Fedgroup vs African Bank

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

This fixed deposit comparison page compares Fedgroup interest rates to African Bank interest rates. All the interest rates shown are sourced from the Fedgroup and African 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 Fedgroup fixed deposit interest rates compare to African Bank ?

You are more likely to find better interest rates at African Bank than Fedgroup. Specifically, 0 out of 100 interest rates are better at Fedgroup than African Bank. This means you are more likely to find a better interest rate at African Bank 100% 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)

Fedgroup
9.30%
best rate
African Bank
9.94%
best rate

The best interest rate you can get at Fedgroup is 9.3% for the 60-month fixed deposit. You will need a minimum deposit of R5,000 . Whilst at African Bank, the best interest rate you can get is 9.94% for the 60-month fixed deposit. You will need a minimum deposit of R500 .

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

5 year fixed deposit interest rates compared

Fedgroup vs African Bank

This table shows Fedgroup's and African 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 Fedgroup1African Bank1 Winner 2
R10,000 for 18+
9.30%
9.94%
-
-514
R10,000 for 55+
9.30%
9.94%
-
-514
R100,000 for 18+
9.30%
9.94%
-
-5,136
R100,000 for 55+
9.30%
9.94%
-
-5,136
R250,000 for 18+
9.30%
9.94%
-
-12,839
R250,000 for 55+
9.30%
9.94%
-
-12,839
R1,000,000 for 18+
9.30%
9.94%
-
-51,356
R1,000,000 for 55+
9.30%
9.94%
-
-51,356
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Fedgroup over and above African Bank.
    A negative amount means that African Bank offers more than Fedgroup.
How to read this table?

You get a 9.3% interest rate at Fedgroup for a R1,000,000 investment in a 5 year fixed deposit (if you are older than 55). African Bank's interest rate for the same terms is 9.94%. Over 5 years you will earn R51,356 less in interest at Fedgroup compared African Bank.

How do Fedgroup interest rates compare to other banks?