A safe, smart way to grow big savings—with no drama.
What the Account Is For
This account is for serious savers. If you’ve got R100 000 or more and want to grow it safely, while still having access to your money anytime, the MoneyMarket Select Investment Account is worth a look.
It’s a great fit if you:
- Want guaranteed growth without stock market risk
- Need flexibility (you can deposit or withdraw anytime)
- Prefer a stable, no-frills investment option
Whether you’re saving for a major purchase, a future project, or just want your money to work harder while staying accessible—this account has your back.
How the Account Works (With Examples)
You earn interest based on how much you keep in the account. The more you save, the higher the interest rate.
Here’s a simple example:
- If you save R250 000, your interest rate is 7.90% per year.
- That means over 12 months, you’d earn around R19 750 in interest, before tax.
- You can access your funds at any time without penalty.
Interest is calculated daily and paid monthly into your account or any account you choose.
Pros and Cons
| 👍 Pros | 👎 Cons |
| High interest (up to 7.90%) | You need at least R100 000 to open it |
| No monthly admin fees | No interest below R100 000 |
| Access your money anytime | No debit orders allowed |
| Unlimited deposits and withdrawals | Cash deposit fees apply |
| Capital guaranteed |
Who Should Consider This Option
Choose this account if:
- You’re sitting on a large lump sum and want competitive growth without risk.
- You don’t need fixed notice periods or penalties to stay disciplined.
- You want an account that grows with you—the more you save, the better your return.
Interest Structure
This account uses nominal interest rates, paid monthly. Rates go up as your balance increases:
| Balance | Interest Rate |
| R0 – R99 999 | 0.00% |
| R100 000 – R249 999 | 7.55% |
| R250 000 and above | 7.90% |
Interest is quoted per annum (365 days) and calculated daily. (For the most accurate and up-to-date interest rates, please visit standardbank.co.za)
Tax Implications
Interest earned is taxable. But here’s what to remember:
- If you’re under 65, your first R23 800 of interest per year is tax-free (Section 10(1)(i) of the Income Tax Act).
- Any interest above that is taxed as part of your income.
- Absa will send you a tax certificate each year to help you declare it correctly.
How to Apply
| Group | Documents You’ll Need |
| South African Citizens | ID + proof of residence (not older than 3 months) |
| Foreign Nationals | Passport + valid permit + proof of residence |
How to open it:
- Online via Standard Bank Internet Banking or App
- On the app: More > Open a new account > Savings & Investment > MoneyMarket Select
- Call 0860 123 000
- Or visit a Standard Bank branch
Final Word from Buti
If you’ve worked hard to build up R100 000 or more, don’t let it sit idle. The MoneyMarket Select Account gives you strong interest, instant access, and peace of mind.
You’re not locked in. You’re not penalised for withdrawals. You’re just earning—and that’s how savings should feel.
Still comparing? Use the Buti.co.za comparison tool to explore all your options side by side.
Ready to apply? Visit Standard Bank or use the app today.