Would you like to learn about Absa Notice Deposits in South Africa? Then read this quick guide.
A notice deposit refers to a savings account held with a financial institution that permits withdrawals without penalties after advance notification is issued.
The Absa notice deposit gives you the flexibility to pick your notice period with the portion of investment you want on public demand.
Now that you know what Absa notice deposits in South Africa are, we will show you the requirements.
Table of Contents
What Are The Requirements
Below are the requirements to apply for the Absa notice deposits.
- You need a certified South African ID.
- You need proof of residence, not older than three months
These are the requirements to apply for the Notice deposits in South Africa.
What You Need To Know About Notice Deposits
You are given no monthly management fee whereby you can make deposits at any time, and the more you invest, the more you earn.
Your interest is calculated on values over R1000 and added to your investments monthly, but balances below R1000 do not earn interests.
Your early withdrawal penalty fees apply, transactional fees apply, and funds transferred via Absa ATM, online and mobile at no charge.
This is what you need to know about Notice deposits in South Africa.
Absa Notice Deposits
There are two types of Absa notice deposit accounts: The notice select and The Absa notice plus.
The notice select gives you a minimum deposit of up to R1000 and is available to businesses and individuals whereby you have immediate access to the selected portion of your investment.
Absa notice plus, however, gives you a minimum deposit of up to 1000000 and is available to businesses whereby you have access to your funds within two days of giving notice of withdrawal.
These are the types of accounts of Notice deposits in South Africa.
Benefits Of Notice Deposits In South Africa
With Absa notice deposits, the more you save, the more you earn.
You have the chance to make additional deposits at any time.
Your interest is calculated daily and added to your monthly investments.
These are the benefits of Absa notice deposits in South Africa.