Nedbank
vs
Absa
Interest rates compared
Introduction
This fixed deposit comparison page compares Nedbank interest rates to Absa interest rates. All the interest rates shown are sourced from the Nedbank and Absa 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 Nedbank fixed deposit interest rates compare to Absa ?
You are more likely to find better interest rates at Nedbank than Absa. Specifically, 83 out of 100 interest rates are better at Nedbank than Absa. This means you are more likely to find a better interest rate at Absa 17% 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 Nedbank is 9.81% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 . Whilst at Absa, the best interest rate you can get is 9.2% for the 12-month fixed deposit. You will need a minimum deposit of R1,000 and be over the age of 55.
But how do interest rates at Nedbank compare to Absa across different terms and investment amounts?
3 month fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 month fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 7.75% | 7.85% | - -3 |
| R10,000 for 55+ | 8.00% | 8.10% | - -3 |
| R100,000 for 18+ | 8.30% | 7.85% | + 113 |
| R100,000 for 18+ | 7.95% | 7.85% | + 26 |
| R100,000 for 55+ | 8.20% | 8.10% | + 26 |
| R250,000 for 18+ | 8.40% | 7.85% | + 347 |
| R250,000 for 18+ | 8.05% | 7.85% | + 124 |
| R250,000 for 55+ | 8.30% | 8.10% | + 123 |
| R1,000,000 for 18+ | 8.40% | 7.85% | + 1,388 |
| R1,000,000 for 18+ | 8.15% | 7.85% | + 754 |
| R1,000,000 for 55+ | 8.40% | 8.10% | + 752 |
| R5,000,000 for 18+ | 8.40% | 7.85% | + 6,940 |
| R5,000,000 for 18+ | 8.15% | 7.85% | + 3,768 |
| R5,000,000 for 55+ | 8.40% | 8.10% | + 3,761 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 8.4% interest rate at Nedbank for a R5,000,000 investment in a 3 month fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.10%. Over 3 months you will earn R3,761 more in interest at Nedbank compared Absa.
6 month fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 6 month fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 8.15% | 8.40% | - -13 |
| R10,000 for 55+ | 8.25% | 8.45% | - -11 |
| R100,000 for 18+ | 8.55% | 8.40% | + 77 |
| R100,000 for 18+ | 8.35% | 8.40% | - -24 |
| R100,000 for 55+ | 8.45% | 8.45% | - 0 |
| R250,000 for 18+ | 8.65% | 8.40% | + 323 |
| R250,000 for 18+ | 8.45% | 8.40% | + 72 |
| R250,000 for 55+ | 8.55% | 8.45% | + 120 |
| R1,000,000 for 18+ | 8.65% | 8.40% | + 1,294 |
| R1,000,000 for 18+ | 8.55% | 8.40% | + 767 |
| R1,000,000 for 55+ | 8.65% | 8.45% | + 1,006 |
| R5,000,000 for 18+ | 8.65% | 8.40% | + 6,469 |
| R5,000,000 for 18+ | 8.55% | 8.40% | + 3,835 |
| R5,000,000 for 55+ | 8.65% | 8.45% | + 5,031 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 8.65% interest rate at Nedbank for a R5,000,000 investment in a 6 month fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.45%. Over 6 months you will earn R5,031 more in interest at Nedbank compared Absa.
1 year fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 1 year fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 8.65% | 8.95% | - -33 |
| R10,000 for 55+ | 8.65% | 9.20% | - -60 |
| R100,000 for 18+ | 9.05% | 8.95% | + 100 |
| R100,000 for 18+ | 8.85% | 8.95% | - -110 |
| R100,000 for 55+ | 8.85% | 9.20% | - -380 |
| R250,000 for 18+ | 9.10% | 8.95% | + 400 |
| R250,000 for 18+ | 8.95% | 8.95% | - 0 |
| R250,000 for 55+ | 9.05% | 9.20% | - -425 |
| R1,000,000 for 18+ | 9.10% | 8.95% | + 1,600 |
| R1,000,000 for 18+ | 9.00% | 8.95% | + 500 |
| R1,000,000 for 55+ | 9.10% | 9.20% | - -1,100 |
| R5,000,000 for 18+ | 9.10% | 8.95% | + 8,000 |
| R5,000,000 for 18+ | 9.00% | 8.95% | + 2,500 |
| R5,000,000 for 55+ | 9.10% | 9.20% | - -5,500 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 9.1% interest rate at Nedbank for a R5,000,000 investment in a 1 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 9.20%. Over 12 months you will earn R5,500 less in interest at Nedbank compared Absa.
