Fedgroup vs Discovery

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

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

You are more likely to find better interest rates at Fedgroup than Discovery. Specifically, 100 out of 100 interest rates are better at Fedgroup than Discovery. This means you are more likely to find a better interest rate at Discovery 0% 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
Discovery
8.60%
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 Discovery, the best interest rate you can get is 8.6% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

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

5 year fixed deposit interest rates compared

Fedgroup vs Discovery

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

Investment amount Fedgroup1Discovery1 Winner 2
R10,000 for 18+
9.30%
8.60%
+
543
R10,000 for 55+
9.30%
8.60%
+
543
R100,000 for 18+
9.30%
8.60%
+
5,429
R100,000 for 55+
9.30%
8.60%
+
5,429
R250,000 for 18+
9.30%
8.60%
+
13,573
R250,000 for 55+
9.30%
8.60%
+
13,573
R1,000,000 for 18+
9.30%
8.60%
+
54,294
R1,000,000 for 55+
9.30%
8.60%
+
54,294
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Fedgroup over and above Discovery.
    A negative amount means that Discovery 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). Discovery's interest rate for the same terms is 8.60%. Over 5 years you will earn R54,294 more in interest at Fedgroup compared Discovery.

How do Fedgroup interest rates compare to other banks?