Standard Bank Notice Deposit: Fees, Rates & Review (2026)

Standard Bank's Notice Deposit is a savings account that pays competitive interest in exchange for giving advance notice (7-60 days) before withdrawing funds. It's ideal for savers who want better returns than regular savings accounts but still need reasonable access to their money. The longer the notice period, the higher the interest rate you earn.

JustMoney tip: Before locking money into any savings product, compare your options and ensure you have emergency funds in an accessible account first. Use our budget calculator to determine how much you can comfortably save.

Standard Bank Notice Deposit: Key Details

Important Notes:

• Notice periods: 7 days (AccessSave), 32 days, or 60 days

• Longer notice periods = higher interest rates

• Early withdrawals incur penalty fees

• No monthly management fees

• Interest is calculated daily and paid monthly

Source: Standard Bank Savings & Investments 2026 Pricing Guide

How Notice Deposit Works

1. Choose Your Notice Period

Select from 7, 32, or 60 days depending on:

• How soon you might need access to funds

• The interest rate you want to earn (longer = higher rate)

• Your savings goals

2. Earn Competitive Interest

Your interest rate is determined by:

• Notice period - Longer notice = higher rates

• Balance amount - Larger balances may qualify for better rates

• Market conditions - Rates are variable and may change

Interest is calculated daily and credited to your account monthly.

3. Give Notice to Withdraw

When you need funds:

• Give notice via the Banking App (cheapest - R150 early withdrawal fee if needed)

• Give notice via branch (more expensive - R250 early withdrawal fee if needed)

• Wait for your notice period to expire

• Access funds without penalty after the notice period

4. Flexible Deposits

Add money anytime:

• No minimum additional deposit amount

• Deposits via inter-account transfer are free

• Deposits via ATM cost R1.80 per R100

• Build your savings at your own pace

Key Benefits

• No monthly fees - Keep 100% of your interest

• Competitive interest rates - Better than regular savings accounts

• Flexible deposits - Add money whenever you want

• Low opening balance - Start with just R250

• Partial withdrawals - Take out what you need, leave the rest earning interest

• UCount Rewards - Earn Tiering Points based on your balance

• Free digital banking - Manage via app, online, or cellphone banking

Who Should Consider This Account?

Best for:

• Medium-term savings goals (6-24 months)

• Emergency fund building (after maintaining 3 months expenses in accessible savings)

• People who can plan withdrawals in advance

• Savers seeking better rates than regular savings accounts

• Those with lump sums to invest for fixed periods

Not ideal for:

• Immediate emergency funds (use PureSave or money market instead)

• Very short-term savings (under 3 months)

• Frequent access needs (penalties apply for early withdrawal)

• Long-term retirement savings (consider tax-free or other investment options)

JustMoney insight: Notice Deposits work best as part of a diversified savings strategy. Keep 3-6 months of expenses in an immediately accessible account, then use Notice Deposits for medium-term goals. Learn more about savings and investment strategies.

How to Minimise Costs

1. Plan withdrawals carefully - Avoid the R150-R250 early withdrawal penalty

2. Use digital banking - Free balance enquiries and statements online

3. Transfer funds digitally - Free from your linked transactional account

4. Avoid branch deposits - R100 + R5 per R100 vs R1.80 per R100 at ATM

5. Set calendar reminders - Know when your notice period expires

Notice Deposit vs Other Savings Options

Compare all your options: Savings and investments theme

FAQs

What interest rate will I earn?

Interest rates vary based on your notice period (7, 32, or 60 days) and balance amount. Contact Standard Bank or check online for current rates. Generally, 60-day notice earns the highest rate.

Can I withdraw money before the notice period ends?

Yes, but you'll pay an early redemption charge of R150 (online/app) or R250 (branch). The penalty makes early withdrawals costly, so plan carefully.

What's the minimum opening balance?

R250 - one of the lowest minimums for interest-bearing savings accounts from a major bank.

Are there monthly fees?

No monthly fees - your interest earnings aren't reduced by monthly charges.

Can I add money after opening?

Yes! You can make additional deposits anytime with no minimum amount. Deposits from your linked transactional account are free.

How is interest paid?

Interest is calculated daily and credited monthly to your Notice Deposit account. You can reinvest it (compound interest) or transfer it to another account.

Which notice period should I choose?

• 7 days: Need relatively quick access, lower interest

• 32 days: Balance of access and returns

• 60 days: Best rates, suitable if you won't need funds soon

Consider your timeline and goals. Learn more: What are the rules of the tax-free savings account?

Can I have multiple Notice Deposit accounts?

Yes, you can open multiple Notice Deposits with different notice periods to suit various savings goals.

The Bottom Line

Standard Bank's Notice Deposit offers a smart middle ground between immediate-access savings and locked fixed deposits. With no monthly fees, competitive interest rates, and flexible deposits, it's ideal for medium-term savings goals where you can plan withdrawals in advance.

The key is choosing the right notice period for your needs. If you might need funds urgently, keep that money in immediate-access savings like PureSave. Use Notice Deposits for goals 6+ months away where you can afford to give advance notice for better returns.