Absa vs Discovery

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

This fixed deposit comparison page compares Absa interest rates to Discovery interest rates. All the interest rates shown are sourced from the Absa and Discovery websites, respectively. All rates shown on this page have been converted to nominal rates! This allows for a fair comparison. Rates last updated 1st November 2024.

How do Absa fixed deposit interest rates compare to Discovery ?

You are more likely to find better interest rates at Discovery than Absa. Specifically, 46 out of 100 interest rates are better at Absa than Discovery. This means you are more likely to find a better interest rate at Discovery 54% of the time. (PS this was done by comparing all the interest rates on offer for different terms, investment amounts and age groups. Only terms which are offered by both banks are included in the comparison)

Absa
8.95%
best rate
Discovery
8.60%
best rate

The best interest rate you can get at Absa is 8.95% for the 12-month fixed deposit. You will need a minimum deposit of R1,000 . Whilst at Discovery, the best interest rate you can get is 8.6% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

But how do interest rates at Absa compare to Discovery across different terms and investment amounts?

3 month fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 month fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
7.85%
7.95%
-
-3
R10,000 for 18+
7.60%
7.95%
-
-9
R10,000 for 55+
8.10%
7.95%
+
4
R10,000 for 55+
7.90%
7.95%
-
-1
R100,000 for 18+
7.85%
7.95%
-
-26
R100,000 for 18+
7.60%
7.95%
-
-90
R100,000 for 55+
8.10%
7.95%
+
38
R100,000 for 55+
7.90%
7.95%
-
-14
R250,000 for 18+
7.85%
7.95%
-
-65
R250,000 for 18+
7.60%
7.95%
-
-224
R250,000 for 55+
8.10%
7.95%
+
94
R250,000 for 55+
7.90%
7.95%
-
-35
R1,000,000 for 18+
7.85%
7.95%
-
-259
R1,000,000 for 18+
7.60%
7.95%
-
-896
R1,000,000 for 55+
8.10%
7.95%
+
377
R1,000,000 for 55+
7.90%
7.95%
-
-141
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 7.9% interest rate at Absa for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 7.95%. Over 3 months you will earn R141 less in interest at Absa compared Discovery.

6 month fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 6 month fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
8.40%
8.25%
+
8
R10,000 for 18+
8.35%
8.25%
+
5
R10,000 for 55+
8.45%
8.25%
+
11
R10,000 for 55+
8.40%
8.25%
+
8
R100,000 for 18+
8.40%
8.25%
+
77
R100,000 for 18+
8.35%
8.25%
+
53
R100,000 for 55+
8.45%
8.25%
+
106
R100,000 for 55+
8.40%
8.25%
+
77
R250,000 for 18+
8.40%
8.25%
+
192
R250,000 for 18+
8.35%
8.25%
+
132
R250,000 for 55+
8.45%
8.25%
+
264
R250,000 for 55+
8.40%
8.25%
+
192
R1,000,000 for 18+
8.40%
8.25%
+
767
R1,000,000 for 18+
8.35%
8.25%
+
528
R1,000,000 for 55+
8.45%
8.25%
+
1,055
R1,000,000 for 55+
8.40%
8.25%
+
767
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 8.4% interest rate at Absa for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.25%. Over 6 months you will earn R767 more in interest at Absa compared Discovery.

1 year fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1 year fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
8.95%
8.30%
+
71
R10,000 for 18+
8.25%
8.30%
-
-5
R10,000 for 55+
8.85%
8.30%
+
60
R10,000 for 55+
8.30%
8.30%
-
0
R100,000 for 18+
8.95%
8.30%
+
710
R100,000 for 18+
8.25%
8.30%
-
-50
R100,000 for 55+
8.85%
8.30%
+
600
R100,000 for 55+
8.30%
8.30%
-
0
R250,000 for 18+
8.95%
8.30%
+
1,775
R250,000 for 18+
8.25%
8.30%
-
-125
R250,000 for 55+
8.85%
8.30%
+
1,500
R250,000 for 55+
8.30%
8.30%
-
0
R1,000,000 for 18+
8.95%
8.30%
+
7,100
R1,000,000 for 18+
8.25%
8.30%
-
-500
R1,000,000 for 55+
8.85%
8.30%
+
6,000
R1,000,000 for 55+
8.30%
8.30%
-
0
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 8.3% interest rate at Absa for a R1,000,000 investment in a 1 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.30%. Over 12 months you will earn R0 less in interest at Absa compared Discovery.

