Frequently asked questions

Which bank pays the highest senior bonus interest rates

It pays to be a senior in some cases :). This article lists which banks give better interest rates for senior South African citizens.

Top Bonus rates paid by banks

Standard Bank pays up to 0.55% in senior bonus rates
FNB pays up to 0.49% in senior bonus rates
Nedbank pays up to 0.44% in senior bonus rates
Absa pays up to 0.32% in senior bonus rates
Investec pays up to 0.17% in senior bonus rates
Bidvest pays up to 0.05% in senior bonus rates

* interest rates last sourced and converted to effective annual rates 2nd April 2024

Standard Bank

Here are all of Standard Bank's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at Standard Bank. Senior means older than 55. Standard Bank will give you an added "senior bonus rate" of up to 0.55 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R5,000,000	60 months	10.03	10.03	0
R1,000,000	60 months	10.03	10.03	0
R500,000	60 months	10.03	10.03	0
R100,000	60 months	10.03	10.03	0
R10,000	60 months	8.9	9.45	0.55
R1	60 months	7.99	8.53	0.54
R5,000,000	48 months	9.66	9.66	0
R1,000,000	48 months	9.66	9.66	0
R500,000	48 months	9.66	9.66	0
R100,000	48 months	9.66	9.66	0
R10,000	48 months	8.57	9.11	0.54
R1	48 months	7.66	8.19	0.53
R5,000,000	36 months	9.4	9.4	0
R1,000,000	36 months	9.4	9.4	0
R500,000	36 months	9.4	9.4	0
R100,000	36 months	9.4	9.4	0
R10,000	36 months	8.35	8.89	0.54
R1	36 months	7.44	7.98	0.54
R5,000,000	24 months	9.27	9.27	0
R1,000,000	24 months	9.27	9.27	0
R500,000	24 months	9.27	9.27	0
R100,000	24 months	9.27	9.27	0
R10,000	24 months	8.31	8.85	0.54
R1	24 months	7.4	7.93	0.53
R5,000,000	18 months	9.24	9.24	0
R1,000,000	18 months	9.24	9.24	0
R500,000	18 months	9.24	9.24	0
R100,000	18 months	9.24	9.24	0
R10,000	18 months	8.4	8.94	0.54
R1	18 months	7.49	8.02	0.53
R5,000,000	12 months	9.1	9.1	0
R1,000,000	12 months	9.03	9.03	0
R500,000	12 months	8.98	8.98	0
R100,000	12 months	8.93	8.93	0
R10,000	12 months	8.34	8.88	0.54
R1	12 months	7.43	7.97	0.54
R5,000,000	11 months	9.08	9.08	0
R1,000,000	11 months	9.01	9.01	0
R500,000	11 months	8.96	8.96	0
R100,000	11 months	8.91	8.91	0
R5,000,000	10 months	9.01	9.01	0
R1,000,000	10 months	8.95	8.95	0
R500,000	10 months	8.89	8.89	0
R100,000	10 months	8.84	8.84	0
R5,000,000	9 months	8.97	8.97	0
R1,000,000	9 months	8.9	8.9	0
R500,000	9 months	8.85	8.85	0
R100,000	9 months	8.8	8.8	0
R10,000	9 months	8.17	8.71	0.54
R1	9 months	7.26	7.8	0.54
R5,000,000	8 months	8.95	8.95	0
R1,000,000	8 months	8.88	8.88	0
R500,000	8 months	8.83	8.83	0
R100,000	8 months	8.78	8.78	0
R5,000,000	7 months	8.88	8.88	0
R1,000,000	7 months	8.81	8.81	0
R500,000	7 months	8.76	8.76	0
R100,000	7 months	8.71	8.71	0
R5,000,000	6 months	8.84	8.84	0
R1,000,000	6 months	8.76	8.76	0
R500,000	6 months	8.71	8.71	0
R100,000	6 months	8.66	8.66	0
R10,000	6 months	8.17	8.71	0.54
R1	6 months	7.26	7.8	0.54
R5,000,000	5 months	8.76	8.76	0
R1,000,000	5 months	8.69	8.69	0
R500,000	5 months	8.64	8.64	0
R100,000	5 months	8.59	8.59	0
R5,000,000	4 months	8.69	8.69	0
R1,000,000	4 months	8.62	8.62	0
R500,000	4 months	8.56	8.56	0
R100,000	4 months	8.51	8.51	0
R10,000	4 months	8.05	8.59	0.54
R1	4 months	7.14	7.68	0.54
R5,000,000	3 months	8.61	8.61	0
R1,000,000	3 months	8.54	8.54	0
R500,000	3 months	8.49	8.49	0
R100,000	3 months	8.43	8.43	0
R10,000	3 months	8.05	8.59	0.54
R1	3 months	7.14	7.68	0.54
R5,000,000	2 months	8.57	8.57	0
R1,000,000	2 months	8.49	8.49	0
R500,000	2 months	8.44	8.44	0
R100,000	2 months	8.38	8.38	0
R10,000	2 months	7.99	8.53	0.54
R1	2 months	7.08	7.61	0.53

All these rates were last updated 2nd Aprild are shown as annual effecive rates.

