Discovery vs Investec

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

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

You are more likely to find better interest rates at Investec than Discovery. Specifically, 33 out of 100 interest rates are better at Discovery than Investec. This means you are more likely to find a better interest rate at Investec 67% 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
Investec
8.90%
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 Investec, the best interest rate you can get is 8.9% for the 60-month fixed deposit. You will need a minimum deposit of R100,000 and be over the age of 55.

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

3 month fixed deposit interest rates compared

Discovery vs Investec

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

Investment amount Discovery1Investec1 Winner 2
R100,000 for 18+
7.95%
7.37%
+
149
R250,000 for 18+
7.95%
7.57%
+
242
R1,000,000 for 18+
7.95%
7.82%
+
330
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Investec.
    A negative amount means that Investec 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 18). Investec's interest rate for the same terms is 7.82%. Over 3 months you will earn R330 more in interest at Discovery compared Investec.

6 month fixed deposit interest rates compared

Discovery vs Investec

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

Investment amount Discovery1Investec1 Winner 2
R100,000 for 18+
8.25%
7.94%
+
158
R100,000 for 55+
8.25%
8.09%
+
82
R250,000 for 18+
8.25%
7.94%
+
396
R250,000 for 55+
8.25%
8.09%
+
204
R1,000,000 for 18+
8.25%
7.94%
+
1,585
R1,000,000 for 55+
8.25%
8.09%
+
816
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Investec.
    A negative amount means that Investec 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). Investec's interest rate for the same terms is 8.09%. Over 6 months you will earn R816 more in interest at Discovery compared Investec.

1 year fixed deposit interest rates compared

Discovery vs Investec

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

Investment amount Discovery1Investec1 Winner 2
R100,000 for 18+
8.30%
8.65%
-
-380
R100,000 for 55+
8.30%
8.75%
-
-490
R250,000 for 18+
8.30%
8.65%
-
-950
R250,000 for 55+
8.30%
8.75%
-
-1,225
R1,000,000 for 18+
8.30%
8.65%
-
-3,800
R1,000,000 for 55+
8.30%
8.75%
-
-4,900
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Investec.
    A negative amount means that Investec 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). Investec's interest rate for the same terms is 8.75%. Over 12 months you will earn R4,900 less in interest at Discovery compared Investec.

2 year fixed deposit interest rates compared

Discovery vs Investec

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

Investment amount Discovery1Investec1 Winner 2
R100,000 for 18+
8.10%
8.14%
-
-87
R100,000 for 55+
8.10%
8.29%
-
-434
R250,000 for 18+
8.10%
8.14%
-
-217
R250,000 for 55+
8.10%
8.29%
-
-1,085
R1,000,000 for 18+
8.10%
8.14%
-
-867
R1,000,000 for 55+
8.10%
8.29%
-
-4,340
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Investec.
    A negative amount means that Investec 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). Investec's interest rate for the same terms is 8.29%. Over 2 years you will earn R4,340 less in interest at Discovery compared Investec.

5 year fixed deposit interest rates compared

Discovery vs Investec

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

Investment amount Discovery1Investec1 Winner 2
R100,000 for 18+
8.60%
8.75%
-
-1,131
R100,000 for 55+
8.60%
8.90%
-
-2,268
R250,000 for 18+
8.60%
8.75%
-
-2,826
R250,000 for 55+
8.60%
8.90%
-
-5,669
R1,000,000 for 18+
8.60%
8.75%
-
-11,305
R1,000,000 for 55+
8.60%
8.90%
-
-22,677
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Investec.
    A negative amount means that Investec 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). Investec's interest rate for the same terms is 8.90%. Over 5 years you will earn R22,677 less in interest at Discovery compared Investec.

How do Discovery interest rates compare to other banks?