Nedbank vs Discovery

Interest rates compared

Last updated 4th June 2025 by Walter

Introduction

This fixed deposit comparison page compares Nedbank interest rates to Discovery interest rates. All the interest rates shown are sourced from the Nedbank 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 4th June 2025.

How do Nedbank fixed deposit interest rates compare to Discovery ?

You are more likely to find better interest rates at Nedbank than Discovery. Specifically, 74 out of 100 interest rates are better at Nedbank than Discovery. This means you are more likely to find a better interest rate at Discovery 26% 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)

Nedbank
9.00%
best rate
Discovery
8.50%
best rate

The best interest rate you can get at Nedbank is 9% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 . Whilst at Discovery, the best interest rate you can get is 8.5% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

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

3 month fixed deposit interest rates compared

Nedbank vs Discovery

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

Investment amount Nedbank1Discovery1 Winner 2
R10,000 for 18+
7.30%
7.40%
-
-3
R10,000 for 55+
7.40%
7.40%
-
0
R10,000 for 55+
7.30%
7.40%
-
-3
R100,000 for 18+
7.70%
7.40%
+
76
R100,000 for 18+
7.50%
7.40%
+
24
R100,000 for 55+
7.70%
7.40%
+
76
R100,000 for 55+
7.60%
7.40%
+
50
R100,000 for 55+
7.50%
7.40%
+
24
R250,000 for 18+
7.80%
7.40%
+
248
R250,000 for 18+
7.60%
7.40%
+
124
R250,000 for 55+
7.80%
7.40%
+
248
R250,000 for 55+
7.70%
7.40%
+
189
R250,000 for 55+
7.60%
7.40%
+
124
R1,000,000 for 18+
7.80%
7.40%
+
992
R1,000,000 for 18+
7.70%
7.40%
+
756
R1,000,000 for 55+
7.80%
7.40%
+
992
R1,000,000 for 55+
7.80%
7.40%
+
992
R1,000,000 for 55+
7.70%
7.40%
+
756
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 7.7% interest rate at Nedbank for a R1,000,000 investment in a 3 month fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 7.40%. Over 3 months you will earn R756 more in interest at Nedbank compared Discovery.

6 month fixed deposit interest rates compared

Nedbank vs Discovery

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

Investment amount Nedbank1Discovery1 Winner 2
R10,000 for 18+
7.60%
7.55%
+
2
R10,000 for 55+
7.65%
7.55%
+
5
R10,000 for 55+
7.60%
7.55%
+
2
R100,000 for 18+
7.95%
7.55%
+
207
R100,000 for 18+
7.80%
7.55%
+
125
R100,000 for 55+
7.95%
7.55%
+
207
R100,000 for 55+
7.85%
7.55%
+
154
R100,000 for 55+
7.80%
7.55%
+
125
R250,000 for 18+
8.05%
7.55%
+
637
R250,000 for 18+
7.90%
7.55%
+
445
R250,000 for 55+
8.05%
7.55%
+
637
R250,000 for 55+
7.95%
7.55%
+
517
R250,000 for 55+
7.90%
7.55%
+
445
R1,000,000 for 18+
8.05%
7.55%
+
2,549
R1,000,000 for 18+
7.95%
7.55%
+
2,069
R1,000,000 for 55+
8.05%
7.55%
+
2,549
R1,000,000 for 55+
8.05%
7.55%
+
2,549
R1,000,000 for 55+
7.95%
7.55%
+
2,069
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 7.95% interest rate at Nedbank for a R1,000,000 investment in a 6 month fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 7.55%. Over 6 months you will earn R2,069 more in interest at Nedbank compared Discovery.

1 year fixed deposit interest rates compared

Nedbank vs Discovery

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

Investment amount Nedbank1Discovery1 Winner 2
R10,000 for 18+
7.75%
8.00%
-
-27
R10,000 for 55+
7.80%
8.00%
-
-22
R10,000 for 55+
7.75%
8.00%
-
-27
R100,000 for 18+
8.20%
8.00%
+
220
R100,000 for 18+
7.95%
8.00%
-
-50
R100,000 for 55+
8.20%
8.00%
+
220
R100,000 for 55+
8.00%
8.00%
-
0
R100,000 for 55+
7.95%
8.00%
-
-50
R250,000 for 18+
8.30%
8.00%
+
800
R250,000 for 18+
8.20%
8.00%
+
550
R250,000 for 55+
8.30%
8.00%
+
800
R250,000 for 55+
8.20%
8.00%
+
550
R250,000 for 55+
8.20%
8.00%
+
550
R1,000,000 for 18+
8.30%
8.00%
+
3,200
R1,000,000 for 18+
8.30%
8.00%
+
3,200
R1,000,000 for 55+
8.30%
8.00%
+
3,200
R1,000,000 for 55+
8.30%
8.00%
+
3,200
R1,000,000 for 55+
8.30%
8.00%
+
3,200
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 8.3% interest rate at Nedbank for a R1,000,000 investment in a 1 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.00%. Over 12 months you will earn R3,200 more in interest at Nedbank compared Discovery.

