FNB Money Maximiser

Quick summary

The FNB Money Maximiser bridges the gap between a standard savings account and a money market fund. It offers a competitive nominal interest rate of 7.65% per annum, daily interest calculations, a capital guarantee, and the flexibility to deposit, withdraw, or redirect interest at any time, all with no notice period.

The R65 monthly fee is waived for many qualifying FNB account holders, making it even more cost-effective for existing FNB clients.

JustMoney tip: The FNB Money Maximiser requires a minimum deposit of R100,000. If you’re building towards that threshold, consider starting with the FNB Savings Account or the FNB Tax-Free Savings Account while you accumulate funds.

FNB Money Maximiser: fees and key details

Important notes

• All fees include VAT and are effective for 2025/2026. Confirm current rates directly with FNB before opening an account.
• Interest rates are tiered, with higher balances earning a more favourable rate.
• Rates are variable and may change in line with the South African Reserve Bank repo rate.
• You will not earn interest if your balance falls below the R100,000 minimum opening deposit.
• The R65 monthly fee is waived for qualifying clients, including those who opened the account via the FNB app, and clients on Premier, Private Client, FNB Private Wealth, and RMB Private Bank transactional accounts on bundle pricing.

Key Features & Benefits

1. Money Market-Related Interest Rate

The account earns a nominal interest rate of 7.65% per annum, comparable to money market fund returns, but with the full flexibility of a savings account. Interest rates are tiered , the higher your balance, the better the rate you earn. Interest is calculated daily and capitalised monthly, meaning your earnings compound over time even if you don’t make additional deposits.

2. Capital Guarantee

Unlike unit trusts or equity-linked investments, the FNB Money Maximiser offers a 100% capital guarantee. Your original deposit and quoted returns are fully protected, regardless of market conditions. This makes it a genuine zero-risk savings vehicle suitable for emergency funds, short-term savings goals, or capital preservation.

3. Instant Access , No Notice Period

You can withdraw any amount at any time with no notice period and no early withdrawal penalty. This is a key distinction from notice accounts (which require 7 to 32 days’ notice) and fixed deposits (which lock funds for a set term). Withdrawals are available online, via the FNB Banking App, or at an FNB ATM.

4. Flexible Deposits and Interest Management

The account supports unlimited deposits at any time, with no upper limit. At the end of each month you can choose to:

• Automatically reinvest interest back into the account to compound your earnings

• Transfer interest to another FNB account (current or savings)

• Set up scheduled transfers to build your balance consistently over time

• Make third-party payments directly from the account (based on available funds)

5. Digital Account Management

Open and manage the account entirely through the FNB Banking App or FNB Online Banking , no branch visit required. Full functionality includes balance enquiries (free via app), digital statements, transaction history, and payment management. The FNB Banking App is available 24/7 and is consistently rated among South Africa’s top banking apps.

6. Monthly Fee Waiver for Qualifying Clients

While the standard monthly fee is R65, it is waived entirely for clients who:

• Opened the account via the FNB Banking App

• Hold FNB Premier, Private Client, FNB Private Wealth, or RMB Private Bank transactional accounts on a bundle pricing option

• Are on the FNB Retirees Solution

• Are Signet clients, or hold an Encore Aspire Current or Premier Select Current account

For qualifying clients this effectively makes the account fee-free, improving the net return on savings considerably.

7. Tax Considerations

Interest earned on the FNB Money Maximiser is taxable. It forms part of your annual taxable income and must be declared on your tax return. However, SARS provides an annual interest exemption , R23,800 for taxpayers under 65, and R34,500 for those aged 65 and over , which offsets a portion of the tax liability for most savers. If tax-free growth is a priority, consider the FNB Tax-Free Savings Account instead.

Who Should Consider This Account?

