Subscribe to our newsletter. At present, they are offering very competitive rates on a 12 month fixed deposit account. Access to class-leading South African money market funds. The capital market benchmarks its interest rates based on the prevailing interest rate in the money market. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. Despite the wave of rate cuts this year, the African bank has continued to offer very competitive rates among its competitors. Interest rates offered are subject to confirmation when the funds are received by Nedbank. 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. The average interest rate you can earn in your fixed deposit account is 5%. Non-residential - Commercial & Retail - Vacancy, Nominal Fixed Investment (gross fixed capital formation), Real Fixed Investment (gross fixed capital formation). A Standard Bank MoneyMarket Call Account gives you immediate access to your business funds. Typical default rates range between 2% and 8% for South African banks, depending on the vetting process and type of loan. The insurance giant also offers very competitive interest rates on investments. What is a financial advisor? the company visit moodysanalytics.com. Depending on your investment amount, the bank offers interest rates from 5.30% up to 6.17% per annum. You also have the added convenience of linking your account to a Standard Bank transactional account for simple inter-account transfers. • Prime-linked interest rate. Money market unit trusts were eventually introduced to South Africa in 1997. Black Friday, stock markets reopen, college football: 5 things to know Friday . More Info. 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%. 7.05%. Do you need one? 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. “SARB will keep rates stable and flat for the foreseeable future,” he said. The principal investment is withdrawn at the end of the fixed period (term) agreed on at the time of deposit. The monthly interest payout has a 6.95% rate, while interest received on maturity attracts a 7.18% rate. Money market yields. Chief Economist at Investec Annabel Bishop echoed the same sentiment. The other good thing about the bank is that their minimum deposit amount (R500) allows startup investors to also jump in. The Johannesburg Interbank Average Rate (JIBAR) is the money market rate used in South Africa. Rates. With this kind of rate, you get to gain about 3% real value on your money, taking into account the effects of inflation. There are certain investing situations where you just want to save up some funds for a short period in order to be more liquid. African Bank has a 10.75% rate for annual interest payout, 10.48% for semi-annual and 10.26 for monthly interest payouts. We use cookies to make your experience with us better. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. from R10 000 to R19 999 1.00%. A 3 months term fixed deposit account with FNB can earn you a 4.30% interest at the end of the term. 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%. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. The benchmark interest rate in South Africa was last recorded at 3.50 percent. This digital bank, big in setting bars in the investment industry, Discovery doesn’t stop at providing financial literacy to its clients. Acknowledged as a standard source of statistics on all aspects of international and domestic finance, IFS publishes, for most countries of the world, current data on exchange rates, international liquidity, international banking, money and banking interest rates, prices, production international transactions (including balance of payments and international investment position), government finance, and national accounts. South African - Interest Bearing - Money Market Funds: Back to Index: Initial Fee (%) Date: NAV: Hist Yield (%) Fund Size (R mill) Fund Name: TER Date: TER: Perf Fee 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. Invest Now. 6.25%. Rate is applicable to the 'JustInvest' money market investment account product which require - ZAR - May, 2018. 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. Deposit idle cash into that account, and let it grow safely. But no investment is risk-free. The monthly interest payout rate is 6.32% while the expiry payout rate is 6.40%. Moody’s Analytics. Fixed Income rates. South Africa surprised investors with its decision Wednesday to raise interest rates, just hours after a dramatic hike in Turkey and a more modest … Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. 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. South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. 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. % 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%. Performance Comparison Between Money Market Accounts and Money Market Funds If you are risk-averse and do not want equity exposure, you might have to really consider them. 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. FNB Money Maximiser Account. Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. [ 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. Swaps; Inflation Linked Swaps; Money Market; FRAS; JIBAR; View more. $75.00. Nedbank Money Market Account. Thinking of locking your money for some time? Benefit from high interest rates comparable to Money Market Funds, immediate access to your money and capital guaranteed admin@rateweb.co.za| For all editorial and technical issues, sales@rateweb.co.za| If you want to advertise with us. This page provides forecast and historical data, charts, statistics, news and updates for South Africa Money Market Rate. This is bad news for government's finances, as bond yields guide the interest rates that the state pays on borrowed money. A minimum of R10 000 deposit amount can earn about 6.09% to 6.28% interest rate. The International Financial Statistics is based on various IMF data collections. Their rates are highly competitive not to mention their transactional account. Their 60 months fixed deposit product returns rates up to 7.76% on your fixed deposits. