FNB Savings Account Review 2022

Published by
Parddon Khumalo

The FNB savings account is exclusively available to individual Cheque Account clients.


It is one of the most flexible savings accounts with the popular feature ’’save my change’’ that allows you to make multiple deposits to your savings account.

Qualifying criteria:

This account is exclusively available to individual Cheque Account clients.


Applications can be done online at the FNB website, by visiting an FNB branch, or by signing up with your phone.

To sign up with your phone you have to:

  1. dial *120*321#
  2. Select Save and Invest.
  3. Choose the Savings Account option.
  4. Then select start saving.

Free Bank your change

This FNB unique feature is free to activate and it’s free of charge. Bank my change allows you to save every time you swipe your transactional card.


It rounds off each transactional account card purchase value up to the nearest rand, and the difference is transferred into your FNB savings account.

The function allows you to choose your own top-up amount from R2, R5, R10, R20 or R50. So, each time you swipe that amount is transferred to your savings account.

Regular transfers and withdrawals

You can set up scheduled transfers that will move money from your cheque account to your FNB Savings and Cash Investment account automatically.

This is a disciplined way of saving especially towards a set goal. On your selected day of the month, your desired amount of money will be moved to your savings account.

There is no waiting period to get access to your money. To make a withdrawal, you merely log into your internet banking and request a transfer from your savings account to the transactional account.

Interest earned

The interest rate is based on the balance of your account, 3.8% from R75 000. The interest rate increases as the account balance increases (the more you save the more you earn).

The bank compounds your interest from your FNB savings account balance.

Competitive advantages of the FNB Savings Account

  • There are no monthly fees
  • Easy access to your funds whenever there is an urgent financial need.
  • It is flexible since there is no limit on the number of deposits and withdrawals you make. Also, you don’t need to wait to make a withdrawal since everything can be done on your mobile app or internet banking.

Competitive disadvantages of FNB Savings Account

The interest yield is too low, especially on amounts lower than R75 000. Currently, any savings account offering you less than 4% interest per annum is not actually growing the value of your money. That is because, at a rate of less than 4%, inflation is outgrowing your money.

Since savings accounts do not carry the risk of losing your principal, the FNB savings account is good for starters. It will assist you to put together funds for a better account with much higher earnings.


The FNB Savings Account is one of the best savings accounts available.

Sign up with them to begin your journey of saving money today.

With the information given above, you can easily open your savings account today.

FNB Savings Account Review 2022
Parddon Khumalo

Published by
Parddon Khumalo
Tags: FNB