FNB Money Market Investor Interest Rate
About the FNB Money Market Investor Account
This account requires a minimum deposit of R10 000. Individuals can benefit from this type of savings accounts and the interest that can be earned on these savings.
With an account like the FNB Money Market Investor, individuals can be assured that their capital is secure. They can also access the funds relatively easily without too much hassle.
Studies have shown that some of the most common reasons that people save include: emergencies, retirement and for children’s education.
More about the FNB Money Market Investor interest Rate:
- From R10 000 to R19 999 1%
- From R20 000 to R49 999 2.8%
- From R50 000 to R99 9992.9%
- R100 000 and higher3.40%
Some of the benefits offered by the FNB Money Market Investor:
You can get immediate access to money, whenever you need to access extra funds.
Interest rates are tiered based on the amount invested.
You get to benefit from competitive interest rates paid on balances of R10 000 or more
There are no monthly fees to pay.
You can add money at any time. A high interest savings account can also be a great place to keep and grow your emergency fund.
You can make unlimited withdrawals.
You have the ability to make third party payments.
The Money market offers an alternative to higher-risk investments. Started in South Africa in 1995, this option pays higher interest and has a higher minimum balance requirement than savings accounts.
Aneesa Razack, head of strategic growth at FNB Savings and Investments has said: “By starting to save early in your life you not only enjoy the benefit of earning interest on interest (compound interest) but you also steer clear of incurring unnecessary debt when it comes to emergencies.”
