African Bank vs Discovery

Interest rates compared

Last updated 1st March 2026 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 March 2026.

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, 92 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 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
Discovery
7.35%
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 R1,000,000 . Whilst at Discovery, the best interest rate you can get is 7.35% 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

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+
6.51%
6.60%
-
-2
R100,000 for 18+
6.51%
6.60%
-
-23
R250,000 for 18+
6.65%
6.60%
+
32
R1,000,000 for 18+
6.79%
6.60%
+
480
  • 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 6.79% interest rate at African Bank for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 18). Discovery's interest rate for the same terms is 6.60%. Over 3 months you will earn R480 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+
6.93%
6.80%
+
7
R100,000 for 18+
7.02%
6.80%
+
113
R250,000 for 18+
7.02%
6.80%
+
283
R1,000,000 for 18+
7.26%
6.80%
+
2,368
  • 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 7.26% interest rate at African Bank for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 18). Discovery's interest rate for the same terms is 6.80%. Over 6 months you will earn R2,368 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+
7.31%
7.00%
+
33
R100,000 for 18+
7.40%
7.00%
+
427
R250,000 for 18+
7.49%
7.00%
+
1,309
R1,000,000 for 18+
7.59%
7.00%
+
6,307
  • 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 7.59% interest rate at African Bank for a R1,000,000 investment in a 1 year fixed deposit (if you are older than 18). Discovery's interest rate for the same terms is 7.00%. Over 12 months you will earn R6,307 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+
7.49%
6.90%
+
135
R100,000 for 18+
7.49%
6.90%
+
1,354
R250,000 for 18+
7.73%
6.90%
+
4,773
R1,000,000 for 18+
7.73%
6.90%
+
19,091
  • 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 7.73% interest rate at African Bank for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 18). Discovery's interest rate for the same terms is 6.90%. Over 2 years you will earn R19,091 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+
7.87%
6.95%
+
342
R100,000 for 18+
7.87%
6.95%
+
3,424
R250,000 for 18+
7.96%
6.95%
+
9,409
R1,000,000 for 18+
7.96%
6.95%
+
37,635
  • 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 year fixed deposit (if you are older than 18). Discovery's interest rate for the same terms is 6.95%. Over 3 years you will earn R37,635 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+
8.05%
7.35%
+
510
R100,000 for 18+
8.19%
7.35%
+
6,147
R250,000 for 18+
8.42%
7.35%
+
19,686
R1,000,000 for 18+
9.94%
7.35%
+
197,919
  • 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 18). Discovery's interest rate for the same terms is 7.35%. Over 5 years you will earn R197,919 more in interest at African Bank compared Discovery.

How do African Bank interest rates compare to other banks?