About Fixed Deposit Investment Account

How to qualify for promotional rates

  • You can make a minimum investment of R 50 000
    AND
  • You are a South African citizen
    OR
  • You have a valid passport or permit

Fixed Deposit 10% promotion

How to qualify for normal rates

  • You can make a minimum investment of R 1 000
    AND
  • You are a South African citizen
    OR
  • You have a valid passport or permit

General terms and conditions

Shariah Banking

  • The Shari’ah Fixed Deposit is an investment offering that allows the client to invest their funds according to the tenets of the Shari’ah. This product operates in the same way as a normal Fixed Deposit. A lump sum will be invested for a fixed period of time (30 days to 5 years). The client does not receive interest but rather a share of profit. The bank and the client enter into a profit sharing agreement which is effected through a profit sharing ratio. What this means is that the bank will invest the clients funds in Shari’ah Compliant Assets. The profit that is made from this Asset is shared with the client in a pre-agreed profit sharing ratio. The product is based on the Shari’ah principle of Mudharabah.

    Minimum Deposit:
    R2000
    Criteria to Qualify:
    Compliance with the requirements of Financial Intelligence Centre Act (FICA)

Features and benefits

  • Interest is paid monthly, quarterly, annually, or on maturity
  • Note that once you have invested your funds, you can't add to your investment. If you have more money to invest you can always open another Fixed Deposit or a different investment account
  • If you are 55 years of age or older, or are a Standard Bank Consolidator customer, you qualify for an extra 0,50% per annum interest on an investment of 12 months or longer for balances under R 100 000
  • Fixed Deposit interest rates
What it costs
  • No management fees
  • Cash deposit fee
  • Early redemption fees if you access your funds early
How to apply
What you'll need
  • Your ID book

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