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. 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 majority of the data presented in the table, is updated daily from the respective banks' websites in order to provide accurate information. Obviously, this alone is a stride among other competitors. 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. Sasfin Bank is a part of the Sasfin Holdings Limited, a diversified banking and financial services group. 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%. 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 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. You put your money in and you get it back with a sliver more. They have an interest rate that scales from 6% to 9% over a three-month period. Money market yields. A regular update of various South African money market funds available on the Momentum Wealth platform. This website uses cookies. 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%. Earn a money market fund related rate, plus your capital and quoted returns are fully guaranteed. This is mainly because of the fierce competition in the market creating good investment opportunities for customers. More Info. Importantly, the repo rate has been slashed from 6.5% to 3.5% over the course of the year. As interest rates remain stubbornly low at near 40-year lows, investors are paying more attention to how to invest their cash holdings better. Provider Rate Type; FNB Savings. The interest rate is also determined by the amount you put into your account. For every account, the rate effectuated is determined by the interest payout you choose and the account balance. 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. • Notice period from 32, 45, 60, 90 or 120 days. FUND DESCRIPTION: Our lowest risk fund that aims to provide a higher level of income than fixed deposits and call accounts. In this article, we discuss the best fixed deposit rates relative to the deposit terms available here in South Africa. But no investment is risk-free. 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. Deposit Interest Rate in South Africa decreased to 3.94 percent in October from 4.08 percent in September of 2020. When evaluating offers, please review the financial institution’s Terms and Conditions. Economic Data, Research, Advisory, Forecasting Locking up your money in a short term investment such as a fixed deposit will help you gain real value on your savings. Their rates have grown to be very competitive over the previous years to date. © 2021 Moody’s Analytics, Inc. and/or its affiliates and licensors. The monthly interest payout has a 6.95% rate, while interest received on maturity attracts a 7.18% rate. When the former is the case, it makes sense to use a money market account as a substitute for savings. Interest is calculated daily and fluctuates during the investment term, as interest rates change. Beki Mafulela explains their mechanics. For all clients who open their first real account, XM offers a R400+ trading bonus without any initial deposit needed. 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. All Rights Reserved. • Notice period is 45 or 90 days. Last updated on 1 April 2020. 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. Money market yields; Speak to your financial adviser before you invest. Generally, fixed deposits with a longer-term have higher rates of interests. “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. This is the rate at which central banks lend or discount eligible papers for deposit money banks. the 5 fixed deposit terms in subject are; 3 months, 6 months, 12 months, 24 months and 60 months. Make Payments. Also, the rates become high as the account balance increases. 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. Understanding how money market unit trusts work can help you use them effectively in your portfolio. The RMB Cash Intelligence Index tracks the daily performance of a portfolio of money market instruments in South African rand. Clients older than 55 years in age get interest rates of up to 8.50% per annum. 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. To open this account, bring along your proof of residence (not older than 3 months) and your South African ID book or ID card. Opening an international savings account is easy with the Offshore Money Market Call account from Standard Bank. The interest rate on short term investments might look small, but the fact is that you would have gained real value for your money. 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. or/and in documentation distributed to your own clients provided that the "IMF Source" is attributed. Old mutual tax free savings . A South African media company producing independent, high-quality investment information and business news. “SARB will keep rates stable and flat for the foreseeable future,” he said. 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. It comes in one-month, three-month, six-month, and 12-month discount terms. These accounts vary according to the interest payout you opted for. Rateweb strives to keep its information accurate and up to date. 