African Bank vs Fedgroup

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

This fixed deposit comparison page compares African Bank interest rates to Fedgroup interest rates. All the interest rates shown are sourced from the African Bank and Fedgroup 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 Fedgroup ?

You are more likely to find better interest rates at African Bank than Fedgroup. Specifically, 100 out of 100 interest rates are better at African Bank than Fedgroup. This means you are more likely to find a better interest rate at Fedgroup 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
Fedgroup
9.80%
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 Fedgroup, the best interest rate you can get is 9.8% for the 60-month fixed deposit. You will need a minimum deposit of R5,000 .

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

5 year fixed deposit interest rates compared

African Bank vs Fedgroup

This table shows African Bank's and Fedgroup'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 Bank1Fedgroup1 Winner 2
R10,000 for 18+
9.94%
9.80%
+
119
R10,000 for 55+
9.94%
9.80%
+
119
R100,000 for 18+
9.94%
9.80%
+
1,185
R100,000 for 55+
9.94%
9.80%
+
1,185
R250,000 for 18+
9.94%
9.80%
+
2,963
R250,000 for 55+
9.94%
9.80%
+
2,963
R1,000,000 for 18+
9.94%
9.80%
+
11,854
R1,000,000 for 55+
9.94%
9.80%
+
11,854
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Fedgroup.
    A negative amount means that Fedgroup 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). Fedgroup's interest rate for the same terms is 9.80%. Over 5 years you will earn R11,854 more in interest at African Bank compared Fedgroup.

How do African Bank interest rates compare to other banks?