Discovery vs Bidvest

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

This fixed deposit comparison page compares Discovery interest rates to Bidvest interest rates. All the interest rates shown are sourced from the Discovery and Bidvest websites, respectively. All rates shown on this page have been converted to nominal rates! This allows for a fair comparison. Rates last updated 1st November 2024.

How do Discovery fixed deposit interest rates compare to Bidvest ?

You are more likely to find better interest rates at Bidvest than Discovery. Specifically, 0 out of 100 interest rates are better at Discovery than Bidvest. This means you are more likely to find a better interest rate at Bidvest 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
Bidvest
8.65%
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 Bidvest, the best interest rate you can get is 8.65% for the 12-month fixed deposit. You will need a minimum deposit of R10,000 and be over the age of 55.

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

3 month fixed deposit interest rates compared

Discovery vs Bidvest

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

Investment amount Discovery1Bidvest1 Winner 2
R10,000 for 18+
7.95%
8.24%
-
-7
R10,000 for 55+
7.95%
8.24%
-
-7
R100,000 for 18+
7.95%
8.24%
-
-73
R100,000 for 55+
7.95%
8.24%
-
-73
R250,000 for 18+
7.95%
8.24%
-
-182
R250,000 for 55+
7.95%
8.24%
-
-182
R1,000,000 for 18+
7.95%
8.24%
-
-729
R1,000,000 for 55+
7.95%
8.24%
-
-729
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Bidvest.
    A negative amount means that Bidvest 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). Bidvest's interest rate for the same terms is 8.24%. Over 3 months you will earn R729 less in interest at Discovery compared Bidvest.

6 month fixed deposit interest rates compared

Discovery vs Bidvest

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

Investment amount Discovery1Bidvest1 Winner 2
R10,000 for 18+
8.25%
8.45%
-
-11
R10,000 for 55+
8.25%
8.45%
-
-11
R100,000 for 18+
8.25%
8.45%
-
-106
R100,000 for 55+
8.25%
8.45%
-
-106
R250,000 for 18+
8.25%
8.45%
-
-264
R250,000 for 55+
8.25%
8.45%
-
-264
R1,000,000 for 18+
8.25%
8.45%
-
-1,055
R1,000,000 for 55+
8.25%
8.45%
-
-1,055
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Bidvest.
    A negative amount means that Bidvest 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). Bidvest's interest rate for the same terms is 8.45%. Over 6 months you will earn R1,055 less in interest at Discovery compared Bidvest.

1 year fixed deposit interest rates compared

Discovery vs Bidvest

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

Investment amount Discovery1Bidvest1 Winner 2
R10,000 for 18+
8.30%
8.60%
-
-33
R10,000 for 55+
8.30%
8.65%
-
-38
R100,000 for 18+
8.30%
8.60%
-
-330
R100,000 for 55+
8.30%
8.65%
-
-380
R250,000 for 18+
8.30%
8.60%
-
-825
R250,000 for 55+
8.30%
8.65%
-
-950
R1,000,000 for 18+
8.30%
8.60%
-
-3,300
R1,000,000 for 55+
8.30%
8.65%
-
-3,800
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Bidvest.
    A negative amount means that Bidvest 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). Bidvest's interest rate for the same terms is 8.65%. Over 12 months you will earn R3,800 less in interest at Discovery compared Bidvest.

How do Discovery interest rates compare to other banks?