African Bank vs Absa

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

This fixed deposit comparison page compares African Bank interest rates to Absa interest rates. All the interest rates shown are sourced from the African Bank and Absa websites, respectively. All rates shown on this page have been converted to nominal rates! This allows for a fair comparison. Rates last updated 2nd September 2024.

How do African Bank fixed deposit interest rates compare to Absa ?

You are more likely to find better interest rates at African Bank than Absa. Specifically, 92 out of 100 interest rates are better at African Bank than Absa. This means you are more likely to find a better interest rate at Absa 8% 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)

African Bank
9.94%
best rate
Absa
9.20%
best rate

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 . Whilst at Absa, the best interest rate you can get is 9.2% for the 12-month fixed deposit. You will need a minimum deposit of R1,000 and be over the age of 55.

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

3 month fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
8.42%
7.85%
+
14
R10,000 for 55+
8.42%
8.10%
+
8
R100,000 for 18+
8.42%
7.85%
+
144
R100,000 for 55+
8.42%
8.10%
+
80
R250,000 for 18+
8.42%
7.85%
+
359
R250,000 for 55+
8.42%
8.10%
+
200
R1,000,000 for 18+
8.42%
7.85%
+
1,435
R1,000,000 for 55+
8.42%
8.10%
+
799
R5,000,000 for 18+
8.42%
7.85%
+
7,175
R5,000,000 for 55+
8.42%
8.10%
+
3,996
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 8.42% interest rate at African Bank for a R5,000,000 investment in a 3 month fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.10%. Over 3 months you will earn R3,996 more in interest at African Bank compared Absa.

6 month fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
8.65%
8.40%
+
13
R10,000 for 55+
8.65%
8.45%
+
10
R100,000 for 18+
8.65%
8.40%
+
129
R100,000 for 55+
8.65%
8.45%
+
101
R250,000 for 18+
8.65%
8.40%
+
323
R250,000 for 55+
8.65%
8.45%
+
252
R1,000,000 for 18+
8.65%
8.40%
+
1,294
R1,000,000 for 55+
8.65%
8.45%
+
1,006
R5,000,000 for 18+
8.65%
8.40%
+
6,469
R5,000,000 for 55+
8.65%
8.45%
+
5,031
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 8.65% interest rate at African Bank for a R5,000,000 investment in a 6 month fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.45%. Over 6 months you will earn R5,031 more in interest at African Bank compared Absa.

1 year fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
9.11%
8.95%
+
17
R10,000 for 55+
9.11%
9.20%
-
-10
R100,000 for 18+
9.11%
8.95%
+
170
R100,000 for 55+
9.11%
9.20%
-
-100
R250,000 for 18+
9.11%
8.95%
+
425
R250,000 for 55+
9.11%
9.20%
-
-250
R1,000,000 for 18+
9.11%
8.95%
+
1,700
R1,000,000 for 55+
9.11%
9.20%
-
-1,000
R5,000,000 for 18+
9.11%
8.95%
+
8,500
R5,000,000 for 55+
9.11%
9.20%
-
-5,000
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 9.11% interest rate at African Bank for a R5,000,000 investment in a 1 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 9.20%. Over 12 months you will earn R5,000 less in interest at African Bank compared Absa.

2 year fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
9.34%
8.00%
+
316
R10,000 for 55+
9.34%
8.05%
+
305
R100,000 for 18+
9.34%
8.00%
+
3,162
R100,000 for 55+
9.34%
8.05%
+
3,053
R250,000 for 18+
9.34%
8.00%
+
7,904
R250,000 for 55+
9.34%
8.05%
+
7,634
R1,000,000 for 18+
9.34%
8.00%
+
31,617
R1,000,000 for 55+
9.34%
8.05%
+
30,534
R5,000,000 for 18+
9.34%
8.00%
+
158,086
R5,000,000 for 55+
9.34%
8.05%
+
152,670
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 9.34% interest rate at African Bank for a R5,000,000 investment in a 2 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.05%. Over 2 years you will earn R152,670 more in interest at African Bank compared Absa.

3 year fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
9.44%
8.10%
+
518
R10,000 for 55+
9.44%
8.15%
+
500
R100,000 for 18+
9.44%
8.10%
+
5,181
R100,000 for 55+
9.44%
8.15%
+
5,005
R250,000 for 18+
9.44%
8.10%
+
12,953
R250,000 for 55+
9.44%
8.15%
+
12,512
R1,000,000 for 18+
9.44%
8.10%
+
51,811
R1,000,000 for 55+
9.44%
8.15%
+
50,047
R5,000,000 for 18+
9.44%
8.10%
+
259,056
R5,000,000 for 55+
9.44%
8.15%
+
250,237
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 9.44% interest rate at African Bank for a R5,000,000 investment in a 3 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.15%. Over 3 years you will earn R250,237 more in interest at African Bank compared Absa.

5 year fixed deposit interest rates compared

African Bank vs Absa

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

Investment amount African Bank1Absa1 Winner 2
R10,000 for 18+
9.94%
8.65%
+
1,021
R10,000 for 55+
9.94%
8.70%
+
979
R100,000 for 18+
9.94%
8.65%
+
10,212
R100,000 for 55+
9.94%
8.70%
+
9,789
R250,000 for 18+
9.94%
8.65%
+
25,531
R250,000 for 55+
9.94%
8.70%
+
24,471
R1,000,000 for 18+
9.94%
8.65%
+
102,125
R1,000,000 for 55+
9.94%
8.70%
+
97,885
R5,000,000 for 18+
9.94%
8.65%
+
510,623
R5,000,000 for 55+
9.94%
8.70%
+
489,426
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Absa.
    A negative amount means that Absa offers more than African Bank.
How to read this table?

You get a 9.94% interest rate at African Bank for a R5,000,000 investment in a 5 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.70%. Over 5 years you will earn R489,426 more in interest at African Bank compared Absa.

How do African Bank interest rates compare to other banks?