Nedbank vs Discovery

Interest rates compared

Last updated 3rd August 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 August 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, 93 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 7% 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
8.65%
best rate
Discovery
8.10%
best rate

The best interest rate you can get at Nedbank is 8.65% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 and be over the age of 55. Whilst at Discovery, the best interest rate you can get is 8.1% 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+
7.20%
7.05%
+
4
R10,000 for 18+
7.10%
7.05%
+
1
R10,000 for 55+
7.20%
7.05%
+
4
R10,000 for 55+
7.20%
7.05%
+
4
R10,000 for 55+
7.20%
7.05%
+
4
R100,000 for 18+
7.50%
7.05%
+
114
R100,000 for 18+
7.30%
7.05%
+
64
R100,000 for 55+
7.50%
7.05%
+
114
R100,000 for 55+
7.40%
7.05%
+
90
R100,000 for 55+
7.40%
7.05%
+
90
R250,000 for 18+
7.60%
7.05%
+
349
R250,000 for 18+
7.40%
7.05%
+
225
R250,000 for 55+
7.60%
7.05%
+
349
R250,000 for 55+
7.50%
7.05%
+
284
R250,000 for 55+
7.50%
7.05%
+
284
R1,000,000 for 18+
7.60%
7.05%
+
1,396
R1,000,000 for 18+
7.50%
7.05%
+
1,136
R1,000,000 for 55+
7.60%
7.05%
+
1,396
R1,000,000 for 55+
7.60%
7.05%
+
1,396
R1,000,000 for 55+
7.60%
7.05%
+
1,396
  • 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 7.6% 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 7.05%. Over 3 months you will earn R1,396 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+
7.40%
7.30%
+
5
R10,000 for 18+
7.30%
7.30%
-
0
R10,000 for 55+
7.40%
7.30%
+
5
R10,000 for 55+
7.40%
7.30%
+
5
R10,000 for 55+
7.40%
7.30%
+
5
R100,000 for 18+
7.70%
7.30%
+
207
R100,000 for 18+
7.50%
7.30%
+
101
R100,000 for 55+
7.70%
7.30%
+
207
R100,000 for 55+
7.60%
7.30%
+
154
R100,000 for 55+
7.60%
7.30%
+
154
R250,000 for 18+
7.80%
7.30%
+
638
R250,000 for 18+
7.60%
7.30%
+
385
R250,000 for 55+
7.80%
7.30%
+
638
R250,000 for 55+
7.70%
7.30%
+
518
R250,000 for 55+
7.70%
7.30%
+
518
R1,000,000 for 18+
7.80%
7.30%
+
2,552
R1,000,000 for 18+
7.65%
7.30%
+
1,782
R1,000,000 for 55+
7.80%
7.30%
+
2,552
R1,000,000 for 55+
7.80%
7.30%
+
2,552
R1,000,000 for 55+
7.75%
7.30%
+
2,312
  • 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 7.75% 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 7.30%. Over 6 months you will earn R2,312 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+
7.55%
7.50%
+
6
R10,000 for 18+
7.35%
7.50%
-
-16
R10,000 for 55+
7.55%
7.50%
+
6
R10,000 for 55+
7.55%
7.50%
+
6
R10,000 for 55+
7.35%
7.50%
-
-16
R100,000 for 18+
7.95%
7.50%
+
490
R100,000 for 18+
7.55%
7.50%
+
60
R100,000 for 55+
7.95%
7.50%
+
490
R100,000 for 55+
7.75%
7.50%
+
270
R100,000 for 55+
7.55%
7.50%
+
60
R250,000 for 18+
8.05%
7.50%
+
1,475
R250,000 for 18+
7.80%
7.50%
+
800
R250,000 for 55+
8.05%
7.50%
+
1,475
R250,000 for 55+
7.95%
7.50%
+
1,225
R250,000 for 55+
7.90%
7.50%
+
1,075
R1,000,000 for 18+
8.05%
7.50%
+
5,900
R1,000,000 for 18+
7.90%
7.50%
+
4,300
R1,000,000 for 55+
8.05%
7.50%
+
5,900
R1,000,000 for 55+
8.05%
7.50%
+
5,900
