How does capitec live better savings work?
It's real simple – once you've joined Live Better on our app, simply pay with your Capitec debit, credit or virtual card in-store or online to get 2% cash back. Your cash back will be paid into your Live Better savings on the 10th of the month, on Live Better day.
Earn from 3.50% interest per year on daily balances. Choose your deposit amount and the frequency of your deposits. Choose a name for your plan. Access your plan any time through Remote Banking or our ATMs.
- Life Happens. ...
- Get Control Over Your Finances. ...
- It's Cheaper Than Borrowing. ...
- Weather Economic Downturns. ...
- Pay for College Education. ...
- Avoid Sliding Into Debt. ...
- Gain Financial Flexibility and Options. ...
- Maintain Your Capital and Its Value.
Invest for 6 – 60 months, with a minimum balance of R10 000. When your deposit starts earning interest, you can reinvest the interest or transfer it to your main savings account. Invest for 6 – 24 months, with a R1 million maximum investment.
When you download the new Capitec banking app and activate the EasyEquities widget, you'll be able to invest securely from anywhere, at any time. You can start investing immediately from as little as R5 and, as a Capitec client, you'll save 20% on the commission you would pay when you make an investment.
With no complicated levels and no fees, our Live Better rewards are available to all our clients. We reward you for banking better, so you can live better. We'll help you bank, save, and spend better every day with tips and actions to simplify your banking.
Earn from 3.50% interest per year on daily balances. Easy transactions at lower, transparent bank costs. Manage your savings plans and your money using our app, cellphone *120*3279#, the Internet and your Global One card.
To access these Live Better Points, simply download the app and sign up for a Live Better account with your My Medibank details. After six months, any unclaimed points will expire.
Another red flag that you have too much cash in your savings account is if you exceed the $250,000 limit set by the Federal Deposit Insurance Corporation (FDIC) — obviously not a concern for the average saver.
Currently, money market funds pay between 0.85% and 1.05% in interest. With that, you can earn between $85 to $105 in interest on $10,000 each year.
How do savings accounts earn interest?
- Take advance of bank bonuses. ...
- Consider certificates of deposits. ...
- Build a CD ladder. ...
- Switch to a high-interest savings account. ...
- Consider a rewards checking account.
- Guaranteed Income2 to help you achieve your long-term goals.
- Option to get back 110% of total premiums paid5
- Life insurance cover1 for financial security of your family.
- Tax benefits3 may be applicable on premiums paid and benefits received as per the prevailing tax laws.
| S.No. | Savings Bank Account | Rates of Interest (p.a.) |
|---|---|---|
| 1. | State Bank of India (SBI) Savings Account | 2.70% p.a. |
| 2. | HDFC Bank Savings Account | 3.50% p.a. |
| 3. | Kotak Mahindra Bank Savings Account | 3.50% p.a. |
| 4. | DCB Bank Savings Account | 6.50% p.a. |
A savings account is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest. These accounts are federally insured up to $250,000 per account owner and offer a safe place to put your money while earning interest.
- Make savings a priority. Each time you're paid, put a portion of it toward savings. ...
- Automate your savings. Most financial institutions allow you to automatically transfer funds online or via mobile apps from checking to savings accounts.
- Find money to save. ...
- Keep the change. ...
- Cancel extra costs.
- Pay extra into your bond. ...
- Pay extra into your credit card. ...
- Opt for tax-free savings. ...
- Start a retirement annuity. ...
- Invest it in a unit trust. ...
- Exchange traded funds (ETF) ...
- Education fund. ...
- Save for a rainy day.
...
R100 000+
| R10 000 - R24 999 | ||
|---|---|---|
| 49 - 60 | 8.85% | 9.22% |
| R25 000 - R99 999 | ||
| Nominal | Effective | |
| 6 | 6.00% | 6.17% |
You can invest from as little as R100 per month – investing something is better than nothing at all! “Typically, the minimum investment amount would be a R500 contribution per month,” says van Schalkwyk. Equity funds primarily invest in stocks, so be prepared to take on the impact of any major stock market movements.
The national average interest rate for savings is 0.13% annual percentage yield (the amount of interest an account earns in a year), but many national banks pay only 0.01%. If you deposit $100 in one of those savings accounts, you'll end up with one penny in interest after a year.
- Tracking expenses. ...
- Trimming spending. ...
- Identifying goals. ...
- Reduce your bills. ...
- Use tax credits and allowances. ...
- Consolidate your debts. ...
- Change your shopping habits. ...
- Cook more.
Do you pay for live better Capitec?
With no complicated levels and no fees, our Live Better rewards are available to all our clients. We reward you for banking better, so you can live better. We'll help you bank, save, and spend better every day with tips and actions to simplify your banking.
- Choose Save.
- Enter your secret Remote PIN to sign in.
- Choose Transfer Money.
- Choose the “From” and “To” account.
- Enter the transfer amount.
- Choose Transfer
What is Interest Sweep? Interest Sweep is a smart tool that does the saving for you by transferring any interest earned on your main transactional savings account into your Live Better savings at the end of every month.
The most straightforward way to deposit funds into savings is to fill out a deposit slip and submit the cash or check to a teller in a bank branch. Deposit slips ask for either the checking or savings account number. You can also deposit cash or checks into your savings account through an automated teller machine.
