African Bank Fixed Deposit Review for January 2025

Last updated 4th January 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 4th January 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 8.98%
3 R500 12 months 8.88%
4 R500 6 months 8.19%
5 R500 3 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+7.96% 7.40%
+
14
R10,000 for 55+7.96% 7.48%
+
12
R100,000 for 18+7.96% 7.48%
+
121
R100,000 for 55+7.96% 7.52%
+
113
R250,000 for 18+7.96% 7.50%
+
295
R250,000 for 55+7.96% 7.55%
+
259
R1,000,000 for 18+7.96% 7.57%
+
1,003
R1,000,000 for 55+7.96% 7.63%
+
852
R5,000,000 for 18+7.96% 7.54%
+
5,379
R5,000,000 for 55+7.96% 7.58%
+
4,787
How to read this table?

You get a 7.96% 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 7.40%. Over 3 months you will earn R14 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+8.19% 7.76%
+
22
R10,000 for 55+8.19% 7.76%
+
22
R100,000 for 18+8.19% 7.88%
+
158
R100,000 for 55+8.19% 7.83%
+
185
R250,000 for 18+8.19% 7.91%
+
361
R250,000 for 55+8.19% 7.86%
+
421
R1,000,000 for 18+8.19% 7.95%
+
1,223
R1,000,000 for 55+8.19% 7.94%
+
1,280
R5,000,000 for 18+8.19% 7.93%
+
6,531
R5,000,000 for 55+8.19% 7.92%
+
6,827
How to read this table?

You get a 8.19% 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 7.76%. Over 6 months you will earn R22 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+8.88% 8.08%
+
87
R10,000 for 55+8.88% 8.14%
+
81
R100,000 for 18+8.88% 8.27%
+
659
R100,000 for 55+8.88% 8.27%
+
655
R250,000 for 18+8.88% 8.30%
+
1,579
R250,000 for 55+8.88% 8.31%
+
1,530
R1,000,000 for 18+8.88% 8.34%
+
5,892
R1,000,000 for 55+8.88% 8.38%
+
5,386
R5,000,000 for 18+8.88% 8.36%
+
28,364
R5,000,000 for 55+8.88% 8.40%
+
25,917
How to read this table?

You get a 8.88% 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 8.08%. Over 12 months you will earn R87 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+8.88% 8.07%
+
194
R10,000 for 55+8.88% 8.11%
+
184
R100,000 for 18+8.88% 8.14%
+
1,766
R100,000 for 55+8.88% 8.15%
+
1,751
R250,000 for 18+8.88% 8.18%
+
4,178
R250,000 for 55+8.88% 8.19%
+
4,166
R1,000,000 for 18+8.88% 8.22%
+
15,845
R1,000,000 for 55+8.88% 8.26%
+
14,802
R5,000,000 for 18+8.88% 8.24%
+
77,358
R5,000,000 for 55+8.88% 8.24%
+
75,636
How to read this table?

You get a 8.88% 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 8.07%. Over 2 years you will earn R194 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+8.98% 8.18%
+
314
R10,000 for 55+8.98% 8.21%
+
301
R100,000 for 18+8.98% 8.26%
+
2,837
R100,000 for 55+8.98% 8.24%
+
2,886
R250,000 for 18+8.98% 8.30%
+
6,669
R250,000 for 55+8.98% 8.29%
+
6,823
R1,000,000 for 18+8.98% 8.34%
+
25,121
R1,000,000 for 55+8.98% 8.37%
+
23,982
R5,000,000 for 18+8.98% 8.37%
+
120,790
R5,000,000 for 55+8.98% 8.33%
+
124,601
How to read this table?

You get a 8.98% 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 8.18%. Over 3 years you will earn R314 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% 8.71%
+
985
R10,000 for 55+9.94% 8.77%
+
940
R100,000 for 18+9.94% 8.79%
+
9,192
R100,000 for 55+9.94% 8.78%
+
9,271
R250,000 for 18+9.94% 8.83%
+
22,260
R250,000 for 55+9.94% 8.82%
+
22,516
R1,000,000 for 18+9.94% 8.86%
+
86,516
R1,000,000 for 55+9.94% 8.89%
+
84,462
R5,000,000 for 18+9.94% 8.86%
+
436,726
R5,000,000 for 55+9.94% 8.78%
+
460,708
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 8.71%. Over 5 years you will earn R985 more in interest at African Bank compared to the average bank.