How does FNB Savings account work?

FNB offers a lot of savings and investment accounts. Among these is the FNB savings account, this is the traditional savings account offered by most banks. This is an overview of how the FNB savings account works.

What is a savings account?

A savings account is a type of bank account that allows you to deposit money and earn interest from it. A savings account is a great vehicle for saving money towards things that you want to buy all while earning some interest.

A savings account is different from a cheque account because you can’t make your transactions from a savings account. You can’t use your savings account to make online purchases or even make payments in general.

Most savings account require you to give a notice period when you are withdrawing your money. You generally don’t have to pay tax on the interest you earn if it’s less than R23 800. Savings account are a great way to save for something while earning interest.

How does the FNB Savings account work?

With the FNB savings account, you can get an interest rate of up to 3.05% and instant access to your savings without giving a notice period. This account comes with no monthly fees and is exclusive to individual cheque, Easy and FNBy transactional clients.

This account has no minimum deposits, you can save from as little as R1 and there are no limits to how much you can save as well. You can also set up additional deposits to your account and choose to reinvest your interest or redirect it to another account.


This was an overview of how the FNB Savings account works. Do you have any thoughts or questions? Comment below.

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