R1,000,000 for 55+
8.00%
7.50%
+
5,400
  • 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% 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 7.50%. Over 12 months you will earn R5,400 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+
7.55%
7.50%
+
13
R10,000 for 18+
7.45%
7.50%
-
-11
R10,000 for 55+
7.55%
7.50%
+
13
R10,000 for 55+
7.55%
7.50%
+
13
R10,000 for 55+
7.55%
7.50%
+
13
R100,000 for 18+
7.85%
7.50%
+
820
R100,000 for 18+
7.65%
7.50%
+
345
R100,000 for 55+
7.85%
7.50%
+
820
R100,000 for 55+
7.75%
7.50%
+
583
R100,000 for 55+
7.75%
7.50%
+
583
R250,000 for 18+
7.95%
7.50%
+
2,646
R250,000 for 18+
7.75%
7.50%
+
1,457
R250,000 for 55+
7.95%
7.50%
+
2,646
R250,000 for 55+
7.85%
7.50%
+
2,051
R250,000 for 55+
7.85%
7.50%
+
2,051
R1,000,000 for 18+
7.95%
7.50%
+
10,584
R1,000,000 for 18+
7.80%
7.50%
+
6,907
R1,000,000 for 55+
7.95%
7.50%
+
10,584
R1,000,000 for 55+
7.95%
7.50%
+
10,584
R1,000,000 for 55+
7.90%
7.50%
+
9,286
  • 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 7.9% 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 7.50%. Over 2 years you will earn R9,286 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+
7.60%
7.60%
-
0
R10,000 for 18+
7.50%
7.60%
-
-38
R10,000 for 55+
7.60%
7.60%
-
0
R10,000 for 55+
7.60%
7.60%
-
0
R10,000 for 55+
7.60%
7.60%
-
0
R100,000 for 18+
7.90%
7.60%
+
1,120
R100,000 for 18+
7.70%
7.60%
+
384
R100,000 for 55+
7.90%
7.60%
+
1,120
R100,000 for 55+
7.80%
7.60%
+
734
R100,000 for 55+
7.80%
7.60%
+
734
R250,000 for 18+
8.00%
7.60%
+
3,768
R250,000 for 18+
7.80%
7.60%
+
1,836
R250,000 for 55+
8.00%
7.60%
+
3,768
R250,000 for 55+
7.90%
7.60%
+
2,801
R250,000 for 55+
7.90%
7.60%
+
2,801
R1,000,000 for 18+
8.00%
7.60%
+
15,070
R1,000,000 for 18+
7.85%
7.60%
+
9,449
R1,000,000 for 55+
8.00%
7.60%
+
15,070
R1,000,000 for 55+
8.00%
7.60%
+
15,070
R1,000,000 for 55+
7.95%
7.60%
+
13,312
  • 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 3 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 7.60%. Over 3 years you will earn R13,312 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+
8.35%
8.10%
+
187
R10,000 for 18+
8.20%
8.10%
+
76
R10,000 for 55+
8.35%
8.10%
+
187
R10,000 for 55+
8.35%
8.10%
+
187
R10,000 for 55+
8.25%
8.10%
+
111
R100,000 for 18+
8.50%
8.10%
+
2,993
R100,000 for 18+
8.40%
8.10%
+
2,223
R100,000 for 55+
8.50%
8.10%
+
2,993
R100,000 for 55+
8.45%
8.10%
+
2,643
R100,000 for 55+
8.45%
8.10%
+
2,643
R250,000 for 18+
8.50%
8.10%
+
7,483
R250,000 for 55+
8.65%
8.10%
+
10,298
R250,000 for 55+
8.65%
8.10%
+
10,298
R250,000 for 55+
8.55%
8.10%
+
8,361
R250,000 for 55+
8.50%
8.10%
+
7,483
R1,000,000 for 18+
8.60%
8.10%
+
37,668
R1,000,000 for 55+
8.65%
8.10%
+
41,193
R1,000,000 for 55+
8.65%
8.10%
+
41,193
R1,000,000 for 55+
8.65%
8.10%
+
41,193
R1,000,000 for 55+
8.65%
8.10%
+
41,193
  • 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 8.65% 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 8.10%. Over 5 years you will earn R41,193 more in interest at Nedbank compared Discovery.

How do Nedbank interest rates compare to other banks?