African Bank Fixed Deposit Review for May 2025

Last updated 2nd May 2025 by Walter

Introduction

This page summarises all the fixed deposits offered by African Bank. All the rates shown are sourced from the African Bank website - africanbank.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 African Bank fixed deposit interest calculator, allows you to calculate how much interest you will earn for your age, investment amount and term.

African Bank fixed deposits highlights

last updated 2nd May 2025 by Walter

R500
min deposit
9.94%
best rate

Here are African Bank's best fixed deposit rates

The best interest rate you can get at African Bank is 9.94% for the 60-month fixed deposit. You will need a minimum deposit of R500 .

Here are African Bank's five best fixed deposit interest rates:

# Min deposit Term Nominal
1 R500 60 months 9.94%
2 R500 36 months 8.75%
3 R500 24 months 8.65%
4 R500 12 months 8.42%
5 R500 6 months 7.96%
P
only individuals older than 55 qualify

African Bank 3 month fixed deposit

This table shows African Bank'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+7.73% 7.22%
+
13
R10,000 for 55+7.73% 7.24%
+
12
R100,000 for 18+7.73% 7.33%
+
102
R100,000 for 55+7.73% 7.33%
+
101
R250,000 for 18+7.73% 7.33%
+
251
R250,000 for 55+7.73% 7.37%
+
225
R1,000,000 for 18+7.73% 7.40%
+
837
R1,000,000 for 55+7.73% 7.44%
+
738
R5,000,000 for 18+7.73% 7.40%
+
4,162
R5,000,000 for 55+7.73% 7.42%
+
3,902
How to read this table?

You get a 7.73% interest rate at African Bank for a R10,000 investment in a 3 month fixed deposit (if you are older than 18). The industry average is 7.22%. Over 3 months you will earn R13 more in interest at African Bank compared to the average bank.

African Bank 6 month fixed deposit

This table shows African Bank'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+7.96% 7.52%
+
23
R10,000 for 55+7.96% 7.50%
+
24
R100,000 for 18+7.96% 7.58%
+
199
R100,000 for 55+7.96% 7.58%
+
196
R250,000 for 18+7.96% 7.57%
+
512
R250,000 for 55+7.96% 7.62%
+
439
R1,000,000 for 18+7.96% 7.63%
+
1,704
R1,000,000 for 55+7.96% 7.69%
+
1,392
R5,000,000 for 18+7.96% 7.67%
+
7,679
R5,000,000 for 55+7.96% 7.69%
+
7,046
How to read this table?

You get a 7.96% interest rate at African Bank for a R10,000 investment in a 6 month fixed deposit (if you are older than 18). The industry average is 7.52%. Over 6 months you will earn R23 more in interest at African Bank compared to the average bank.

African Bank 1 year fixed deposit

This table shows African Bank'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+8.42% 7.81%
+
65
R10,000 for 55+8.42% 7.83%
+
63
R100,000 for 18+8.42% 7.87%
+
585
R100,000 for 55+8.42% 7.90%
+
552
R250,000 for 18+8.42% 7.88%
+
1,446
R250,000 for 55+8.42% 7.96%
+
1,218
R1,000,000 for 18+8.42% 7.92%
+
5,314
R1,000,000 for 55+8.42% 8.03%
+
4,147
R5,000,000 for 18+8.42% 7.94%
+
25,818
R5,000,000 for 55+8.42% 8.02%
+
21,462
How to read this table?

You get a 8.42% interest rate at African Bank for a R10,000 investment in a 1 year fixed deposit (if you are older than 18). The industry average is 7.81%. Over 12 months you will earn R65 more in interest at African Bank compared to the average bank.

African Bank 2 year fixed deposit

This table shows African Bank'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+8.65% 7.83%
+
196
R10,000 for 55+8.65% 7.83%
+
194
R100,000 for 18+8.65% 7.89%
+
1,817
R100,000 for 55+8.65% 7.87%
+
1,854
R250,000 for 18+8.65% 7.93%
+
4,306
R250,000 for 55+8.65% 7.92%
+
4,329
R1,000,000 for 18+8.65% 7.96%
+
16,397
R1,000,000 for 55+8.65% 7.99%
+
15,664
R5,000,000 for 18+8.65% 7.97%
+
81,389
R5,000,000 for 55+8.65% 7.94%
+
83,500
How to read this table?

You get a 8.65% interest rate at African Bank for a R10,000 investment in a 2 year fixed deposit (if you are older than 18). The industry average is 7.83%. Over 2 years you will earn R196 more in interest at African Bank compared to the average bank.

African Bank 3 year fixed deposit

This table shows African Bank'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+8.75% 7.97%
+
304
R10,000 for 55+8.75% 7.98%
+
300
R100,000 for 18+8.75% 8.04%
+
2,757
R100,000 for 55+8.75% 8.01%
+
2,867
R250,000 for 18+8.75% 8.09%
+
6,479
R250,000 for 55+8.75% 8.07%
+
6,626
R1,000,000 for 18+8.75% 8.13%
+
24,442
R1,000,000 for 55+8.75% 8.14%
+
23,642
R5,000,000 for 18+8.75% 8.13%
+
121,988
R5,000,000 for 55+8.75% 8.07%
+
129,876
How to read this table?

You get a 8.75% interest rate at African Bank for a R10,000 investment in a 3 year fixed deposit (if you are older than 18). The industry average is 7.97%. Over 3 years you will earn R304 more in interest at African Bank compared to the average bank.

African Bank 5 year fixed deposit

This table shows African Bank'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+9.94% 8.60%
+
1,066
R10,000 for 55+9.94% 8.57%
+
1,088
R100,000 for 18+9.94% 8.65%
+
10,283
R100,000 for 55+9.94% 8.60%
+
10,677
R250,000 for 18+9.94% 8.69%
+
25,007
R250,000 for 55+9.94% 8.64%
+
25,808
R1,000,000 for 18+9.94% 8.72%
+
97,597
R1,000,000 for 55+9.94% 8.71%
+
98,022
R5,000,000 for 18+9.94% 8.68%
+
503,210
R5,000,000 for 55+9.94% 8.55%
+
547,100
How to read this table?

You get a 9.94% interest rate at African Bank for a R10,000 investment in a 5 year fixed deposit (if you are older than 18). The industry average is 8.60%. Over 5 years you will earn R1,066 more in interest at African Bank compared to the average bank.