More people are looking for flexible ways of saving money and earning good interest rates in the process. One way of doing this is by opening a fixed deposit. Statistics have also shown that a new generation of income investors dislikes rigid or restrictive product design. A key demand is for lower investments as well as flexibility. Today’s banking customer expects the option to have a choice.
This is something which Bidvest Bank has realised and continues to offer through its various banking solutions. One such solution is the Bidvest Fixed Deposit.
What is a fixed deposit?
A fixed deposit is an amount of money you save that cannot be accessed until maturity and no additional funds may be added to this investment. Various institutions have different options for fixed deposit types.
Interest can be capitalised or withdrawn on demand, however, withdrawal of the deposit before maturity is not allowed.
Once the fixed deposit amount has matured, clients will have earned a significant amount of interest and will have the freedom to use the money however they please.
Tell me more about the Bidvest Fixed Deposit?
The Bidvest Fixed Deposit is offered for a fixed period of time and it allows individuals to earn higher rates of interest on their investment.
Investment terms range between 1 and 12 months, while early withdrawals are charged at a fee.
Monthly interest can be paid into a nominated account or transferred into a Call Account.
The Bidvest Fixed Deposit also offers extra benefits for pensioners.
You can earn the following interest rates:
7.24% for 3 months
7.94% for 6 months
8.09% for 9 months
8.41% for 12 months
Bidvest Bank has over 100 branches nationwide and is a niche bank servicing individuals and businesses. The institution also specialises in money management. Bidvest is a leading financial services provider. Through all of its operations, the bank ensures that criteria prescribed by the National Credit Act apply.