Bidvest vs Discovery

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

This fixed deposit comparison page compares Bidvest interest rates to Discovery interest rates. All the interest rates shown are sourced from the Bidvest 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 2nd September 2024.

How do Bidvest fixed deposit interest rates compare to Discovery ?

You are more likely to find better interest rates at Bidvest than Discovery. Specifically, 100 out of 100 interest rates are better at Bidvest than Discovery. This means you are more likely to find a better interest rate at Discovery 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)

Bidvest
9.16%
best rate
Discovery
8.60%
best rate

The best interest rate you can get at Bidvest is 9.16% for the 12-month fixed deposit. You will need a minimum deposit of R10,000 and be over the age of 55. Whilst at Discovery, the best interest rate you can get is 8.6% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

But how do interest rates at Bidvest compare to Discovery across different terms and investment amounts?

3 month fixed deposit interest rates compared

Bidvest vs Discovery

This table shows Bidvest'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 Bidvest1Discovery1 Winner 2
R10,000 for 18+
8.54%
7.95%
+
15
R10,000 for 55+
8.54%
7.95%
+
15
R100,000 for 18+
8.54%
7.95%
+
148
R100,000 for 55+
8.54%
7.95%
+
148
R250,000 for 18+
8.54%
7.95%
+
370
R250,000 for 55+
8.54%
7.95%
+
370
R1,000,000 for 18+
8.54%
7.95%
+
1,481
R1,000,000 for 55+
8.54%
7.95%
+
1,481
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Bidvest over and above Discovery.
    A negative amount means that Discovery offers more than Bidvest.
How to read this table?

You get a 8.54% interest rate at Bidvest 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 7.95%. Over 3 months you will earn R1,481 more in interest at Bidvest compared Discovery.

6 month fixed deposit interest rates compared

Bidvest vs Discovery

This table shows Bidvest'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 Bidvest1Discovery1 Winner 2
R10,000 for 18+
8.90%
8.25%
+
34
R10,000 for 55+
8.90%
8.25%
+
34
R100,000 for 18+
8.90%
8.25%
+
335
R100,000 for 55+
8.90%
8.25%
+
335
R250,000 for 18+
8.90%
8.25%
+
838
R250,000 for 55+
8.90%
8.25%
+
838
R1,000,000 for 18+
8.90%
8.25%
+
3,354
R1,000,000 for 55+
8.90%
8.25%
+
3,354
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Bidvest over and above Discovery.
    A negative amount means that Discovery offers more than Bidvest.
How to read this table?

You get a 8.9% interest rate at Bidvest 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 8.25%. Over 6 months you will earn R3,354 more in interest at Bidvest compared Discovery.

1 year fixed deposit interest rates compared

Bidvest vs Discovery

This table shows Bidvest'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 Bidvest1Discovery1 Winner 2
R10,000 for 18+
9.11%
8.30%
+
88
R10,000 for 55+
9.16%
8.30%
+
93
R100,000 for 18+
9.11%
8.30%
+
880
R100,000 for 55+
9.16%
8.30%
+
930
R250,000 for 18+
9.11%
8.30%
+
2,200
R250,000 for 55+
9.16%
8.30%
+
2,325
R1,000,000 for 18+
9.11%
8.30%
+
8,800
R1,000,000 for 55+
9.16%
8.30%
+
9,300
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Bidvest over and above Discovery.
    A negative amount means that Discovery offers more than Bidvest.
How to read this table?

You get a 9.16% interest rate at Bidvest 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 8.30%. Over 12 months you will earn R9,300 more in interest at Bidvest compared Discovery.

How do Bidvest interest rates compare to other banks?