Discovery vs Standard Bank

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

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

You are more likely to find better interest rates at Discovery than Standard Bank. Specifically, 60 out of 100 interest rates are better at Discovery than Standard Bank. This means you are more likely to find a better interest rate at Standard Bank 40% 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
Standard Bank
8.85%
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 Standard Bank, the best interest rate you can get is 8.85% for the 60-month fixed deposit. You will need a minimum deposit of R100,000 .

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

3 month fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
7.95%
6.93%
+
26
R10,000 for 55+
7.95%
7.43%
+
13
R100,000 for 18+
7.95%
7.61%
+
87
R100,000 for 55+
7.95%
7.61%
+
87
R250,000 for 18+
7.95%
7.61%
+
218
R250,000 for 55+
7.95%
7.61%
+
218
R1,000,000 for 18+
7.95%
7.71%
+
613
R1,000,000 for 55+
7.95%
7.71%
+
613
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard Bank 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). Standard Bank's interest rate for the same terms is 7.71%. Over 3 months you will earn R613 more in interest at Discovery compared Standard Bank.

6 month fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
8.25%
7.19%
+
55
R10,000 for 55+
8.25%
7.69%
+
29
R100,000 for 18+
8.25%
7.74%
+
264
R100,000 for 55+
8.25%
7.74%
+
264
R250,000 for 18+
8.25%
7.74%
+
661
R250,000 for 55+
8.25%
7.74%
+
661
R1,000,000 for 18+
8.25%
7.84%
+
2,114
R1,000,000 for 55+
8.25%
7.84%
+
2,114
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard Bank 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). Standard Bank's interest rate for the same terms is 7.84%. Over 6 months you will earn R2,114 more in interest at Discovery compared Standard Bank.

1 year fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
8.30%
7.18%
+
120
R10,000 for 55+
8.30%
7.68%
+
66
R100,000 for 18+
8.30%
7.88%
+
450
R100,000 for 55+
8.30%
7.88%
+
450
R250,000 for 18+
8.30%
7.88%
+
1,125
R250,000 for 55+
8.30%
7.88%
+
1,125
R1,000,000 for 18+
8.30%
7.98%
+
3,400
R1,000,000 for 55+
8.30%
7.98%
+
3,400
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard Bank 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). Standard Bank's interest rate for the same terms is 7.98%. Over 12 months you will earn R3,400 more in interest at Discovery compared Standard Bank.

2 year fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
8.10%
7.39%
+
164
R10,000 for 55+
8.10%
7.89%
+
50
R100,000 for 18+
8.10%
8.26%
-
-369
R100,000 for 55+
8.10%
8.26%
-
-369
R250,000 for 18+
8.10%
8.26%
-
-922
R250,000 for 55+
8.10%
8.26%
-
-922
R1,000,000 for 18+
8.10%
8.26%
-
-3,689
R1,000,000 for 55+
8.10%
8.26%
-
-3,689
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard 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 2 year fixed deposit (if you are older than 55). Standard Bank's interest rate for the same terms is 8.26%. Over 2 years you will earn R3,689 less in interest at Discovery compared Standard Bank.

3 year fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
8.10%
7.66%
+
168
R10,000 for 55+
8.10%
8.16%
-
-21
R100,000 for 18+
8.10%
8.13%
-
-106
R100,000 for 55+
8.10%
8.13%
-
-106
R250,000 for 18+
8.10%
8.13%
-
-265
R250,000 for 55+
8.10%
8.13%
-
-265
R1,000,000 for 18+
8.10%
8.13%
-
-1,058
R1,000,000 for 55+
8.10%
8.13%
-
-1,058
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard 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 3 year fixed deposit (if you are older than 55). Standard Bank's interest rate for the same terms is 8.13%. Over 3 years you will earn R1,058 less in interest at Discovery compared Standard Bank.

5 year fixed deposit interest rates compared

Discovery vs Standard Bank

This table shows Discovery's and Standard 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 Discovery1Standard Bank1 Winner 2
R10,000 for 18+
8.60%
7.86%
+
555
R10,000 for 55+
8.60%
8.36%
+
182
R100,000 for 18+
8.60%
8.85%
-
-1,912
R100,000 for 55+
8.60%
8.85%
-
-1,912
R250,000 for 18+
8.60%
8.85%
-
-4,779
R250,000 for 55+
8.60%
8.85%
-
-4,779
R1,000,000 for 18+
8.60%
8.85%
-
-19,116
R1,000,000 for 55+
8.60%
8.85%
-
-19,116
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above Standard Bank.
    A negative amount means that Standard 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). Standard Bank's interest rate for the same terms is 8.85%. Over 5 years you will earn R19,116 less in interest at Discovery compared Standard Bank.

How do Discovery interest rates compare to other banks?