Standard Bank MoneyMarket Select Review for May 2024
Introduction
The Standard Bank MoneyMarket Select is a savings account offered by Standard Bank. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Standard Bank MoneyMarket Select and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Standard Bank MoneyMarket Select compare to other banks.
Invest in the tomorrow you deserve with competitive returns and have anytime access to your savings.
Standard Bank MoneyMarket Select highlights
last updated 1st May 2024 by Walter
- The Standard Bank PureSave offers interest rates 5.30% - 6.10% and accepts investments from R0
- The Standard Bank MoneyMarket Call Account offers interest rates 7.30% - 7.40% and accepts investments from R20,000
Standard Bank MoneyMarket Select
This table shows Standard Bank MoneyMarket Select's interest rates for a R100,000 and R250,000 investment in Standard Bank MoneyMarket Select versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R100,000 | 8.35% #9 out of 35 | 6.59% | + R 1,887 |
| R100,000 | 8.35% #9 out of 35 | 6.59% | + R 1,887 |
| R250,000 | 8.70% #9 out of 37 | 6.83% | + R 5,015 |
| R250,000 | 8.70% #9 out of 37 | 6.83% | + R 5,015 |
- 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 Standard Bank MoneyMarket Select.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R100,000 for 18+ | 8.35% | 6.59% | + 1,887 |
| R100,000 for 18+ | 8.35% | 6.59% | + 1,887 |
| R250,000 for 18+ | 8.70% | 6.83% | + 5,015 |
| R250,000 for 18+ | 8.70% | 6.83% | + 5,015 |
- 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 Standard Bank MoneyMarket Select.
You get a 8.7% interest rate at Standard Bank MoneyMarket Select for a R250,000 investment. The industry average for a savings account with a balance of R250,000 is 6.83%. Over one year you will earn R5,015 more in interest at Standard Bank MoneyMarket Select 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% |
