Many South Africans are still developing healthy financial and saving habits. One of the easiest ways to do this is by opening a fixed deposit.
First National Bank (FNB) is a leading South African banking institution that is at the forefront of innovative financial solutions to clients nationwide. Through its fixed deposit solutions, the bank provides an easy way for South Africans to invest securely and conveniently.
The FNB Restart Fixed Deposit Investment Account is a fixed deposit where you can reset your investment once, at a higher interest rate.
There are no monthly fees for maintaining the account.
What benefits are offered by the FNB Restart Fixed Deposit Investment Account?
A minimum opening deposit of R10 000 is required.
You have the ability to open and manage your account online. By signing up for FNB online banking you can monitor your investment at any time of the day.
Your original deposit and quoted returns are 100% guaranteed.
You have the benefit of earning a fixed interest rate. This way you can work out how much you can expect to earn over the duration of your investment.
Additional money may be added at maturity. This way, you can always ensure that you keep earning more on your investment.
You can get preferential rates on investments longer than 12 months, if you are older than 55 years of age.
FNB gives you control of your account, so you have the option to reinvest or transfer your interest to another account.
You can earn a maximum nominal interest rate of 7.95% over 13 months.
What do you need to qualify?
- Be a South African citizen
- Provide a valid South African ID
- Provide proof of residence
- Have the required opening deposit amount