Sasfin Interest Rate Review for May 2024

Last updated 1st May 2024 by Walter

Introduction

This page gives you an overview of Sasfin interest rates for May 2024. Sasfin offers:

  • Savings accounts. Saving accounts give you quick and easy access to your money.
  • Notice accounts. You will need to give Sasfin 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 Sasfin 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.

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

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

Name Deposit Nominal rate
Savings
R20k
8%
Notice accounts
32 day notice
R20k
8.75%
45 day notice
R20k
8.8%
60 day notice
R20k
8.9%
90 day notice
R20k
8.95%
120 day notice
R20k
9.3%
Fixed deposits
6 month
R20k
8.66%
12 month
R20k
9.5%
36 month
R20k
10%
60 month
R20k
10.25%
Savings

Sasfin offers one types of savings accounts.

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

Sasfin offers five types of notice accounts.

  • Sasfin 32 day notice pays an interest rate of 8.75% for balances over R20.0k
  • Sasfin 45 day notice pays an interest rate of 8.8% for balances over R20.0k
  • Sasfin 60 day notice pays an interest rate of 8.9% for balances over R20.0k
  • Sasfin 90 day notice pays an interest rate of 8.95% for balances over R20.0k
  • Sasfin 120 day notice pays an interest rate of 9.3% for balances over R20.0k

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

  • Sasfin 6 month fixed deposit currently pays an interest rate of 8.66% for balances over R20.0k
  • Sasfin 12 month fixed deposit currently pays an interest rate of 9.5% for balances over R20.0k
  • Sasfin 36 month fixed deposit currently pays an interest rate of 10% for balances over R20.0k
  • Sasfin 60 month fixed deposit currently pays an interest rate of 10.25% for balances over R20.0k

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