Standard Bank offers many savings and investment accounts. This is an overview of how the Standard Bank PureSave account works and what exactly it is.
Overview
The Standard Bank PureSave account is both a savings and transactional account. It’s targeted at people who just want to save money or people who don’t want to pay any monthly fees. The PureSave account doesn’t have any monthly fees.
You can use the account just like you would a regular account, you can buy airtime, data and electricity. This account also allows you to send and receive money, there is no notice period for accessing your savings.
Most savings accounts will charge you a penalty if you choose to withdraw your money without giving a notice period. With the PureSave account; you can get your money whenever you want. There is also no minimum opening balance, which means you can even start saving R50.
You can also deposit money into an ATM for free three times a month. This is a very good account for people who are not looking to pay any monthly charges, especially if you already have an account with another bank.
The best part is that you get to earn interest while saving your money. Here is the interest rate that you will earn with PureSave. It’s not as much as you would earn with TymeBank or African Bank but it’s still good to earn interest on your money.
Conclusion
This was an overview of how the Standard Bank PureSave account works and what it is. Do you have any thoughts or questions? Comment below.
