Absa Notice Select (Previously 32 Day Notice)

With a low minimum opening deposit of R1,000, tiered interest rates that grow with your balance, no monthly management fee, and an additional Digital Bonus Rate for digital account holders, it is one of the more accessible and versatile notice accounts available in South Africa.

Tip: Use a budget calculator to confirm you can leave most of your deposit in place for the duration of the notice period.

Quick summary

The Absa Notice Select bridges the gap between an instant-access savings account and a fixed deposit. You earn better interest than a typical savings account by committing to a notice period, but retain flexibility through the 50% immediate access feature.

The Digital Bonus Rate rewards clients who manage their account digitally, and the absence of a monthly fee makes it cost-effective at any balance level. The key trade-off is the early withdrawal fee that applies if you need more than 50% of your funds before serving the required notice period.

Absa Notice Select: key details and fees

Important notes

• Interest rates are variable, tiered, and linked to the South African prime lending rate.
• The Digital Bonus Rate is forfeited for any month in which a transaction is performed in branch.
• Interest is not earned on balances below R1,000.
• Early withdrawal fees apply to funds withdrawn before the required notice period has elapsed.
• Interest earned is taxable income and must be declared in your annual SARS tax return.

Key features and benefits

Choose your own notice period

The defining feature of the Absa Notice Select is that you set the notice period that suits your savings goals. You can choose between 7-day, 15-day, 32-day, or 45-day notice options.

Up to 50% immediate access

You can access up to 50% of your balance at any time without giving notice. This gives savers the discipline and interest benefit of a notice account, with a safety valve for genuine emergencies.

Tiered interest rates

Interest rates are tiered based on your balance. The more you save, the better the rate you may earn. Interest is calculated daily on qualifying balances of R1,000 or more and capitalised monthly.

Digital Bonus Rate

Absa pays an additional Digital Bonus Rate to clients who open and manage their account through digital channels, including the Absa Banking App, Absa Online Banking, or the call centre.

No monthly management fee

The Absa Notice Select carries no monthly management fee, meaning your balance is not eroded by monthly administration charges.

Flexible deposits and recurring transfers

You can deposit funds at any time, with no upper limit or restrictions on additional deposits. You can also set up a recurring monthly transfer of R250 or more.

Who should consider this account?

This account may suit you if you:

• Have R1,000 or more to save.
• Want to earn more than a standard savings account without committing to a fixed deposit.
• Want access to up to 50% of your balance at any time.
• Are comfortable managing your account digitally.
• Want a no-fee savings vehicle that earns higher rates as your balance grows.

This account may not suit you if you:

• Need instant access to your full balance at any time.
• Are looking for the highest possible interest rate and can lock your funds away completely.
• Are likely to need more than 50% of your savings before the notice period ends.
• Prefer to transact in branch and may regularly forfeit the Digital Bonus Rate.
• Want tax-free interest growth.

JustMoney insight: The Absa Notice Select is best understood as a middle-ground product: better rates than a savings account, more flexibility than a fixed deposit.

What to check before you open an account

Choose the right notice period

Before opening the account, be honest about when you might need access to the full balance. The 32-day notice period is a popular middle-ground option, while the 45-day option may offer a better rate if you do not need urgent access.

Understand the Digital Bonus Rate rules

The Digital Bonus Rate can add value, but it requires digital account management. If you perform qualifying transactions in branch, you may lose the bonus rate for that month.

Understand the early withdrawal fee

Early withdrawal fees apply when you withdraw more than 50% of your balance without serving the required notice period. Confirm the fee with Absa before making an early withdrawal.

Compare your savings options

Compare the Notice Select against other savings products, including fixed deposits, instant-access savings accounts, tax-free savings accounts, and other South African notice accounts.

Frequently asked questions

What is the minimum deposit for the Absa Notice Select?

The minimum opening deposit is R1,000. Interest is only calculated on balances of R1,000 or more, so if your balance falls below this threshold, no interest is earned for that period.

Can I access my money before the notice period ends?

Yes. Up to 50% of your balance is accessible immediately at any time without notice or penalty. For the remaining balance, you must give the required notice.

How does the Digital Bonus Rate work?

The Digital Bonus Rate is an additional interest rate paid on top of your standard tiered rate for any month in which you open and manage your account through digital channels.

How do I give notice to withdraw my funds?

To give notice on your Notice Select account, you must use Absa Online Banking or the Absa call centre on 0860 111 515.

Is the interest on the Absa Notice Select tax-free?

No. Interest earned on the Absa Notice Select is taxable income and must be declared on your annual SARS tax return.

Can I use my Notice Select balance as loan collateral?

Yes. Funds held in your Absa Notice Select account may be used as security against an Absa loan.

The bottom line

The Absa Notice Select is a flexible notice account for South African savers who want better returns than a standard savings account without fully committing their funds to a fixed deposit.

The combination of a R1,000 minimum deposit, 50% immediate access, no monthly management fee, four notice period options, and an additional Digital Bonus Rate makes it a practical option for digitally active savers.

Before opening an account, use the JustMoney budget calculator to confirm you can commit the deposit, compare savings options on JustMoney, and verify the latest interest rates on Absa’s rates and fees page.

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