Capitec vs Discovery

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

This fixed deposit comparison page compares Capitec interest rates to Discovery interest rates. All the interest rates shown are sourced from the Capitec 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 Capitec fixed deposit interest rates compare to Discovery ?

You are more likely to find better interest rates at Capitec than Discovery. Specifically, 95 out of 100 interest rates are better at Capitec than Discovery. This means you are more likely to find a better interest rate at Discovery 5% 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)

Capitec
9.50%
best rate
Discovery
8.60%
best rate

The best interest rate you can get at Capitec is 9.5% 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 8.6% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

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

6 month fixed deposit interest rates compared

Capitec vs Discovery

This table shows Capitec'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 Capitec1Discovery1 Winner 2
R10,000 for 18+
8.15%
8.25%
-
-5
R10,000 for 55+
8.15%
8.25%
-
-5
R100,000 for 18+
8.35%
8.25%
+
53
R100,000 for 55+
8.35%
8.25%
+
53
R250,000 for 18+
8.45%
8.25%
+
264
R250,000 for 55+
8.45%
8.25%
+
264
R1,000,000 for 18+
8.50%
8.25%
+
1,295
R1,000,000 for 55+
8.50%
8.25%
+
1,295
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Capitec over and above Discovery.
    A negative amount means that Discovery offers more than Capitec.
How to read this table?

You get a 8.5% interest rate at Capitec 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 R1,295 more in interest at Capitec compared Discovery.

1 year fixed deposit interest rates compared

Capitec vs Discovery

This table shows Capitec'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 Capitec1Discovery1 Winner 2
R10,000 for 18+
8.50%
8.30%
+
22
R10,000 for 55+
8.50%
8.30%
+
22
R100,000 for 18+
8.60%
8.30%
+
330
R100,000 for 55+
8.60%
8.30%
+
330
R250,000 for 18+
8.65%
8.30%
+
950
R250,000 for 55+
8.65%
8.30%
+
950
R1,000,000 for 18+
8.70%
8.30%
+
4,400
R1,000,000 for 55+
8.70%
8.30%
+
4,400
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Capitec over and above Discovery.
    A negative amount means that Discovery offers more than Capitec.
How to read this table?

You get a 8.7% interest rate at Capitec 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 R4,400 more in interest at Capitec compared Discovery.

2 year fixed deposit interest rates compared

Capitec vs Discovery

This table shows Capitec'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 Capitec1Discovery1 Winner 2
R10,000 for 18+
8.70%
8.10%
+
141
R10,000 for 55+
8.70%
8.10%
+
141
R100,000 for 18+
8.75%
8.10%
+
1,523
R100,000 for 55+
8.75%
8.10%
+
1,523
R250,000 for 18+
8.85%
8.10%
+
4,407
R250,000 for 55+
8.85%
8.10%
+
4,407
R1,000,000 for 18+
8.90%
8.10%
+
18,720
R1,000,000 for 55+
8.90%
8.10%
+
18,720
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Capitec over and above Discovery.
    A negative amount means that Discovery offers more than Capitec.
How to read this table?

You get a 8.9% interest rate at Capitec for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.10%. Over 2 years you will earn R18,720 more in interest at Capitec compared Discovery.

3 year fixed deposit interest rates compared

Capitec vs Discovery

This table shows Capitec'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 Capitec1Discovery1 Winner 2
R10,000 for 18+
8.80%
8.10%
+
266
R10,000 for 55+
8.80%
8.10%
+
266
R100,000 for 18+
8.85%
8.10%
+
2,877
R100,000 for 55+
8.85%
8.10%
+
2,877
R250,000 for 18+
8.95%
8.10%
+
8,178
R250,000 for 55+
8.95%
8.10%
+
8,178
R1,000,000 for 18+
9.05%
8.10%
+
36,303
R1,000,000 for 55+
9.05%
8.10%
+
36,303
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Capitec over and above Discovery.
    A negative amount means that Discovery offers more than Capitec.
How to read this table?

You get a 9.05% interest rate at Capitec for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.10%. Over 3 years you will earn R36,303 more in interest at Capitec compared Discovery.

5 year fixed deposit interest rates compared

Capitec vs Discovery

This table shows Capitec'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 Capitec1Discovery1 Winner 2
R10,000 for 18+
9.20%
8.60%
+
463
R10,000 for 55+
9.20%
8.60%
+
463
R100,000 for 18+
9.25%
8.60%
+
4,995
R100,000 for 55+
9.25%
8.60%
+
4,995
R250,000 for 18+
9.45%
8.60%
+
16,479
R250,000 for 55+
9.45%
8.60%
+
16,479
R1,000,000 for 18+
9.50%
8.60%
+
69,564
R1,000,000 for 55+
9.50%
8.60%
+
69,564
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Capitec over and above Discovery.
    A negative amount means that Discovery offers more than Capitec.
How to read this table?

You get a 9.5% interest rate at Capitec for a R1,000,000 investment in a 5 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.60%. Over 5 years you will earn R69,564 more in interest at Capitec compared Discovery.

How do Capitec interest rates compare to other banks?