Nedbank Money Market Investment Account Review for October 2024
Introduction
The Nedbank Money Market Investment Account is a savings account offered by Nedbank. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Nedbank Money Market Investment Account and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Nedbank Money Market Investment Account compare to other banks.
Earn interest on your account while enjoying all the benefits of everyday banking – a fully flexible investment solution.
Nedbank Money Market Investment Account highlights
last updated 2nd October 2024 by Walter
- The Nedbank Just Invest offers interest rates 6.75% - 8.00% and accepts investments from R500
- The Nedbank MoneyTrader offers interest rates 7.95% and accepts investments from R50,000
Nedbank Money Market Investment Account
This table shows Nedbank Money Market Investment Account's interest rates for a R1, R50,000, R100,000, R250,000 and R500,000 investment in Nedbank Money Market Investment Account versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 | 0.00% #33 out of 36 | 4.70% | - R 0 |
| R50,000 | 7.95% #4 out of 45 | 6.42% | + R 819 |
| R100,000 | 7.95% #13 out of 54 | 6.59% | + R 1,449 |
| R250,000 | 7.95% #13 out of 57 | 6.76% | + R 3,187 |
| R500,000 | 7.95% #13 out of 57 | 6.76% | + R 6,361 |
- 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 Nedbank Money Market Investment Account.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 for 18+ | 0.00% | 4.70% | - 0 |
| R50,000 for 18+ | 7.95% | 6.42% | + 819 |
| R100,000 for 18+ | 7.95% | 6.59% | + 1,449 |
| R250,000 for 18+ | 7.95% | 6.76% | + 3,187 |
| R500,000 for 18+ | 7.95% | 6.76% | + 6,361 |
- 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 Nedbank Money Market Investment Account.
You get a 7.95% interest rate at Nedbank Money Market Investment Account for a R500,000 investment. The industry average for a savings account with a balance of R500,000 is 6.76%. Over one year you will earn R6,361 more in interest at Nedbank Money Market Investment Account compared to the average savings account.
Here are other similar savings accounts in South Africa which require a minimum deposit between R20,000 - R20,000
| Account | Min Deposit | Rate |
|---|---|---|
| Standard Bank MoneyMarket Call Account | R20,000 | 6.75% - 6.85% |
| Sasfin Call Account | R20,000 | 7.75% |
| Nedbank Money Market Investment Account | R20,000 | 0.00% - 7.95% |