Nedbank has launched a savings account that does not commit you to lengthy investment terms.
The Park-It investment account has an initial minimum investment term of 14 days. Thereafter, 24 hours' notice is required for withdrawals. This applies to initial and subsequent deposits.
Your savings benefit immediately from any interest rate increases. If interest rates fall, the lower rate takes effect only after 14 days.
The account has no upfront costs, commissions, administration fees or monthly charges.
You need a minimum deposit of R10 000 to open an account. Interest rates range from 11 to 11.55 percent a year, depending on the balance in your account.