Discovery
vs
Nedbank
Interest rates compared
Introduction
This fixed deposit comparison page compares Discovery interest rates to Nedbank interest rates. All the interest rates shown are sourced from the Discovery and Nedbank websites, respectively. All rates shown on this page have been converted to nominal rates! This allows for a fair comparison. Rates last updated 1st September 2026.
How do Discovery fixed deposit interest rates compare to Nedbank ?
You are more likely to find better interest rates at Nedbank than Discovery. Specifically, 36 out of 100 interest rates are better at Discovery than Nedbank. This means you are more likely to find a better interest rate at Nedbank 64% 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)
The best interest rate you can get at Discovery is 8% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 . Whilst at Nedbank, the best interest rate you can get is 8.3% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 .
But how do interest rates at Discovery compare to Nedbank across different terms and investment amounts?
3 month fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 month fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 6.85% | 6.40% | + 11 |
| R100,000 for 18+ | 6.85% | 6.70% | + 38 |
| R250,000 for 18+ | 6.85% | 6.80% | + 32 |
| R1,000,000 for 18+ | 6.85% | 6.80% | + 126 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 6.85% interest rate at Discovery for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 6.80%. Over 3 months you will earn R126 more in interest at Discovery compared Nedbank.
6 month fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 6 month fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.05% | 6.70% | + 18 |
| R100,000 for 18+ | 7.05% | 7.00% | + 26 |
| R250,000 for 18+ | 7.05% | 7.15% | - -129 |
| R1,000,000 for 18+ | 7.05% | 7.15% | - -515 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 7.05% interest rate at Discovery for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 7.15%. Over 6 months you will earn R515 less in interest at Discovery compared Nedbank.
1 year fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1 year fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.40% | 7.15% | + 27 |
| R100,000 for 18+ | 7.40% | 7.55% | - -161 |
| R250,000 for 18+ | 7.40% | 7.65% | - -669 |
| R1,000,000 for 18+ | 7.40% | 7.65% | - -2,678 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 7.4% interest rate at Discovery for a R1,000,000 investment in a 1 year fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 7.65%. Over 12 months you will earn R2,678 less in interest at Discovery compared Nedbank.
1.5 year fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1.5 year fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.45% | 7.25% | + 33 |
| R100,000 for 18+ | 7.45% | 7.55% | - -167 |
| R250,000 for 18+ | 7.45% | 7.65% | - -834 |
| R1,000,000 for 18+ | 7.45% | 7.65% | - -3,338 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 7.45% interest rate at Discovery for a R1,000,000 investment in a 1.5 year fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 7.65%. Over 1.5 years you will earn R3,338 less in interest at Discovery compared Nedbank.
2 year fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.50% | 7.30% | + 46 |
| R100,000 for 18+ | 7.50% | 7.60% | - -231 |
| R250,000 for 18+ | 7.50% | 7.70% | - -1,156 |
| R1,000,000 for 18+ | 7.50% | 7.70% | - -4,625 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 7.5% interest rate at Discovery for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 7.70%. Over 2 years you will earn R4,625 less in interest at Discovery compared Nedbank.
3 year fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 year fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.65% | 7.35% | + 112 |
| R100,000 for 18+ | 7.65% | 7.65% | - 0 |
| R250,000 for 18+ | 7.65% | 7.75% | - -938 |
| R1,000,000 for 18+ | 7.65% | 7.75% | - -3,753 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 7.65% interest rate at Discovery for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 7.75%. Over 3 years you will earn R3,753 less in interest at Discovery compared Nedbank.
5 year fixed deposit interest rates compared
This table shows Discovery's and Nedbank's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit.
| Investment amount | Discovery1 | Nedbank1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 8.00% | 8.00% | - 0 |
| R100,000 for 18+ | 8.00% | 8.15% | - -1,114 |
| R250,000 for 18+ | 8.00% | 8.30% | - -5,591 |
| R1,000,000 for 18+ | 8.00% | 8.30% | - -22,363 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Discovery over and above Nedbank.
A negative amount means that Nedbank offers more than Discovery.
You get a 8% interest rate at Discovery for a R1,000,000 investment in a 5 year fixed deposit (if you are older than 18). Nedbank's interest rate for the same terms is 8.30%. Over 5 years you will earn R22,363 less in interest at Discovery compared Nedbank.
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