Discovery vs FNB

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

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

You are more likely to find better interest rates at FNB than Discovery. Specifically, 25 out of 100 interest rates are better at Discovery than FNB. This means you are more likely to find a better interest rate at FNB 75% 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
FNB
9.65%
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 FNB, the best interest rate you can get is 9.65% for the 60-month fixed deposit. You will need a minimum deposit of R1,000,000 and be over the age of 55.

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

3 month fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
7.95%
7.55%
+
10
R10,000 for 55+
7.95%
8.05%
-
-2
R100,000 for 18+
7.95%
7.55%
+
101
R100,000 for 55+
7.95%
8.05%
-
-24
R250,000 for 18+
7.95%
7.60%
+
224
R250,000 for 55+
7.95%
8.10%
-
-94
R1,000,000 for 18+
7.95%
7.70%
+
637
R1,000,000 for 55+
7.95%
8.20%
-
-635
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 8.20%. Over 3 months you will earn R635 less in interest at Discovery compared FNB.

6 month fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
8.25%
7.70%
+
28
R10,000 for 55+
8.25%
8.40%
-
-8
R100,000 for 18+
8.25%
7.70%
+
284
R100,000 for 55+
8.25%
8.40%
-
-77
R250,000 for 18+
8.25%
7.75%
+
649
R250,000 for 55+
8.25%
8.45%
-
-264
R1,000,000 for 18+
8.25%
7.85%
+
2,065
R1,000,000 for 55+
8.25%
8.60%
-
-1,822
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 8.60%. Over 6 months you will earn R1,822 less in interest at Discovery compared FNB.

1 year fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
8.30%
8.10%
+
21
R10,000 for 55+
8.30%
8.95%
-
-71
R100,000 for 18+
8.30%
8.10%
+
210
R100,000 for 55+
8.30%
8.95%
-
-710
R250,000 for 18+
8.30%
8.15%
+
400
R250,000 for 55+
8.30%
9.00%
-
-1,900
R1,000,000 for 18+
8.30%
8.25%
+
500
R1,000,000 for 55+
8.30%
9.10%
-
-8,700
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 9.10%. Over 12 months you will earn R8,700 less in interest at Discovery compared FNB.

2 year fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
8.10%
8.15%
-
-11
R10,000 for 55+
8.10%
9.00%
-
-211
R100,000 for 18+
8.10%
8.15%
-
-108
R100,000 for 55+
8.10%
9.00%
-
-2,113
R250,000 for 18+
8.10%
8.20%
-
-597
R250,000 for 55+
8.10%
9.05%
-
-5,555
R1,000,000 for 18+
8.10%
8.30%
-
-4,558
R1,000,000 for 55+
8.10%
9.20%
-
-25,943
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 9.20%. Over 2 years you will earn R25,943 less in interest at Discovery compared FNB.

3 year fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
8.10%
8.25%
-
-56
R10,000 for 55+
8.10%
9.05%
-
-363
R100,000 for 18+
8.10%
8.25%
-
-565
R100,000 for 55+
8.10%
9.05%
-
-3,630
R250,000 for 18+
8.10%
8.30%
-
-1,855
R250,000 for 55+
8.10%
9.10%
-
-9,615
R1,000,000 for 18+
8.10%
8.40%
-
-11,316
R1,000,000 for 55+
8.10%
9.25%
-
-44,222
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 9.25%. Over 3 years you will earn R44,222 less in interest at Discovery compared FNB.

5 year fixed deposit interest rates compared

Discovery vs FNB

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

Investment amount Discovery1FNB1 Winner 2
R10,000 for 18+
8.60%
8.70%
-
-78
R10,000 for 55+
8.60%
9.45%
-
-659
R100,000 for 18+
8.60%
8.70%
-
-777
R100,000 for 55+
8.60%
9.45%
-
-6,592
R250,000 for 18+
8.60%
8.75%
-
-2,826
R250,000 for 55+
8.60%
9.50%
-
-17,391
R1,000,000 for 18+
8.60%
8.85%
-
-19,116
R1,000,000 for 55+
8.60%
9.65%
-
-82,011
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above FNB.
    A negative amount means that FNB 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). FNB's interest rate for the same terms is 9.65%. Over 5 years you will earn R82,011 less in interest at Discovery compared FNB.

How do Discovery interest rates compare to other banks?