Absa Cash Invest Tracker Review for May 2024
Introduction
The Absa Cash Invest Tracker is a savings account offered by Absa. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Absa Cash Invest Tracker and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Absa Cash Invest Tracker compare to other banks.
The Cash Invest Tracker account is linked to South Africa's prime lending rate and capital is guaranteed to grow.
Absa Cash Invest Tracker highlights
last updated 1st May 2024 by Walter
Absa Cash Invest Tracker
This table shows Absa Cash Invest Tracker's interest rates for a R0, R100,000 and R12,500,000 investment in Absa Cash Invest Tracker versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R0 | 0.00% #5 out of 5 | 2.83% | - R 0 |
| R0 | 0.00% #5 out of 5 | 2.83% | - R 0 |
| R100,000 | 8.90% #1 out of 35 | 6.59% | + R 2,482 |
| R100,000 | 8.90% #1 out of 35 | 6.59% | + R 2,482 |
| R12,500,000 | 9.05% #1 out of 33 | 6.66% | + R 320,751 |
| R12,500,000 | 9.05% #1 out of 33 | 6.66% | + R 320,751 |
- 1 industry average refers to the average interest rate across all other savings accounts for the given investment amount
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Absa Cash Invest Tracker.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R0 for 18+ | 0.00% | 2.83% | - 0 |
| R0 for 18+ | 0.00% | 2.83% | - 0 |
| R100,000 for 18+ | 8.90% | 6.59% | + 2,482 |
| R100,000 for 18+ | 8.90% | 6.59% | + 2,482 |
| R12,500,000 for 18+ | 9.05% | 6.66% | + 320,751 |
| R12,500,000 for 18+ | 9.05% | 6.66% | + 320,751 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Absa Cash Invest Tracker.
You get a 9.05% interest rate at Absa Cash Invest Tracker for a R12,500,000 investment. The industry average for a savings account with a balance of R12,500,000 is 6.66%. Over one year you will earn R320,751 more in interest at Absa Cash Invest Tracker compared to the average savings account.
Here are other similar savings accounts in South Africa which require a minimum deposit between R50,000 - R100,000
| Account | Min Deposit | Rate |
|---|---|---|
| FNB Money Maximiser | R100,000 | 8.25% |
| Standard Bank MoneyMarket Select | R100,000 | 8.35% - 8.70% |
| Absa Cash Invest Tracker | R100,000 | 0.00% - 9.05% |
| Nedbank MoneyTrader | R50,000 | 8.30% - 8.75% |
| Investec PrimeSaver Account | R100,000 | 7.95% - 8.15% |