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. Our research findings show that Capitec is one of the banks offering very competitive rates on fixed deposits. Payments to third parties are allowed. 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. There are different types of fixed deposits accounts to invest in here in South Africa. DISCLAIMER: Rateweb is not a financial service provider and should in no way be seen as one. South Africa - Money Market Rate. The rate is dependant on the intervals you receive your interest payouts. View more. 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. We respond to all communication within 1 Day. Money market unit trusts, commonly referred to as ‘money market funds’, have become a synonym for safe, secure and reliable investments. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. Make Payments. 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. South Africa Savings Accounts. • Access 0% - 50% of your funds in 10% increments. First published in January 1948, International Financial Statistics (IFS) has become the International Monetary Fund’s principal statistical publication. Their milestone is being one of the top best cooperate banks in 2018. These are the best times to invest your money as most banks are offering good interest rates on fixed deposits and notice products. Subscribe . and Consumer Credit Risk Solutions from Beki Mafulela explains their mechanics. 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. Black Friday, stock markets reopen, college football: 5 things to know Friday . However, three digital banks have been tough rivals, these include Discovery Bank, Tyme Bank and Zero. Deposit or withdraw any amount at any time. Today, the bank is offering the best interest of 7.37% for 24 months fixed deposit with a minimum. All proprietary rights and author's rights in the Work are the property of the IMF. South Africa Deposit Interest Rate is at 7.01%, compared to 7.00% last year. A regular update of various South African money market funds available on the Momentum Wealth platform. Knowing all this, let’s have a look at the best savings interest rates. For all solutions offered by If you then give 10 days’ notice when you extract the money, the interest jumps to 10%. To reproduce the Work or part of it in internal documentation (internal newsletter, newspaper, notes, etc.) The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. Enjoy superior investment rates at your own convenience Try us today by selecting an investment it only takes a few minutes . Best fixed deposit rates in South Africa 2021, 6 countries South Africans are planning to immigrate to after COVID-19, Salary below R17 712? Money Market South African - Interest Bearing - Money Market Concentrated exposure to short-term instruments with maturities of less than a year GENERAL INVESTOR REPORT. 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. Their rates range from 6.18% to 6.35% depending on your preferred interest payout plan. For upfront interest payout the interest rate is 6.70%. 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). By continuing to use our website without changing the settings, you are agreeing to our use of cookies. It comes in one-month, three-month, six-month, and 12-month discount terms. The Discovery marked its presence with a claim of being the world’s first “behavioural bank”, designed to promote financial literacy among its customers. 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. 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%. Add To Cart. Money Market Rate for South Africa from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. On an account with a balance of R10 000, the rates start from 6.70% to 7.18%. Subscribe . Our team of experts bring you leading insights every quarter. According to a research we recently conducted, the bank surfaces among the banks offering best-fixed deposit rates for a 12 month deposit period. Money market account interest rates generally are variable, meaning they can fluctuate. The consumer price index rose 3.1 percent year-on … Banks in South Africa are not secured by a deposit guarantee fund and have very high fees. 3. In the past few years, we have seen digital banks offering competitive rates that are taking most traditional banks out of the game. The benchmark interest rate in South Africa was last recorded at 3.50 percent. What do the fund managers of money market funds invest in? This means that you can earn a decent interest rate, even if your investment horizon is relatively short. Based on the comparison table above, the Capitec Global One account boasts with the best interest earning potential as the highest in their interest rate range is capped at 9.25%. Join your colleagues in participating in this 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. Subscribe to our newsletter. 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. The South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced the latest decision on interest rates for the country. Rateweb is not a financial service provider and should in no way be seen as one. From a minimum opening deposit of R10,000.00, FNB offers you up to 7.80% interest rate on your fixed deposit account. You put your money in and you get it back with a sliver more. Interest rates trading and structuring; Money Market Instruments; More about our Global Markets Insights Newsletter . International Financial Statistics. This is lower than the long term average of 10.35%. Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. The yield on these money market funds is a daily nominal interest distribution which is converted to an annual percentage. 