Standard Bank is a leading banking institution with a 150-year history in South Africa- making it one of the oldest banks in the country. In recent years the bank has also expanded its services to another 18 countries on the African continent. The Johannesburg Stock Exchange-listed institution operates 1222 branches and has a BBB+ rating from all leading credit agencies.
Among the range of financial services offered by Standard Bank are fixed deposits.
Most of the money saved by individuals in South Africa is in bank accounts. The reality is that bank savings are not a great choice in terms of the returns they offer.
With a well-regulated financial industry, bank investments in South Africa are safe.
Fixed deposits are the best ways to save because they offer you great interest and help to encourage saving habits.
This is a dependable investment tool that enables you to predict how much interest you will be paid upon maturity. Funds can only be accessed at the end of the investment period.
More about the Standard Bank 1 year Fixed Deposit:
This fixed deposit is a safer investment option and encourages a savings habit. It essentially earns you a higher interest rate compared to a savings account.
Interest is payable at maturity, annually or monthly.
You have the option to open multiple accounts to pay out at different times.
Funds cannot be added once fixed.
You also have the option to manage your account online at any time of the day.
How much interest can you expect to earn?
For electronic fixed deposits between R1000 and R99 999 you may earn up to 7.85%
For more information about the Standard Bank 1 Year Fixed Deposit, call: 0860 123 000