African Bank vs Discovery

Interest rates compared

Last updated 2nd February 2025 by Walter

Introduction

This fixed deposit comparison page compares African Bank interest rates to Discovery interest rates. All the interest rates shown are sourced from the African Bank 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 2nd February 2025.

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

You are more likely to find better interest rates at African Bank than Discovery. Specifically, 100 out of 100 interest rates are better at African Bank than Discovery. This means you are more likely to find a better interest rate at Discovery 0% 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
Discovery
8.50%
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 Discovery, the best interest rate you can get is 8.5% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

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

3 month fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
7.96%
7.40%
+
14
R10,000 for 55+
7.96%
7.40%
+
14
R100,000 for 18+
7.96%
7.40%
+
142
R100,000 for 55+
7.96%
7.40%
+
142
R250,000 for 18+
7.96%
7.40%
+
354
R250,000 for 55+
7.96%
7.40%
+
354
R1,000,000 for 18+
7.96%
7.40%
+
1,416
R1,000,000 for 55+
7.96%
7.40%
+
1,416
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 7.96% interest rate at African Bank 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 7.40%. Over 3 months you will earn R1,416 more in interest at African Bank compared Discovery.

6 month fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
8.19%
7.70%
+
25
R10,000 for 55+
8.19%
7.70%
+
25
R100,000 for 18+
8.19%
7.70%
+
250
R100,000 for 55+
8.19%
7.70%
+
250
R250,000 for 18+
8.19%
7.70%
+
625
R250,000 for 55+
8.19%
7.70%
+
625
R1,000,000 for 18+
8.19%
7.70%
+
2,499
R1,000,000 for 55+
8.19%
7.70%
+
2,499
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 8.19% interest rate at African Bank 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 7.70%. Over 6 months you will earn R2,499 more in interest at African Bank compared Discovery.

1 year fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
8.88%
8.05%
+
90
R10,000 for 55+
8.88%
8.05%
+
90
R100,000 for 18+
8.88%
8.05%
+
900
R100,000 for 55+
8.88%
8.05%
+
900
R250,000 for 18+
8.88%
8.05%
+
2,250
R250,000 for 55+
8.88%
8.05%
+
2,250
R1,000,000 for 18+
8.88%
8.05%
+
9,000
R1,000,000 for 55+
8.88%
8.05%
+
9,000
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 8.88% interest rate at African Bank 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 8.05%. Over 12 months you will earn R9,000 more in interest at African Bank compared Discovery.

2 year fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
8.88%
8.05%
+
196
R10,000 for 55+
8.88%
8.05%
+
196
R100,000 for 18+
8.88%
8.05%
+
1,958
R100,000 for 55+
8.88%
8.05%
+
1,958
R250,000 for 18+
8.88%
8.05%
+
4,896
R250,000 for 55+
8.88%
8.05%
+
4,896
R1,000,000 for 18+
8.88%
8.05%
+
19,584
R1,000,000 for 55+
8.88%
8.05%
+
19,584
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 8.88% interest rate at African Bank 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 8.05%. Over 2 years you will earn R19,584 more in interest at African Bank compared Discovery.

3 year fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
8.98%
8.10%
+
338
R10,000 for 55+
8.98%
8.10%
+
338
R100,000 for 18+
8.98%
8.10%
+
3,379
R100,000 for 55+
8.98%
8.10%
+
3,379
R250,000 for 18+
8.98%
8.10%
+
8,447
R250,000 for 55+
8.98%
8.10%
+
8,447
R1,000,000 for 18+
8.98%
8.10%
+
33,790
R1,000,000 for 55+
8.98%
8.10%
+
33,790
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 8.98% interest rate at African Bank 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 R33,790 more in interest at African Bank compared Discovery.

5 year fixed deposit interest rates compared

African Bank vs Discovery

This table shows African Bank'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 African Bank1Discovery1 Winner 2
R10,000 for 18+
9.94%
8.50%
+
1,134
R10,000 for 55+
9.94%
8.50%
+
1,134
R100,000 for 18+
9.94%
8.50%
+
11,338
R100,000 for 55+
9.94%
8.50%
+
11,338
R250,000 for 18+
9.94%
8.50%
+
28,346
R250,000 for 55+
9.94%
8.50%
+
28,346
R1,000,000 for 18+
9.94%
8.50%
+
113,384
R1,000,000 for 55+
9.94%
8.50%
+
113,384
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Discovery.
    A negative amount means that Discovery offers more than African Bank.
How to read this table?

You get a 9.94% interest rate at African Bank 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 8.50%. Over 5 years you will earn R113,384 more in interest at African Bank compared Discovery.

How do African Bank interest rates compare to other banks?