Term Deposit Accounts
Term Deposit is a basic time deposit scheme in which customers can deposit funds for specified maturity periods and earn higher rate of interest.
- Minimum Amount : ZAR 10,000. Maximum: no limit
- Term varies from 1 month to 60 months
- Choose your maturity date and invest
- Earn fixed interest rate for entire term of the deposit
- For senior citizens i.e. of age 55 years or older extra 0.25% p.a. interest for deposits of 24 months and above
- No monthly transactional fees
- Interest is paid monthly/ quarterly/ half-yearly or on maturity
- Early withdrawal of funds is not allowed except under extreme circumstances as a matter of discretion but with penalty.
- Account can be opened online using internet banking facility
- Funds on maturity will be handled as per customer’s instructions.
- Automatic renewal facility on due date – Term Deposit is renewed for the same period as per original contract, however the rate of interest will be the rate prevailing on the date of such renewal.
- For emergency needs, the depositor can avail easy loans (Loan up to 90% is given with small interest spread)
Interest on Term Deposit Account is paid at monthly/ quarterly/ half-yearly intervals or on maturity at simple rate of interest. Please click on Interest rates for detail of interest rates in Term Deposit Account.