2 year fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
8.00%
8.10%
-
-24
R10,000 for 18+
8.00%
8.10%
-
-24
R10,000 for 55+
8.05%
8.10%
-
-13
R10,000 for 55+
8.05%
8.10%
-
-13
R100,000 for 18+
8.00%
8.10%
-
-238
R100,000 for 18+
8.00%
8.10%
-
-238
R100,000 for 55+
8.05%
8.10%
-
-130
R100,000 for 55+
8.05%
8.10%
-
-130
R250,000 for 18+
8.00%
8.10%
-
-596
R250,000 for 18+
8.00%
8.10%
-
-596
R250,000 for 55+
8.05%
8.10%
-
-325
R250,000 for 55+
8.05%
8.10%
-
-325
R1,000,000 for 18+
8.00%
8.10%
-
-2,384
R1,000,000 for 18+
8.00%
8.10%
-
-2,384
R1,000,000 for 55+
8.05%
8.10%
-
-1,301
R1,000,000 for 55+
8.05%
8.10%
-
-1,301
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 8.05% interest rate at Absa for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.10%. Over 2 years you will earn R1,301 less in interest at Absa compared Discovery.

3 year fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 year fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
8.10%
8.10%
-
0
R10,000 for 18+
8.05%
8.10%
-
-21
R10,000 for 55+
8.15%
8.10%
+
18
R10,000 for 55+
8.10%
8.10%
-
0
R100,000 for 18+
8.10%
8.10%
-
0
R100,000 for 18+
8.05%
8.10%
-
-211
R100,000 for 55+
8.15%
8.10%
+
176
R100,000 for 55+
8.10%
8.10%
-
0
R250,000 for 18+
8.10%
8.10%
-
0
R250,000 for 18+
8.05%
8.10%
-
-529
R250,000 for 55+
8.15%
8.10%
+
441
R250,000 for 55+
8.10%
8.10%
-
0
R1,000,000 for 18+
8.10%
8.10%
-
0
R1,000,000 for 18+
8.05%
8.10%
-
-2,114
R1,000,000 for 55+
8.15%
8.10%
+
1,764
R1,000,000 for 55+
8.10%
8.10%
-
0
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 8.1% interest rate at Absa for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.10%. Over 3 years you will earn R0 less in interest at Absa compared Discovery.

5 year fixed deposit interest rates compared

Absa vs Discovery

This table shows Absa's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit.

Investment amount Absa1Discovery1 Winner 2
R10,000 for 18+
8.65%
8.60%
+
35
R10,000 for 18+
8.60%
8.60%
-
0
R10,000 for 55+
8.70%
8.60%
+
78
R10,000 for 55+
8.65%
8.60%
+
35
R100,000 for 18+
8.65%
8.60%
+
353
R100,000 for 18+
8.60%
8.60%
-
0
R100,000 for 55+
8.70%
8.60%
+
777
R100,000 for 55+
8.65%
8.60%
+
353
R250,000 for 18+
8.65%
8.60%
+
881
R250,000 for 18+
8.60%
8.60%
-
0
R250,000 for 55+
8.70%
8.60%
+
1,941
R250,000 for 55+
8.65%
8.60%
+
881
R1,000,000 for 18+
8.65%
8.60%
+
3,526
R1,000,000 for 18+
8.60%
8.60%
-
0
R1,000,000 for 55+
8.70%
8.60%
+
7,765
R1,000,000 for 55+
8.65%
8.60%
+
3,526
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Absa over and above Discovery.
    A negative amount means that Discovery offers more than Absa.
How to read this table?

You get a 8.65% interest rate at Absa for a R1,000,000 investment in a 5 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.60%. Over 5 years you will earn R3,526 more in interest at Absa compared Discovery.

How do Absa interest rates compare to other banks?