Capitec Bank is a South African financial institution that is known for its innovative banking solutions. One of the primary goals of the bank is to help its customers save money. In this blog post, we will explore some of the ways that you can save money monthly with Capitec. Read on to find out more.
1. Open a Fixed Deposit Account
If you have some extra cash that you don't need to access for a while, consider opening a fixed deposit account. This is a type of account where you deposit a sum of money and earn interest over a fixed period. Capitec offers some of the best interest rates in the market, making it an attractive option for people who want to save money.
1.1 How to Open a Fixed Deposit Account with Capitec
To open a fixed deposit account with Capitec, you need to have an existing transactional account with the bank. You can then log in to your account and follow these steps:
- Select the Save tab
- Select Fixed-term savings
- Choose the amount you want to invest and the duration of the deposit
- Confirm your details and select Invest
2. Take Advantage of Capitec's Low Fees
Capitec is known for its low fees, which means that you can save money on bank charges. Here are some of the ways that you can take advantage of Capitec's low fees:
2.1 Use Capitec's Cellphone Banking
With Capitec's cellphone banking, you can perform a range of transactions without having to visit a branch. This includes transferring funds, paying bills, buying airtime, and more. The best part is that there are no fees for using cellphone banking.
2.2 Withdraw Cash for Free
Capitec allows you to withdraw cash for free at selected retailers, such as Pick n Pay, Shoprite, and Checkers. This means that you don't have to pay ATM withdrawal fees, which can add up over time.
3. Set Up Automated Savings
If you struggle to save money, consider setting up automated savings with Capitec. You can set up a monthly debit order to be transferred to your savings account, which means that you don't have to think about saving money each month.
3.1 How to Set Up Automated Savings with Capitec
To set up automated savings with Capitec, follow these steps:
- Log in to your account
- Select the Save tab
- Select Debit Orders
- Follow the prompts to create your debit order
4. Get a Capitec Credit Card
Capitec offers a range of credit cards that allow you to earn rewards and cashback on your purchases. By using a credit card responsibly and paying off your balance in full each month, you can save money on interest and earn rewards at the same time.
4.1 How to Apply for a Capitec Credit Card
To apply for a Capitec credit card, follow these steps:
- Log in to your account
- Select the Credit tab
- Select Credit Card
- Follow the prompts to apply for a credit card
Conclusion
There are many ways that you can save money monthly with Capitec. By taking advantage of the bank's low fees, setting up automated savings, and using a credit card responsibly, you can make your money work harder for you. So why not open a fixed deposit account, set up automated savings, or apply for a Capitec credit card today? Your future self will thank you for it.