2 year fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 8.40% | 8.00% | + 93 |
| R10,000 for 55+ | 8.55% | 8.05% | + 117 |
| R100,000 for 18+ | 8.75% | 8.00% | + 1,761 |
| R100,000 for 18+ | 8.60% | 8.00% | + 1,412 |
| R100,000 for 55+ | 8.75% | 8.05% | + 1,653 |
| R250,000 for 18+ | 8.95% | 8.00% | + 5,604 |
| R250,000 for 18+ | 8.70% | 8.00% | + 4,130 |
| R250,000 for 55+ | 8.85% | 8.05% | + 4,732 |
| R1,000,000 for 18+ | 8.95% | 8.00% | + 22,416 |
| R1,000,000 for 18+ | 8.75% | 8.00% | + 17,610 |
| R1,000,000 for 55+ | 8.95% | 8.05% | + 21,333 |
| R5,000,000 for 18+ | 8.95% | 8.00% | + 112,079 |
| R5,000,000 for 18+ | 8.75% | 8.00% | + 88,051 |
| R5,000,000 for 55+ | 8.95% | 8.05% | + 106,663 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 8.95% interest rate at Nedbank for a R5,000,000 investment in a 2 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.05%. Over 2 years you will earn R106,663 more in interest at Nedbank compared Absa.
3 year fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 3 year fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 8.45% | 8.10% | + 134 |
| R10,000 for 55+ | 8.60% | 8.15% | + 174 |
| R100,000 for 18+ | 8.80% | 8.10% | + 2,663 |
| R100,000 for 18+ | 8.65% | 8.10% | + 2,092 |
| R100,000 for 55+ | 8.80% | 8.15% | + 2,486 |
| R250,000 for 18+ | 9.00% | 8.10% | + 8,627 |
| R250,000 for 18+ | 8.75% | 8.10% | + 6,210 |
| R250,000 for 55+ | 8.90% | 8.15% | + 7,200 |
| R1,000,000 for 18+ | 9.00% | 8.10% | + 34,507 |
| R1,000,000 for 18+ | 8.80% | 8.10% | + 26,627 |
| R1,000,000 for 55+ | 9.00% | 8.15% | + 32,744 |
| R5,000,000 for 18+ | 9.00% | 8.10% | + 172,537 |
| R5,000,000 for 18+ | 8.80% | 8.10% | + 133,135 |
| R5,000,000 for 55+ | 9.00% | 8.15% | + 163,718 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 9% interest rate at Nedbank for a R5,000,000 investment in a 3 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.15%. Over 3 years you will earn R163,718 more in interest at Nedbank compared Absa.
5 year fixed deposit interest rates compared
This table shows Nedbank's and Absa's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit.
| Investment amount | Nedbank1 | Absa1 | Winner 2 |
|---|---|---|---|
| R10,000 for 18+ | 9.15% | 8.65% | + 385 |
| R10,000 for 55+ | 9.35% | 8.70% | + 502 |
| R100,000 for 18+ | 9.55% | 8.65% | + 7,042 |
| R100,000 for 18+ | 9.35% | 8.65% | + 5,439 |
| R100,000 for 55+ | 9.45% | 8.70% | + 5,815 |
| R250,000 for 18+ | 9.81% | 8.65% | + 22,752 |
| R250,000 for 18+ | 9.45% | 8.65% | + 15,598 |
| R250,000 for 55+ | 9.55% | 8.70% | + 16,546 |
| R1,000,000 for 18+ | 9.81% | 8.65% | + 91,010 |
| R1,000,000 for 18+ | 9.55% | 8.65% | + 70,422 |
| R1,000,000 for 55+ | 9.81% | 8.70% | + 86,770 |
| R5,000,000 for 18+ | 9.81% | 8.65% | + 455,048 |
| R5,000,000 for 18+ | 9.55% | 8.65% | + 352,112 |
| R5,000,000 for 55+ | 9.81% | 8.70% | + 433,851 |
- 1 nominal interest rate
- 2 the amount of interest you will be able earn at Nedbank over and above Absa.
A negative amount means that Absa offers more than Nedbank.
You get a 9.81% interest rate at Nedbank for a R5,000,000 investment in a 5 year fixed deposit (if you are older than 55). Absa's interest rate for the same terms is 8.70%. Over 5 years you will earn R433,851 more in interest at Nedbank compared Absa.
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