Discovery vs African Bank

Interest rates compared

Last updated 2nd April 2025 by Walter

Introduction

This fixed deposit comparison page compares Discovery interest rates to African Bank interest rates. All the interest rates shown are sourced from the Discovery and African Bank websites, respectively. All rates shown on this page have been converted to nominal rates! This allows for a fair comparison. Rates last updated 2nd April 2025.

How do Discovery fixed deposit interest rates compare to African Bank ?

You are more likely to find better interest rates at African Bank than Discovery. Specifically, 0 out of 100 interest rates are better at Discovery than African Bank. This means you are more likely to find a better interest rate at African Bank 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
African Bank
9.94%
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 African Bank, the best interest rate you can get is 9.94% for the 60-month fixed deposit. You will need a minimum deposit of R500 .

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

3 month fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
7.40%
7.73%
-
-8
R10,000 for 55+
7.40%
7.73%
-
-8
R100,000 for 18+
7.40%
7.73%
-
-83
R100,000 for 55+
7.40%
7.73%
-
-83
R250,000 for 18+
7.40%
7.73%
-
-207
R250,000 for 55+
7.40%
7.73%
-
-207
R1,000,000 for 18+
7.40%
7.73%
-
-827
R1,000,000 for 55+
7.40%
7.73%
-
-827
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank offers more than Discovery.
How to read this table?

You get a 7.4% interest rate at Discovery for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 7.73%. Over 3 months you will earn R827 less in interest at Discovery compared African Bank.

6 month fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
7.70%
7.96%
-
-13
R10,000 for 55+
7.70%
7.96%
-
-13
R100,000 for 18+
7.70%
7.96%
-
-135
R100,000 for 55+
7.70%
7.96%
-
-135
R250,000 for 18+
7.70%
7.96%
-
-337
R250,000 for 55+
7.70%
7.96%
-
-337
R1,000,000 for 18+
7.70%
7.96%
-
-1,346
R1,000,000 for 55+
7.70%
7.96%
-
-1,346
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank offers more than Discovery.
How to read this table?

You get a 7.7% interest rate at Discovery for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 7.96%. Over 6 months you will earn R1,346 less in interest at Discovery compared African Bank.

1 year fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
8.10%
8.42%
-
-34
R10,000 for 55+
8.10%
8.42%
-
-34
R100,000 for 18+
8.10%
8.42%
-
-340
R100,000 for 55+
8.10%
8.42%
-
-340
R250,000 for 18+
8.10%
8.42%
-
-850
R250,000 for 55+
8.10%
8.42%
-
-850
R1,000,000 for 18+
8.10%
8.42%
-
-3,400
R1,000,000 for 55+
8.10%
8.42%
-
-3,400
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank 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 1 year fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 8.42%. Over 12 months you will earn R3,400 less in interest at Discovery compared African Bank.

2 year fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
8.05%
8.65%
-
-141
R10,000 for 55+
8.05%
8.65%
-
-141
R100,000 for 18+
8.05%
8.65%
-
-1,413
R100,000 for 55+
8.05%
8.65%
-
-1,413
R250,000 for 18+
8.05%
8.65%
-
-3,532
R250,000 for 55+
8.05%
8.65%
-
-3,532
R1,000,000 for 18+
8.05%
8.65%
-
-14,128
R1,000,000 for 55+
8.05%
8.65%
-
-14,128
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank offers more than Discovery.
How to read this table?

You get a 8.05% interest rate at Discovery for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 8.65%. Over 2 years you will earn R14,128 less in interest at Discovery compared African Bank.

3 year fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
8.20%
8.75%
-
-210
R10,000 for 55+
8.20%
8.75%
-
-210
R100,000 for 18+
8.20%
8.75%
-
-2,096
R100,000 for 55+
8.20%
8.75%
-
-2,096
R250,000 for 18+
8.20%
8.75%
-
-5,240
R250,000 for 55+
8.20%
8.75%
-
-5,240
R1,000,000 for 18+
8.20%
8.75%
-
-20,958
R1,000,000 for 55+
8.20%
8.75%
-
-20,958
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank offers more than Discovery.
How to read this table?

You get a 8.2% interest rate at Discovery for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 8.75%. Over 3 years you will earn R20,958 less in interest at Discovery compared African Bank.

5 year fixed deposit interest rates compared

Discovery vs African Bank

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

Investment amount Discovery1African Bank1 Winner 2
R10,000 for 18+
8.60%
9.94%
-
-1,057
R10,000 for 55+
8.60%
9.94%
-
-1,057
R100,000 for 18+
8.60%
9.94%
-
-10,565
R100,000 for 55+
8.60%
9.94%
-
-10,565
R250,000 for 18+
8.60%
9.94%
-
-26,413
R250,000 for 55+
8.60%
9.94%
-
-26,413
R1,000,000 for 18+
8.60%
9.94%
-
-105,650
R1,000,000 for 55+
8.60%
9.94%
-
-105,650
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above African Bank.
    A negative amount means that African Bank 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). African Bank's interest rate for the same terms is 9.94%. Over 5 years you will earn R105,650 less in interest at Discovery compared African Bank.