Bank and Save in One Place
Looking for an easy way to save without giving up access to your money? The PureSave Account from Standard Bank helps you do both. You can deposit, withdraw, and earn interest—all from the same account.
What the Account Is For
The PureSave Account is great if you want to keep your money flexible. You can use it like a daily banking account and still grow your savings. It’s perfect if you’re saving casually—maybe for that December holiday, new furniture, or a rainy day fund.
How the Account Works (with Examples)
You don’t need any minimum deposit to open the account. Just start with what you have—even R10. As long as your balance grows, your interest grows too.
- Deposit money anytime.
- Make up to 3 free ATM cash deposits a month (up to R3 000 total).
- Use your Gold Debit Card to swipe or withdraw cash.
- Interest is paid monthly, based on how much is in your account.
Example:
If you save R20 000 and earn an interest rate of 4.95% a year, you’ll earn around R82.50 a month (before tax).
Pros and Cons
| 👍 Pros | 👎 Cons |
| No monthly account fees | No debit orders or stop orders allowed |
| Interest from R1 upwards | Lower rate for balances under R20 000 |
| Use for both spending and saving | Account can be closed after 360 days of no activity |
| Free ATM deposits (up to R3 000) | R100 minimum for inter-account transfers |
Who Should Consider This Option
If you want to save without locking away your money, this account is a solid pick. It suits anyone who:
- Wants one account to save and spend from.
- Prefers no monthly fees.
- Likes access to their funds anytime.
- Is starting out and wants to save small amounts without penalties.
Interest Structure (Nominal Interest Rate)
PureSave uses tiered nominal interest rates. That means the more you save, the more you earn:
| Balance Range | Nominal Interest Rate |
| R0 – R9 999 | 4.75% |
| R10 000 – R19 999 | 4.75% |
| R20 000 – R99 999 | 4.95% |
| R100 000+ | 5.05% |
Interest is calculated daily and paid monthly. (For the most accurate and up-to-date interest rates, please visit standardbank.co.za)
Tax Implications (South African Laws)
- Interest you earn counts as income.
- If you’re under 65, the first R23 800 interest per year is tax-free.
- You’ll get a tax certificate from Standard Bank each year showing how much interest you earned.
If you earn less than the threshold, you don’t need to pay tax on your interest.
How to Apply
South African Citizens
- SA ID
- Proof of residence (not older than 3 months)
Foreign Nationals
- Valid passport
- Proof of residence
- Work or residence permit
Where to Apply
| Platform | Availability |
| Online via Internet Banking | ✅ |
| Standard Bank App | ✅ |
| In-branch | ✅ |
| Call me back form | ✅ |
Final Thoughts from Buti
If you want a “no-fuss” account that lets you save as you go—without worrying about fixed terms, notice periods, or monthly fees—the PureSave Account is a reliable choice. Plus, you don’t need big money to get started.
“Start small, stay consistent. Let your savings grow while you live your life.”
Compare this account to others at Buti.co.za and find what fits you best.