Today we will focus on the Absa TruSave in South Africa.
This product helps you save for goals or emergencies as you have immediate access to your funds.
This account is perfect for somebody who wants to start saving.
We will first show you the requirements to open a TruSave in South Africa.
What Are The Requirements
Below are the basic requirements to apply for Absa TruSave:
- You should have your South African ID or smart card
- You should be 18 years or older
- You need proof of residence not older than 90 days
These are the basic requirements to apply for the Absa TruSave in south Africa.
You only need R50 to open an account for Absa TrueSave.
There is no initiation fee or monthly service fees charged on your account.
You are only charged for the transaction fees.
Interest on the account is calculated daily and paid to you monthly.
You can withdraw your funds anytime, and you don’t need to do any prior notice to the bank.
Each month, you get two free Absa ATM cash deposits and two free Absa ATM mini-statements.
You can apply and manage the account through Absa online banking or the mobile app.
This is how the Absa TruSave works in South Africa.
What Is The Interest Rate On TrueSave Account
There is a flat interest rate of 0.45% on all TruSave accounts.
The flat interest rate applies for an account with balances above R50.00.
Accounts with less than R50 do not attract any interest.
Accounts with balance tiers between R 10 000 and R1 million have an interest rate of 0.45%.
This is the interest rate of Absa TruSave in South Africa.
That is all we have for you on this subject and we will do our best to give you more details soon.