Banking Options

STANDARD BANK CREDIT INTEREST RATES AND SERVICE FEES

Standard Bank’s product is classified as product code 151. It offers standardised interest rates and standardised service fees as follows: an update done on 01-04-2015, due to Standard Bank interim review of its own rates, not because of repo rate change, last repo change was on 18-07-2014.

*NB. We await advice from the bank (Standard) for the revised credit interest rates, following Repo rate change, dated 28 Jan 2016.

Repurchase rate changed with 25 basis points, on 23-07-2015, Standard bank advised revised rates on 06 August 2015, rates effective 24 July 2015. New rates updated as at 06-08-2015.

Balance in trust account Rate
Amount %
R0 – R999 0.75%
R1 000 – R2 499 0.75%
R2 500 – R4 999 0.75%
R5 000 – R9 999 0.75%
R10 000 – R14 999 0.75%
R15 000 – R19 999 0.75%
R20 000 – R24 999 0.75%
R25 000 – R49 999 0.85%
R50 000 – R74 999 1.75%
R75 000 – R99 999 2.25%
R100 000 – R999 999 2.25%
R1 000 000 – R1 999 999 3.00%
R2 000 000 – R2 999 999 3.10%
R3 000 000 – R4 999 999 3.25%
R5 000 000 3.75%
Above R5 000 000 3.75%

Fees structure with effect from 1st January 2017 to 31 December 2017.

Monthly Management fee : R69.00.
Cheque Service Fee for Attorneys Trust accounts is a flat fee : R40.00 , regardless of the value of the cheque.

Cheque Deposits :  R30.00. maximum flat fee.

Cash deposit fee :   base fee R7.00 plus R1.35%, no maximum.

*Please take note that unless specified above, the fees and the terms and conditions of the Business current account will apply to the attorneys trust account.
Standard bank has developed an enhancement to provide for monthly transmission of interest, net of recoverable bank charges, to a nominated Law Society account.
For more information:
http://www.standardbank.co.za/ (Click on the “Fees, rates and prices” section, and then select “interest rates” and “attorneys trust”)