Discovery vs Access Bank Plc

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

This fixed deposit comparison page compares Discovery interest rates to Access Bank Plc interest rates. All the interest rates shown are sourced from the Discovery and Access Bank Plc 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 Discovery fixed deposit interest rates compare to Access Bank Plc ?

You are more likely to find better interest rates at Access Bank Plc than Discovery. Specifically, 0 out of 100 interest rates are better at Discovery than Access Bank Plc. This means you are more likely to find a better interest rate at Access Bank Plc 100% 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)

Discovery
8.60%
best rate
Access Bank Plc
10.45%
best rate

The best interest rate you can get at Discovery is 8.6% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 . Whilst at Access Bank Plc, the best interest rate you can get is 10.45% for the 60-month fixed deposit. You will need a minimum deposit of R500 .

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

3 month fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 month fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
7.95%
8.14%
-
-5
R10,000 for 55+
7.95%
8.14%
-
-5
R100,000 for 18+
7.95%
8.39%
-
-111
R100,000 for 55+
7.95%
8.39%
-
-111
R250,000 for 18+
7.95%
8.39%
-
-276
R250,000 for 55+
7.95%
8.39%
-
-276
R1,000,000 for 18+
7.95%
8.49%
-
-1,364
R1,000,000 for 55+
7.95%
8.49%
-
-1,364
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 7.95% interest rate at Discovery for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 8.49%. Over 3 months you will earn R1,364 less in interest at Discovery compared Access Bank Plc.

6 month fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 6 month fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
8.25%
8.41%
-
-8
R10,000 for 55+
8.25%
8.41%
-
-8
R100,000 for 18+
8.25%
8.66%
-
-211
R100,000 for 55+
8.25%
8.66%
-
-211
R250,000 for 18+
8.25%
8.66%
-
-527
R250,000 for 55+
8.25%
8.66%
-
-527
R1,000,000 for 18+
8.25%
8.75%
-
-2,588
R1,000,000 for 55+
8.25%
8.75%
-
-2,588
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 8.25% interest rate at Discovery for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 8.75%. Over 6 months you will earn R2,588 less in interest at Discovery compared Access Bank Plc.

1 year fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1 year fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
8.30%
9.50%
-
-130
R10,000 for 55+
8.30%
9.50%
-
-130
R100,000 for 18+
8.30%
9.50%
-
-1,300
R100,000 for 55+
8.30%
9.50%
-
-1,300
R250,000 for 18+
8.30%
9.50%
-
-3,250
R250,000 for 55+
8.30%
9.50%
-
-3,250
R1,000,000 for 18+
8.30%
9.50%
-
-13,000
R1,000,000 for 55+
8.30%
9.50%
-
-13,000
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 8.3% interest rate at Discovery for a R1,000,000 investment in a 1 year fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 9.50%. Over 12 months you will earn R13,000 less in interest at Discovery compared Access Bank Plc.

2 year fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
8.10%
9.55%
-
-343
R10,000 for 55+
8.10%
9.55%
-
-343
R100,000 for 18+
8.10%
9.55%
-
-3,429
R100,000 for 55+
8.10%
9.55%
-
-3,429
R250,000 for 18+
8.10%
9.55%
-
-8,572
R250,000 for 55+
8.10%
9.55%
-
-8,572
R1,000,000 for 18+
8.10%
9.55%
-
-34,287
R1,000,000 for 55+
8.10%
9.55%
-
-34,287
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 8.1% interest rate at Discovery for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 9.55%. Over 2 years you will earn R34,287 less in interest at Discovery compared Access Bank Plc.

3 year fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 year fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
8.10%
9.80%
-
-660
R10,000 for 55+
8.10%
9.80%
-
-660
R100,000 for 18+
8.10%
9.80%
-
-6,598
R100,000 for 55+
8.10%
9.80%
-
-6,598
R250,000 for 18+
8.10%
9.80%
-
-16,496
R250,000 for 55+
8.10%
9.80%
-
-16,496
R1,000,000 for 18+
8.10%
9.80%
-
-65,982
R1,000,000 for 55+
8.10%
9.80%
-
-65,982
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 8.1% interest rate at Discovery for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 9.80%. Over 3 years you will earn R65,982 less in interest at Discovery compared Access Bank Plc.

5 year fixed deposit interest rates compared

Discovery vs Access Bank Plc

This table shows Discovery's and Access Bank Plc's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit.

Investment amount Discovery1Access Bank Plc1 Winner 2
R10,000 for 18+
8.60%
10.45%
-
-1,477
R10,000 for 55+
8.60%
10.45%
-
-1,477
R100,000 for 18+
8.60%
10.45%
-
-14,768
R100,000 for 55+
8.60%
10.45%
-
-14,768
R250,000 for 18+
8.60%
10.45%
-
-36,921
R250,000 for 55+
8.60%
10.45%
-
-36,921
R1,000,000 for 18+
8.60%
10.45%
-
-147,684
R1,000,000 for 55+
8.60%
10.45%
-
-147,684
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Access Bank Plc.
    A negative amount means that Access Bank Plc offers more than Discovery.
How to read this table?

You get a 8.6% interest rate at Discovery for a R1,000,000 investment in a 5 year fixed deposit (if you are older than 55). Access Bank Plc's interest rate for the same terms is 10.45%. Over 5 years you will earn R147,684 less in interest at Discovery compared Access Bank Plc.

How do Discovery interest rates compare to other banks?