African Bank vs Nedbank

Interest rates compared

Last updated 2nd September 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 2nd September 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, 92 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 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
Nedbank
9.81%
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 9.81% 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+
8.42%
7.75%
+
17
R10,000 for 55+
8.42%
8.00%
+
11
R100,000 for 18+
8.42%
8.30%
+
31
R100,000 for 55+
8.42%
8.20%
+
54
R250,000 for 18+
8.42%
8.40%
+
12
R250,000 for 55+
8.42%
8.30%
+
76
R1,000,000 for 18+
8.42%
8.40%
+
47
R1,000,000 for 55+
8.42%
8.40%
+
47
R5,000,000 for 18+
8.42%
8.40%
+
235
R5,000,000 for 55+
8.42%
8.40%
+
235
  • 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 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 R235 more 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+
8.65%
8.15%
+
26
R10,000 for 55+
8.65%
8.25%
+
21
R100,000 for 18+
8.65%
8.55%
+
53
R100,000 for 55+
8.65%
8.45%
+
101
R250,000 for 18+
8.65%
8.65%
-
0
R250,000 for 55+
8.65%
8.55%
+
132
R1,000,000 for 18+
8.65%
8.65%
-
0
R1,000,000 for 55+
8.65%
8.65%
-
0
R5,000,000 for 18+
8.65%
8.65%
-
0
R5,000,000 for 55+
8.65%
8.65%
-
0
  • 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 8.65% 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 8.65%. Over 6 months you will earn R0 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+
9.11%
8.65%
+
50
R10,000 for 55+
9.11%
8.65%
+
50
R100,000 for 18+
9.11%
9.05%
+
70
R100,000 for 55+
9.11%
8.85%
+
280
R250,000 for 18+
9.11%
9.10%
+
25
R250,000 for 55+
9.11%
9.05%
+
175
R1,000,000 for 18+
9.11%
9.10%
+
100
R1,000,000 for 55+
9.11%
9.10%
+
100
R5,000,000 for 18+
9.11%
9.10%
+
500
R5,000,000 for 55+
9.11%
9.10%
+
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 9.11% 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 9.10%. Over 12 months you will earn R500 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+
9.34%
8.40%
+
223
R10,000 for 55+
9.34%
8.55%
+
188
R100,000 for 18+
9.34%
8.75%
+
1,401
R100,000 for 55+
9.34%
8.75%
+
1,401
R250,000 for 18+
9.34%
8.95%
+
2,300
R250,000 for 55+
9.34%
8.85%
+
2,901
R1,000,000 for 18+
9.34%
8.95%
+
9,201
R1,000,000 for 55+
9.34%
8.95%
+
9,201
R5,000,000 for 18+
9.34%
8.95%
+
46,007
R5,000,000 for 55+
9.34%
8.95%
+
46,007
  • 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 9.34% 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 8.95%. Over 2 years you will earn R46,007 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+
9.44%
8.45%
+
384
R10,000 for 55+
9.44%
8.60%
+
327
R100,000 for 18+
9.44%
8.80%
+
2,518
R100,000 for 55+
9.44%
8.80%
+
2,518
R250,000 for 18+
9.44%
9.00%
+
4,326
R250,000 for 55+
9.44%
8.90%
+
5,312
R1,000,000 for 18+
9.44%
9.00%
+
17,304
R1,000,000 for 55+
9.44%
9.00%
+
17,304
R5,000,000 for 18+
9.44%
9.00%
+
86,519
R5,000,000 for 55+
9.44%
9.00%
+
86,519
  • 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 9.44% 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 9.00%. Over 3 years you will earn R86,519 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%
9.15%
+
636
R10,000 for 55+
9.94%
9.35%
+
477
R100,000 for 18+
9.94%
9.55%
+
3,170
R100,000 for 55+
9.94%
9.45%
+
3,973
R250,000 for 18+
9.94%
9.81%
+
2,779
R250,000 for 55+
9.94%
9.55%
+
7,926
R1,000,000 for 18+
9.94%
9.81%
+
11,115
R1,000,000 for 55+
9.94%
9.81%
+
11,115
R5,000,000 for 18+
9.94%
9.81%
+
55,576
R5,000,000 for 55+
9.94%
9.81%
+
55,576
  • 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 9.81%. Over 5 years you will earn R55,576 more in interest at African Bank compared Nedbank.

How do African Bank interest rates compare to other banks?