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Money Saving Tip for 2018: switch to a higher interest paying bank account

Posted By Marilynh / February 12, 2018 / 12 Comments

In tough, economic times, it becomes increasingly important to grow wealth wisely. 

Have a look at the “My Treasury” optimiser which efficiently assists you to find the best savings account, offering you the highest interest rate.



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Over 16 million South Africans have cash in savings accounts, but according to the latest SA Reserve Bank statistics a large percentage (about 40%) of this sits in low interest accounts that offer very low interest rates, if any interest at all. However South Africans could be earning as much as 10% on their savings if they switched to higher interest paying accounts.

MyTreasury.co.za, an independent price comparison website allows savers to compare options online to ensure they get the highest interest, based on their individual requirements. The easy to use My Treasury optimiser offers an efficient way to find the best savings account that offers you the highest interest rate in just a few clicks.  Its for all ages, with our youngest user in his teens, and our oldest in her 90s. The optimiser service is free and provides options based on a few simple questions.



   My Treasury Optimiser



Efficient saving can make a massive difference to your monthly income. Moving your cash from a saving account that offers returns of 5% to a long term fixed deposit with an interest rate of 10% for example, would effectively double your monthly income.

So with such big potential gains from switching to higher interest rate deposits, why do so many South Africans continue to keep their money in low or no paying bank accounts? The explanation is that the savings market is opaque and complex. Without MyTreasury.co.za, it is virtually impossible to determine which of the highest paying savings account would best match your requirements. Some Banks offer higher rates for seniors, but it is not easy to find bank rate data, never mind comparing different rates across multiple banks and products. Trying to find the best rate for your specific profile and savings preferences is even more complex and time-consuming.

The MyTreasury.co.za algorithm searches 600 different rates at ten financial institutions to find you the best product. These options are constantly expanding. Clients can specify liquidity ranging from one day to five years and amounts from R1000 to R50 million.


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My Treasury was founded by partners Michael Kransdorff, Simon Shear and Daniel Rubenstein. As an economist, Kransdorff saw a need to demystify saving and wanted to make it easier for the man on the street to access the best rates.

“Savings accounts are a great way to encourage smarter wealth management. Just about everyone has a bank account, and by encouraging people to see their ordinary bank accounts as tools for actively generating income, we hope to make South Africans more excited about saving. It doesn’t cost you anything to get higher returns on your cash, but you need to know where to look,” says Kransdorff.

In seconds, My Treasury’s proprietary algorithm matches savers to the account that offers them the best returns for their savings needs. It is easy to use and the optimiser asks just a few questions to connect you to relevant, highest interest savings options that meet your needs. My Treasury considers your personal profile, such as your age, to determine whether you are eligible for a preferential rate,” adds Kransdorff.

He says that in tough economic times, it’s especially important to grow wealth wisely. “In the current economic climate, you can’t afford to leave your money sitting idly. With the My Treasury Optimiser, there’s a much more intelligent way to save.”



Website:  My Treasury



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  • N A Gallichan (Mr)
    February 7, 2018 at 7:01 pm

    The “questionnaire” requires one to “agree to terms & conditions”, which terms and conditions, as far as I could tell, are not given. Clarify please.

    • Sonia
      February 8, 2018 at 1:57 pm

      Click on terms and conditions and it will frighten the living daylights out of you. They may transfer your personal details to a 3rd party

      . They want to know your personal details, amount of money you have, which bank you use, sorry….definately not for me.

      • Marilynh
        February 9, 2018 at 12:46 pm

        Dear Sonia

        thank you for your comments. We have asked My Treasury to respond urgently to your comments.

        Kind regards

      • Warren
        February 9, 2018 at 2:36 pm

        We need to connect our users with the Bank they choose in order to put your money to work, as such we need your permission to forward your details on to that financial institution. We never have had any complaints from our users about abusing their personal information. We are about helping people to make better informed financial decisions so we provide a platform that sifts through the complexity of finding you the best rate. We will never use your information recklessly.

        My Treasury Team

    • Marilynh
      February 9, 2018 at 12:47 pm

      Dear Mr Gallichan

      thank you for your query. We have asked My Treasury to respond directly to this.

      Kind regards

    • Warren
      February 9, 2018 at 2:27 pm


      You can see the T&C’s by clicking on the highlighted text which says ‘terms & conditions’.

      My Treasury team

  • Renee Whittle
    February 7, 2018 at 8:42 pm

    Hi there. What would the interest be on R100 000 invested over a 1 year period be please?

    Kind regards
    Renee Whittle

    • Marilynh
      February 9, 2018 at 12:47 pm

      Dear Renee

      We have asked My Treasury to respond to your query.

      Kind regards

    • Warren
      February 9, 2018 at 2:29 pm

      If you want to find the best rate for your criteria, then please input that data into the above optimiser and it will search that for you and give you the results.
      My Treasury team

    • Warren
      February 9, 2018 at 2:44 pm

      just to be clear we not allowed to give bespoke investment advice. Our platform is presenting you with the best rate for your requirements.

  • Rezaldon
    May 10, 2018 at 11:39 am

    This app does not work, it keeps saying “please complete all required fields” which is dumb, all the fields are entered….. why does this not work??

    • Marilynh
      May 10, 2018 at 2:18 pm

      Hi there. We have also tested this and you’re quite right, it is not working correctly. Our technical team are looking at the problem.

      Kind regards

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