Capitec Savings Review for October 2024
Introduction
The Capitec Savings is a savings account offered by Capitec. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Capitec Savings and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Capitec Savings compare to other banks.
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Capitec Savings highlights
last updated 2nd October 2024 by Walter
Capitec Savings
This table shows Capitec Savings's interest rates for a R1, R25,000, R100,000 and R250,000 investment in Capitec Savings versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 | 2.75% #24 out of 34 | 4.70% | - R 0 |
| R1 | 2.75% #24 out of 34 | 4.70% | - R 0 |
| R1 | 2.75% #24 out of 34 | 4.70% | - R 0 |
| R25,000 | 3.95% #30 out of 40 | 5.49% | - R 401 |
| R25,000 | 3.95% #30 out of 40 | 5.49% | - R 401 |
| R25,000 | 3.95% #30 out of 40 | 5.49% | - R 401 |
| R100,000 | 5.35% #46 out of 52 | 6.59% | - R 1,314 |
| R100,000 | 5.35% #46 out of 52 | 6.59% | - R 1,314 |
| R100,000 | 5.35% #46 out of 52 | 6.59% | - R 1,314 |
| R250,000 | 6.90% #37 out of 55 | 6.76% | + R 378 |
| R250,000 | 6.90% #37 out of 55 | 6.76% | + R 378 |
| R250,000 | 6.90% #37 out of 55 | 6.76% | + R 378 |
- 1 industry average refers to the average interest rate across all other savings accounts for the given investment amount
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Capitec Savings.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 for 18+ | 2.75% | 4.70% | - 0 |
| R1 for 18+ | 2.75% | 4.70% | - 0 |
| R1 for 18+ | 2.75% | 4.70% | - 0 |
| R25,000 for 18+ | 3.95% | 5.49% | - -401 |
| R25,000 for 18+ | 3.95% | 5.49% | - -401 |
| R25,000 for 18+ | 3.95% | 5.49% | - -401 |
| R100,000 for 18+ | 5.35% | 6.59% | - -1,314 |
| R100,000 for 18+ | 5.35% | 6.59% | - -1,314 |
| R100,000 for 18+ | 5.35% | 6.59% | - -1,314 |
| R250,000 for 18+ | 6.90% | 6.76% | + 378 |
| R250,000 for 18+ | 6.90% | 6.76% | + 378 |
| R250,000 for 18+ | 6.90% | 6.76% | + 378 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Capitec Savings.
You get a 6.9% interest rate at Capitec Savings for a R250,000 investment. The industry average for a savings account with a balance of R250,000 is 6.76%. Over one year you will earn R378 more in interest at Capitec Savings compared to the average savings account.
Here are other similar savings accounts in South Africa which require a minimum deposit between R0 - R10,000
| Account | Min Deposit | Rate |
|---|---|---|
| AfricanBank Power Pocket | R1 | 1.00% |
| AfricanBank MyWorld | R1 | 1.00% |
| AfricanBank Savings Pocket | R1 | 6.50% |
| Capitec Savings | R0 | 2.75% - 6.90% |
| FNB Linked Savings | R1 | 6.80% - 7.50% |
| Standard Bank PureSave | R0 | 5.25% - 5.55% |
| Discovery Demand Savings Account | R10,000 | 7.25% |
| Bidvest Bank Call Account | R1,000 | 3.95% - 5.95% |
| Nedbank Just Invest | R500 | 6.75% - 8.00% |
| TymeBank GoalSave | R1 | 7.00% |
| BankZero Savings | R1 | 6.70% - 7.55% |