• GoalSave interest is earned in steps over the life of the account, with the 4% per annum rate applied for the first 30 days, 5% applied for the next 60 days, and a rate of 6% is applied from then on.
  • Interest is calculated daily, based on end-of-day balances. It is accrued during the month and all accrued interest is capitalised on the 1st day of the new month. This means that the interest is added to the account balance, and from then on, the daily interest is calculated based on this new, higher balance.
  • When a GoalSave payout occurs, accrued but not yet capitalised interest is added to the payout amount (the value paid out includes all customer funds invested and all interest earned over the life of the GoalSave account).
  • Customers are eligible for the “GoalSave Bonus” when 10 days’ notice is given on a GoalSave withdrawal. The Bonus amount is calculated as [all interest earned over life of GoalSave] x [7% / 6% -1]. This incremental payment results in the maximum interest paid during the life of the GoalSave increasing from 6% to 7%.
  • Customers who elect to have their salary paid into their TymeBank account are eligible for an additional “Salary Kicker”. This is applied if the conditions for the “GoalSave Bonus” are also met. The Salary Kicker is calculated as [all interest earned over life of GoalSave] x [8% / 7% -1]. When added to the “Goalsave Bonus”, this incremental payment results in the maximum interest paid during the life of the GoalSave increasing from 6% to 8%.

Contact us

If you’re an existing TymeBank customer and have a banking product or service query, please contact us on the following numbers.

TymeBank Customer Service Centre0860 999 119service@tymebank.co.za

Operating hours:
7am to 8pm, 7 days a week, including holidays

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