Absa Fixed Deposit Review for May 2024
Introduction
This page summarises all the fixed deposits offered by Absa. All the rates shown are sourced from the Absa website - absa.co.za. All rates shown on this page have been converted to nominal and effective annual rates! This allows you to compare rates across all banks. Yippee!
The Absa fixed deposit interest calculator, allows you to calculate how much interest you will earn for your age, investment amount and term.
Absa fixed deposits highlights
last updated 1st May 2024 by Walter
Here are Absa's best fixed deposit rates
The best interest rate you can get at Absa is 9.55% for the 12-month fixed deposit. You will need a minimum deposit of R1,000,000 and be over the age of 55.
Here are Absa's five best fixed deposit interest rates:
| # | Min deposit | Term | Nominal | Effective |
|---|---|---|---|---|
| 1 | R1,000,000 P | 12 months | 9.55% | 9.98% |
| 2 | R100,000 P | 12 months | 9.50% | 9.92% |
| 3 | R100,000 P | 60 months | 9.45% | 9.87% |
| 4 | R1,000 P | 12 months | 9.40% | 9.82% |
| 5 | R1,000 | 60 months | 9.35% | 9.76% |
Absa 3 month fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 month fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 7.85% | 7.99% | - -3 |
| R10,000 for 55+ | 8.10% | 8.11% | - 0 |
| R100,000 for 18+ | 8.05% | 8.11% | - -15 |
| R100,000 for 55+ | 8.20% | 8.18% | + 5 |
| R250,000 for 18+ | 8.05% | 8.10% | - -34 |
| R250,000 for 55+ | 8.20% | 8.20% | + 2 |
| R1,000,000 for 18+ | 8.10% | 8.15% | - -112 |
| R1,000,000 for 55+ | 8.40% | 8.25% | + 370 |
| R5,000,000 for 18+ | 8.10% | 8.14% | - -534 |
| R5,000,000 for 55+ | 8.40% | 8.29% | + 1,431 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 7.85% | 7.99% | - -3 |
| R10,000 for 55+ | 8.10% | 8.11% | - 0 |
| R100,000 for 18+ | 8.05% | 8.11% | - -15 |
| R100,000 for 55+ | 8.20% | 8.18% | + 5 |
| R250,000 for 18+ | 8.05% | 8.10% | - -34 |
| R250,000 for 55+ | 8.20% | 8.20% | + 2 |
| R1,000,000 for 18+ | 8.10% | 8.15% | - -112 |
| R1,000,000 for 55+ | 8.40% | 8.25% | + 370 |
| R5,000,000 for 18+ | 8.10% | 8.14% | - -534 |
| R5,000,000 for 55+ | 8.40% | 8.29% | + 1,431 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 7.85% interest rate at Absa for a R10,000 investment in a 3 month fixed deposit (if you are older than 18). The industry average is 7.99%. Over 3 months you will earn R3 less in interest at Absa compared to the average bank.
Absa 6 month fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 6 month fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.35% | 8.34% | + 1 |
| R10,000 for 55+ | 8.60% | 8.45% | + 8 |
| R100,000 for 18+ | 8.60% | 8.51% | + 50 |
| R100,000 for 55+ | 8.70% | 8.56% | + 77 |
| R250,000 for 18+ | 8.60% | 8.53% | + 88 |
| R250,000 for 55+ | 8.70% | 8.58% | + 163 |
| R1,000,000 for 18+ | 8.80% | 8.57% | + 1,174 |
| R1,000,000 for 55+ | 8.80% | 8.62% | + 906 |
| R5,000,000 for 18+ | 8.80% | 8.60% | + 5,078 |
| R5,000,000 for 55+ | 8.80% | 8.67% | + 3,352 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.35% | 8.34% | + 1 |
| R10,000 for 55+ | 8.60% | 8.45% | + 8 |
| R100,000 for 18+ | 8.60% | 8.51% | + 50 |
| R100,000 for 55+ | 8.70% | 8.56% | + 77 |
| R250,000 for 18+ | 8.60% | 8.53% | + 88 |
| R250,000 for 55+ | 8.70% | 8.58% | + 163 |
| R1,000,000 for 18+ | 8.80% | 8.57% | + 1,174 |
| R1,000,000 for 55+ | 8.80% | 8.62% | + 906 |
| R5,000,000 for 18+ | 8.80% | 8.60% | + 5,078 |
| R5,000,000 for 55+ | 8.80% | 8.67% | + 3,352 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 8.35% interest rate at Absa for a R10,000 investment in a 6 month fixed deposit (if you are older than 18). The industry average is 8.34%. Over 6 months you will earn R1 more in interest at Absa compared to the average bank.
