Bidvest Bank 48 Hour Notice Deposit Account

Bidvest Bank recently introduced the 48- hour notice Investment account to business owners. The benefit of this call account includes the ability to access funds within two business days’ notice. Returns are guaranteed at maturity at an attractive interest rate of 8,55%*.

Sambo explains that business clients are  required to have a minimum amount of R100,000 to open the account. It should  not be seen as a transactional account,  rather as an investment vehicle allowing for flexibility to access the cash quicker when the need arises.

“This account is specifically designed for  businesses who have surplus funds and  want to maximise their interest earnings,”  says Sambo. “As such, this account can  yield a more significant return and the capital is guaranteed.” 

This account is specifically  designed for business who have  surplus funds and want to  maximise their interest earnings 

Competitive advantages 

The account was developed as a vehicle  to facilitate business savings. Should  access to funds be needed, the account  calls for 48 hours’ notice, which means  there is less temptation to withdraw the  money unless it is genuinely necessary.  “The idea is to keep the money in the  account and grow the balance, capitalising  on the attractive interest rate that the  account offers,” explains Sambo. “We’d  like to see businesses use this account  a savings vehicle where they increase their balance and save towards their individual financial goals.”

The addition of the 48 Hour Notice Deposit  Account adds to the Business Savings  continuum offering from Bidvest Bank.  This allows all types of business to find the  right savings and investment solutions to  meet their needs be it short-term or long term with great interest earning potential.

Sambo concludes, “We believe this is a  game-changing solution that empowers  businesses to maximise their savings  potential. While it allows them to save with  ease, they are still able to maintain access  to their funds within 48 hours. By making  use of this account specifically as a savings vehicle, businesses can pave the  way to greater financial stability, and a  more deliberate control over their financial  future.” DM/BM

About Bidvest Bank
Bidvest Bank is a fully-fledged Bank specialising in foreign exchange, business banking, fleet and asset finance services for individuals, businesses, and corporations. Its offerings include banking services such as deposit and banking accounts, investment options, global business payments, foreign exchange, trade finance, fleet, and asset finance.