How to Open a Fixed Account on the Capitec App
Learning how to open a fixed account on the Capitec app is a great way to grow your savings while earning higher interest. A fixed account, also known as a fixed-term savings account or fixed deposit, allows you to invest money for a specific period while the bank pays a guaranteed interest rate.
Capitec Bank offers several savings options through its mobile banking platform, including fixed-term savings plans. These accounts are designed for people who want to save money over a set period, usually between several months and a few years, without withdrawing the funds during that time.
Opening a fixed account using the Capitec mobile app is quick and convenient, and existing customers can complete the process in just a few minutes.
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Make Sure You Have a Capitec Account
Before opening a fixed account, you must first have an active bank account.
- You need a transaction account with Capitec Bank
- Ensure the Capitec banking app is installed on your smartphone
- Log in using your remote PIN or biometric login
- Make sure your account has funds available to invest
A fixed savings plan is opened using money from your existing account balance.
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Open the Capitec Banking App
The process starts by accessing the mobile banking application.
- Launch the Capitec banking app on your phone
- Enter your remote PIN or use fingerprint authentication
- Wait for the home screen to load
The app allows customers to manage payments, savings, and other financial services in one place.
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Tap the “Save” Option
Next, navigate to the savings section of the app.
- On the home screen, select Save
- View the different savings plans available
- Look for the Fixed-Term Savings option
This section allows users to create new savings plans for different financial goals.
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Choose the Fixed Savings Plan
Select the fixed account option to begin the setup.
- Tap Add Fixed-Term Savings
- Choose the investment period such as several months or years
- Decide whether interest will be paid monthly or at maturity
Fixed accounts usually provide higher interest rates than regular savings accounts.
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Enter the Deposit Amount
You will then choose how much money to invest.
- Enter the amount you want to deposit
- Confirm that the amount meets the minimum requirement
- Review the interest rate and maturity period
The funds will be transferred from your main account to the fixed savings plan.
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Confirm and Open the Account
The final step is to review and confirm your application.
- Check the investment term and deposit amount
- Read and accept the terms and conditions
- Confirm the transaction using your remote PIN
Once confirmed, your fixed account will be created and your savings will begin earning interest.
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