2 year fixed deposit interest rates compared

Nedbank vs Discovery

This table shows Nedbank's and Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 2 year fixed deposit.

Investment amount Nedbank1Discovery1 Winner 2
R10,000 for 18+
7.75%
7.90%
-
-35
R10,000 for 55+
7.85%
7.90%
-
-11
R10,000 for 55+
7.75%
7.90%
-
-35
R100,000 for 18+
8.05%
7.90%
+
346
R100,000 for 18+
7.95%
7.90%
+
130
R100,000 for 55+
8.05%
7.90%
+
346
R100,000 for 55+
8.05%
7.90%
+
346
R100,000 for 55+
7.95%
7.90%
+
130
R250,000 for 18+
8.25%
7.90%
+
2,059
R250,000 for 18+
8.05%
7.90%
+
866
R250,000 for 55+
8.25%
7.90%
+
2,059
R250,000 for 55+
8.15%
7.90%
+
1,462
R250,000 for 55+
8.05%
7.90%
+
866
R1,000,000 for 18+
8.25%
7.90%
+
8,237
R1,000,000 for 18+
8.10%
7.90%
+
4,765
R1,000,000 for 55+
8.25%
7.90%
+
8,237
R1,000,000 for 55+
8.25%
7.90%
+
8,237
R1,000,000 for 55+
8.10%
7.90%
+
4,765
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 8.1% interest rate at Nedbank for a R1,000,000 investment in a 2 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 7.90%. Over 2 years you will earn R4,765 more in interest at Nedbank compared Discovery.

3 year fixed deposit interest rates compared

Nedbank vs Discovery

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

Investment amount Nedbank1Discovery1 Winner 2
R10,000 for 18+
7.80%
8.10%
-
-116
R10,000 for 55+
7.90%
8.10%
-
-77
R10,000 for 55+
7.80%
8.10%
-
-116
R100,000 for 18+
8.10%
8.10%
-
0
R100,000 for 18+
8.00%
8.10%
-
-387
R100,000 for 55+
8.10%
8.10%
-
0
R100,000 for 55+
8.10%
8.10%
-
0
R100,000 for 55+
8.00%
8.10%
-
-387
R250,000 for 18+
8.30%
8.10%
+
1,855
R250,000 for 18+
8.10%
8.10%
-
0
R250,000 for 55+
8.30%
8.10%
+
1,855
R250,000 for 55+
8.20%
8.10%
+
971
R250,000 for 55+
8.10%
8.10%
-
0
R1,000,000 for 18+
8.30%
8.10%
+
7,419
R1,000,000 for 18+
8.15%
8.10%
+
1,764
R1,000,000 for 55+
8.30%
8.10%
+
7,419
R1,000,000 for 55+
8.30%
8.10%
+
7,419
R1,000,000 for 55+
8.15%
8.10%
+
1,764
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 8.15% interest rate at Nedbank for a R1,000,000 investment in a 3 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.10%. Over 3 years you will earn R1,764 more in interest at Nedbank compared Discovery.

5 year fixed deposit interest rates compared

Nedbank vs Discovery

This table shows Nedbank'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 Nedbank1Discovery1 Winner 2
R10,000 for 18+
8.15%
8.50%
-
-265
R10,000 for 55+
8.70%
8.50%
+
155
R10,000 for 55+
8.15%
8.50%
-
-265
R100,000 for 18+
8.85%
8.50%
+
2,685
R100,000 for 18+
8.35%
8.50%
-
-1,119
R100,000 for 55+
8.85%
8.50%
+
2,685
R100,000 for 55+
8.80%
8.50%
+
2,259
R100,000 for 55+
8.35%
8.50%
-
-1,119
R250,000 for 18+
9.00%
8.50%
+
9,567
R250,000 for 18+
8.45%
8.50%
-
-876
R250,000 for 55+
9.00%
8.50%
+
9,567
R250,000 for 55+
8.85%
8.50%
+
6,712
R250,000 for 55+
8.45%
8.50%
-
-876
R1,000,000 for 18+
9.00%
8.50%
+
38,267
R1,000,000 for 18+
8.55%
8.50%
+
3,512
R1,000,000 for 55+
9.00%
8.50%
+
38,267
R1,000,000 for 55+
9.00%
8.50%
+
38,267
R1,000,000 for 55+
8.55%
8.50%
+
3,512
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Nedbank over and above Discovery.
    A negative amount means that Discovery offers more than Nedbank.
How to read this table?

You get a 8.55% interest rate at Nedbank 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 8.50%. Over 5 years you will earn R3,512 more in interest at Nedbank compared Discovery.

How do Nedbank interest rates compare to other banks?