Absa 1 year fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1 year fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 9.10% | 8.88% | + 24 |
| R10,000 for 55+ | 9.40% | 8.99% | + 45 |
| R100,000 for 18+ | 9.20% | 9.06% | + 156 |
| R100,000 for 55+ | 9.50% | 9.11% | + 420 |
| R250,000 for 18+ | 9.20% | 9.08% | + 331 |
| R250,000 for 55+ | 9.50% | 9.16% | + 930 |
| R1,000,000 for 18+ | 9.25% | 9.10% | + 1,558 |
| R1,000,000 for 55+ | 9.55% | 9.18% | + 4,018 |
| R5,000,000 for 18+ | 9.25% | 9.13% | + 6,350 |
| R5,000,000 for 55+ | 9.55% | 9.22% | + 17,833 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 9.10% | 8.88% | + 24 |
| R10,000 for 55+ | 9.40% | 8.99% | + 45 |
| R100,000 for 18+ | 9.20% | 9.06% | + 156 |
| R100,000 for 55+ | 9.50% | 9.11% | + 420 |
| R250,000 for 18+ | 9.20% | 9.08% | + 331 |
| R250,000 for 55+ | 9.50% | 9.16% | + 930 |
| R1,000,000 for 18+ | 9.25% | 9.10% | + 1,558 |
| R1,000,000 for 55+ | 9.55% | 9.18% | + 4,018 |
| R5,000,000 for 18+ | 9.25% | 9.13% | + 6,350 |
| R5,000,000 for 55+ | 9.55% | 9.22% | + 17,833 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 9.1% interest rate at Absa for a R10,000 investment in a 1 year fixed deposit (if you are older than 18). The industry average is 8.88%. Over 12 months you will earn R24 more in interest at Absa compared to the average bank.
Absa 2 year fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.70% | 8.94% | - -51 |
| R10,000 for 55+ | 8.80% | 9.07% | - -60 |
| R100,000 for 18+ | 8.75% | 9.03% | - -616 |
| R100,000 for 55+ | 8.80% | 9.14% | - -759 |
| R250,000 for 18+ | 8.75% | 9.07% | - -1,812 |
| R250,000 for 55+ | 8.80% | 9.16% | - -2,068 |
| R1,000,000 for 18+ | 8.75% | 9.09% | - -7,683 |
| R1,000,000 for 55+ | 8.80% | 9.20% | - -9,050 |
| R5,000,000 for 18+ | 8.75% | 9.14% | - -44,017 |
| R5,000,000 for 55+ | 8.80% | 9.20% | - -47,683 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.70% | 8.94% | - -51 |
| R10,000 for 55+ | 8.80% | 9.07% | - -60 |
| R100,000 for 18+ | 8.75% | 9.03% | - -616 |
| R100,000 for 55+ | 8.80% | 9.14% | - -759 |
| R250,000 for 18+ | 8.75% | 9.07% | - -1,812 |
| R250,000 for 55+ | 8.80% | 9.16% | - -2,068 |
| R1,000,000 for 18+ | 8.75% | 9.09% | - -7,683 |
| R1,000,000 for 55+ | 8.80% | 9.20% | - -9,050 |
| R5,000,000 for 18+ | 8.75% | 9.14% | - -44,017 |
| R5,000,000 for 55+ | 8.80% | 9.20% | - -47,683 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 8.7% interest rate at Absa for a R10,000 investment in a 2 year fixed deposit (if you are older than 18). The industry average is 8.94%. Over 2 years you will earn R51 less in interest at Absa compared to the average bank.
