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Capitec’s Fixed Term Savings Account is designed to provide you with a safe and lucrative savings option, with a variety of term lengths to choose from. It is  designed to secure your savings for a predefined period while offering a dependable interest rate for the entire duration. Think of it as a locked money box: you deposit your funds and commit not to access them for a specified time, which can range from one year to several years. In return, the bank rewards your commitment by adding extra funds in the form of interest. The longer your funds remain locked, the more favorable the interest rate, though this can vary between financial institutions.

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Capitec Fixed Term Savings Account

Capitec Fixed Account allows you to invest for periods ranging from 6 to 60 months. Once your initial deposit starts accumulating interest, you have the flexibility to make a choice. You can either reinvest the earned interest, maximizing your potential returns, or transfer it to your primary savings or transactional account, giving you the freedom to utilize the additional funds as you see fit.

Withdrawing Your Capitec Fixed Term Savings Account Before Maturity

Withdrawing from your Capitec Fixed Term Savings Account before the maturity date is possible if circumstances require it. Here’s a step-by-step guide on how to proceed:

  1. Assess the Need: Evaluate your financial situation and determine if there is a compelling reason to withdraw funds from your Fixed Term Savings Account before maturity.
  2. Contact Capitec: Reach out to Capitec’s Client Care Centre at 0860 10 20 43 to discuss your intent and inquire about the associated fees for early unlocking. Capitec’s expert staff will provide guidance and information.
  3. In-Person Visit: Alternatively, you can visit your nearest Capitec branch. This allows for a face-to-face discussion about your unique financial goals and the process of unlocking your savings.
  4. Fee Consideration: Be aware that unlocking your Fixed Term Savings Account prematurely incurs an administration fee, which may vary. The bank’s representatives will provide details on the specific fee applicable in your case.
  5. Make an Informed Decision: With the guidance from Capitec’s team and a clear understanding of the potential fees, you can make an informed decision that aligns with your financial objectives.

In Conclusion:

Your Capitec Fixed Term Savings Account provides a secure and rewarding way to grow your savings over a defined period. While the commitment to keeping your funds locked ensures attractive interest rates, Capitec understands that life’s circumstances can change. If you ever find yourself needing to unlock your savings before maturity, rest assured that Capitec offers a solution, albeit with a minimal administration fee. Feel free to reach out to Capitec’s Client Care Centre or visit a branch to discuss your unique financial goals. Your financial well-being is a priority, and Capitec is here to support you every step of the way.