According to research that was done in May 2009, Capitec Bank offers good interest rates. Actually in the banking sector it was proved that they offer the lowest bank charges. In the research two groups were used as examples the “starter outs” and the “family man” and each of these groups comprised of approximately 150 to 200 people. The responses were based on real people’s banking habits. For the first group with transactions between R3 000 and R5 000 and the second group to the value between R9 000 and R11 000. In the first category 22 transactions per month were used which included debit card purchases, cash withdrawals, stop and debit orders, balance enquiries and account payments. Using a Capitec Bank Global One facility the cost was R28.25 per month. For the second group with 23 transactions of the same type the cost was R39.00 per month. In the first group the next best in the banking sector was Standard Bank’s Classic Transactor Current Account which was R66.73 on a fixed monthly fee. In the second group the next best was FNB Smart Transmission Account at R59.55 on a pay as you use option.

Watch this video on why Capitec Bank is the best option in South Africa

In the ThinkMoney research about Capitec Bank offers good interest rates in May 2009, the net return on accounts was also calculated and this was based on the earned interest minus the bank charges which were paid. The Global One product of this Bank earned their clients a interest income of R252 per annum for the family man group. The next best option the FNB Smart Transmission Account showed a negative cost of R660. For the other group the starter outs an account at this bank would cost R79 per year which is the net cost – interest earned after the deduction of the fees. MTN MobileMoney account was the next best option and would cost R696 per annum. This is 780% higher than Capitec’s! This Bank’s CEO Riaan Stassen stated that it is their vision to use technology in a highly innovative way to keep banking costs low which will put them into a position to offer their clients the best affordable banking.

The above-mentioned research proved that this Bank always is committed to offer the lowest banking fees to their clients as well as the most positive interest rates on a credit balance to offset the costs. Their Global One account actually offers the lowest costs on the daily savings account. This includes: there is no charge for purchases made with a debit card, debit orders and stop orders for a fixed fee of R2.50 each, cash withdrawals done at retailers for R1 per transaction, at the Banks ATM’s it will be a fixed fee of R3.00 per transaction. It is also a great idea to open an account at this bank into which your monthly or weekly salary is being deposited and should you need a loan we advise you to take a look at the great options they offer their clients. There are special benefits if you are one of their existing customers too. For more details about the fact that Capitec Bank offers good interest rates we advise you to do more research online or to visit one of their branches in your vicinity.