Nedbank vs Discovery

Interest rates compared

Last updated 2nd February 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 2nd February 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, 63 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 37% 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
9.15%
best rate
Discovery
8.50%
best rate

The best interest rate you can get at Nedbank is 9.15% 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%
7.70%
-
-5
R10,000 for 55+
7.65%
7.70%
-
-3
R10,000 for 55+
7.60%
7.70%
-
-5
R100,000 for 18+
7.95%
7.70%
+
130
R100,000 for 18+
7.80%
7.70%
+
48
R100,000 for 55+
7.95%
7.70%
+
130
R100,000 for 55+
7.85%
7.70%
+
77
R100,000 for 55+
7.80%
7.70%
+
48
R250,000 for 18+
8.05%
7.70%
+
445
R250,000 for 18+
7.90%
7.70%
+
252
R250,000 for 55+
8.05%
7.70%
+
445
R250,000 for 55+
7.95%
7.70%
+
325
R250,000 for 55+
7.90%
7.70%
+
252
R1,000,000 for 18+
8.05%
7.70%
+
1,779
R1,000,000 for 18+
7.95%
7.70%
+
1,298
R1,000,000 for 55+
8.05%
7.70%
+
1,779
R1,000,000 for 55+
8.05%
7.70%
+
1,779
R1,000,000 for 55+
7.95%
7.70%
+
1,298
  • 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 7.70%. Over 6 months you will earn R1,298 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%
8.05%
-
-32
R10,000 for 55+
7.80%
8.05%
-
-27
R10,000 for 55+
7.75%
8.05%
-
-32
R100,000 for 18+
8.20%
8.05%
+
170
R100,000 for 18+
7.95%
8.05%
-
-100
R100,000 for 55+
8.20%
8.05%
+
170
R100,000 for 55+
8.00%
8.05%
-
-50
R100,000 for 55+
7.95%
8.05%
-
-100
R250,000 for 18+
8.30%
8.05%
+
675
R250,000 for 18+
8.05%
8.05%
-
0
R250,000 for 55+
8.30%
8.05%
+
675
R250,000 for 55+
8.20%
8.05%
+
425
R250,000 for 55+
8.05%
8.05%
-
0
R1,000,000 for 18+
8.30%
8.05%
+
2,700
R1,000,000 for 18+
8.10%
8.05%
+
600
R1,000,000 for 55+
8.30%
8.05%
+
2,700
R1,000,000 for 55+
8.30%
8.05%
+
2,700
R1,000,000 for 55+
8.10%
8.05%
+
600
  • 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 1 year fixed deposit (if you are older than 55). Discovery's interest rate for the same terms is 8.05%. Over 12 months you will earn R600 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%
8.05%
-
-69
R10,000 for 55+
7.85%
8.05%
-
-45
R10,000 for 55+
7.75%
8.05%
-
-69
R100,000 for 18+
8.05%
8.05%
-
0
R100,000 for 18+
7.95%
8.05%
-
-217
R100,000 for 55+
8.05%
8.05%
-
0
R100,000 for 55+
8.05%
8.05%
-
0
R100,000 for 55+
7.95%
8.05%
-
-217
R250,000 for 18+
8.25%
8.05%
+
1,193
R250,000 for 18+
8.05%
8.05%
-
0
R250,000 for 55+
8.25%
8.05%
+
1,193
R250,000 for 55+
8.15%
8.05%
+
596
R250,000 for 55+
8.05%
8.05%
-
0
R1,000,000 for 18+
8.25%
8.05%
+
4,772
R1,000,000 for 18+
8.10%
8.05%
+
1,301
R1,000,000 for 55+
8.25%
8.05%
+
4,772
R1,000,000 for 55+
8.25%
8.05%
+
4,772
R1,000,000 for 55+
8.10%
8.05%
+
1,301
  • 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 8.05%. Over 2 years you will earn R1,301 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+
8.85%
8.50%
+
268
R10,000 for 55+
8.15%
8.50%
-
-265
R100,000 for 18+
9.00%
8.50%
+
3,827
R100,000 for 18+
8.35%
8.50%
-
-1,119
R100,000 for 55+
9.00%
8.50%
+
3,827
R100,000 for 55+
8.95%
8.50%
+
3,469
R100,000 for 55+
8.35%
8.50%
-
-1,119
R250,000 for 18+
9.15%
8.50%
+
12,438
R250,000 for 18+
8.45%
8.50%
-
-876
R250,000 for 55+
9.15%
8.50%
+
12,438
R250,000 for 55+
9.00%
8.50%
+
9,567
R250,000 for 55+
8.45%
8.50%
-
-876
R1,000,000 for 18+
9.15%
8.50%
+
49,752
R1,000,000 for 18+
8.55%
8.50%
+
3,512
R1,000,000 for 55+
9.15%
8.50%
+
49,752
R1,000,000 for 55+
9.15%
8.50%
+
49,752
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?