Saving & Investing
A single deposit, invested for a fixed period, with a fixed minimum interest rate with the added benefit of potential bonus interest.
|Low||R 1,000||12 to 18 months|
Do you have a sum of money you would like to invest for a specific period? Would you like to enjoy the certainty of a fixed minimum interest rate with the potential of earning bonus interest?
Absa’s Bonus Deposit account offers the potential of earning up to an additional 2% bonus interest should the interest rate increase during the deposit period. Funds can be deposited for a period between 12 to 18 months depending on your preference.
What are the advantages?
- You are not restricted as your maximum investment amount is not limited.
- A guaranteed minimum interest rate equivalent to the starting rate, i.e. your rate will never fall below the original rate as at date of investment.
- You can earn up to 2% more interest on your investment should interest rates rise, i.e. the rate on your deposit will increase by a maximum of 2 % when other rates increase.
- If you are 55 years or older, you qualify for an additional 0.5% interest on deposits of up to R100 000 for 12 months or longer.
- You may pledge your investment to secure an overdraft of up to 80% of the value of your investment
How to qualify:
- A minimum initial deposit of R1 000 to open the account