This account may suit you if you:

• Have a minimum of R100,000 available to deposit and want it to earn more than a standard savings account

• Want instant access to your funds without a notice period or withdrawal penalty

• Are looking for a capital-guaranteed, zero-risk savings vehicle

• Want to earn money market-related returns without the complexity of investing in a money market fund

• Are an existing FNB client who qualifies for the monthly fee waiver

• Are building an emergency fund, saving for a large purchase, or preserving capital between investments

This account may not suit you if you:

• Have less than R100,000 to invest, consider the FNB Savings Account (from R1) or FNB Tax-Free Savings Account (from R300) instead

• Are seeking the highest possible interest rate and are comfortable locking funds away, a notice account or fixed deposit may offer better returns

• Want tax-free interest growth, the Money Maximiser does not offer tax exemption on interest earned

• Are looking for investment growth rather than capital preservation, equity-linked products may suit long-term wealth building better

JustMoney insight: The FNB Money Maximiser is not an investment product, it is a high-yield savings account. If your goal is long-term wealth growth, consider pairing it with a tax-free savings account or other investment vehicle. A JustMoney financial coach can help you assess your options for free.

What to Check Before You Open an Account

1. Do You Have R100,000 Available?

The R100,000 minimum opening deposit is a firm requirement , you will not earn interest if your balance falls below this threshold. Make sure you can commit this amount without needing it for short-term expenses. Use our budget calculator to confirm you have sufficient surplus funds before opening the account.

2. Compare Your Savings Options

The Money Maximiser is competitive in the instant-access savings category, but it may not always be the best fit. Compare it against:

• FNB 32 Day Flexi Notice Account, better rate in exchange for a short notice period

• FNB Fixed Deposit, highest rates for committed terms (but no instant access)

• FNB Tax-Free Savings Account, interest earned is tax-free (annual limit R36,000)

• Other South African savings accounts, compare rates across banks on JustMoney

3. Understand the Tax Implications

At 7.65% nominal on R100,000, you could earn approximately R7,650 in annual interest. If this exceeds your SARS interest exemption threshold (R23,800 for under-65s), the excess is taxable at your marginal rate. Factor this into your net return calculation, especially for larger balances.

4. Check Whether the Monthly Fee Applies to You

If you are not on a qualifying FNB account tier, the R65 monthly fee applies. Over 12 months that is R780, which reduces your effective return. For a R100,000 balance earning 7.65%, the fee reduces your net yield by approximately 0.78 percentage points. Confirm your fee status with FNB before opening the account.

Frequently Asked Questions

What is the minimum deposit for the FNB Money Maximiser?

The minimum opening deposit is R100,000. You must maintain this balance to earn interest. If your balance drops below R100,000, interest earnings are suspended until you top up above the threshold again.

Can I withdraw my money at any time?

Yes, there is no notice period and no withdrawal penalty. You can withdraw any amount at any time via the FNB Banking App, Online Banking, or at an FNB ATM. This is one of the key advantages of the Money Maximiser over notice accounts and fixed deposits.

How is the interest rate structured?

The FNB Money Maximiser uses tiered interest rates , higher balances earn a more favourable rate. The current nominal rate is 7.65% per annum for qualifying balances. Interest is calculated daily and capitalised (added) to your account monthly. Rates are variable and may be adjusted in line with SARB repo rate changes.

Is the FNB Money Maximiser the same as a money market fund?

No. The Money Maximiser is a bank savings account that earns a money market-related interest rate. Unlike a money market fund (which is a collective investment scheme and not covered by bank deposit insurance), the Money Maximiser offers capital guarantee and is a direct bank deposit product. This makes it lower risk than a money market fund, but typically with a similar interest rate.

Is interest earned on the FNB Money Maximiser tax-free?

No. Interest earned is taxable income and must be declared in your annual SARS tax return. SARS provides an annual interest exemption of R23,800 (under 65) and R34,500 (65 and over). If tax-free growth is a priority, consider the FNB Tax-Free Savings Account or explore other tax-free savings options on JustMoney’s savings and investments page.

The Bottom Line

The FNB Money Maximiser is a strong option for South Africans with R100,000 or more to save who want market-related interest rates without sacrificing liquidity. The combination of a 7.65% nominal rate, daily interest accrual, capital guarantee, and instant access makes it one of the more compelling savings accounts in its category.

Before opening an account, use our budget calculator to confirm you can commit the R100,000 minimum, compare savings and investment options on JustMoney, and consider speaking to a free JustMoney financial coach if you’re unsure which savings product best suits your goals.

Ready to open an account? Visit FNB’s Money Maximiser page to apply via the FNB Banking App or your nearest FNB branch.