FNB Linked Savings Review for October 2024
Introduction
The FNB Linked Savings is a savings account offered by FNB. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by FNB Linked 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 FNB Linked Savings compare to other banks.
his account is exclusively available to individual cheque
FNB Linked Savings highlights
last updated 2nd October 2024 by Walter
- The FNB Money Maximiser offers interest rates 8.00% and accepts investments from R100,000
FNB Linked Savings
This table shows FNB Linked Savings's interest rates for a R1, R20,000, R50,000 and R100,000 investment in FNB Linked Savings versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 | 6.80% #7 out of 35 | 4.70% | + R 0 |
| R1 | 6.80% #7 out of 35 | 4.70% | + R 0 |
| R20,000 | 7.20% #10 out of 44 | 5.27% | + R 409 |
| R20,000 | 7.20% #10 out of 44 | 5.27% | + R 409 |
| R50,000 | 7.35% #20 out of 44 | 6.42% | + R 497 |
| R50,000 | 7.35% #20 out of 44 | 6.42% | + R 497 |
| R100,000 | 7.50% #26 out of 53 | 6.59% | + R 966 |
| R100,000 | 7.50% #26 out of 53 | 6.59% | + R 966 |
- 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 FNB Linked Savings.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 for 18+ | 6.80% | 4.70% | + 0 |
| R1 for 18+ | 6.80% | 4.70% | + 0 |
| R20,000 for 18+ | 7.20% | 5.27% | + 409 |
| R20,000 for 18+ | 7.20% | 5.27% | + 409 |
| R50,000 for 18+ | 7.35% | 6.42% | + 497 |
| R50,000 for 18+ | 7.35% | 6.42% | + 497 |
| R100,000 for 18+ | 7.50% | 6.59% | + 966 |
| R100,000 for 18+ | 7.50% | 6.59% | + 966 |
- 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 FNB Linked Savings.
You get a 7.5% interest rate at FNB Linked Savings for a R100,000 investment. The industry average for a savings account with a balance of R100,000 is 6.59%. Over one year you will earn R966 more in interest at FNB Linked 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 | R1 | 1.00% |
| AfricanBank MyWorld | R1 | 1.00% |
| AfricanBank Savings Pocket | R1 | 6.50% |
| Capitec Savings | R0 | 2.75% - 6.90% |
| FNB Linked Savings | R1 | 6.80% - 7.50% |
| Standard Bank PureSave | R0 | 5.25% - 5.55% |
| Discovery Demand Savings Account | R10,000 | 7.25% |
| Bidvest Bank Call Account | R1,000 | 3.95% - 5.95% |
| Nedbank Just Invest | R500 | 6.75% - 8.00% |
| TymeBank GoalSave | R1 | 7.00% |
| BankZero Savings | R1 | 6.70% - 7.55% |