Investments
Compare Money Market Funds in South Africa
A money market unit trust is an investment portfolio of short-term instruments. It is not a bank savings account, and it is not covered by CODI.
Rates and account terms may change. Confirm the current details with the provider. Information checked 28 October 2026.
Before you compare
- A historical or seven-day yield is not a promise for the next year. None is printed here, because the October 2026 fact sheets were a gap in the current fact sheets.
- Allan Gray's cited document is a February 2026 fact sheet. It is labelled as that, and no yield was copied from it.
- Fees include a fund charge and sometimes a platform charge. A missing fee is left blank. It is not shown as zero.
Compare providers
Each card uses the product published for this page. A missing rate or fee is left blank. It is not shown as zero. The button opens the provider's own website.
3 of 3 products. A product stays in the list when its minimum is not published. It is removed only when a published minimum is above the amount you enter. Rates are not sorted from highest to lowest.
Allan Gray Money Market Fund
Money market unit trust
An investment fund. The unit price can move, and the yield is not a bank deposit rate.
- Published yield
- Check the current rate with the provider
- Minimum deposit
- Confirm with the fund
- Withdrawal
- Fund redemption terms
No single current rate is shown. Confirm it with the provider.
Charges. Published fund fees require verification
Advantages
- Short-dated local instruments
- Clear risk disclosure
Considerations
- Can lose capital after underlying default
- Not deposit insured
Not a bank deposit. Not covered by CODI.
Information checked 28 October 2026. Fact sheet dated February 2026. No yield was copied from it.
Money Market Fund
Money market unit trust
An investment fund. The unit price can move, and the yield is not a bank deposit rate.
- Published yield
- Check the current rate with the provider
- Minimum deposit
- Confirm with the fund
- Withdrawal
- Investor redemptions subject to dealing terms
No single current rate is shown. Confirm it with the provider.
Charges. Fund management/platform fees apply as disclosed
Advantages
- Diversified short-dated instruments
- Published factsheets
Considerations
- Capital not guaranteed
- Fee-adjusted returns fluctuate
Not a bank deposit. Not covered by CODI.
Information checked 28 October 2026. Confirm the current rate with the provider.
STANLIB Money Market Fund
Money market unit trust
An investment fund. The unit price can move, and the yield is not a bank deposit rate.
- Published yield
- Check the current rate with the provider
- Minimum deposit
- Confirm with the fund
- Withdrawal
- Fund redemption terms
No single current rate is shown. Confirm it with the provider.
Charges. Management/platform fees vary
Advantages
- Money market fund benchmark and documents published
Considerations
- Not CODI insured
- Capital loss possible
Not a bank deposit. Not covered by CODI.
Information checked 28 October 2026. Confirm the current rate with the provider.
Compare selected products
Choose up to three products on this page. This view does not rank a highest rate, and it does not treat a bank deposit, a unit trust and a government bond as the same product.
No products selected.
Estimate how your savings could grow
Type your own amount and rate. A product card does not fill these fields, because a published range is not the rate on your balance.
How this product works
Yield is not a deposit rate
Fund yields and bank nominal rates answer different questions. This page does not line them up as if they were the same measure.
Getting money out
You redeem units on the fund's dealing terms. That can include a cut-off time and a settlement wait. It is not the same as an immediate bank transfer.
What can go wrong
The yield moves. Fees reduce it. If an instrument in the portfolio defaults, the fund can lose value. That is a risk of the fund, not of a bank deposit.
Are these savings protected?
The Corporation for Deposit Insurance, within the South African Reserve Bank, can protect qualifying depositors up to R100 000 of positive balances in qualifying products if their bank is placed in resolution. The cap is per qualifying depositor per bank, including interest that falls inside that balance, not per account. It does not cover money market unit trusts. It does not cover RSA Retail Savings Bonds. Each card says which of those descriptions applies.
Tax on savings interest
SARS's interest and dividends page, checked on 28 October 2026, shows a South African interest exemption for the 2027 year of assessment of R23 800 if you are under 65 and R34 500 if you are 65 or older. Interest above that can be taxable. The page says the 25 February 2026 budget made no change to those amounts. Money market fund distributions are not automatically taxed in the same way as bank interest. A tax-free savings account is a different product, with a R46 000 annual contribution limit and a R500 000 lifetime limit from 1 March 2026. This is general information, not tax advice.
How WiT Money compares these products
Each page keeps its own products. A bank savings rate is not lined up with a money market fund yield or an RSA Retail Savings Bond coupon. A missing rate stays blank.
Nothing is sorted as the highest rate or the best account. The default order is the provider name. A listed product is not a recommendation. No provider is paying for a placement. The button opens the provider's website.
Bank deposits, unit trusts and government bonds stay in separate groups. CODI is described only for a qualifying bank deposit.
How we compare · How we make money · Editorial guidelines · Corrections
Questions
Questions readers ask
Is a money market fund the same as a bank money market account?
No. Nedbank's money market account on this site is a bank deposit and sits with the savings accounts. The three funds on this page are unit trusts.
Why is there no yield on the card?
The published comparison says to check the latest fact sheet and not to quote an unsourced yield as a deposit rate. A yield is not shown unless it comes from a current fact sheet.
Does CODI cover these funds?
No. CODI covers qualifying bank deposits. A money market unit trust is not one of those deposits.
Other savings pages
Sources
Page updated 28 October 2026. A source date is the day WiT Money checked that page, not a promise the institution has not changed it since.
- South African Reserve Bank
South African Reserve Bank · checked 28 October 2026
- Deposit insurance (CODI)
South African Reserve Bank · checked 28 October 2026
- Interest and dividends
South African Revenue Service · checked 28 October 2026
- Tax-free investments
South African Revenue Service · checked 28 October 2026
- RSA Retail Savings Bonds
National Treasury · checked 28 October 2026