Savings and deposits
Compare Savings Accounts in South Africa
Compare South African savings accounts, interest rates, minimum deposits, account fees and access to your money. Understand the terms before choosing where to save.
Rates and account terms may change. Confirm the current details with the provider. Information checked 28 October 2026.
Before you compare
- Immediate access is stated only where the published account is immediate or on demand. Other savings products on this site need notice or a term.
- A nominal rate and an effective annual rate are different. Interest that compounds monthly produces a higher effective rate than the nominal figure.
- A monthly fee can use up the interest on a small balance. Where the published comparison does not state a rand fee, no fee is 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.
8 of 8 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.
- Interest rate
- 7.05%–7.75% by balance, Sep 2026
- Minimum deposit
- R100 000
- Access
- Immediate
The provider published a range. It is not one rate for every balance or term.
Charges. No monthly management fee reported
Advantages
- Immediate access
- Rate tiers disclosed
Considerations
- R100,000 normal minimum
- Rate varies
- Private-bank exception
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. rates last reviewed 25 September 2026
- Interest rate
- Up to 7.75% advertised
- Minimum deposit
- R50
- Access
- Immediate
This is an advertised maximum. It is not the rate on every balance.
Charges. Check transaction charges
Advantages
- Low opening deposit
- Immediate access
Considerations
- Maximum rate may require larger balance
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
- Interest rate
- 2.00%–6.25% indicative range
- Minimum deposit
- Confirm with the bank
- Access
- Immediate
The provider published a range. It is not one rate for every balance or term.
Charges. No early-access fee
Advantages
- Up to 10 goals
- Flexible deposits
Considerations
- Rate depends on balance
- Variable
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Demand Savings Account
Bank savings account
A deposit at a bank. The rate can depend on the balance.
- Interest rate
- 4.50% nominal annual compounded monthly
- Minimum deposit
- Confirm with the bank
- Access
- Immediate
Published figure. Confirm it still applies before you open the account.
Charges. No monthly fee; EFT R15 on published fee page
Advantages
- No monthly fee
- Immediate access
Considerations
- Some transfers cost extra
- Check eligibility
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Cash Intelligence Investment
Bank savings account
A deposit at a bank. The rate can depend on the balance.
- Interest rate
- Check the current rate with the provider
- Minimum deposit
- R20 000
- Access
- Check account withdrawal terms
No single current rate is shown. Confirm it with the provider.
Charges. Verify transactions/fees
Advantages
- Documented minimum
- Daily calculation monthly capitalisation
Considerations
- Rates fluctuate
- Access needs confirmation
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
- Interest rate
- 4.75%–6.25% indicated
- Minimum deposit
- R0 opening amount published
- Access
- Immediate
The provider published a range. It is not one rate for every balance or term.
Charges. Zero monthly fee indicated
Advantages
- No opening minimum
- Easy access
Considerations
- Rate changes
- Tiered terms
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Money Market Account (deposit)
Bank savings account
A deposit at a bank. The rate can depend on the balance.
- Interest rate
- 5.50%–6.75% indicated
- Minimum deposit
- R20 000
- Access
- On demand
The provider published a range. It is not one rate for every balance or term.
Charges. R40 monthly fee shown in product page
Advantages
- On-demand availability
- Bank deposit product
Considerations
- R20,000 minimum
- Monthly charge
- Not a unit trust
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
- Interest rate
- Up to 4.40% advertised
- Minimum deposit
- R0 opening amount published
- Access
- Immediate
This is an advertised maximum. It is not the rate on every balance.
Charges. Zero monthly admin fee; transaction charges possible
Advantages
- R0 minimum
- Cash access
- Bank functionality
Considerations
- Not necessarily highest yield
- Transactions subject to terms
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
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
What you are comparing
A savings account here is a deposit at a bank. It is not a money market unit trust and it is not an RSA Retail Savings Bond.
Balance bands
Several rates are ranges. The lower figure can be the one that applies to a small balance. The card says when a figure is only an advertised maximum.
Deposit insurance
Qualifying deposits at a member bank can fall under CODI, up to R100 000 per qualifying depositor per bank, if that bank is placed in resolution. The cover is not per account, and it is not automatic for every product a bank sells.
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 every savings account available the same day?
No. This page includes accounts the published comparison describes as immediate. Notice and fixed products are on their own pages, even when a bank also calls them savings.
Why is a rate shown as a range?
The provider published a band, often by balance. WiT Money does not pick one number out of that band and call it your rate.
Does a higher rate mean the account is protected?
Protection depends on whether it is a qualifying bank deposit, not on the size of the rate. Unit trusts and government retail bonds are not CODI 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