TymeBank holds the line with top saving rates despite rate cuts

Johannesburg, 21 August 2025 – While the South African Reserve Bank (SARB) has cut interest rates, TymeBank is doubling down on rewarding savers, leveraging its digital-first model to continue offering the best savings rates in the country.

South Africans face a mix of challenges when it comes to saving, including economic pressures stemming from a high cost of living, low wage growth and debt burden. For many there is also little incentive to save, with below-inflation interest rates and bank fees that eat into balances.

As of this month, TymeBank has:

• Increased the GoalSave limit to R250,000 (from R100,000)
• Boosted the 3-month Fixed Deposit rate to 8%
• Raised the 6-month Fixed Deposit rate to 8.5%
• Maintained its market-leading 12-month Fixed Deposit rate at 9%
• Continued offering GoalSave returns of up to 10% – unmatched in South Africa.

“Being a digital bank means we don’t have expensive branches or costly infrastructure – and that allows us to pass more value back to our customers, with the added benefit of no queues,” said Cheslyn Jacobs, Chief Commercial Officer at TymeBank. “While others are lowering their savings rates in response to the SARB’s decision, we are proud to be increasing them, helping South Africans grow their money faster.”

TymeBank’s operational efficiency as a branchless, tech-driven bank is what makes this possible. With lower overhead costs, the bank can consistently provide above-market interest rates and flexible savings solutions to its customers.

In an environment where most banks respond to interest rate cuts by reducing what they pay savers, TymeBank is sending a different message: smart, digital banking puts more money in your pocket. No branches = better rates + no queues.

ENDS

About TymeBank

TymeBank is one of the world’s fastest-growing digital banks and is listed on TIME 100 Most Influential Companies for 2025. With over 11 million customers since launching in February 2019, the bank is founded on simplicity, transparency and affordability, designed to make digital banking accessible and affordable to all South Africans across the economic spectrum. TymeBank has no monthly banking fees; it takes less than five minutes to open an account and in most cases transaction costs are 30 to 50% lower than what customers would pay at other

local banks. Through a distribution partnership with Pick n Pay, Boxer, and TFG stores, TymeBank has over 1,000 kiosks and 15,000 retail points across the country.

For more information visit www.tymebank.co.za.

Issued by Aprio on behalf of TymeBank

For interview requests and queries please contact: 

Cecilia Pinto Taylor - 0833259169 or This email address is being protected from spambots. You need JavaScript enabled to view it. Pontsho Ramontsha - 0724717357 or This email address is being protected from spambots. You need JavaScript enabled to view it.