In our guide today, we will focus on the Absa depositor plus account in South Africa.
We will briefly explain to you in detail what a depositor plus account is.
What Is A Depositor Plus Account
This is a flexible savings investment with broader market appeal.
The account aims to encourage and reward people for saving with the bank by offering them one of the highest-earning rates in the country.
It is very easy to save with this account, and the requirements to join the account are affordable.
We will now show you exactly how the Absa deposit plus account operates in South Africa.
Absa Depositor Plus Account
A customer is flexible in choosing when and how much to save depending on their personal goals.
You can easily access the funds in an emergency through a safe and secure interface.
You can deposit funds at any time, and if you use digital banking services, the transfer is free of charge.
Electronic money transfers allow customers to quickly and easily transfer funds to and from accounts.
The minimum amount to open an account is R15 000.
There is no monthly service fee (charges) for this account.
Absa can load a stop order into the account to ensure that clients save more regularly to achieve their savings goals and the higher interest offered.
The account has a zero monthly free plan which allows clients to avoid eroding capital.
The attractive high returns reward South Africans who focus on increasing their savings.
Absa launched the account to rejuvenate its savings and investment range and promises to introduce additional products to establish market leadership.
This is how Absa depositor plus works in South Africa.
Now that you understand how the account works, we will show you the interest rates for this account.
What Is The Interest Rate For Depositor Account
It is one of the leading interest rates of up to 5%, which is one of the most appealing properties of the account.
The Absa depositor plus uses a tier interest rate model.
Customers who save more are awarded higher interest rates for their higher balances.
We will now show you how to apply for the account
How To Apply Or Register
To apply for an Absa depositor plus account, you need to present your South African ID and proof of residence not older than three (3) months.
To qualify, open or manage the account, you can use the Absa banking app or visit the website https://xdnt.absa.co.za/xsms/dsp/#.
You can also contact Absa bank on 0860 111 515.
This is all you need to know about Absa depositors plus accounts in South Africa.