Today’s guide is about FNB business money on call interest rate in South Africa.
Interested in knowing how much interest your savings will earn after savings with an FNB business money on-call account?
You have come to the right place.
It is imperative to understand how much your savings get to earn before depositing the money to the account.
That way, you can know when the deposit is due and how much interest the savings gas earned.
The FNB business money on call is a kind of special savings account.
Unlike other savings accounts with a fixed deposit, you can access your funds in case of emergency or unforeseen expenses.
The bank claims will not impose penalties when you withdraw the savings, and you’ll be paid the interest accumulated before withdrawing the savings.
The account also supports the transfer of money and can schedule transfers.
More exciting, you can access your account anywhere through FNB online banking and the FNB South Africa banking App.
How Much Is FNB Business Money On Call Interest Rate
The interest rate your savings attract after depositing the money in FNB South Africa business money on call depends on the amount you deposit.
The interest is calculated annually, which means the more time you keep the account’s money, the more interest.
The bank stipulates in order to earn the interest; you have to maintain a minimum deposit of R5 000.
When your balance is less than the required amount, the account’s deposit will not earn interest.
For easier understanding, below is a table breaking down the interest rate per the amount you deposit in the FNB business money on-call account
|Amount||Interest (per annum)|
|R5 000 – R19 999||0.25%|
|R20 000 – R29 999||1.75%|
|R30 000 – R39 999||1.75%|
|R40 000 – R49 999||1.75%|
|R50 000 – R59 999||1.80%|
|R60 000 – R69 999||1.80%|
|R70 000 – R79 999||1.85%|
|R80 000 – R89 999||1.85%|
|R90 000 – R99 999||1.85%|
The interest rates above may not be huge compared to other savings accounts.
The reason is that with this account, you can access your funds anytime, unlike the fixed savings account.
Furthermore, you can use the account to carry other banking services like making transfers.
The flexibility of this account is immense.
Don’t keep that money you have not in use in your pocket deposit and withdraw whenever you need it and have earned even though not huge interest.
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