Different GoalSave Accounts
- No unauthorized debit orders
- Earn more interest the longer you save
- Earn a Bonus and Interest with 10 Days’ Notice
Interest rates
| Days of Saving into GoalSave | Annual interest rate |
| 1 – 30 | 6% |
| 31 – 90 | 7% |
| 91+ | 9% |
| Bonus | |
| 10 days’ notice after 90 days | 10%* |
Adding Money to GoalSave
- You will need to have a TymeBank Everyday Account
- Create up 10 Different GoalSaves
- You can Name each goal whatever you want if you need to.
- You can use TymeBank SmartApp or Internet Banking to Add Money into your GoalSave accounts
- You can add as often as you want without any restriction, fees or penalties.
How to withdraw from a GoalSave Account
- When you have an active GoalSave Account, you can close the account at any time.
- Once the Account has been closed, all of the money that was into that account, including all the interest earned will be transferred into your TymeBank Everyday Account.
- There are charges for opening and closing accounts
- OR ALTERNATIVELY, you can wait 10 days for the payout, TymeBank will give you a bonus on top of the interest earned,
- After 10 Days you get your full amount, together with your bonus and interest earned paid into your everyday account and available to use.
South African COVID-19 Information Portal
iBusiness on COVID-19
