The nominal interest rate is used to calculate the daily interest earned on your account balance, which accumulates until it is capitalised on an agreed date every month. The interest is then either reinvested or transferred to your savings account.
The effective annual interest rate is calculated by taking into account the fact that interest is earned on capitalised interest over a period 12 months.
| Term (Months) | R10 000 - R24 999 | R25 000 - R99 999 | R100 000+ | |||
|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| 6 | 3.60% | 3.66% | 4.00% | 4.07% | 4.20% | 4.28% |
| 7-9 | 3.75% | 3.82% | 4.25% | 4.33% | 4.40% | 4.49% |
| 10-12 | 4.15% | 4.23% | 4.80% | 4.91% | 4.90% | 5.01% |
| 13 - 18 | 4.50% | 4.59% | 4.95% | 5.06% | 5.00% | 5.12% |
| 19 - 24 | 4.80% | 4.91% | 5.85% | 6.01% | 6.05% | 6.22% |
| 25 - 36 | 5.25% | 5.38% | 6.15% | 6.33% | 6.15% | 6.33% |
| 37 - 48 | 6.00% | 6.17% | 6.55% | 6.75% | 6.75% | 6.96% |
| 49 - 60 | 6.75% | 6.96% | 7.95% | 8.25% | 8.15% | 8.46% |
