Nedbank repo rate remain unchanged

19 January 2012

NEDBANK INTEREST RATES REMAIN UNCHANGED

Following today’s announcement by the Monetary Policy Committee the repo rate of 9.00 percent will remain unchanged. Nedbank has announced that there will therefore no change to their current prime overdraft rate, the vehicle and asset finance rate and the mortgage rate applicable to home loans.

The charitable donations made on behalf of clients to a Nedbank Affinity linked investment account will remain unchanged.

Notes:

The new Nedbank Affinity investment accounts include fixed, term and notice deposits, money-market investment accounts. Based on a client’s balance Nedbank donates a percentage to a cause that the client cares about, namely environment and climate change through The Green Trust, needy children through the Nelson Mandela Children’s Fund, arts and culture through the Arts & Culture Trust and sport development The Sports Trust. The donations here do not impact the client’s investment return, but are from Nedbank reducing its margin. Since inception the Nedbank Affinity programme has donated nearly R130 million to over 1000 causes.

ENDS

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Issued by Nedbank Group Communications