AfricanBank MyWorld Review for September 2024

Last updated 2nd September 2024 by Walter

Introduction

The AfricanBank MyWorld is a savings account offered by African Bank. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.

This page summarises interest rates offered by AfricanBank MyWorld and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by AfricanBank MyWorld compare to other banks.

The person who opens a MyWORLD account is the Primary Account Holder. Your MyWORLD account comes with: One Power Pocket One Savings Pocket The option to link up to five Pockets to your account

AfricanBank MyWorld highlights

last updated 2nd September 2024 by Walter

R1
min deposit
3.50%
interest rate
PS. Did you know that African Bank also offers the following

AfricanBank MyWorld

This table shows AfricanBank MyWorld's interest rates for a R10,000, R100,000, R250,000, R1,000,000 and R5,000,000 investment in AfricanBank MyWorld versus the industry average.

Investment amount Nominal Industry average1 Earnings vs average2
R10,000
3.50%
#33 out of 44
5.67%
- R
227
R10,000
3.50%
#33 out of 44
5.67%
- R
227
R10,000
3.50%
#33 out of 44
5.67%
- R
227
R10,000
3.50%
#33 out of 44
5.67%
- R
227
R100,000
3.50%
#66 out of 70
6.95%
- R
3,623
R100,000
3.50%
#66 out of 70
6.95%
- R
3,623
R100,000
3.50%
#66 out of 70
6.95%
- R
3,623
R100,000
3.50%
#66 out of 70
6.95%
- R
3,623
R250,000
3.50%
#70 out of 74
7.15%
- R
9,591
R250,000
3.50%
#70 out of 74
7.15%
- R
9,591
R250,000
3.50%
#70 out of 74
7.15%
- R
9,591
R250,000
3.50%
#70 out of 74
7.15%
- R
9,591
R1,000,000
3.50%
#62 out of 66
7.02%
- R
36,947
R1,000,000
3.50%
#62 out of 66
7.02%
- R
36,947
R1,000,000
3.50%
#62 out of 66
7.02%
- R
36,947
R1,000,000
3.50%
#62 out of 66
7.02%
- R
36,947
R5,000,000
3.50%
#62 out of 66
7.02%
- R
184,736
R5,000,000
3.50%
#62 out of 66
7.02%
- R
184,736
R5,000,000
3.50%
#62 out of 66
7.02%
- R
184,736
R5,000,000
3.50%
#62 out of 66
7.02%
- R
184,736
  • 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 AfricanBank MyWorld.
How to read this table?

You get a 3.5% interest rate at AfricanBank MyWorld for a R5,000,000 investment. The industry average for a savings account with a balance of R5,000,000 is 7.02%. Over one year you will earn R184,736 less in interest at AfricanBank MyWorld 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 R13.50%
AfricanBank MyWorld R13.50%
AfricanBank Savings Pocket R14.70%
Capitec Savings R03.00% - 7.15%
FNB Linked Savings R17.05% - 7.80%
Standard Bank PureSave R05.30% - 6.10%
Discovery Demand Savings Account R10,0007.25%
Bidvest Bank Call Account R1,0004.20% - 6.20%
Nedbank Just Invest R5007.05% - 8.75%
TymeBank GoalSave R17.00%
BankZero Savings R16.95% - 7.80%