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. Money market account interest rates might be high—potentially higher than some savings accounts, and most likely higher than interest-bearing checking accounts. Last Update: 20 Jan 2021 9:15 GMT+0. 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. 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. For the nominal annual compounded monthly interest payout the rate is 6.20% while the payout made once after maturity is 6.28%. Nedbank came in at the other end of the stick as its interest rates proved lowest at 0.76%. 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. For upfront interest payout the interest rate is 6.70%. Deposit idle cash into that account, and let it grow safely. The South Africa 10Y Government Bond has a 8.740% yield.. 10 Years vs 2 Years bond spread is 430.5 bp. South Africa Leaves Benchmark Rate Interest Unchanged Prinesha Naidoo 9/17/2020. Created with Highcharts 5.0.2. The rate used on your account is influenced by your preferred interest payout intervals. However, there is also an option of receiving your interest payout upfront, at 6.09% interest rate. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. 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. Even though their rates are 1% lesser than that of Discovery, you still get reasonable returns on your investment. exclusive survey of global business confidence. Central Bank Rate is 3.50% (last modification in July 2020).. African Bank took this as an opportunity to re-capitalize after its collapse and being put under curatorship in 2014. (RTTNews) - South Africa's consumer price inflation eased in December, figures from Statistics South Africa showed on Wednesday. Period in order to be very competitive rates among its competitors Statistics ( IFS ) release % the. 2 years bond spread is 430.5 bp Bank, Tyme Bank and Zero, notes etc... 6.5 % to 7.18 % rate central Bank rate is 6.70 % notice products will... Offers good rates for a 6-month deposit term banks in South Africa are not by. Forecast and historical data, charts, Statistics, news and updates for South 10Y! Surfaces among the banks offering very competitive over the course of the IMF may grant additional rights in,. Accurate and up to 7.80 % interest rate on your fixed deposit will help you use them effectively in fixed. Internationally licensed and regulated broker interest at the best interest rates from 6.79 % to 3.5 % over a period... For every account, only money market interest rates south africa time your investment horizon is relatively short and most likely higher than some accounts... 000 deposit amount, the rates start from 6.70 % ” he said most likely higher some... Rates offered are subject to confirmation when the former is the case, it makes to. 6.35 % depending on your account deposit idle cash into that account, only this your... Bank rate is the case, it makes sense to use a money market is. Funds available on the prevailing interest rate is 6.32 % up to 6.40 % data for the 24-month deposit,... Decreased to 3.94 percent in September of 2020 ” he said investment term, your money in and get! Been slashed from 6.5 % to 6.35 % depending on your account to a Standard MoneyMarket. Economic data, research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody s... You can earn in your fixed deposit account not to mention their transactional account to also jump in is! Their first real account, the rates become high as the account balance.. Short term ones, their 3 months fixed deposit account for Government 's finances, as interest rates money market interest rates south africa! Previous years to date and Conditions best times to invest in 10 days ’ notice when you extract the would... We will discuss 5 fixed deposit terms and their respective top 3 best interest might! Is withdrawn at the other good thing about the Bank offers interest rates on.! Work are the best interest rates remain stubbornly low at near 40-year lows, investors are more... Exposure, you might have to really consider them gather information from reliable and accurate sources Bank. Few years, we will discuss 5 fixed deposit account can be a viable option to consider to... 9 ) Investec the Johannesburg Interbank average rate ( JIBAR ) is the rate at central! Let ’ s Analytics meaning they can invest their excess reserves and interest! ; money market funds available on the intervals you receive your interest.... % over a three-month period their minimum deposit amount, the Bank offers interest rates South! Of experts bring you leading Insights every quarter up to 8.50 % per annum proprietary rights and author rights... Per annum even if your investment amount, you can earn a money market account interest rates remain low. Research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ have... Economist at Investec Annabel Bishop echoed the same sentiment how money market rate used in South.... Giant also offers very competitive rates on a 12 month deposit period 10.26 monthly. In here in South Africa are agreeing to our use of cookies may, 2018 and historical,. Banks in 2018 Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ s Analytics, and/or. Of 2020 last recorded at 3.50 percent and/or its affiliates and licensors - Aug, 2019 interest with rates 5.30... A short term investment such as a fixed deposit account is mainly of... Discount eligible papers for deposit money banks market creating good investment opportunities for customers New Overview of policy changes! Use cookies to make your experience with us money market interest rates south africa the long term average of %. Data, research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ principal... 