Standard Bank PureSave Review for May 2024
Introduction
The Standard Bank PureSave 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 PureSave 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 PureSave compare to other banks.
Convenient. You can save and transact with the same account. Full control of your savings with a no debit order account. There is no minimum opening balance.
Standard Bank PureSave highlights
last updated 1st May 2024 by Walter
- The Standard Bank MoneyMarket Select offers interest rates 8.35% - 8.70% and accepts investments from R100,000
- The Standard Bank MoneyMarket Call Account offers interest rates 7.30% - 7.40% and accepts investments from R20,000
Standard Bank PureSave
This table shows Standard Bank PureSave's interest rates for a R0, R1,000, R10,000, R20,000 and R100,000 investment in Standard Bank PureSave versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R0 | 5.30% #1 out of 5 | 2.83% | - R 0 |
| R0 | 5.30% #1 out of 5 | 2.83% | - R 0 |
| R1,000 | 5.80% #12 out of 23 | 4.81% | + R 10 |
| R1,000 | 5.80% #12 out of 23 | 4.81% | + R 10 |
| R10,000 | 5.80% #12 out of 23 | 4.82% | + R 103 |
| R10,000 | 5.80% #12 out of 23 | 4.82% | + R 103 |
| R20,000 | 5.95% #16 out of 31 | 5.21% | + R 155 |
| R20,000 | 5.95% #16 out of 31 | 5.21% | + R 155 |
| R100,000 | 6.10% #25 out of 35 | 6.59% | - R 517 |
| R100,000 | 6.10% #25 out of 35 | 6.59% | - R 517 |
- 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 PureSave.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R0 for 18+ | 5.30% | 2.83% | - 0 |
| R0 for 18+ | 5.30% | 2.83% | - 0 |
| R1,000 for 18+ | 5.80% | 4.81% | + 10 |
| R1,000 for 18+ | 5.80% | 4.81% | + 10 |
| R10,000 for 18+ | 5.80% | 4.82% | + 103 |
| R10,000 for 18+ | 5.80% | 4.82% | + 103 |
| R20,000 for 18+ | 5.95% | 5.21% | + 155 |
| R20,000 for 18+ | 5.95% | 5.21% | + 155 |
| R100,000 for 18+ | 6.10% | 6.59% | - -517 |
| R100,000 for 18+ | 6.10% | 6.59% | - -517 |
- 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 PureSave.
You get a 6.1% interest rate at Standard Bank PureSave for a R100,000 investment. The industry average for a savings account with a balance of R100,000 is 6.59%. Over one year you will earn R517 less in interest at Standard Bank PureSave compared to the average savings account.
Here are other similar savings accounts in South Africa which require a minimum deposit between R0 - R10,000
| Account | Min Deposit | Rate |
|---|---|---|
| AfricanBank Power Pocket | R1 | 1.00% |
| AfricanBank MyWorld | R1 | 1.00% |
| AfricanBank Savings Pocket | R1 | 7.00% |
| Capitec Savings | R0 | 3.20% - 7.15% |
| FNB Linked Savings | R1 | 7.05% - 7.80% |
| Standard Bank PureSave | R0 | 5.30% - 6.10% |
| Discovery Demand Savings Account | R10,000 | 3.50% |
| Bidvest Bank Call Account | R1,000 | 4.20% - 6.20% |
| Nedbank Just Invest | R500 | 7.05% - 8.75% |
| TymeBank GoalSave | R1 | 7.00% |
