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Savings Account
As its name suggests, the purpose of a savings account is to create a nest egg, either for luxuries or for emergencies. Plus you have the flexibility of using your savings account as a multifunctional transactional account and the convenience of accessing it at a branch or electronically.
Charges for frequently used savings account services
Cash deposit: over the counter and ATM
First two cash deposits per charges cycle are free.
Deposits of N$500.00 or less are N$1.25 per N$100.00 or part thereof.
Deposits over N$500.00 are N$1.60 per N$100.00 or part thereof, or with a minimum service fee of N$15.00.
Cash withdrawal: over the counter
N$20.00
Electronic stop order
Initiation fee – N$11.00
Amendment fee – N$11.00
Cancellation fee – N$11.00
Fee per debit – N$10.00
Card replacement / Damaged or Lost
N$45.00 for first replacement. Thereafter, N$65.00 for additional replacements.
Statement
Statements are free.
Experiencing the value of your savings account
Your Nedbank savings account offers you the following value-added benefits:
- The flexibility of accessing funds when you need them, and using your account to pay bills electronically
- A higher interest rate on your funds
Please note: All fees include 15% VAT.
As an alternative to over-the-counter transactions, you can use Nedbank’s digital banking facilities. These are particularly cost effective because the charges are often cheaper and, in some cases, free, provided you maintain a balance of at least N$1,000.00 in your account.
Charges for frequently used savings account digital services
| Charges for frequently used savings account digital services |
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Minimum monthly balance |
Minimum monthly balance |
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less than N$1, 000.00 |
of N$1,000.00 or more |
| CashPoint ATM |
| transaction and services |
| Cash withdrawal |
N$5.25 |
N$4.25 |
| Saswitch ATM's |
Interbank processing fee of N$8.80, plus N$4.25 if balance is more than N$1,000.00 |
Interbank processing fee of N$8.80 plus N$5.25 if balance is less than N$1,000.00 |
| Balance enquiry |
Free |
Free |
| Mini statement |
Free |
Free |
| Self-service terminal facilities |
| Electronic account payment |
Free |
Free |
| Statement |
Free |
Free |
| Electronic account payment |
| Balance of less than N$1 000,00 |
N$3.50 |
| Balance of more than N$1 000.00 |
Free |
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| Monthly subscription |
N$25.00 |
N$25.00 |
| Fax Statement |
N$20.00 per page |
N$20.00 per page |
| Please note: All fees include 15% VAT. |
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