With a notice account, when it comes to wanting to access your funds you are required to provide 32 business days’ notice. If you need to withdraw before the 32 day period, a penalty fee usually applies.
There are no monthly fees that apply and these accounts often come with higher interest rates, which is ideal for savers.
32 day notice accounts are savings fixed deposit accounts. Widely regarded as one of the best known ways to save, these types of accounts are easily accessible.
Some have a minimum deposit and others have a minimum account balance.
Essentially, they are investment accounts where your money earns interest. Fixed deposits are one of the best known ways to save. Depending on how much you deposit into your 32 day notice account, you can earn quite significant returns on your investment.
Standard Bank is a leading banking institution with a 150-year history in South Africa- making it one of the oldest banks in the country. In recent years the bank has also expanded its services to another 18 countries on the African continent.
The bank offers a range of services including transactional services, loans, credit cards, and various investment options.
The Standard Bank Notice Deposit Account allows you to access your funds after a fixed period. You have the option to add money whenever you want and you will earn competitive interest rates.
More about the Standard Bank Notice Deposit Account:
- Interest is calculated on your daily balance, paid monthly and can be re-invested.
- The Standard Bank Notice Deposit Account has a 32 day fixed notice period.
- You have the option to link a Standard Bank Autobank card.
- There are no monthly fees.
- You have the flexibility of performing simple transactions on your account.