Discovery vs TymeBank

Interest rates compared

Last updated 2nd September 2024 by Walter

Introduction

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

You are more likely to find better interest rates at TymeBank than Discovery. Specifically, 33 out of 100 interest rates are better at Discovery than TymeBank. This means you are more likely to find a better interest rate at TymeBank 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
TymeBank
9.57%
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 TymeBank, the best interest rate you can get is 9.57% for the 12-month fixed deposit. You will need a minimum deposit of R1 .

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

3 month fixed deposit interest rates compared

Discovery vs TymeBank

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

Investment amount Discovery1TymeBank1 Winner 2
R10,000 for 18+
7.95%
7.94%
+
0
R10,000 for 55+
7.95%
7.94%
+
0
R100,000 for 18+
7.95%
7.94%
+
2
R100,000 for 55+
7.95%
7.94%
+
2
R250,000 for 18+
7.95%
7.94%
+
6
R250,000 for 55+
7.95%
7.94%
+
6
R1,000,000 for 18+
7.95%
7.94%
+
24
R1,000,000 for 55+
7.95%
7.94%
+
24
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above TymeBank.
    A negative amount means that TymeBank 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). TymeBank's interest rate for the same terms is 7.94%. Over 3 months you will earn R24 more in interest at Discovery compared TymeBank.

6 month fixed deposit interest rates compared

Discovery vs TymeBank

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

Investment amount Discovery1TymeBank1 Winner 2
R10,000 for 18+
8.25%
8.83%
-
-30
R10,000 for 55+
8.25%
8.83%
-
-30
R100,000 for 18+
8.25%
8.83%
-
-302
R100,000 for 55+
8.25%
8.83%
-
-302
R250,000 for 18+
8.25%
8.83%
-
-755
R250,000 for 55+
8.25%
8.83%
-
-755
R1,000,000 for 18+
8.25%
8.83%
-
-3,019
R1,000,000 for 55+
8.25%
8.83%
-
-3,019
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above TymeBank.
    A negative amount means that TymeBank 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). TymeBank's interest rate for the same terms is 8.83%. Over 6 months you will earn R3,019 less in interest at Discovery compared TymeBank.

1 year fixed deposit interest rates compared

Discovery vs TymeBank

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

Investment amount Discovery1TymeBank1 Winner 2
R10,000 for 18+
8.30%
9.57%
-
-138
R10,000 for 55+
8.30%
9.57%
-
-138
R100,000 for 18+
8.30%
9.57%
-
-1,380
R100,000 for 55+
8.30%
9.57%
-
-1,380
R250,000 for 18+
8.30%
9.57%
-
-3,450
R250,000 for 55+
8.30%
9.57%
-
-3,450
R1,000,000 for 18+
8.30%
9.57%
-
-13,800
R1,000,000 for 55+
8.30%
9.57%
-
-13,800
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Discovery over and above TymeBank.
    A negative amount means that TymeBank 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). TymeBank's interest rate for the same terms is 9.57%. Over 12 months you will earn R13,800 less in interest at Discovery compared TymeBank.

How do Discovery interest rates compare to other banks?