FNB

Here are all of FNB's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at FNB. Senior means older than 55. FNB will give you an added "senior bonus rate" of up to 0.49 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R1,000,000	60 months	9.71	10.09	0.38
R500,000	60 months	9.65	9.98	0.33
R250,000	60 months	9.6	9.92	0.32
R10,000	60 months	9.54	9.87	0.33
R1,000,000	48 months	9.38	9.76	0.38
R500,000	48 months	9.33	9.65	0.32
R250,000	48 months	9.27	9.6	0.33
R10,000	48 months	9.22	9.54	0.32
R1,000,000	36 months	9.27	9.71	0.44
R500,000	36 months	9.22	9.6	0.38
R250,000	36 months	9.16	9.54	0.38
R10,000	36 months	9.11	9.49	0.38
R1,000,000	24 months	9.16	9.65	0.49
R500,000	24 months	9.11	9.54	0.43
R250,000	24 months	9.06	9.49	0.43
R10,000	24 months	9	9.43	0.43
R1,000,000	12 months	9.06	9.54	0.48
R500,000	12 months	9	9.49	0.49
R250,000	12 months	8.95	9.43	0.48
R10,000	12 months	8.89	9.38	0.49
R1,000,000	6 months	8.46	8.89	0.43
R500,000	6 months	8.41	8.79	0.38
R250,000	6 months	8.35	8.73	0.38
R10,000	6 months	8.3	8.68	0.38
R1,000,000	3 months	8.3	8.68	0.38
R500,000	3 months	8.25	8.62	0.37
R250,000	3 months	8.19	8.57	0.38
R10,000	3 months	8.14	8.52	0.38

All these rates were last updated 2nd Aprild are shown as annual effecive rates.

Nedbank

Electronic OptimumPlus. An exclusively online Fixed Deposit for clients 55 years and older.

Here are all of Nedbank's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at Nedbank. Senior means older than 55. Nedbank will give you an added "senior bonus rate" of up to 0.44 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R1,000,000	60 months	9.82	10.26	0.44
R250,000	60 months	10.26	10.14	-0.12
R25,000	60 months	9.6	9.87	0.27
R1,000	60 months	9.38	9.76	0.38
R1,000,000	36 months	9.16	9.38	0.22
R250,000	36 months	9.38	9.27	-0.11
R25,000	36 months	9	9.16	0.16
R1,000	36 months	8.79	8.95	0.16
R1,000,000	24 months	9.11	9.33	0.22
R250,000	24 months	9.33	9.22	-0.11
R25,000	24 months	8.95	9.11	0.16
R1,000	24 months	8.73	8.89	0.16
R1,000,000	18 months	9.06	9.27	0.21
R250,000	18 months	9.27	9.16	-0.11
R25,000	18 months	8.89	9.06	0.17
R1,000	18 months	8.68	8.84	0.16
R1,000,000	12 months	9.38	9.71	0.33
R250,000	12 months	9.71	9.65	-0.06
R25,000	12 months	9.22	9.22	0
R1,000	12 months	9	9	0
R1,000,000	6 months	8.89	9	0.11
R250,000	6 months	9	8.89	-0.11
R25,000	6 months	8.68	8.79	0.11
R1,000	6 months	8.46	8.57	0.11
R1,000,000	3 months	8.25	8.41	0.16
R250,000	3 months	8.08	8.3	0.22
R25,000	3 months	8.03	8.19	0.16
R1,000	3 months	7.82	7.98	0.16

All these rates were last updated 2nd Aprild are shown as annual effecive rates.

Absa

If you are over 55, you can qualify for bonus interest

Here are all of Absa's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at Absa. Senior means older than 55. Absa will give you an added "senior bonus rate" of up to 0.32 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R1,000,000	60 months	9.82	9.87	0.05
R100,000	60 months	9.82	9.87	0.05
R1,000	60 months	9.76	9.82	0.06
R1,000,000	48 months	9.43	9.54	0.11
R100,000	48 months	9.43	9.49	0.06
R1,000	48 months	9.22	9.43	0.21
R1,000,000	36 months	9.22	9.27	0.05
R100,000	36 months	9.22	9.27	0.05
R1,000	36 months	9.22	9.27	0.05
R1,000,000	24 months	9.11	9.16	0.05
R100,000	24 months	9.11	9.16	0.05
R1,000	24 months	9.06	9.16	0.1
R1,000,000	12 months	9.43	9.71	0.28
R100,000	12 months	9.38	9.65	0.27
R1,000	12 months	9.38	9.54	0.16
R1,000,000	6 months	9.16	9.16	0
R100,000	6 months	8.95	9.06	0.11
R1,000	6 months	8.68	8.95	0.27
R1,000,000	3 months	8.41	8.73	0.32
R100,000	3 months	8.35	8.52	0.17
R1,000	3 months	8.14	8.41	0.27

All these rates were last updated 2nd Aprild are shown as annual effecive rates.

Investec

Here are all of Investec's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at Investec. Senior means older than 55. Investec will give you an added "senior bonus rate" of up to 0.17 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R100,000	60 months	9.94	10.1	0.16
R100,000	24 months	9.17	9.34	0.17
R100,000	12 months	9.43	9.54	0.11
R100,000	6 months	8.76	8.93	0.17

All these rates were last updated 2nd Aprild are shown as annual effecive rates.

Bidvest

Pensioners over 55 qualify for preferential rates on the 12-month fixed deposit.

Here are all of Bidvest's fixed deposit rates. I have included an additional "bonus rate" column. This is the additional amount of interest you are able to achieve because you are a senior at Bidvest. Senior means older than 55. Bidvest will give you an added "senior bonus rate" of up to 0.05 % .

Min Deposit	Investment term	Normal rate %	Senior rate %	Senior bonus %
R10,000	12 months	9.5	9.55	0.05
R10,000	6 months	9.27	9.27	0
R10,000	3 months	8.88	8.88	0

All these rates were last updated 2nd Aprild are shown as annual effecive rates.