Absa 3 year fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 year fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.85% | 9.11% | - -90 |
| R10,000 for 55+ | 8.90% | 9.23% | - -120 |
| R100,000 for 18+ | 8.85% | 9.26% | - -1,534 |
| R100,000 for 55+ | 8.90% | 9.37% | - -1,764 |
| R250,000 for 18+ | 8.85% | 9.31% | - -4,273 |
| R250,000 for 55+ | 8.90% | 9.40% | - -4,679 |
| R1,000,000 for 18+ | 8.85% | 9.33% | - -18,024 |
| R1,000,000 for 55+ | 8.90% | 9.44% | - -20,234 |
| R5,000,000 for 18+ | 8.85% | 9.40% | - -102,320 |
| R5,000,000 for 55+ | 8.90% | 9.42% | - -102,073 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 8.85% | 9.11% | - -90 |
| R10,000 for 55+ | 8.90% | 9.23% | - -120 |
| R100,000 for 18+ | 8.85% | 9.26% | - -1,534 |
| R100,000 for 55+ | 8.90% | 9.37% | - -1,764 |
| R250,000 for 18+ | 8.85% | 9.31% | - -4,273 |
| R250,000 for 55+ | 8.90% | 9.40% | - -4,679 |
| R1,000,000 for 18+ | 8.85% | 9.33% | - -18,024 |
| R1,000,000 for 55+ | 8.90% | 9.44% | - -20,234 |
| R5,000,000 for 18+ | 8.85% | 9.40% | - -102,320 |
| R5,000,000 for 55+ | 8.90% | 9.42% | - -102,073 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 8.85% interest rate at Absa for a R10,000 investment in a 3 year fixed deposit (if you are older than 18). The industry average is 9.11%. Over 3 years you will earn R90 less in interest at Absa compared to the average bank.
Absa 5 year fixed deposit
This table shows Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 9.35% | 9.70% | - -270 |
| R10,000 for 55+ | 9.40% | 9.83% | - -327 |
| R100,000 for 18+ | 9.40% | 9.83% | - -3,323 |
| R100,000 for 55+ | 9.45% | 9.91% | - -3,551 |
| R250,000 for 18+ | 9.40% | 9.88% | - -9,358 |
| R250,000 for 55+ | 9.45% | 9.95% | - -9,773 |
| R1,000,000 for 18+ | 9.40% | 9.90% | - -39,063 |
| R1,000,000 for 55+ | 9.45% | 10.00% | - -42,571 |
| R5,000,000 for 18+ | 9.40% | 10.00% | - -230,422 |
| R5,000,000 for 55+ | 9.45% | 9.94% | - -199,786 |
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 18+ | 9.35% | 9.70% | - -270 |
| R10,000 for 55+ | 9.40% | 9.83% | - -327 |
| R100,000 for 18+ | 9.40% | 9.83% | - -3,323 |
| R100,000 for 55+ | 9.45% | 9.91% | - -3,551 |
| R250,000 for 18+ | 9.40% | 9.88% | - -9,358 |
| R250,000 for 55+ | 9.45% | 9.95% | - -9,773 |
| R1,000,000 for 18+ | 9.40% | 9.90% | - -39,063 |
| R1,000,000 for 55+ | 9.45% | 10.00% | - -42,571 |
| R5,000,000 for 18+ | 9.40% | 10.00% | - -230,422 |
| R5,000,000 for 55+ | 9.45% | 9.94% | - -199,786 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average bank in South africa will give you more than Absa.
You get a 9.35% interest rate at Absa for a R10,000 investment in a 5 year fixed deposit (if you are older than 18). The industry average is 9.70%. Over 5 years you will earn R270 less in interest at Absa compared to the average bank.