African Bank vs Discovery

Interest rates compared

Last updated 1st November 2024 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 1st November 2024.

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
8.60%
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 8.6% 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+
8.19%
7.95%
+
6
R10,000 for 55+
8.19%
7.95%
+
6
R100,000 for 18+
8.19%
7.95%
+
59
R100,000 for 55+
8.19%
7.95%
+
59
R250,000 for 18+
8.19%
7.95%
+
147
R250,000 for 55+
8.19%
7.95%
+
147
R1,000,000 for 18+
8.19%
7.95%
+
588
R1,000,000 for 55+
8.19%
7.95%
+
588
  • 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 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 R588 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+
8.42%
8.25%
+
9
R10,000 for 55+
8.42%
8.25%
+
9
R100,000 for 18+
8.42%
8.25%
+
86
R100,000 for 55+
8.42%
8.25%
+
86
R250,000 for 18+
8.42%
8.25%
+
216
R250,000 for 55+
8.42%
8.25%
+
216
R1,000,000 for 18+
8.42%
8.25%
+
863
R1,000,000 for 55+
8.42%
8.25%
+
863
  • 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 8.42% 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 8.25%. Over 6 months you will earn R863 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%
8.30%
+
63
R10,000 for 55+
8.88%
8.30%
+
63
R100,000 for 18+
8.88%
8.30%
+
630
R100,000 for 55+
8.88%
8.30%
+
630
R250,000 for 18+
8.88%
8.30%
+
1,575
R250,000 for 55+
8.88%
8.30%
+
1,575
R1,000,000 for 18+
8.88%
8.30%
+
6,300
R1,000,000 for 55+
8.88%
8.30%
+
6,300
  • 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 8.30%. Over 12 months you will earn R6,300 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+
9.11%
8.10%
+
238
R10,000 for 55+
9.11%
8.10%
+
238
R100,000 for 18+
9.11%
8.10%
+
2,375
R100,000 for 55+
9.11%
8.10%
+
2,375
R250,000 for 18+
9.11%
8.10%
+
5,938
R250,000 for 55+
9.11%
8.10%
+
5,938
R1,000,000 for 18+
9.11%
8.10%
+
23,752
R1,000,000 for 55+
9.11%
8.10%
+
23,752
  • 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 9.11% 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 8.10%. Over 2 years you will earn R23,752 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+
9.21%
8.10%
+
428
R10,000 for 55+
9.21%
8.10%
+
428
R100,000 for 18+
9.21%
8.10%
+
4,278
R100,000 for 55+
9.21%
8.10%
+
4,278
R250,000 for 18+
9.21%
8.10%
+
10,695
R250,000 for 55+
9.21%
8.10%
+
10,695
R1,000,000 for 18+
9.21%
8.10%
+
42,780
R1,000,000 for 55+
9.21%
8.10%
+
42,780
  • 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 9.21% 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 R42,780 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%
8.60%
+
1,057
R10,000 for 55+
9.94%
8.60%
+
1,057
R100,000 for 18+
9.94%
8.60%
+
10,565
R100,000 for 55+
9.94%
8.60%
+
10,565
R250,000 for 18+
9.94%
8.60%
+
26,413
R250,000 for 55+
9.94%
8.60%
+
26,413
R1,000,000 for 18+
9.94%
8.60%
+
105,650
R1,000,000 for 55+
9.94%
8.60%
+
105,650
  • 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 8.60%. Over 5 years you will earn R105,650 more in interest at African Bank compared Discovery.

How do African Bank interest rates compare to other banks?