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FAQs
What is the interest on a 32 day FNB account? ›
32 Day Flexi Notice
| Amount | Interest | Effective Rate |
|---|---|---|
| R100 000 - R499 999 | 8.25% | 8.57% |
| R500 000 - R999 999 | 8.30% | 8.62% |
| R1m - R4 999 999 | 8.35% | 8.68% |
| R5m+ | 8.45% | 8.79% |
Savings Account rates
| Amount | Nominal Rate | Effective Rate |
|---|---|---|
| R1 − R19,999 | 7.05% | 7.28% |
| R20,000 − R24,999 | 7.25% | 7.50% |
| R25,000 − R74,999 | 7.70% | 7.98% |
| R75,000 − R99,999 | 7.80% | 8.08% |
Interest is calculated daily as per the published rate and is capitalised monthly into this account. Any interest earned on this account will be tax free. Am I allowed to withdraw my funds? Yes, you can withdraw your funds from the account with 32 days' notice at no charge.
How much interest does FNB give per month? ›Nominal Interest Rate
| Period | R10 000 - R249 999.99 | R1 000 000+ |
|---|---|---|
| 1 month | 7.60% | 7.80% |
| 3 month | 7.85% | 8.00% |
| 6 month | 8.00% | 8.15% |
| 9 month | 8.15% | 8.30% |
Best High-Yield Savings Accounts of April 2024
- BrioDirect High Yield Savings Account: 5.35% APY.
- Ivy Bank High-Yield Savings Account: 5.30% APY.
- TAB Bank High Yield Savings: 5.27% APY.
- UFB Secure Savings: Up to 5.25% APY.
- EverBank Performance℠ Savings: 5.15% APY.
- Bask Interest Savings Account: 5.10% APY.
7 days ago
FNB 32 Day Interest Plus Product Rules
You must give us 32 (Thirty-Two) days closure notice if you wish to close the account without attracting any fees. Any early closure of your account before the end of a 32-day closure notice period will attract fees as determined by us from time to time.
- Interest rate linked to account balance.
- Easy access to funds after 32-days' notice.
- Interest is calculated daily and paid monthly.
- Capital is guaranteed.
To access your funds, you'll need to give a 32-day notice of withdrawal.
Does FNB have a high-yield savings account? ›Earn 4.75% APY with a High-Yield Online Savings Account | FNBO Direct.
What is the best FNB account to open? ›- Easy PAYU. R5.25 p.m. Required Income. R0. FNB Easy PAYU, named most affordable bank account in SA* ...
- Easy Smart. R65 p.m. Required Income. R0. FNB Easy Smart has the most affordable online transactions (EFTs & debit orders) plus monthly reward benefits. ...
- Aspire. from R99 p.m. Required Income. R84 000.
What is a good interest rate for savings account? ›
By comparison, interest rates for some high-yield savings accounts exceed 5.00%. Vanessa Potter, assistant vice president and branch manager at Addition Financial Credit Union, pegs the best interest rate for a savings account at 4.00% or more.
Are notice accounts worth it? ›Notice accounts are worth considering if you're after a decent interest rate, and you don't mind waiting before you can access your funds. It's worth looking into savings accounts that offer a good interest rate and making sure it meets your needs.
How much is the interest rate at FNB? ›Simply Save
| Amount | Interest (per annum) | Effective Rate |
|---|---|---|
| R500 000 - R999 999 | 5.40% | 5.54% |
| R1m - R1 999 999 | 6.00% | 6.17% |
| R2m - R2 999 999 | 6.05% | 6.22% |
| R3m - R3 999 999 | 6.10% | 6.27% |
Funds cannot be withdrawn directly from your FNB Tax-Free Cash Deposit. To make a withdrawal you will need to first transfer the funds from your FNB Tax-Free Cash Deposit into your FNB transactional account and withdraw the funds from there.
What is the interest rate on FNB Flexi fixed deposit? ›Flexi Fixed Deposit
| Amount | 3 Month Term | 12 Month Term |
|---|---|---|
| R5 000 - R9 999 | 5.00% | 5.75% |
| R10 000 - R99 999 | 7.00% | 7.25% |
| R100 000 - R999 999 | 8.10% | 8.25% |
| R1 000 000+ | 8.25% | 8.35% |
May 26, 2023
Savings Account Interest Calculation Formula
In other words, the interest you earn from your Savings Account also earns interest if you maintain the same balance and don't withdraw the interest income. Interest = Daily balance * (Number of Days) * Interest / (Days in a Year).
The average yield in the U.S. is 0.57 percent annual percentage yield (APY). Enter an APY to see how much you can save, or choose an APY from one of our partners. Calculating how much you're saving can help motivate you to save more. It can also help you determine how much you'll have saved over time.
How much interest can I get on 100k? ›Annual compound interest earnings:
At 4.25%, your $100,000 would earn $4,250 per year. At 4.50%, your $100,000 would earn $4,500 per year. At 4.75%, your $100,000 would earn $4,750 per year. At 5.00%, your $100,000 would earn $5,000 per year.