Bidvest Interest Rate Review for December 2024

Last updated 2nd December 2024 by Walter

Introduction

This page gives you an overview of Bidvest interest rates for December 2024. Bidvest offers:

  • Savings accounts. Saving accounts give you quick and easy access to your money.
  • Notice accounts. You will need to give Bidvest notice before you get access to your money. Interest rates typically higher than your savings account.
  • Fixed deposits. The interest rate for a fixed deposit investment does not fluctuate and is instead fixed throughout your investment period.

The main difference between these three options is ease of access to your money. Savings accounts will provide you with near instant access, but in return you get a lower rate of interest . Notice accounts will provide better interest rates, but you will need to give Bidvest notice before getting access to your money. Fixed deposits generally pay the best interest, but you commit your money for a fixed term. In case you do need to withdraw, you can still get access before your term is over but will have to pay a penalty.

Bidvest interest rate overview for savings, notice accounts and fixed deposits

Here is a table of interest rates available at Bidvest. It shows the type of account, deposit and interest rate you can get.

Name Deposit Nominal rate
Savings
R1 - 75k
3.7 - 5.7%
Notice accounts
Bidvest 32 day notice
R5k - 1m
8.1%- 8.15%
Bidvest 40 day notice
R5k
8.2%
Bidvest 60 day notice
R5k
8.25%
Bidvest 90 day notice
R5k
8.35%
Bidvest 120 day notice
R5k
8.45%
Fixed deposits
3 month
R10k
8.24%
6 month
R10k
8.45%
12 month
R10k
8.6%- 8.65%
Savings

Bidvest offers one types of savings accounts.

Remember the primary benefit of a savings account is easy and quick access to your money.
Notice accounts

Bidvest offers five types of notice accounts.

  • Bidvest Bidvest 32 day notice pays interest from 8.1% and up to 8.15% - for balances over R1.0m
  • Bidvest Bidvest 40 day notice pays an interest rate of 8.2% for balances over R5.0k
  • Bidvest Bidvest 60 day notice pays an interest rate of 8.25% for balances over R5.0k
  • Bidvest Bidvest 90 day notice pays an interest rate of 8.35% for balances over R5.0k
  • Bidvest Bidvest 120 day notice pays an interest rate of 8.45% for balances over R5.0k

Notice accounts pay better interest rates than savings, however, you will need to give notice to the bank before you get access to your money.
Fixed deposits

  • Bidvest 3 month fixed deposit currently pays an interest rate of 8.24% for balances over R10.0k
  • Bidvest 6 month fixed deposit currently pays an interest rate of 8.45% for balances over R10.0k
  • Bidvest 12 month fixed deposit pays interest from 8.6% and up to 8.65% - for balances over R10.0k

Fixed deposits typically pay better rates than savings and notice accounts. Your rate is fixed throughout the term.
PS. Check out my Bidvest fixed deposit calculator to find out how much interest you can earn compared to other banks for your investment amount.