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Tauriq Keraan made new TymeBank CEO

Keraan takes over from Sandile Shabalala, who resigned in June.

TymeBank has appointed Tauriq Keraan as its new CEO, after Sandile Shabalala unexpectedly resigned in June. Keraan, previously the deputy CEO, played an instrumental role in the new digital bank’s development.

Nompu Siziba discusses the latest developments at the bank with Keraan and what the in-coming CEO’s plans are to take the enterprise forward.

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Another one bites the dust ……….

Mr Keraan, please tell us what happens to the interest rate on GoldSave accounts when SARB changes the repo-rate? This is the single most difficult information to get out of TymeBank!

TymeBank has NOT changed the interest rate we offer – the rate steps up from 6% per annum at day 1 to 7% after 30 days and then 9% after 90 days. If you’re willing to give 10 days’ notice, all interest earned is multiplied by a factor that takes the maximum rate to 10%. Rates are all annual, compounded monthly on the 1st day of the month. We will hold these rates as long as we can (we have not reduced the rates after the SARB’s 0.25% reduction). You can invest up to R100k across up to 10 GoalSave accounts, and you’ll always have immediate access to your funds. Opening a TymeBank account is free (and takes <5mins online or at a kiosk in PnP/Boxer), and there are no fees for internal transfers and no monthly fees. This is the best savings proposition on the market today!

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