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FNB 32 Day Flexi Notice account

The FNB 32 Day Flexi Notice account is a great way to save, with no monthly fees to worry about. Here’s what you should know about this popular savings option.

16 September 2024

Saving money is a journey, and choosing the right savings account can be key to achieving your financial goals. 

The FNB 32 Day Flexi Notice account combines flexibility with attractive interest rates. It allows you to grow your savings while providing easy access to your money after 32 days, at no cost. 

Tip: Using a budget calculator helps you to put together an effective monthly budget. 

What are the benefits of a notice account?

A notice account is designed to promote long-term saving habits by offering a higher interest rate compared to a regular savings account.

To “earn” this higher return, you agree to a set notice period before withdrawing your funds. 

Can you withdraw money early from a notice account?

Typically, you will incur fees if you withdraw money early from a notice account.

You can access the funds in your FNB 32 Day Flexi Notice account early if you need to, but you will be charged, so it’s better to adhere to the notice period and maximise your savings. 

How does 32 days’ notice work at FNB?

Whether you’re saving for a rainy day or a big purchase, or simply looking to make the most of your hard-earned money, this no-risk account provides peace of mind – your original deposit and quoted returns are guaranteed.

The interest rate is based on the amount you invest, and while you sacrifice some liquidity – meaning, you can’t withdraw your funds at any time – you’ll achieve a higher return on your savings.

If you wish to access the funds in your account, you must give the bank 32 days’ notice before you may withdraw the money at no cost. The 32-day period starts on the day you give notice. 

Why choose the FNB 32 Day Flexi Notice account?

The account allows you to manage your savings conveniently and flexibly. You can withdraw money for free after 32 days, or sooner (at a cost).

You can also deposit money into the account any time, from anywhere, making it easy to grow your savings. The “tiered interest” aspect means the more you invest, the more you earn.

Features

  • Open and manage the account online or via the FNB digital banking app
  • Access your investment after the notice period of 32 days, at no cost (or sooner for a fee)
  • No monthly account fees
  • Guaranteed capital and interest
  • Payments to third parties allowed
  • You can schedule regular transfers into your account

Maximum credit interest

8.45% maximum nominal interest rate over 12 months

(You will not earn interest if the investment balance is less than R1,000)

General fees

 

Minimum opening deposit

R5,000

Monthly fee

No monthly fees, but transactional fees and early withdrawal fees apply

Services for inContact, the FNB Banking App, online banking, and cell phone banking

Free

Up to 12 months’ digital statements

Free

Deposits

 

FNB ATM and automated deposit teller (ADT)

Free

FNB branch

R80 + R3.20 per R100

Transfer money via digital channels

Free

Withdrawals

 

Early withdrawal/closure

 

Early withdrawal fee = base fee (see below) +2.25% of the amount to be withdrawn early

R1,000 or less

Base fee – face-to-face channels: R100

R1,000 or less

Base fee – electronic channels: R25

More than R1,000

Base fee – face-to-face channels: R300

More than R1,000

Base fee – electronic channels investment: R50

Cash withdrawals

 

Other bank ATM

Not possible

FNB ATM and ADT

Not possible (withdrawals can only be made to a linked account, such as your cheque account)

Account payment/transfer

Online payments/transfers from your account are free. These transactions cannot be done at an ATM or another bank

Balance enquiries

 

Balance enquiries – online or app

Free

You can get up to 12 months’ digital statements free

Balance enquiries – bank branch

Not possible

Statements

 

Bank branch

R27 per statement

Own bank’s ATM

R3.20 per statement


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