African Bank vs Nedbank

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

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

You are more likely to find better interest rates at African Bank than Nedbank. Specifically, 75 out of 100 interest rates are better at African Bank than Nedbank. This means you are more likely to find a better interest rate at Nedbank 25% 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
Nedbank
9.25%
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 Nedbank, the best interest rate you can get is 9.25% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 .

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

3 month fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
8.19%
7.75%
+
11
R10,000 for 55+
8.19%
8.00%
+
5
R100,000 for 18+
8.19%
8.30%
-
-28
R100,000 for 55+
8.19%
8.20%
-
-5
R250,000 for 18+
8.19%
8.40%
-
-135
R250,000 for 55+
8.19%
8.30%
-
-71
R1,000,000 for 18+
8.19%
8.40%
-
-540
R1,000,000 for 55+
8.19%
8.40%
-
-540
R5,000,000 for 18+
8.19%
8.40%
-
-2,702
R5,000,000 for 55+
8.19%
8.40%
-
-2,702
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 8.19% interest rate at African Bank for a R5,000,000 investment in a 3 month fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 8.40%. Over 3 months you will earn R2,702 less in interest at African Bank compared Nedbank.

6 month fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
8.42%
8.10%
+
16
R10,000 for 55+
8.42%
8.20%
+
11
R100,000 for 18+
8.42%
8.50%
-
-43
R100,000 for 55+
8.42%
8.40%
+
10
R250,000 for 18+
8.42%
8.60%
-
-240
R250,000 for 55+
8.42%
8.50%
-
-108
R1,000,000 for 18+
8.42%
8.60%
-
-958
R1,000,000 for 55+
8.42%
8.60%
-
-958
R5,000,000 for 18+
8.42%
8.60%
-
-4,792
R5,000,000 for 55+
8.42%
8.60%
-
-4,792
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 8.42% interest rate at African Bank for a R5,000,000 investment in a 6 month fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 8.60%. Over 6 months you will earn R4,792 less in interest at African Bank compared Nedbank.

1 year fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
8.88%
8.00%
+
95
R10,000 for 55+
8.88%
8.30%
+
63
R100,000 for 18+
8.88%
8.70%
+
190
R100,000 for 55+
8.88%
8.50%
+
410
R250,000 for 18+
8.88%
8.80%
+
225
R250,000 for 55+
8.88%
8.70%
+
475
R1,000,000 for 18+
8.88%
8.80%
+
900
R1,000,000 for 55+
8.88%
8.80%
+
900
R5,000,000 for 18+
8.88%
8.80%
+
4,500
R5,000,000 for 55+
8.88%
8.80%
+
4,500
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 8.88% interest rate at African Bank for a R5,000,000 investment in a 1 year fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 8.80%. Over 12 months you will earn R4,500 more in interest at African Bank compared Nedbank.

2 year fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
9.11%
7.85%
+
296
R10,000 for 55+
9.11%
7.95%
+
272
R100,000 for 18+
9.11%
8.15%
+
2,267
R100,000 for 55+
9.11%
8.15%
+
2,267
R250,000 for 18+
9.11%
8.35%
+
4,473
R250,000 for 55+
9.11%
8.25%
+
5,070
R1,000,000 for 18+
9.11%
8.35%
+
17,891
R1,000,000 for 55+
9.11%
8.35%
+
17,891
R5,000,000 for 18+
9.11%
8.35%
+
89,454
R5,000,000 for 55+
9.11%
8.35%
+
89,454
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 9.11% interest rate at African Bank for a R5,000,000 investment in a 2 year fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 8.35%. Over 2 years you will earn R89,454 more in interest at African Bank compared Nedbank.

3 year fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
9.21%
7.90%
+
505
R10,000 for 55+
9.21%
8.00%
+
467
R100,000 for 18+
9.21%
8.20%
+
3,890
R100,000 for 55+
9.21%
8.20%
+
3,890
R250,000 for 18+
9.21%
8.40%
+
7,866
R250,000 for 55+
9.21%
8.30%
+
8,840
R1,000,000 for 18+
9.21%
8.40%
+
31,464
R1,000,000 for 55+
9.21%
8.40%
+
31,464
R5,000,000 for 18+
9.21%
8.40%
+
157,320
R5,000,000 for 55+
9.21%
8.40%
+
157,320
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 9.21% interest rate at African Bank for a R5,000,000 investment in a 3 year fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 8.40%. Over 3 years you will earn R157,320 more in interest at African Bank compared Nedbank.

5 year fixed deposit interest rates compared

African Bank vs Nedbank

This table shows African Bank's and Nedbank'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 Bank1Nedbank1 Winner 2
R10,000 for 18+
9.94%
8.35%
+
1,246
R10,000 for 55+
9.94%
8.95%
+
787
R100,000 for 18+
9.94%
9.10%
+
6,723
R100,000 for 55+
9.94%
9.05%
+
7,154
R250,000 for 18+
9.94%
9.25%
+
13,924
R250,000 for 55+
9.94%
9.10%
+
16,807
R1,000,000 for 18+
9.94%
9.25%
+
55,698
R1,000,000 for 55+
9.94%
9.25%
+
55,698
R5,000,000 for 18+
9.94%
9.25%
+
278,489
R5,000,000 for 55+
9.94%
9.25%
+
278,489
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at African Bank over and above Nedbank.
    A negative amount means that Nedbank offers more than African Bank.
How to read this table?

You get a 9.94% interest rate at African Bank for a R5,000,000 investment in a 5 year fixed deposit (if you are older than 55). Nedbank's interest rate for the same terms is 9.25%. Over 5 years you will earn R278,489 more in interest at African Bank compared Nedbank.