Term Save

Benefits of Term Save:

- A minimum of R1 000 is needed to start investing

- There is no limitation on the maximum amount

- The deposit is fixed for a period of 24 months

- Interest can be paid to your Postbank account either 6 monthly or at Maturity / auto renewal

Make it work for you

If you have a lump sum of money that you don’t need right away but will need it in the near future, Term Save is for you. Instead of leaving this money in a normal transaction account where you earn little interest, you can put it into a Term Save. If you can, make your Term Save seven months or more as this is when you really earn good rates of interest.

It’s always best to stick to the full term of your Term Save. If you terminate it early, normal Smart Save account interest rates will apply depending on the amount invested.

How to apply

You can apply at your nearest Post Office. All you need is your ID document and a proof of residential address in order to comply with the Financial Intelligence Centre Act (FICA).

Term Save Fees

Term Save gives you the kind of benefits you would get from a long-term investment. However, you get added flexibility as you get to choose how long you want to invest your money which could be anything from 1 to 12 months. It’s up to you.

The minimum Term Save amount is R 1,000 and the longer you invest, higher your interest. You will need a Postbank Smart Save or card account as your money and interest will be paid into the chosen account.

Interest is calculated on a simple interest rate basis. The interest is calculated for the duration of the Term Save on the capital amount. The interest rate remains fixed for the period of the investment and will be adjusted to the going rate upon renewal.

SASSA SRD (R350) Enquiries
Tel: 080 060 10 11
Tel: +27 13 754 9439/94428/9454

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If you are an approved SRD
R350 Grant beneficiary
Postal Address
Private Bag X20609

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Fax:+ 27 51 451 2397

Fax to Email: 0865669775

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Tel: 0800 53 54 55
Tel: 0800 53 33 50
Fax: +27 51 451 2384

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- Request a Credit Order
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