ABSA’s standardised credit interest rates is as follows: updated due to repo rate change on 18-03-2016.Rates for Trust account product code 11043 & Trust (section 78(1)) product code 11045, revised effective 19 March 2016.
|Balance in trust account||Rate|
|R0.01 – R50 000||1.40%|
|R50 000.00 – R100 000||2.55%|
|R100 000.01 – R500 000||2.85%|
|R500 000.01 – R1000 000||2.90%|
|R1000 000.01 – R2500 000||3.65%|
|R2500 000.01 – R5000 000||3.75%|
|R5000 000.01 – R10 000 000||4.05%|
|R10 000 000.01 – R30000 000||4.20%|
|R3 000 0000.01-99999999||4.25%|
Absa bank fees Attorneys trust accounts, from the 1st January 2017 to 31st December 2017.
Fee type Attorney trust accounts (11043 and 11045) 2015 Pricing
Monthly fee R65.00
Service fee R75.00 standard rate, per cheque issued.
Cheque deposit: R35.00 per cheque.
Cash Deposit Fee, at branches: R7.00 base fee plus 0.90% of deposit, minimum charge is R30.00.
Cash deposits at cash centres: R6.00 base fee plus 0.90% of deposit.
Cardless Atm deposits : R5.25 base fee plus 0.90% of deposit.
Administration fees: Standard rates.
All other fees are standard as per the brochure available from Absa bank web site.
Interest is calculated on daily balance and capitalised monthly. These fees are applicable to both product 43 and the enhanced product known as product 45 which provides for automated monthly transfers of net interest to a nominated Law Society.