GoalSave savings tool

Keep your money safe and free to grow while earning up to 7% interest per year with our GoalSave savings tool – not your traditional savings account.

What is the GoalSave savings tool?

Your EveryDay account gives you access to a powerful savings tool called GoalSave. Whether you’re saving for a holiday, wedding, birthday or unexpected expenses, you can earn up to 7% interest per year on your savings.

Why use the GoalSave savings tool?

Not your traditional savings account

Save more money to reach your goals

Set aside money to make dreams happen.

Track your savings

Track your savings

Keep track of your savings journey, wherever you are.

Secured savings

Keep your savings safe

GoalSave protects your money from unauthorised debit orders.

High savings interest rate

Earn higher interest on your savings

The longer you save, the more interest you earn.

Savings bonus

10-days’ notice bonus

Wait 10 days for your payout and we’ll give you a bonus on top of the money and interest you’ve already earned.

No. of days after money is added to your GoalSaveAnnual interest rate
1 - 304%
31 - 905%
If you give 10 days’ notice after 90 days7%*

* Annual interest rates: 4% interest from day 1, 5% after 30 days, 6% after 90 days. If you give 10 days’ notice after 90 days – you earn as much as 7%.

** Rates apply from 1 July 2020.

GoalSave interest and limits

Savings interest

The money in your GoalSaves earns you interest at rates that increase over time.

Savings limits

You can have up to 10 active GoalSaves at any point in time. You can add money to your GoalSaves as often as you like up to a maximum of R100 000 across your GoalSaves.

Remember, the combined total across all your GoalSaves and your EveryDay account can't be more than the limit set for your profile. Learn more about our different EveryDay account profiles.

How to use the GoalSave savings tool

  • add-money

    How to add money to your GoalSave

    • You’ll need a TymeBank EveryDay account.
    • You can create up to 10 different GoalSaves and give them each a name, if you want to.
    • You can add money into your GoalSave(s) whenever you want using our SmartApp or Internet Banking.
    • You can add money to your GoalSave(s) as often as you want.
  • withdraw-money

    How to withdraw money from your savings

    You have two options:

    1. Get an instant payout. You can close a GoalSave at any time and all the money in that GoalSave will be transferred into your EveryDay account immediately. This includes all the money you’ve added and all the interest you’ve earned up to the day you close the GoalSave. There is no cost to open or close a GoalSave.
    2. If you're willing to wait 10 days for your payout, we'll give you a bonus on top of the money and interest you've already earned. When the 10 days is up, the full amount, including the bonus, will be paid into your EveryDay account.

Frequently Asked Questions about GoalSave and answers

How is interest applied?

Interest rates increase over time. The longer you save, the higher the rate. We start […]

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What happens if someone sends money to my GoalSave?

They can’t send money directly to your GoalSave. The money transferred to you will appear […]

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How do I create a GoalSave?

You can create a GoalSave on the landing page of your SmartApp or Internet Banking. […]

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