5 banking features to get you more money this month
Finances feeling a little tight this month? Discovery Bank's smart solutions can help you boost your savings, take control of your interest rates, and revolutionise your budgeting. Here are five innovative features to bump you closer to earning and saving more money this year.
A new year brings new opportunities to transform your financial landscape. At Discovery Bank, our goal is to empower you to tap into MORE - more rewards, more discounts, more good money habits, and ultimately, more financial freedom. All of this is just a few taps away on your Discovery Bank app.
Let's explore five powerful products and features - all accessible right from your banking app - that can help put money back in your pocket this year.
1. The Vitality Money Financial Analyser: your smart budgeting buddy
Budgeting better is a common resolution, but actually doing it often proves challenging. Meet the Vitality Money Financial Analyser, an AI-enabled smart budgeting tool available for free on your Discovery Bank app. No more spreadsheets or third-party apps - this intelligent tool effortlessly tracks your expenses, offering a real-time view of your finances.
With the Financial Analyser, you can:
- Gain insights into your income, expenses, savings, and budget.
- Automatically categorise transactions for easy tracking.
- Set personalised budgets and receive smart alerts.
- Enjoy up to 10,000 Vitality Money points for hitting your budget goals.
Say goodbye to financial stress and hello to a seamless, sustainable budgeting experience. Learn more.
2. Dynamic Interest Rates: manage your rate with good money habits
Take control of your interest rates with Dynamic Interest Rates, which are linked to your Vitality Money status. By improving this status, you can enjoy up to 7.35% interest on savings and lower borrowing rates by up to 7%. The healthier your banking habits, the more you save!
Plus, Dynamic Discounts can boost your Vitality rewards, giving you up to 75% back on HealthyFood items and much more. Explore the benefits.
3. Savings accounts: save for the unexpected in 2024
Discovery Bank supports your journey to healthier financial habits and reaching your financial goals in the future. Open as many savings accounts as you need on your app, each tailored to your specific goals. With no monthly fees and competitive interest rates, your savings potential is maximised.
Highlights of this feature include:
- Boosted savings rates on select products, based on your Vitality Money status.
- Zero monthly fees on all savings accounts.
- Easily manage and hide accounts on your app.
Start saving effortlessly by opening a savings account.
4. Tax-Free Savings Accounts: pay no tax to grow your wealth
In a nation struggling with savings, Discovery Bank makes tax-free saving easy and rewarding. You can take the commitment to start now by opening a Tax-Free Demand Savings Account on your app in just minutes.
Why save tax-free with us?
- Earn 8% interest on your savings, tax-free.
- Pay zero monthly fees.
- Save from R1,000 up to your annual limit.
- Control your savings frequency.
Make this year more prepared than the last and start saving tax-free today. If you already have tax-free investments, you can call 0800 07 96 97 to transfer them to Discovery Bank and experience our market-leading rates and award-winning app.
5. Worth Financial Education: take control of your finances by March!
Feel like you need a crash course in money management? Whether your main goal is to reduce your debt, save more for the future, or learn how to plan and stick to a budget, get all the insights, practical tips and motivation you need from subject matter experts, Worth.
We've partnered with Worth to offer easily accessible and results-proven financial education courses that - in 60 days or less - will teach you to how to become financially stronger with every lesson.
Sign up for an online Worth course, which is valued at R4,999 in the market but is discounted just for Discovery Bank clients at R399! Not only do you enjoy this sizeable discount, we'll also reward you with Vitality Money points for completing a Worth course! Learn more and sign up in your banking app today.
Start strong to get wealthier in 2024
There you have it - five ways to pave the way for a healthier financial future with Discovery Bank - your partner in saving MORE. Start strong, stay shrewd and think sustainable to make a success of your finances in 2024!
This article is meant only as information and should not be taken as financial advice. For tailored advice, please contact your financial adviser.