Standard Bank Interest Rate Review for May 2024
Introduction
This page gives you an overview of Standard Bank interest rates for May 2024. Standard Bank offers:
- Savings accounts. Saving accounts give you quick and easy access to your money.
- Notice accounts. You will need to give Standard Bank 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 Standard Bank 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.
Standard Bank interest rate overview for savings, notice accounts and fixed deposits
Here is a table of interest rates available at Standard Bank. It shows the type of account, deposit and interest rate you can get.
| Name | Deposit | Nominal rate |
| Savings | ||
R0 - 100k | 5.3 - 6.1% | |
R20k - 100k | 7.3 - 7.4% | |
R100k - 250k | 8.35 - 8.7% | |
| Notice accounts | ||
7 day notice | R250 - 1m | 4.09%- 6.77% |
14 day notice | R250 - 1m | 4.29%- 6.97% |
21 day notice | R250 - 1m | 4.59%- 7.17% |
45 day notice | R250 - 1m | 7.14%- 8.17% |
32 day notice | R250 - 1m | 5.29%- 8.22% |
60 day notice | R250 - 1m | 7.19%- 8.47% |
| Fixed deposits | ||
3 month | R1 - 5m | 6.82%- 8.3% |
6 month | R1 - 5m | 7.05%- 8.57% |
12 month | R1 - 5m | 7.39%- 8.88% |
24 month | R1 - 100k | 7.81%- 9.19% |
36 month | R1 - 100k | 7.94%- 9.34% |
60 month | R1 - 100k | 8.53%- 9.86% |
Check out the full Standard Bank fixed deposit review for May 2024 | ||
Standard Bank offers three types of savings accounts.
- Standard Bank PureSave starts with a minimum deposit of R0 and pays interest of 5.3%. The highest rate you can achieve with the Standard Bank PureSave is 6.1% for savings balances over R100,000.
- Standard Bank MoneyMarket Call Account requires a mininum deposit of R20,000 and pays an interest rate of 7%. Balances over R100,000 get an interest rate of 7%.
- Standard Bank MoneyMarket Select requires a mininum deposit of R100,000 and pays an interest rate of 8%. Balances over R250,000 get an interest rate of 9%.
Standard Bank offers six types of notice accounts.
- Standard Bank 7 day notice pays interest from 4.09% and up to 6.77% - for balances over R1.0m
- Standard Bank 14 day notice pays interest from 4.29% and up to 6.97% - for balances over R1.0m
- Standard Bank 21 day notice pays interest from 4.59% and up to 7.17% - for balances over R1.0m
- Standard Bank 45 day notice pays interest from 7.14% and up to 8.17% - for balances over R1.0m
- Standard Bank 32 day notice pays interest from 5.29% and up to 8.22% - for balances over R1.0m
- Standard Bank 60 day notice pays interest from 7.19% and up to 8.47% - for balances over R1.0m
- Standard Bank 3 month fixed deposit pays interest from 6.82% and up to 8.3% - for balances over R5.0m
- Standard Bank 6 month fixed deposit pays interest from 7.05% and up to 8.57% - for balances over R5.0m
- Standard Bank 12 month fixed deposit pays interest from 7.39% and up to 8.88% - for balances over R5.0m
- Standard Bank 24 month fixed deposit pays interest from 7.81% and up to 9.19% - for balances over R100.0k
- Standard Bank 36 month fixed deposit pays interest from 7.94% and up to 9.34% - for balances over R100.0k
- Standard Bank 60 month fixed deposit pays interest from 8.53% and up to 9.86% - for balances over R100.0k
