Money Market Accounts South Africa
In South Africa, a money market account is a type of investment issued by some banks that is an alternative to a savings account or fixed deposit. Unlike a fixed deposit there is not a defined investment term, so funds can be invested into the products indefinitely and the rate of return may vary depending on the deposit balance. Also it will likely provide a lower rate of interest than a fixed deposit account and have a higher liquidity with quicker access to funds when required.
Compare Money Market Account Interest Rates in South Africa
|Deposit Account Type||Term||APY||Account Details|
|Nedbank Money Market Account||5.25%||Rate is applicable to the 'JustInvest' money market investment account product which require - ZAR - May, 2014||More Info|
|FNB Money Market Account||3.90%||The rate is applicable to the 'money market investor' product an - ZAR - Jul, 2014||More Info|