SA's Best Fixed Deposit Rates
Standard Bank

South Africa's fixed deposit rates compared & updated on a monthly basis πŸ˜ƒ


Intro

πŸ‘‹ Hi, I'm Walter. I source fixed deposit rates from all the banks & update these rates on a monthly basis. The rates were all last updated 1st October.

What is the best fixed deposit interest rate currently offered in South Africa?

The best rate is 9.2% offered by SA Retail Bonds on a 60-month fixed deposit. This is the highest interest rate you will be able to get in South Africa. This is the effective annual rate. As are all rates shown on this website. You will need a minimum deposit of R 1k to get that interest rate.
See all the fixed deposit comparisons for R10k+ here - for seniors

What is the best interest rate for a R10 000 investment? For a R10 000 investment the best interest rate you can get is 9.2% offered by SA Retail Bonds. You will need to deposit it for 60 months to earn that interest rate. This is followed by African Bank with a rate of 8.81%. In third place is Fedgroup with a rate of 7.87%
See all the fixed deposit comparisons for R10k here
See all the fixed deposit comparisons for R10k here - for seniors

What is the best interest rate for a R100 000 investment? For a R100 000 investment the best interest rate you can get is 9.2% offered by SA Retail Bonds. You will need to deposit it for 60 months to earn that interest rate. This is followed by Standard Bank with a rate of 8.84%. In third place is Capitec with a rate of 8.84%
See all the fixed deposit comparisons for R100k here
See all the fixed deposit comparisons for R100k here - for seniors

What is the best interest rate for a R1m+ investment? For a R1m investment the best interest rate you can get is 9.2% offered by SA Retail Bonds. You will need to deposit it for 60 months to earn that interest rate. This is followed by Capitec with a rate of 8.84%. In third place is Standard Bank with a rate of 8.84%
See all the fixed deposit comparisons for R1m here
See all the fixed deposit comparisons for R1m here - for seniors

What is the best interest rate for seniors? For a R1m investment the best interest rate you can get is 9.2% offered by SA Retail Bonds. This is followed by Nedbank with a rate of 8.88%. In third place is Standard Bank with a rate of 8.84%
See all the fixed deposit comparisons for R1m here - for seniors

You typically get a better rate the longer you deposit your money at a bank. Secondly, some banks give you a better rate if you deposit more money & some pay bonus rates if you are older than 55. That is why I rank the fixed deposits rates offered by banks by the term of the investment, the investment amount and whether you are younger or older than 55.

I rank deposits by term, amount and age

You can check out the latest rankings here or use my calculator if you have a specific amount of money in mind. My tax calculator will tell you how much tax you will pay on your fixed deposit investments.

Here is to finding the best interest rate for your needs,
Walter

P.S you can read more about this site & why I started it here


Here is a short overview of the best fixed deposit rates for a R 10k investment
To see the rankings for different amounts head to the Latest Rankings


Best 3 Month Rates
Bidvest 4.48 %
African Bank 4.25 %
Grobank 3.8 %
Discovery Bank 3.66 %
Absa 3.45 %
View more ...
Best 6 Month Rates
Bidvest 4.98 %
African Bank 4.75 %
Discovery Bank 4.39 %
Grobank 4.2 %
Absa 3.97 %
View more ...
Best 12 Month Rates
African Bank 5.76 %
Bidvest 5.69 %
Discovery Bank 5.01 %
Grobank 4.95 %
Nedbank 4.59 %
View more ...
Best 2 Year Rates
African Bank 6.71 %
SA Retail Bonds 6.61 %
Discovery Bank 6.38 %
Grobank 5.6 %
FNB 5.06 %
View more ...
Best 3 Year Rates
SA Retail Bonds 7.64 %
African Bank 7.15 %
Discovery Bank 6.64 %
Grobank 5.81 %
FNB 5.69 %
View more ...
Best 5 Year Rates
SA Retail Bonds 9.2 %
African Bank 8.81 %
Fedgroup 7.87 %
Discovery Bank 7.5 %
Absa 6.91 %
View more ...

Latest from RateCompare.co.za blog

Read more

Some reader questions answered

Three reader questions answered

2 min read

Read more

October 2021 Update

Fixed deposits update for October 2021

1 min read

Read more

August 2021 Update

Fixed deposits update for August 2021

1 min read

Read more

June 2021 Update

Fixed deposits update for June 2021

1 min read

Read more

May 2021 Update

Fixed deposits update for May 2021

1 min read

Read more

April 2021 Update

Fixed deposits update for April

1 min read

Read more

February 2021 Update

Some good news for savers.

1 min read

Read more

December 2020 Update

Ground hog day.

1 min read

Read more

October 2020 Update

Ground hog day.

1 min read

Read more

September 2020 Update

Sorry savers ...

1 min read

Read more

August 2020 Update

Further decreases ...

1 min read

Read more

May 2020 Update

Rates dropping like flies

1 min read

Read more

April 2020 Update

Rates lowered. But still attractive looking at historic rates

1 min read

Read more

March 2020 Update

RSA Retail bonds offer highest rates since their launch in 2004

1 min read

Read more

Feb 2020 Update

Rates lower. Again

1 min read

Read more

Jan 2020 Update

SARB lowers rates

1 min read

Read more

FedGroup's Response To Misleading 11.3% 'Effective' Rate 😌

FedGroup responds quickly to our outcry

1 min read

Read more

FedGroup's misleading 11.3% 'Effective' Rate 😑😑😑

FedGroup has got some of the best rates in the country. But be careful. They are not as good as advertised.

2 min read

Read more

Say hello to Rate Compare πŸ‘ΆπŸŽ‰πŸ’š

A new comparison site is born!

1 min read

Every basis point matters