We understand that these are challenging times for all of us, as your trusted financial partner, we want to ease your distress. Even though your saving and investments is all safe and secure with us, we would like to offer you the flexibility of applying for instant access on a Fixed Deposit or Notice Select account, which will assist you with financial relief.

Should you find yourself impacted due to the COVID-19 pandemic and need access to your Fixed or Notice Select funds, you can call us on 0860 111 515 or email savings@absa.co.za

For safety of our staff and to meet the social distancing requirements, we will be operating with skeleton staff during the lockdown period. Please expect a delayed response.

This offer is only available during the national lockdown*

FAQs - COVID-19 Access to Savings & investments

  • What Savings and Investments transactions can I do on Absa Online?

    You can:

    • Transfer into and out of your Savings and Investments accounts
    • Reinvest your Fixed Deposit
    • Place notice on your Notice Account(s)
    • View account balance, statements and where applicable, transaction history
    • Access your IT3B Certificates (i.e Tax Certificates on your Accounts).

    NB:

    Through the Absa App you are able to check balances and reinvest your Fixed Deposit
    You can also access Balances through our USSD *120*2272#

  • How can I deposit cash if branches are closed?

    • You can deposit cash through any of our cardless cash accepting devices across the country
    • You do not need to have a card to deposit
    • These devices are constantly sanitised and are therefore safe to use

  • What can I do if I find myself in financial difficulty and need urgent access to my money in a Notice or Fixed Deposit Account?

    • In light of the current COVID-19 pandemic, we would like to assist customers who are facing tough times and improve their cash flow by allowing early access to  their Fixed Deposit and/or Notice Account.
    • Simply call us on 0860 111 515 for further information on how you can access your funds. 

    Terms and conditions apply

  • Can I get only part of my funds from my Fixed Deposit or Notice Account without closing my account?

    Yes, you can access a portion of your funds in your Fixed Deposit or Notice Account without closing the account.

  • Will I pay a penalty if I access my funds early from my Fixed Term or Notice Account?

    Currently, we would allow you to access your funds early. Contact us to discuss your possible options.

  • Will my interest rate be impacted?

    • For Notice and Contractual products, the interest rate is tiered according to your balance and could therefore change depending on your balance after you access your funds. You can also replenish the account later on.
    • Interest rates on Fixed Deposit Accounts will remain fixed until maturity, as long as there are funds remaining in the account after withdrawing. You cannot replenish this account.
    • All interest rates are linked to the prime rate and fluctuate based on changes in the prime rate.

  • Do I pay a withdrawal fee?

    Cash withdrawal fees will apply, however, interbank transfers and EFTs are free. To view the fee structure per channel and transaction, click here 

  • Are my savings safe with Absa? Are there risks because of COVID-19

    • Your capital and interest are guaranteed. This does not apply to Islamic Target Save and Islamic Term Deposit Accounts.
    • Your investments will remain unchanged after COVID-19 – any changes would be as a result of an instruction from you, as the customer.
    • No, there are no risks. For many years, Absa has continued to be the most trusted bank with customers’ deposits and savings. According to the Reserve Bank, Absa has more customers’ savings than any other bank is South Africa. (source: February 2020 BA900 Published by the South African Reserve Bank)

  • How do I open a Savings & Investments account when the branch is closed?

    • If you are an existing customer, you can open a  new Savings & Investments account(s) by using Absa Online.
    • The Absa Call Centre is operational during this time. You can call us on 0860 111 515.
    • Alternatively, you can send an email to savings@absa.co.za and one of our agents will get in touch with you.
    • There are also a number of branches that are open. To view a list of branches near you, click here.   

Need more help? 

Call us on

0860 111 515

Email us at: 

savings@absa.co.za