What is Daily Income ?
Daily Earnings means with respect to an Account for any day during a calendar month a positive dollar amount equal to the product of (A) the positive Account Available Balance, if any, of such Account for such day, multiplied by (B) the Daily Earnings Rate for such day.
Average Daily Income In South Africa
The median salary in South Africa is 29,900 ZAR per month (USD 1,932.) This is equivalent to a median annual salary of 359,000 ZAR (USD 23,200.)
What does that mean? It means that 50% of the South African population earns less than 29,900 ZAR while the other half earns more than 29,900 ZAR.
How much does the average South African make a day?
The median wage in South Africa is R3,300, and each wage supports 3.5 people (R930 per person – or R30 per person, per day). According to Stats SA, of the 7.5 million households in major metros, approximately 28% live on less than R2,500 a month.
What is the average monthly wage in South Africa?
A person working in South Africa typically earns around 31,100 ZAR per month. Salaries range from 7,880 ZAR (lowest average) to 139,000 ZAR (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits.
What is South African minimum wage?
The department most recently updated South Africa’s minimum wage on 1 March 2022, with the amount set at R23. 19 for each ordinary hour worked, representing an increase of 6.9% from the minimum wage set in 2021.
According to Statistics South Africa’s employment report for the fourth quarter of 2021, the average worker’s salary in South Africa is R23,982 per month. This amounts to R287,784 annually.