Our guide today will focus on Absa liquidity plus account in South Africa.
A liquidity plus account is an instant access savings account that saves surplus funds and builds an investment balance for you.
The account allows you to park excess funds or build an investment balance while still earning interest at a competitive rate.
We will first show you the features of this account.
Absa Liquidity Plus Account
There is no minimum opening deposit required for this account.
The interest rate for this account is tiered, meaning that the higher your account balance, the higher the interest rate received.
The account allows additional deposits and withdrawals.
You can also do an inter-account transfer of funds with this account.
You are not charged any monthly management fees, and for transactions, the standard transaction fee applies.
Your capital is guaranteed when you save with this account.
These are the features of liquidity plus account in South Africa.
Now that you know the features, we will show you the interest rates for this account.
Interest Rates For Absa Liquidity Plus Account In South Africa
Account balances below R1000 do not attract any interest.
Account balance below R15 000 has a liquidity plus of 2.00%.
The interest for account balance between R15 000 to R75 000 is 3.3%.
Account balances above R75 000 and below R1 000 000 have liquidity plus of 3.45%.
An account with a balance of more than R10 000 000 has liquidity plus interest of 3.55%.
This is the interest rate for liquidity plus account in South Africa as of January 2023.
What Is The Maximum Investment Period
There is no minimum or maximum investment period with this account.
This means that you can invest for infinity and that you can withdraw your savings whenever you need to.
The longer you invest, the more interest you receive over time.
This is all you need to know about Absa liquidity plus account in South Africa.