These are the best Fixed Deposits in South Africa

all rates last updated 2nd August 2022

What are the best fixed deposit interest rates currently offered in South Africa?

BankTermsNominalEffective
1 SA Retail Bonds 60m1k 11.00% 11.3%
2 Access Bank Plc 60m500 10.10% 10.58%
3 African Bank 60m500 9.75% 10.2%
4 Standard Bank 60m10kP 9.65% 10.09%
5 Nedbank 60m1mP 9.60% 10.03%
P: only individuals older than 55 qualify
length of term. eg. 60m = 60 months
minimum deposit
* PS. RSA Retail bonds compound interest on a semi annual basis. That is why the effective annual rate is lower.
The best interest rate is 11.3% offered by SA Retail Bonds on a 60-month fixed deposit investment. This is the highest interest rate you will be able to get in South Africa. This is the effective annual rate. You will need a minimum investment of R 1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

best rates per investment period

click on any of the below to jump to the section
- Best 3 month fixed deposit rates
- Best 6 month fixed deposit rates
- Best 12 month fixed deposit rates
- Best 24 month fixed deposit rates
- Best 36 month fixed deposit rates
- Best 60 month fixed deposit rates

3m Best 3 month fixed deposit rates

NominalEffective
1 Access Bank Plc 5m 5.95% 6.11%
2 African Bank 500 5.85% 6.01%
3 Access Bank Plc 1m 5.84% 6%
4 Access Bank Plc 25k 5.74% 5.89%
5 Standard Bank 5m 5.73% 5.88%
View all 3-month rankings
The best interest rate for a 3-month fixed deposit is 6.11% offered by Access Bank Plc. This is the effective annual rate. You will need a minimum investment of R5m to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 3-month rankings where you can see all the rankings for different amounts and ages.

6m Best 6 month fixed deposit rates

NominalEffective
1 African Bank 500 6.79% 7.01%
2 Investec 100kP 6.71% 6.92%
3 Investec 100k 6.56% 6.76%
4 Standard Bank 10kP 6.54% 6.74%
5 Standard Bank 5m 6.53% 6.73%
View all 6-month rankings
The best interest rate for a 6-month fixed deposit is 7.01% offered by African Bank. This is the effective annual rate. You will need a minimum investment of R500 to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 6-month rankings where you can see all the rankings for different amounts and ages.

12m Best 12 month fixed deposit rates

NominalEffective
1 African Bank 500 7.87% 8.16%
2 Investec 100k 7.85% 8.14%
3 Standard Bank 10kP 7.62% 7.89%
4 Absa 1kP 7.55% 7.82%
5 Discovery 100k 7.50% 7.76%
View all 12-month rankings
The best interest rate for a 12-month fixed deposit is 8.16% offered by African Bank. This is the effective annual rate. You will need a minimum investment of R500 to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 12-month rankings where you can see all the rankings for different amounts and ages.

24m Best 24 month fixed deposit rates

NominalEffective
1 SA Retail Bonds 1k 9.25% 9.46%
2 African Bank 500 8.65% 9%
3 Standard Bank 10kP 8.55% 8.89%
4 Standard Bank 1P 8.25% 8.57%
5 Discovery 100k 8.25% 8.57%
View all 24-month rankings
The best interest rate for a 24-month fixed deposit is 9.46% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 24-month rankings where you can see all the rankings for different amounts and ages.

36m Best 36 month fixed deposit rates

NominalEffective
1 SA Retail Bonds 1k 9.75% 9.99%
2 African Bank 500 9.07% 9.46%
3 Standard Bank 10kP 8.99% 9.37%
4 Standard Bank 1P 8.69% 9.04%
5 Discovery 100k 8.50% 8.84%
View all 36-month rankings
The best interest rate for a 36-month fixed deposit is 9.99% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 36-month rankings where you can see all the rankings for different amounts and ages.

60m Best 60 month fixed deposit rates

NominalEffective
1 SA Retail Bonds 1k 11.00% 11.3%
2 Access Bank Plc 500 10.10% 10.58%
3 African Bank 500 9.75% 10.2%
4 Standard Bank 10kP 9.65% 10.09%
5 Nedbank 1mP 9.60% 10.03%
View all 60-month rankings
The best interest rate for a 60-month fixed deposit is 11.3% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.
PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 60-month rankings where you can see all the rankings for different amounts and ages.

Every basis point matters