The Absa Islamic Gold Graduate Account provides Shari’ah compliant banking for newly graduates and graduates to be. The account has low fees and offers benefits that are unique to graduates.
This account offers similar services and benefits like that of the Absa Gold Graduate Account. The slight difference is with lending and access to loans. The Absa Gold Graduate Account issues loans to account holders before their first pay whereas the Absa Islamic Gold Graduate Account doesn’t.
Services on the account come in two ways, that is, there are free unlimited services and out of bundle services. Unlimited services include electronic balance enquiry, funds transfers, debit card purchases, cash withdrawals at point of sale, and access to Absa digital platforms.
The Absa Islamic Gold Graduate Account is a Shari’ah compliant cheque account for graduates under the age of 30. The account has a monthly service fee of R54.50. Account-holders get a 50% discount on their monthly service fee if they maintain a balance of R30,000.00 throughout the month. As a result, the monthly service fee due will be R27.25.
You can make free cash deposits of up to R4,500.00 per month and cash withdrawals of up to R4,500.00 per month at any Absa ATM. Unused allocated transactions are rolled over to the next month. The account also comes with MasterPass access to make transacting more earlier and convenient.
|1||Monthly service fee||R54.50|
|2||Waiver if you maintain a balance of R30,000.00 in your account||50%|
|3||Absa ATM withdrawal||Free up to R4500.00 thereafter R2.00 per R100.00|
|4||Absa branch withdrawal||R75.00 plus R2.10 per R100.00|
|5||Cash deposit at an Absa ATM||Free up to R4500.00 thereafter R2.00 per R100.00|
|6||Cash deposit at Absa branch||R60.00 + R2.00 per R100.00|
|7||Cheque deposit at Absa branch||R60.00|
|8||Overseas ATM or Point of sale cash withdrawal||R75.00|
|9||Accounts payments at Absa branch||R75.00|
|10||Accounts payments at Absa ATM, Online, Mobile or Telephone||R10.00|
|11||Immediate interbank payments: online, mobile||R65.00|
|12||Immediate interbank payments: Telephone Adviser||R72.00|
|13||Electronic balance and statement enquiry||Free|
|14||Funds transfer and internal payments||Free|
|15||Debit or cheque card purchases||Free|
|16||Cash withdrawals at point of sale||Free|
|17||Electronic account and beneficiary payments||Free|
|18||SMS and email notifications||Free|
|19||Account verification online||R6.50|
|20||Cheque issued fee||R200.00|
|21||Stop payments at an Absa branch||R75.00|
|22||Stop payments online||R32.00|
|23||Special clearance fee||R200.00|
|24||Debit card replacement fee||R140.00|
|25||Debit card face to face delivery||Free|
The Islamic Gold Graduate Account is an account that a graduate can use to climb the banking ladder at Absa. The account fees are affordable and relatively low when compared to other Absa account fees.