Sasfin Bank provides a variety of fixed deposit accounts, offering interest rates ranging from 8.30% to 10.25%. To open a Sasfin fixed deposit account, a minimum deposit of R10,000.00 is required, with no maximum limit. However, higher investments amounts get optimized interest rates.
Investors can select from investment periods spanning 1 to 60 months, accommodating short, medium, and long-term investment strategies. There are no monthly maintenance fees associated with Sasfin Fixed Deposit accounts.
These accounts are accessible to both businesses and individuals, with account holders enjoying 24/7 customer support through the Sasfin customer relationship center.
Interest earnings can be withdrawn monthly or annually. Opting to receive interest earnings at maturity automatically capitalizes monthly interest earnings.
Below we present the detailed breakdown of Sasfin Bank’s Fixed Deposit Rates for the year 2024, showcasing both the nominal and annual-effective rates across various investment periods.
Investment Period | Nominal Rate | Annual-Effective Rate |
---|---|---|
1 Month | 8.30% | 8.30% |
2 Months | 8.37% | 8.40% |
3 Months | 8.45% | 8.51% |
4 Months | 8.52% | 8.61% |
5 Months | 8.59% | 8.71% |
6 Months | 8.66% | 8.82% |
7 Months | 8.73% | 8.92% |
8 Months | 8.80% | 9.03% |
9 Months | 8.86% | 9.13% |
10 Months | 8.93% | 9.24% |
11 Months | 8.99% | 9.33% |
12 Months | 9.50% | 9.92% |
18 Months | 9.60% | 10.28% |
24 Months | 9.80% | 10.78% |
36 Months | 10.00% | 11.61% |
60 Months | 10.25% | 13.32% |
Nominal Rate: 8.30%
Annual-Effective Rate: 8.30%
Analysis: This term offers a short-term investment option suitable for those seeking quick returns or needing liquidity in the near future. It provides a modest but competitive interest rate, making it an attractive choice for short-term financial goals or temporary cash parking.
Nominal Rate: 8.37%
Annual-Effective Rate: 8.40%
Analysis: Slightly higher than the 1-month term, the 2-month term offers a marginally increased interest rate. It still maintains short-term flexibility while providing a slightly better return on investment, making it suitable for those with a slightly longer investment horizon but still seeking relatively quick access to their funds.
Nominal Rate: 8.45%
Annual-Effective Rate: 8.51%
Analysis: This term strikes a balance between short-term flexibility and higher returns. It offers a competitive interest rate, making it suitable for investors with moderate risk tolerance who are looking to maximize returns over a relatively short investment period without committing to a longer-term plan.
Nominal Rate: 8.52%
Annual-Effective Rate: 8.61%
Analysis: The 4-month term offers a slightly higher interest rate compared to shorter terms, making it an attractive option for those seeking better returns while still maintaining relatively short-term flexibility. It suits investors looking for a balance between returns and access to their funds.
Analysis: These terms continue the trend of increasing interest rates compared to shorter terms, providing investors with even better returns for slightly longer commitments. They are suitable for individuals or businesses looking for medium-term investment options with competitive rates and a balance between liquidity and returns.
Nominal Rate: 9.50%
Annual-Effective Rate: 9.92%
Analysis: The 12-month term offers the highest interest rate within this range, making it an attractive option for investors seeking stable returns over a slightly longer period. It suits individuals or businesses with medium-term financial goals who are willing to commit their funds for a year to maximize returns while maintaining liquidity.
Nominal Rate: 9.60%
Annual-Effective Rate: 10.28%
Analysis: The 18-month term offers competitive interest rates, rewarding investors who are willing to commit their funds for a year and a half. It provides attractive returns while still maintaining some flexibility compared to longer-term options, making it suitable for investors with medium to long-term financial goals.
Nominal Rate: 9.80%
Annual-Effective Rate: 10.78%
Analysis: The 24-month term continues the trend of increasing interest rates, offering even higher returns for investors looking to secure their funds for a longer period. It suits individuals or businesses with long-term financial objectives who seek stable returns and are willing to commit their funds for two years to maximize growth potential.
Nominal Rate: 10.00%
Annual-Effective Rate: 11.61%
Analysis: The 36-month term offers competitive interest rates, rewarding investors who commit their funds for three years. It provides a balance between attractive returns and long-term stability, making it suitable for investors with medium to long-term financial objectives, such as retirement planning or saving for major life events.
Nominal Rate: 10.25%
Annual-Effective Rate: 13.32%
Analysis: The 60-month term offers the highest interest rates within this range, making it an attractive option for investors seeking maximum returns over a longer period. It suits individuals or businesses with long-term financial goals who prioritize stable, high-yield returns and are willing to commit their funds for five years to achieve their objectives.
Sasfin Bank’s Fixed Deposit accounts offer a secure and flexible investment option for individuals and businesses alike. With competitive interest rates, customizable investment periods, and capital guaranteed, investors can confidently grow their wealth while preserving their capital. The absence of monthly maintenance fees, coupled with access to 24/7 customer support, further enhances the convenience and reliability of Sasfin Fixed Deposit accounts. Whether you’re planning for short-term liquidity needs or long-term financial goals, Sasfin Bank provides a comprehensive solution to meet your investment needs with stability, security, and rewarding returns.
This website uses cookies.