Capitec Bank has positioned itself as one of South Africa’s leading financial institutions by offering simple, accessible, and rewarding savings solutions. Whether you’re an individual saver or a business owner, Capitec provides a variety of savings plans tailored to your goals—offering competitive interest rates, flexibility, and seamless digital access.
This article provides a detailed overview of Capitec’s personal and business savings plans, highlighting their features, interest structures, and benefits.
Why Choose Capitec for Savings?
Capitec’s savings products are designed to help South Africans grow their money smartly and securely. The key benefits across all savings accounts include:
Competitive interest rates based on deposit amount and term.
No monthly fees on savings accounts.
Flexible access to funds depending on the product.
Full digital control through the Capitec banking app.
Tax-efficient savings options for long-term investment goals like retirement.
Let’s explore the specific savings plans Capitec offers.
Personal Savings Plans
Capitec’s personal savings plans are suitable for everyday savers, short-term planners, and long-term investors. These plans are structured to offer flexibility, access, or higher returns depending on your financial priorities.
1. Flexible Savings Account
Best For: Daily or short-term savers who want instant access to funds.
Key Features:
Instant access: No notice period for withdrawals.
Interest earned: From 2.25% (nominal annual compounded monthly).
Easy management: Fully operable via the Capitec app.
No minimum deposit: Start saving with any amount.
This account suits people looking to save for emergencies, monthly goals, or temporary cash reserves without sacrificing accessibility.
2. Fixed-Term Savings Plan
Best For: Long-term savers seeking guaranteed higher returns.
Key Features:
Higher returns: Interest rates increase with longer deposit terms.
Term options: Flexible periods ranging from 6 to 60 months.
Custom rates: Dependent on deposit size and duration.
Reinvestment options: Interest can be reinvested for compound growth.
Example of Fixed-Term Interest Rates (NACM):
Deposit between R10,000 and R74,999:
6 months – 7.15%
60 months – 7.60%
Deposit above R250,000:
6 months – 7.25%
60 months – 7.87%
Effective annual rates are higher due to monthly compounding—making this ideal for users aiming to preserve and grow their capital over time.
3. Live Better Savings Account
Best For: Savers using Capitec’s Live Better rewards programme.
Key Features:
High interest: Grow cashback savings with attractive rates.
Flexible use: Funds available at any time, no expiry on cashback.
Linked rewards: Earn better returns as you save more or transact more.
Live Better customers benefit from a savings structure that rewards positive financial behaviour, making it easier to build a habit of saving while enjoying rewards.
Business Savings Plans
Capitec Bank also supports entrepreneurs and companies with structured savings solutions to improve cash flow, earn interest, and maintain liquidity.
1. Business Flexible Savings Account
Best For: Businesses wanting easy access to funds while earning interest.
Key Features:
Tiered interest rates: Based on daily balances, starting from 2.25%.
No notice required: Instant access to funds.
Higher balances, better rates:
Balances over R1 million earn up to 7.23% effective annual interest.
No monthly fees: Save more with zero maintenance costs.
This account offers small and large businesses a simple, low-risk option to grow surplus cash while keeping funds accessible for operational needs.
2. 32-Day Notice Account
Best For: Businesses planning ahead and willing to wait for higher returns.
Key Features:
Advance notice: 32 days required to withdraw funds.
Higher interest rates: Compared to flexible savings options.
Interest handling: Option to reinvest or transfer interest.
Strategic planning tool: Ideal for managing seasonal cash flows or budgeting for large expenses.
The notice account helps businesses lock in interest while maintaining reasonable access to funds after a short waiting period.
Additional Benefits Across All Accounts
Capitec ensures every savings plan comes with user-friendly and rewarding features:
1. Digital Access and Control
All accounts are linked to Capitec’s mobile banking app, enabling:
Real-time savings transfers.
Interest tracking.
Quick access to statements and account updates.
Goal setting and budgeting tools.
2. Tax-Efficient Options
For individuals planning retirement or long-term investment, Capitec also offers:
Tax-Free Savings Account (TFSA):
Contribute up to R36,000 annually (subject to SARS limits).
Interest earned is completely tax-free.
This enables clients to save more efficiently while taking advantage of government incentives.
Which Savings Plan is Right for You?
Here’s a simplified guide to help you decide:
| Goal | Recommended Plan | Benefit |
|---|---|---|
| Instant access, short-term use | Flexible Savings Account | Withdraw anytime, still earn interest |
| Long-term fixed deposit | Fixed-Term Savings Plan | Lock funds for higher returns |
| Reward-based savings | Live Better Savings | Higher interest linked to rewards |
| Business liquidity | Business Flexible Savings | Interest with daily access |
| Business budgeting | 32-Day Notice Account | Better rates for planned withdrawals |
| Tax-free long-term saving | Tax-Free Savings Account (TFSA) | No tax on interest, dividends or capital gains |
Capitec Bank’s savings solutions are thoughtfully crafted to meet South Africans where they are—offering simple, accessible, and high-yield opportunities to save. Whether you’re an individual working toward financial independence or a business owner optimizing your cash flow, Capitec’s savings products offer a strong foundation for growth.
With interest rates that reward commitment, user-friendly digital tools, and transparent terms, Capitec ensures that every rand you save works harder for you.
Read also: Capitec Bank: How to Effortlessly Dispute Unauthorized Debit Orders
