BankZero Savings Review for October 2024

Last updated 2nd October 2024 by Walter

Introduction

The BankZero Savings is a savings account offered by BankZero. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.

This page summarises interest rates offered by BankZero 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 BankZero Savings compare to other banks.

A simple and modern App-driven bank for both individuals and businesses, with a fresh approach towards banking.

BankZero Savings highlights

last updated 2nd October 2024 by Walter

R1
min deposit
6.70% - 7.55%
interest rate

BankZero Savings

This table shows BankZero Savings's interest rates for a R1, R1,000, R25,000, R50,000, R100,000, R500,000 and R1,000,000 investment in BankZero Savings versus the industry average.

Investment amount Nominal Industry average1 Earnings vs average2
R1
6.70%
#12 out of 34
4.70%
+ R
0
R1
6.70%
#12 out of 34
4.70%
+ R
0
R1
6.70%
#12 out of 34
4.70%
+ R
0
R1,000
6.80%
#7 out of 34
4.71%
+ R
22
R1,000
6.80%
#7 out of 34
4.71%
+ R
22
R1,000
6.80%
#7 out of 34
4.71%
+ R
22
R25,000
7.10%
#15 out of 40
5.49%
+ R
427
R25,000
7.10%
#15 out of 40
5.49%
+ R
427
R25,000
7.10%
#15 out of 40
5.49%
+ R
427
R50,000
7.40%
#17 out of 43
6.42%
+ R
524
R50,000
7.40%
#17 out of 43
6.42%
+ R
524
R50,000
7.40%
#17 out of 43
6.42%
+ R
524
R100,000
7.45%
#28 out of 52
6.59%
+ R
912
R100,000
7.45%
#28 out of 52
6.59%
+ R
912
R100,000
7.45%
#28 out of 52
6.59%
+ R
912
R500,000
7.50%
#29 out of 55
6.76%
+ R
3,946
R500,000
7.50%
#29 out of 55
6.76%
+ R
3,946
R500,000
7.50%
#29 out of 55
6.76%
+ R
3,946
R1,000,000
7.55%
#22 out of 48
6.59%
+ R
10,198
R1,000,000
7.55%
#22 out of 48
6.59%
+ R
10,198
R1,000,000
7.55%
#22 out of 48
6.59%
+ R
10,198
  • 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 BankZero Savings.
How to read this table?

You get a 7.55% interest rate at BankZero Savings for a R1,000,000 investment. The industry average for a savings account with a balance of R1,000,000 is 6.59%. Over one year you will earn R10,198 more in interest at BankZero 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 R11.00%
AfricanBank MyWorld R11.00%
AfricanBank Savings Pocket R16.50%
Capitec Savings R02.75% - 6.90%
FNB Linked Savings R16.80% - 7.50%
Standard Bank PureSave R05.25% - 5.55%
Discovery Demand Savings Account R10,0007.25%
Bidvest Bank Call Account R1,0003.95% - 5.95%
Nedbank Just Invest R5006.75% - 8.00%
TymeBank GoalSave R17.00%
BankZero Savings R16.70% - 7.55%