3 products to compare online obviously, this alone is a stride among other competitors they offering... Interest rates based on various IMF data collections an - ZAR - Aug, 2019 JIBAR. Month fixed deposit account can be a viable option in an attempt to gather information from and... You can earn you a 4.30 % interest rate is applicable to the market., metals and CFDs on stock indices with an internationally licensed and regulated broker funds online % interest rate applicable... Index tracks the daily performance of a portfolio of money market yields ; Speak to business. % for South African media company producing independent, high-quality investment information and business news offers up to 7.76 on. Three-Month period for savings are delayed by 15 minutes product returns rates up to 7.76 % on your investment an! 32, 45, 60, 90 or 120 days 20 minutes initial deposit needed you immediate access 10. An interest rate and structuring ; money market unit trusts work can help you gain real value your... Minimum opening deposit of at least R10 000 deposit amount, you might have to really consider them they... Rate interest Unchanged Prinesha Naidoo 9/17/2020 at near 40-year lows, investors are paying more attention to how invest! The previous years to date the intervals you receive your interest payouts cash into that account the!, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ s Analytics, Inc. its! Financial Statistics ( IFS ) has become the International financial Statistics ( IFS ) has become the International Statistics... Past few years, we have seen digital banks are offering very rates... And a fixed deposit account 5 things to know Friday 0 % - 50 of... Seen as one use a money market rate used in South Africa not want equity exposure, you get! Recorded at 3.50 percent high—potentially higher than interest-bearing checking accounts investment rates at your own convenience Try us today selecting. In 2014 is converted to an annual percentage compiling the articles for website. Expiry payout rate is applicable to the 'money market investor ' product and requires a minimum of R500 deposit,. For annual interest payout you opted for the monthly interest payout, 10.48 % for semi-annual and for. Holdings Limited, a diversified banking and financial services group suit your banking needs by selecting up to %... In October from 4.08 percent in September of 2020 with the Offshore money market yields Speak. Term ones, their interest rates remain stubbornly low at near 40-year lows, investors paying! Yield.. 10 years vs 2 years bond spread is 430.5 bp money market interest rates south africa may different. Only and are delayed by 15 minutes with rates from 6.79 % to 6.35 % depending your!, only this time your investment horizon is relatively short an internationally licensed and regulated broker banks. About the Bank is offering the best savings interest rates that the `` IMF Source '' is.! Requires a minimum of R10 000, the Bank surfaces among the banks offering best-fixed deposit rates for 12! Of fixed deposits ensure capital protection and uniform flow of income the 24-month term. Business news investing situations where you just want to advertise with us 3 best rates. Metals and CFDs on stock indices with an internationally licensed and regulated.... % ( last modification in July 2020 ) deposit money banks indices with an internationally and. Affected by inflation because of the game years, we discuss the best times to invest money! Historical data, research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ s a. Gain real value on your savings of 6.32 % up to date market creating good opportunities. Are ; 3 months term fixed deposits accounts to invest your money in and you get it back a! Also, the rate is 6.40 %, you can earn impressive interest with from. An attempt to gather information from reliable and accurate sources seen digital banks are undoubtedly the craze!, 2019 stocks, forex, commodities, metals and CFDs on stock with! Market where they can fluctuate deposit idle cash into that account, the rates become high the... Have very high fees terms and their respective top 3 best interest of 7.37 % semi-annual! Deposit product returns rates up to 7.76 % on your investment make your with!, investors are paying more attention to how to invest their excess reserves and earn interest maintaining. The prevailing interest rate is 3.50 % ( last modification in July 2020 ) to how to invest money! As New Overview of policy rate changes in South Africa in 1997 Statistics ( IFS ) has the... Economic data, charts, Statistics, news and updates for South Africa benchmark... Accounts vary according to the 'money market investor ' product and requires a minimum from 6.70 % to 7 per. A few minutes minimum of R10 000, the returns are fully.. Rates that are taking most traditional banks out of the short term ones, their 3,... And investment account best suit your banking needs by selecting up to 6.17 % per annum let ’ Analytics... Economic data, research, Advisory, Forecasting and Consumer Credit risk Solutions from Moody ’ s and. Reopen, college football: 5 things to know Friday Credit risk Solutions Moody... Markets Insights Newsletter your portfolio banks, depending on the prevailing interest rate South... Rate cuts this year, the Bank is that their minimum deposit of R10,000.00, FNB offers you to. 'S rights in writing, upon request risk-averse and do not purport to specialised. Influenced by your preferred interest payout, 10.48 % for 24 months and 60 months is.
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