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Postbank Account Opening for Smart Save & Minors

Name of the Organization : Postbank
Type of Facility : Account Opening for Smart Save & Smart Save for Minors
Location : Bloemfontein

Website : https://www.postbank.co.za/Products/Savings/index.html

Postbank Account Opening for Smart Save & Minors

Smart Save Account Opening Procedure :
** Smart Save is one of South Africa’s favourite Savings accounts and has been since its inception.
** With over 1.4 million Smart Savers this is the best Savings account on offer.

Related : Postbank Bakgotsi Account Opening Procedure : www.southafricain.com/3672.html

Benefits of Smart Save

** Record all your transactions with a Savings book
** A minimum of R50 is required to open the Smart Save account
** Save what you want when you want
** Withdraw from any Post Office Retail branch
** All normal cheque deposits are free
** Keep your money safe.

Make it work for you :
** The Smart Save account works best if you have some money you want to put away safely but know you will need access to it in the near future.
** Cheque deposits are free; however, you need to avoid special clearances as this can be an expensive process. Be Smart and Save.

How to Apply

** You can apply at your nearest Post Office.
** All you need is your ID document and a proof of residential address in order to comply with Financial Intelligence Centre Act

Smart Save Fees and Interest

Fees :

Account opening feeFree
Minimum opening depositR 50.00
Minimum account balanceR 0.00
Deposits (Cash)R 1.62 up to R199.99, thereafter an additional R1.90 per R100.00 or part thereof above R199.99.
Deposits (Cheque)Free
Dishonoured ChequeR 69.23
Special clearance of cheque depositsR 77.11
Withdrawals (cash) BranchR 10.04
Withdrawals (cheque) BranchR 38.02
Monthly Account MaintenanceFree
Replacement: Lost Smart Save BookR 85.86
Account Dormancy feeFree
Repayment from unclaimed fundsR 78.30
Full Statement (Counter)R 8.75
Full Statement (ad-hoc mailed on request)R 10.80
Mini statements and balance enquiries (Branch)Free

Interest :

On balance (Rand)Interest Rate (% pa)
0 – 500.35%
50.01 – 5 0001.00%
5 000.01 – 15 0001.40%
15 000.01 – 25 0001.85%
25 000.01 – plus3.65%

Smart Save Minors

** Smart Save for minors is a Savings account designed for scholars and children under 16 years.
** This is an ideal, safe and easy way to start saving for your child’s future.

Benefits of Smart Save for Minors :
** Record all your transactions with a Savings book
** A minimum of R10 is required to open the Smart Save for Minors account
** Open to all minors under 16 years of age
** Keep your money safe
** Withdraw from any Post Office retail branch nationally
** Save what you want when you want
** Normal cheque deposits are free

Make it work for you :
** The Smart Save for Minors account works best if you have some money you want to put away safely but know you will need access to it in the near future.
** Cheque deposits are free into this account, however, you need to avoid special clearances as this can be a more expensive process. Be Smart and Save

How to Apply :
** You can apply at your nearest Post Office.
** All you need is your Birth Certificate, Parent/Guardian’s ID and if you are a minor one of your Parents/Guardian must accompany you.
** Parents/Guardian may also need to provide proof of residential address in order to comply with the Financial Intelligence Centre Act (Fica).

Smart Save for Minors Fees and Interest :
Fees :

Account opening feeFree
Minimum opening depositR10.00
Minimum account balanceR 0.00
Deposits (Cash)R 1.09 up to R199.99, thereafter an additional R1.52 per R100.00 or part thereof above R199.99.
Deposits (Cheque)Free
Dishonoured ChequeR 69.23
Special clearance of cheque depositsR 77.11
Withdrawals (cash) BranchR 7.99
Withdrawals (cheque) BranchR 38.02
Monthly Account MaintenanceFree
Replacement: Lost Smart Save BookR 85.86
Account Dormancy feeFree
Repayment from unclaimed fundsR 78.30
Full Statement (Counter)R 8.75
Full Statement (Mailed on request)R 10.80
Mini statements and balance enquiries (Branch)Free

Interest :

On balance (Rand)Interest Rate (% pa)
0 – 500.35%
50.01 – 5 0001.00%
5 000.01 – 15 0001.40%
15 000.01 – 25 0001.85%
25 000.01 – plus3.65%

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