Category Banking

FNB’s 2010 savings push yields good results

25 August 2008 FNB

FNB is successfully using the power of the 2010 FIFA World Cup™ to raise South Africa’s savings bar. It has recently passed a 10 000 customer mark in just one month as part of its 2010 Save to Score campaign.

This savings rate is set to increase in the coming months, as more South Africans take up the challenge of savings. “We are delighted by the overwhelming public’s response to saving, with over 10 000 people who have signed up for the FNB Fixed Deposit Account offering so far exceeding the account opening requirement by an average of 250%,” said Robert Keip (pictured), Head of FNB's Savings and Investment Products.

He explained that a significant number of people who’ve opened Flexi Fixed Deposit Accounts have done so for their children and grandchildren, which bodes well for this country’s savings future. “This shows that South Africa is slowly turning the savings corner, and that the next generation of adults will hopefully have an entrenched savings culture,” said Keip.

Launched on 15 July 2008 to help raise the low level of savings in South Africa – one of the lowest in the world – the Save to Score campaign is the product of FNB’s association with the 2010 FIFA World Cup™, of which it is an official National Supporter.

To make the campaign more exciting, FNB is giving away 150 000 soccer balls (amassed in one place over two days in a Guinness World Record attempt by the bank last month) to people who open an FNB Flexi Fixed Deposit Account. When the savings reach R500 in invested funds, the account holder receives an FNB 2010 FIFA World Cup™-branded genuine Adidas soccer ball.

More than 10 000 balls have been distributed so far, with the remaining 140 000 set to go soon as the number of people opening their Flexi Fixed Deposit Account increases.

Flexi Fixed is a savings account currently paying a fantastic interest rate of 8.75% on balances R100 - R9 999 and 10,75% on balances of R10 000. This rate is linked to prime, which makes it an ideal investment offering for the times we are in. "With interest rates on the rise, there has never been a better time to save. Flexi Fixed really is an alternative to getting into debt; and investing is the right thing to do right now," said Keip.

Adding to the excitement of the day, FNB today announced that another 500 FNB customers have secured double ticketsto watch soccer matches during the 2010 FIFA World Cup™. This brings to 3000 the number of 2010 tickets that FNB has awarded to its customers this year.

Lesibana Phahlane and Oupa Mbokodo, both from Johannesburg are among the winners of the third round of FNB’s 2010 FIFA World Cup™ Promotion. They have won double-tickets to the 2010 FIFA World Cup™ Final Match, which will be played at the FNB Stadium on 11 June 2010.

These tickets are awarded quarterly in batches of 500, with winners drawn from a pool of FNB customers who hold qualifying banking accounts. To qualify for the remaining 9 draws in the run-up to the 2010 FIFA World CupTM, one is required to hold any single one of a number of FNB’s range of qualifying banking products that include, Deposit, Loans, Credit, Transactional, Investment, and Home Loans products, as well as FNB eBucks membership.

These tickets are spread across all 64 matches during the 2010 FIFA World Cup™, including the Opening Ceremony on 11 June 2010 and the Final Match on 11 July 2010 – both events at the FNB Stadium in Johannesburg.

FNB Brand Director Derek Carstens said: “FNB is committed to bringing the 2010 FIFA World Cup™ to our people and taking people to the games. As we head towards kick-off, we are ensuring that FNB’s 2010 activities are aimed at getting our customers behind the tournament.”

Quick Polls


What is your one-liner for the 2024 National Budget speech?


Creepy failure to adjust income tax, medical tax credits
Overall happy, it should support economic growth
Overall unhappy, soaring public sector wages and broken SOEs suck..
There are too few taxpayers, too many grant recipients.
fanews magazine
FAnews February 2024 Get the latest issue of FAnews

This month's headlines

On the insurance industry’s radar in 2024
Insurers, risk managers unsure of AI’s judgement credentials
Is offshore the place to be in 2024?
Gap claims: erosion of medical benefits, soaring specialist fees
Investments and retirement… is conventional wisdom under threat?
Subscribe now