Capitec offers some of the most competitive savings rates in South Africa through its Global One account. Whether you are saving R500 or R50,000 a month, here is exactly what you will earn in 2026.
Capitec Global One Savings Rates
Capitec uses a tiered interest rate system. The more you save, and the longer you commit, the higher the rate:
| Savings Type | Rate (approx.) | Minimum | Access |
|---|---|---|---|
| Flexible Savings | 6.0% to 7.5% | No minimum | Withdraw anytime |
| Fixed Savings (6 months) | 8.0% to 9.0% | R10,000 | Locked for term |
| Fixed Savings (12 months) | 9.0% to 10.5% | R10,000 | Locked for term |
| Fixed Savings (24 months) | 9.0% to 10.0% | R10,000 | Locked for term |
| Tax-Free Savings | 8.5% to 10.0% | R1 | Withdraw anytime (limits apply) |
Note: Rates change with the repo rate. Check the Capitec app or website for the latest rates. The rates above are indicative based on the current interest rate cycle.
How Capitec Interest Is Calculated
Capitec calculates interest daily and pays it monthly into your savings account. This means you earn compound interest, where your interest earns interest. The formula is simple: the longer you leave your money, the faster it grows.
What Will R500 Per Month Grow To?
If you save R500 per month in a Capitec flexible savings account at 7% interest:
- After 1 year: Approximately R6,230
- After 3 years: Approximately R20,100
- After 5 years: Approximately R36,200
- After 10 years: Approximately R87,500
Capitec Tax-Free Savings Account
This is one of the best savings options in South Africa. You pay no tax on the interest earned, up to R36,000 per year (R500,000 lifetime limit). Capitec’s tax-free savings account offers competitive rates and you can open one directly on the app.
For someone in the 25% tax bracket, a tax-free account earning 9% effectively gives you the same return as a taxable account earning 12%. That is a significant difference over time.
Capitec vs Other Banks: Savings Rate Comparison
| Bank | Flexible Rate | 12-Month Fixed | Tax-Free |
|---|---|---|---|
| Capitec | 6.0% to 7.5% | 9.0% to 10.5% | 8.5% to 10.0% |
| TymeBank | 4.0% to 6.0% | 9.0% to 10.0% | 9.0% to 10.5% |
| FNB | 4.5% to 6.0% | 7.5% to 9.0% | 7.0% to 8.5% |
| Absa | 4.0% to 5.5% | 7.5% to 9.0% | 7.0% to 8.5% |
| Standard Bank | 4.0% to 5.5% | 7.5% to 8.5% | 7.0% to 8.0% |
Capitec and TymeBank consistently offer the best savings rates in South Africa because they have lower overhead costs than traditional banks.
Tips to Maximise Your Capitec Savings
- Set up an automatic monthly transfer on payday so you save before you spend
- Use the tax-free savings account first before regular savings
- Lock money into fixed savings if you do not need it for 6 to 12 months
- Do not withdraw interest, let it compound
- Split your savings: emergency fund in flexible, long-term in fixed