If you would like to start to save with FNB the first question in mind, how does an FNB South Africa Savings account work? It is a common question, and in this quick article, I’ll share with you more details about how FNB Savings Account Work.
First of all, the FNB savings account is meant exclusively for FNB customers who have an existing cheque account.
FNB savings account offers an opportunity to save for emerging and foreseen situations and save to invest in the future.
Savings accounts give you a place away from your regular banking needs to put your money.
Savings accounts often reward interest, in addition to keeping your money secure, so it helps to keep any unneeded funds in a savings account instead of collecting cash in your checking account, where it will earn small interest or nothing.
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FNB South Africa Savings Account features
So as to understand more about FNB savings accounts here the account features.
Savings earn interest
After opening, FNB savings account the amount you start saving attracts interest.
The interest rate you earn is calculated as per the amount you have saved.
More so, the rate is calculated per annum.
Here breakdown of FNB interest rate for either cheque or Easy account holders.
| Balance Band
|
Interest (per annum) |
| R1 – R19 999 | 2.00% |
| R20 000 – R24 999 | 2.25% |
| R25 000 – R74 999 | 2.95% |
| R75 000 – R99 999 | 3.05% |
| R100 000+ | 3.05% |
Instant access to the savings
In case you need your savings, you can access them immediately.
You can transfer the money to your cheque account then withdraw it to any of the FNB ATMs, through cellphone banking or the FNB banking APP.
Schedule savings time
It is easy to save with FNB as you can schedule when to transfer the savings either from a cheque or easy account to a savings account.
This way, you can save n more and consistently.
It is easy to make the schedule through the FNB banking app by login into the app and click Add and select the account with the savings to be drawn and the amount.
You can also call the FNB call center to request customer care to set the schedule by dialing 0860 327 827.
FNB Savings Account Is Free
There are no monthly fees charges after opening the FNB savings account.
There is also no limitation on the minimum amount to have on the account.
That is how the FNB South Africa Savings Account work.
