Bonus plus

Bonus plus is perfect for savers who need some discipline. With this account you commit to saving a set amount every month for a set period, but you decide how much you can afford to save and for how long.

Features and benefits

Features

  • The Bonus plus account is subject to signing a minimum stop order per month. You must have a transaction account at Standard Bank to fund your stop order
  • The minimum investment period is 12 months and a maximum period of 36 months
  • You can open more than one Bonus plus account, which is ideal if you want to save separately for different goals
  • There are no transaction fees charged to the account. However, a redemption fee will be charged for early withdrawals
  • An early redemption fee also applies if the account is closed prior to the maturity date
  • You can choose to have your debit order amount automatically increased each year
  • You do not have to withdraw the funds or stop deposits at maturity

Benefits

  • Interest is calculated on a daily basis and compounded monthly. The interest rate is fixed
  • You will not be charged a debit order fee if your monthly payment is from a Standard Bank account
  • You earn a competitive interest rate and an additional bonus interest after every year for up to 36 months
  • Bonus interest is paid annually. The rate of bonus interest is calculated on the interest accrued figure
  • Bonus interest increases each year, so the longer you save the higher the bonus interest you can earn

 


 
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