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PlusPlan is a convenient combination saving and transacting account. It is ideal for those who have simple transacting needs (no chequebook or overdraft) and want to earn interest on the credit balance they maintain in their account.
Funds are available immediately on demand, and you can deposit any amount at any time. Interest is paid on a tiered basis meaning that the interest rate steps up as the account balance increases so the more you save the more you earn.
For more information on interest rates click here.
To open a PlusPlan account, you will need:
- Your SA identity book and proof of your residential address
- A valid passport and valid residence permit or student visa if you are a foreign national
- A minimum account opening deposit of R500
Minors younger than 16 must be assisted by a parent or guardian when applying.
No credit reference checks are performed when opening a PlusPlan account. Proof of employment and salary confirmation are also not required. However,
- New Standard Bank customers need to declare the source of their funds, and
- All applicants have to consent to identity and fraud prevention checks and the sharing of information relating to their application through the South African Fraud Prevention Service.
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