African Bank Fixed Deposit Review for April 2025

Last updated 2nd April 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 April 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% 7.32%
+
10
R10,000 for 55+7.73% 7.34%
+
10
R100,000 for 18+7.73% 7.39%
+
85
R100,000 for 55+7.73% 7.41%
+
82
R250,000 for 18+7.73% 7.40%
+
211
R250,000 for 55+7.73% 7.45%
+
174
R1,000,000 for 18+7.73% 7.47%
+
666
R1,000,000 for 55+7.73% 7.52%
+
526
R5,000,000 for 18+7.73% 7.47%
+
3,272
R5,000,000 for 55+7.73% 7.51%
+
2,838
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 7.32%. Over 3 months you will earn R10 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% 7.69%
+
14
R10,000 for 55+7.96% 7.65%
+
16
R100,000 for 18+7.96% 7.77%
+
98
R100,000 for 55+7.96% 7.72%
+
125
R250,000 for 18+7.96% 7.80%
+
212
R250,000 for 55+7.96% 7.76%
+
261
R1,000,000 for 18+7.96% 7.84%
+
626
R1,000,000 for 55+7.96% 7.83%
+
677
R5,000,000 for 18+7.96% 7.84%
+
3,107
R5,000,000 for 55+7.96% 7.83%
+
3,404
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 7.69%. Over 6 months you will earn R14 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% 8.02%
+
43
R10,000 for 55+8.42% 8.04%
+
40
R100,000 for 18+8.42% 8.11%
+
336
R100,000 for 55+8.42% 8.10%
+
335
R250,000 for 18+8.42% 8.13%
+
767
R250,000 for 55+8.42% 8.15%
+
710
R1,000,000 for 18+8.42% 8.18%
+
2,608
R1,000,000 for 55+8.42% 8.22%
+
2,113
R5,000,000 for 18+8.42% 8.18%
+
13,050
R5,000,000 for 55+8.42% 8.22%
+
10,615
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 8.02%. Over 12 months you will earn R43 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% 8.05%
+
145
R10,000 for 55+8.65% 8.03%
+
148
R100,000 for 18+8.65% 8.10%
+
1,310
R100,000 for 55+8.65% 8.07%
+
1,384
R250,000 for 18+8.65% 8.14%
+
3,062
R250,000 for 55+8.65% 8.12%
+
3,171
R1,000,000 for 18+8.65% 8.17%
+
11,455
R1,000,000 for 55+8.65% 8.19%
+
11,108
R5,000,000 for 18+8.65% 8.19%
+
56,058
R5,000,000 for 55+8.65% 8.13%
+
60,329
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 8.05%. Over 2 years you will earn R145 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% 8.23%
+
205
R10,000 for 55+8.75% 8.20%
+
217
R100,000 for 18+8.75% 8.29%
+
1,820
R100,000 for 55+8.75% 8.22%
+
2,064
R250,000 for 18+8.75% 8.34%
+
4,127
R250,000 for 55+8.75% 8.28%
+
4,613
R1,000,000 for 18+8.75% 8.38%
+
14,957
R1,000,000 for 55+8.75% 8.36%
+
15,526
R5,000,000 for 18+8.75% 8.40%
+
71,451
R5,000,000 for 55+8.75% 8.29%
+
87,918
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 8.23%. Over 3 years you will earn R205 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% 8.75%
+
949
R10,000 for 55+9.94% 8.73%
+
966
R100,000 for 18+9.94% 8.82%
+
8,947
R100,000 for 55+9.94% 8.77%
+
9,323
R250,000 for 18+9.94% 8.86%
+
21,648
R250,000 for 55+9.94% 8.82%
+
22,418
R1,000,000 for 18+9.94% 8.90%
+
84,083
R1,000,000 for 55+9.94% 8.89%
+
84,374
R5,000,000 for 18+9.94% 8.88%
+
425,994
R5,000,000 for 55+9.94% 8.77%
+
465,021
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 8.75%. Over 5 years you will earn R949 more in interest at African Bank compared to the average bank.