In our guide today, we will focus on the Absa notice selected in South Africa.
This product allows you to set the notice period of your investment and the amount you want available at the time.
We will first show you what you need to apply for the product.
What You Need To Apply
Below are the basic requirements to apply for the account:
- South African ID or smart card
- You need Proof of residence, such as a utility bill not older than three months.
- Minimum investment of R1,000
These are the basic requirements to apply for Absa notice select in South Africa.
Absa Notice Select Account
You can select 7, 15, 32-, 45-, 60- or 90-days notice to withdraw funds from your account.
You can make deposits to the account at any time.
There is no monthly management fee charged to this account.
Interest is calculated daily and added to your investment monthly.
Account savings of below R,1000 do not make any interest.
You can have immediate access to up to 50% of your funds any time you need them.
You can use the funds in your account as collateral for a loan.
You can make transfers through online and mobile banking and ATMs free of charge.
When you withdraw earlier than the date selected, you will be charged a penalty fee.
There is no maximum investment period, so you can invest for as long as you want to.
This is how Absa notice select works in South Africa.
Benefits Of Notice Deposit
You earn interest for all the balances above R1,000.
You can earn bonus interest when you keep the prescribed minimum balance for more than 90 days.
To qualify for the interest, you can open and manage your notice deposit account on the Absa website or the Absa banking app.
The account allows you to design your product by determining your notice period and liquidity.
The interest earned is paid to the account of your choice and the date of your choice.
The more you save, the higher the earnings from the interest.
This is all you need to know about Absa notice select in south Africa.