Nedbank Just Invest Review for May 2024
Introduction
The Nedbank Just Invest is a savings account offered by Nedbank. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Nedbank Just Invest and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Nedbank Just Invest compare to other banks.
The Nedbank JustInvest is an easy access account. You’ll need to give at least 24 hours’ notice for any withdrawal.
Nedbank Just Invest highlights
last updated 1st May 2024 by Walter
- The Nedbank MoneyTrader offers interest rates 8.30% - 8.75% and accepts investments from R50,000
- The Nedbank Money Market Investment Account offers interest rates 5.50% - 6.75% and accepts investments from R20,000
Nedbank Just Invest
This table shows Nedbank Just Invest's interest rates for a R1, R2,500, R25,000, R50,000, R100,000 and R250,000 investment in Nedbank Just Invest versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 | 7.05% #3 out of 24 | 4.77% | + R 0 |
| R2,500 | 7.55% #3 out of 24 | 4.88% | + R 71 |
| R25,000 | 7.70% #5 out of 30 | 5.38% | + R 616 |
| R50,000 | 7.80% #8 out of 32 | 5.85% | + R 1,036 |
| R100,000 | 8.50% #3 out of 36 | 6.59% | + R 2,049 |
| R250,000 | 8.75% #3 out of 38 | 6.83% | + R 5,150 |
- 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 Nedbank Just Invest.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R1 for 18+ | 7.05% | 4.77% | + 0 |
| R2,500 for 18+ | 7.55% | 4.88% | + 71 |
| R25,000 for 18+ | 7.70% | 5.38% | + 616 |
| R50,000 for 18+ | 7.80% | 5.85% | + 1,036 |
| R100,000 for 18+ | 8.50% | 6.59% | + 2,049 |
| R250,000 for 18+ | 8.75% | 6.83% | + 5,150 |
- 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 Nedbank Just Invest.
You get a 8.75% interest rate at Nedbank Just Invest for a R250,000 investment. The industry average for a savings account with a balance of R250,000 is 6.83%. Over one year you will earn R5,150 more in interest at Nedbank Just Invest 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 | 7.00% |
| Capitec Savings | R0 | 3.20% - 7.15% |
| FNB Linked Savings | R1 | 7.05% - 7.80% |
| Standard Bank PureSave | R0 | 5.30% - 6.10% |
| Discovery Demand Savings Account | R10,000 | 3.50% |
| Bidvest Bank Call Account | R1,000 | 4.20% - 6.20% |
| Nedbank Just Invest | R500 | 7.05% - 8.75% |
| TymeBank GoalSave | R1 | 7.00% |
