Reasons to open a Notice Deposit account

What makes a Notice Deposit account a good way to grow your money, is that your savings consistently earn a competitive rate which increases as your account balance increases.

HOW A NOTICE DEPOSIT WORKS

A Notice Deposit account lets you invest and earn interest based on your account balance and what the account notice period is. With a Standard Bank Notice Deposit investment account, you choose what you would like your notice period to be (7, 14, 21, 32, 45 or 60 days), and you can make unlimited deposits and transfers.

Open a Notice Deposit

You can choose to invest for however long you want, but to access your funds, you need to give the bank notice that you intend to do so. Therefore, if you chose a 7-day notice period, you would have to wait 7 days to access your money. If you need access sooner than your notice period, you’ll pay a withdrawal fee for cashing out early.

WHY CHOOSE A NOTICE DEPOSIT INVESTMENT ACCOUNT?

1. You want to reach your savings goal

Start building towards reaching your savings goal through a guaranteed interest-bearing account that allows your money to grow through interest. Since the amount of interest you earn is based on your account balance, every time you earn interest, your balance increases, which gives you the opportunity to earn more interest and reach your savings goal sooner.

2. You want low risk and flexibility

Your capital is guaranteed, and there are no monthly fees, which means that there’s nothing eating into your savings or that the value of your account drops if the share market does.

3. You want flexibility

You choose when you’d like to access your funds, and you’re free to add as much to it as you want and whenever it suits you.

4. You don’t need access right away

It’s a great way to park your money to grow, and because you have to wait to access it, it’s less tempting to dip into. It’s a great option if you can afford to keep it invested. You also get a better interest rate the longer your notice period is, so it pays to wait.

5. You want a great rate

A Notice Deposit investment account offers a competitive interest rate of up to 8.47%. You can enjoy a higher rate based on a longer notice period, plus the amount of interest you earn grows as your money does.

_{*Terms and conditions apply}

_{Disclaimer: This article is solely intended for information. It does not constitute financial, tax or investment advice or recommendation. Please speak to a financial advisor or registered financial professional before making any financial decision(s).}

_{Standard Bank, its subsidiaries or holding company, or any subsidiary of the holding company and all of its subsidiaries make no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the information provided in this article or that it is free from errors or omissions.}