African Bank
vs
Discovery
Interest rates compared
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 4th July 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, 94 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 6% 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)
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 R1,000,000 . Whilst at Discovery, the best interest rate you can get is 8.35% 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
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 7.35% | 7.40% | - -14 |
| R100,000 for 55+ | 7.35% | 7.40% | - -14 |
| R250,000 for 18+ | 7.54% | 7.40% | + 89 |
| R250,000 for 55+ | 7.54% | 7.40% | + 89 |
| R1,000,000 for 18+ | 7.73% | 7.40% | + 827 |
| R1,000,000 for 55+ | 7.73% | 7.40% | + 827 |
- 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.
You get a 7.73% 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 R827 more in interest at African Bank compared Discovery.
6 month fixed deposit interest rates compared
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 7.82% | 7.55% | + 140 |
| R100,000 for 55+ | 7.82% | 7.55% | + 140 |
| R250,000 for 18+ | 7.91% | 7.55% | + 457 |
| R250,000 for 55+ | 7.91% | 7.55% | + 457 |
| R1,000,000 for 18+ | 7.91% | 7.55% | + 1,828 |
| R1,000,000 for 55+ | 7.91% | 7.55% | + 1,828 |
- 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.
You get a 7.91% 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 7.55%. Over 6 months you will earn R1,828 more in interest at African Bank compared Discovery.
1 year fixed deposit interest rates compared
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 8.19% | 7.65% | + 580 |
| R100,000 for 55+ | 8.19% | 7.65% | + 580 |
| R250,000 for 18+ | 8.28% | 7.65% | + 1,700 |
| R250,000 for 55+ | 8.28% | 7.65% | + 1,700 |
| R1,000,000 for 18+ | 8.38% | 7.65% | + 7,900 |
| R1,000,000 for 55+ | 8.38% | 7.65% | + 7,900 |
- 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.
You get a 8.38% 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 7.65%. Over 12 months you will earn R7,900 more in interest at African Bank compared Discovery.
2 year fixed deposit interest rates compared
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 8.33% | 7.70% | + 1,473 |
| R100,000 for 55+ | 8.33% | 7.70% | + 1,473 |
| R250,000 for 18+ | 8.47% | 7.70% | + 4,498 |
| R250,000 for 55+ | 8.47% | 7.70% | + 4,498 |
| R1,000,000 for 18+ | 8.65% | 7.70% | + 22,132 |
| R1,000,000 for 55+ | 8.65% | 7.70% | + 22,132 |
- 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.
You get a 8.65% 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 7.70%. Over 2 years you will earn R22,132 more in interest at African Bank compared Discovery.
3 year fixed deposit interest rates compared
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 8.61% | 7.85% | + 2,899 |
| R100,000 for 55+ | 8.61% | 7.85% | + 2,899 |
| R250,000 for 18+ | 8.75% | 7.85% | + 8,584 |
| R250,000 for 55+ | 8.75% | 7.85% | + 8,584 |
| R1,000,000 for 18+ | 8.75% | 7.85% | + 34,336 |
| R1,000,000 for 55+ | 8.75% | 7.85% | + 34,336 |
- 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.
You get a 8.75% 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 7.85%. Over 3 years you will earn R34,336 more in interest at African Bank compared Discovery.
5 year fixed deposit interest rates compared
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 Bank1 | Discovery1 | Winner 2 |
|---|---|---|---|
| R100,000 for 18+ | 9.34% | 8.35% | + 7,612 |
| R100,000 for 55+ | 9.34% | 8.35% | + 7,612 |
| R250,000 for 18+ | 9.57% | 8.35% | + 23,585 |
| R250,000 for 55+ | 9.57% | 8.35% | + 23,585 |
| R1,000,000 for 18+ | 9.94% | 8.35% | + 124,578 |
| R1,000,000 for 55+ | 9.94% | 8.35% | + 124,578 |
- 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.
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 8.35%. Over 5 years you will earn R124,578 more in interest at African Bank compared Discovery.
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