FNB offers a range of fixed deposit accounts which requires a minimum deposit of R10,000.00. The FNB fixed deposit accounts can yield a guaranteed nominal interest of 7.60% – 9.30% for investment periods that ranges between 1 month and 60 months.
We will delve into the world of FNB Fixed Deposit Accounts, exploring the different account options, their unique features, and the potential returns they can offer. By the end of this article, you will have a clear understanding of the Fixed Deposit landscape and how FNB stands out as a trusted choice for growing your savings.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 7.60% | 7.65% | 7.70% | 7.80% |
| 3 months | 7.85% | 7.90% | 7.95% | 8.00% |
| 6 months | 8.00% | 8.05% | 8.10% | 8.15% |
| 9 months | 8.15% | 8.20% | 8.25% | 8.30% |
| 12 months | 8.55% | 8.60% | 8.65% | 8.70% |
| 24 months | 8.65% | 8.70% | 8.75% | 8.80% |
| 36 months | 8.75% | 8.80% | 8.85% | 8.90% |
| 48 months | 8.85% | 8.90% | 8.95% | 9.00% |
| 60 months | 9.15% | 9.20% | 9.25% | 9.30% |
This table presents the nominal interest rates offered by FNB for fixed deposit accounts, segmented by different investment amounts and time periods. As evident, interest rates generally increase with longer investment periods and higher investment amounts. This could be attractive for investors seeking higher returns over extended periods.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 7.87% | 7.92% | 7.98% | 8.08% |
| 3 months | 8.14% | 8.19% | 8.25% | 8.30% |
| 6 months | 8.30% | 8.35% | 8.41% | 8.46% |
| 9 months | 8.46% | 8.52% | 8.57% | 8.62% |
| 12 months | 8.89% | 8.95% | 9.00% | 9.06% |
| 24 months | 9.00% | 9.06% | 9.11% | 9.16% |
| 36 months | 9.11% | 9.16% | 9.22% | 9.27% |
| 48 months | 9.22% | 9.27% | 9.33% | 9.38% |
| 60 months | 9.54% | 9.60% | 9.65% | 9.71% |
This table provides the annual effective rates corresponding to the nominal interest rates mentioned earlier. Annual effective rates consider compounding, giving a more accurate picture of the returns. Similar to nominal rates, effective rates also increase with longer investment periods and higher investment amounts, reflecting the potential for greater returns over time. Investors should consider both nominal and effective rates when making investment decisions to fully understand their potential earnings.
Nominal Rates for Clients Aged 55 and Above
This table presents the nominal interest rates offered by FNB for fixed deposit accounts for clients aged 55 and above.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 8.05% | 8.10% | 8.15% | 8.20% |
| 3 months | 8.20% | 8.25% | 8.30% | 8.35% |
| 6 months | 8.35% | 8.40% | 8.45% | 8.55% |
| 9 months | 8.65% | 8.70% | 8.75% | 8.85% |
| 12 months | 9.00% | 9.05% | 9.10% | 9.15% |
| 24 months | 9.05% | 9.10% | 9.15% | 9.25% |
| 36 months | 9.10% | 9.15% | 9.20% | 9.30% |
| 48 months | 9.15% | 9.20% | 9.25% | 9.35% |
| 60 months | 9.45% | 9.50% | 9.55% | 9.65% |
Annual Effective Rates for Clients Aged 55 and Above
This table provides the annual effective rates corresponding to the nominal interest rates mentioned earlier for clients aged 55 and above.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 8.35% | 8.41% | 8.46% | 8.52% |
| 3 months | 8.52% | 8.57% | 8.62% | 8.68% |
| 6 months | 8.68% | 8.73% | 8.79% | 8.89% |
| 9 months | 9.00% | 9.06% | 9.11% | 9.22% |
| 12 months | 9.38% | 9.43% | 9.49% | 9.54% |
| 24 months | 9.43% | 9.49% | 9.54% | 9.65% |
| 36 months | 9.49% | 9.54% | 9.60% | 9.71% |
| 48 months | 9.54% | 9.60% | 9.65% | 9.76% |
| 60 months | 9.87% | 9.92% | 9.98% | 10.09% |
This table showcases the preferential nominal interest rates offered by FNB for senior clients on the retirees value proposition.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 8.05% | 8.10% | 8.15% | 8.20% |
| 3 months | 8.20% | 8.25% | 8.30% | 8.35% |
| 6 months | 8.50% | 8.55% | 8.60% | 8.70% |
| 9 months | 8.80% | 8.85% | 8.90% | 9.00% |
| 12 months | 9.15% | 9.20% | 9.25% | 9.30% |
| 24 months | 9.20% | 9.25% | 9.30% | 9.40% |
| 36 months | 9.25% | 9.30% | 9.35% | 9.45% |
| 48 months | 9.30% | 9.35% | 9.40% | 9.50% |
| 60 months | 9.60% | 9.65% | 9.70% | 9.80% |
Preferential Annual Effective Rates for Senior Clients on the Retirees Value Proposition
This table presents the preferential annual effective rates corresponding to the nominal interest rates mentioned earlier for senior clients on the retirees value proposition.
| Period | R10,000 – R249,999.99 | R250,000 – R499,999.99 | R500,000 – R999,999.99 | R1,000,000+ |
|---|---|---|---|---|
| 1 month | 8.35% | 8.41% | 8.46% | 8.52% |
| 3 months | 8.52% | 8.57% | 8.62% | 8.68% |
| 6 months | 8.84% | 8.89% | 8.95% | 9.06% |
| 9 months | 9.16% | 9.22% | 9.27% | 9.38% |
| 12 months | 9.54% | 9.60% | 9.65% | 9.71% |
| 24 months | 9.60% | 9.65% | 9.71% | 9.82% |
| 36 months | 9.65% | 9.71% | 9.76% | 9.87% |
| 48 months | 9.71% | 9.76% | 9.82% | 9.92% |
| 60 months | 10.03% | 10.09% | 10.14% | 10.25% |
Fixed Deposit Accounts, often referred to as Fixed Term Deposits, are a cornerstone of conservative investing and are characterized by several key features. These accounts provide investors with the assurance of both capital security and stable returns, making them an attractive option for those seeking low-risk investments.
