Interest rates that grow as your money grows

Creating your own personal wealth gives you the freedom to enjoy the things in life that can take away from your day-to-day cash flow. With a TargetSave account, you can save for an education, a marriage, holidays and travel – from a monthly amount of only R100.

Apply now

An affordable savings option
An affordable savings option

It only takes R100 to open your account, and a minimum of R100 deposited each month.

Interest rates increases as your balance grows
Interest rates increases as your balance grows

And the longer you save your money, the more interest you will earn.

Save for 6 months or 12 months
Save for 6 months or 12 months

Saving for a longer term ensures that you get the most interest.

You get bonus interest
You get bonus interest

If you save for longer than the savings period.

How to get it and what to expect

Applying for TargetSave
Applying for TargetSave

If you are an existing Absa customer, you can apply for a TargetSave account online via internet banking. If you are not an Absa customer, registering to become one is quick and easy.

When applying, you will need the following:

  • Your South African ID
  • Proof of residence (not older than 3 months)
  • R100 deposit to open the account

Your initial R100 savings will open your account, but you need to remember that you need to deposit a minimum of R100 in your account each month.

Apply now

Features of TargetSave
Features of TargetSave
  • You will need an initial deposit of R100 to open your account, and then a minimum monthly deposit of R100.
  • Tiered interest rates grow as your money grows.
  • Interest is calculated daily and is capitalised monthly to your account.
  • You earn bonus interest if you save for longer than the minimum 6-month period.
  • Your savings are available on 32 days’ notice, and for 10 days at maturity of the account (after the 6-month period).
  • Balances below R100 do not earn interest.

See our interest rates

for TargetSave
  R100 - R5 999 R6 000 - R14 999 R15 000 - R19 999 R20 000 +
TargetSave 4.65% 4.65% - 4.85% 4.85% 5.00% - 5.10%
Effective 19 March 2016

All interest rates are expressed as a percentage per annum calculated daily.

contact us

Need more help?

Let one of our consultants help you get the best account for your needs.

Call us on:

0860 111 515

Email us at:

saving@absa.co.za

Visit your nearest branch