Fixed Deposit Accounts typically require a minimum deposit, which can vary based on the financial institution offering the account. As of the latest information in 2024, FNB sets the minimum deposit requirement at R10,000, ensuring accessibility to a wide range of investors, from those just starting their financial journey to individuals with larger sums to invest.
The cornerstone of Fixed Deposit Accounts is the interest rate offered. These rates can be quite competitive, especially when compared to the returns offered by regular savings or notice accounts. Interest rates for Fixed Deposit Accounts are presented as nominal rates, which represent the annualized interest rate accrued on a daily basis and capitalized monthly. This rate does not take into account the compounding interest effect.
As of 2024, FNB offers competitive nominal interest rates for Fixed Deposit Accounts, starting at 7.60% for a 1-month term, and scaling up to an enticing 9.30% for a 60-month term. These rates may fluctuate based on the deposit amount, with higher deposits often earning more favourable interest rates.
Fixed Deposit Accounts come with predetermined investment terms. These terms can range from as short as 1 month to as long as 60 months, allowing investors to choose a timeframe that aligns with their financial goals and preferences. Longer terms generally come with the benefit of higher interest rates, making them an appealing choice for those willing to commit their funds for an extended period.
One of the most attractive features of Fixed Deposit Accounts is the assurance of capital protection. When you invest in a Fixed Deposit Account, your original deposit and the quoted returns are 100% guaranteed, providing a level of security that is highly valued by risk-averse investors.
Fixed Deposit Accounts are open to a broad spectrum of ages. They cater to both young and older investors, providing an investment avenue that is versatile and inclusive. This means that individuals of varying ages can benefit from the security and returns that Fixed Deposit Accounts offer.
The maximum interest rates offered on Fixed Deposit Accounts represent the pinnacle of returns that investors can expect to earn over the course of their investment. These rates, which can reach up to 9.30% for a 60-month term with FNB in 2023, are especially appealing for those who prioritize returns and financial growth while still maintaining a low-risk investment profile.
Selecting the most suitable term for your Fixed Deposit Account depends on your unique financial goals and risk tolerance. Here are some considerations to help you decide:
To open an FNB Fixed Deposit Account, you need to meet certain eligibility criteria. Here’s what you should know:
Applying for an FNB Fixed Deposit Account is a straightforward process, and FNB offers multiple channels for account opening:
To successfully open an FNB Fixed Deposit Account, you will need to provide specific documents as part of your application:
Opening an FNB Fixed Deposit Account is accessible and convenient for eligible individuals. By meeting the specified eligibility criteria and providing the necessary documentation, you can take advantage of the security and potential returns offered by these accounts. Whether you prefer in-person assistance at a branch, remote guidance through customer service, or the ease of online account opening, FNB ensures that the process is designed to accommodate a wide range of preferences and needs.
An FNB Fixed Deposit Account is a secure savings and investment option with guaranteed returns over a predetermined term.
As of the latest data available in 2024, the minimum deposit required for an FNB Fixed Deposit Account is R1,000.
FNB offers investment terms ranging from 1 month to 60 months, allowing you to choose the term that best suits your financial goals.
Yes, FNB Fixed Deposit Accounts offer competitive interest rates, with rates varying based on the deposit amount and the chosen term.
Yes, FNB Fixed Deposit Accounts provide a 100% capital guarantee, ensuring that your original deposit and quoted returns are fully protected.
The Fixed Deposit Plus Account offers higher interest rates compared to the standard Fixed Deposit Account, making it suitable for those seeking increased returns.
Yes, you have the option to add additional funds to your Fixed Deposit Account upon maturity, allowing you to continue growing your savings.
You can open and manage your FNB Fixed Deposit Account through FNB’s secure online platform, visit an FNB branch and speak with a banking consultant, or contact FNB’s customer service for guidance.
To open an FNB Fixed Deposit Account, you will need a valid South African ID document or passport with a valid work permit, as well as proof of residence not older than three months.
Non-South African citizens can open an FNB Fixed Deposit Account if they are permanent residents of South Africa and meet the identification requirements.
Interest on Fixed Deposit Accounts is typically paid at maturity, but you may also have the option to access interest during the investment term.
Early withdrawal from a Fixed Deposit Account may result in penalties or a reduction in the interest earned. Specific terms may vary based on the account type and financial institution.
Yes, the interest rates on Fixed Deposit Accounts remain fixed throughout the term, providing rate stability and predictability.
You can track the progress of your Fixed Deposit Account, including interest earned and maturity dates, through FNB’s online banking portal.
Yes, you typically have the option to reinvest or transfer your interest to another account when your Fixed Deposit matures.
FNB Fixed Deposit Accounts are available to a wide range of ages, catering to both younger and older investors.
Yes, senior clients aged 55 and above may qualify for preferential interest rates on Fixed Deposit Accounts.
Fixed Deposit Accounts typically do not offer compounding interest. The interest rate represents an annualized rate that is accrued daily and capitalized monthly.
Yes, you can open multiple Fixed Deposit Accounts with different terms to diversify your investments and meet various financial goals.
You can estimate your potential returns by multiplying your initial deposit by the applicable interest rate, considering the term of your investment, and accounting for any additional contributions or withdrawals.
This website uses cookies.
