Standard Bank vs Discovery

Interest rates compared

Last updated 1st November 2024 by Walter

Introduction

This fixed deposit comparison page compares Standard Bank interest rates to Discovery interest rates. All the interest rates shown are sourced from the Standard Bank 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 Standard Bank fixed deposit interest rates compare to Discovery ?

You are more likely to find better interest rates at Discovery than Standard Bank. Specifically, 40 out of 100 interest rates are better at Standard Bank than Discovery. This means you are more likely to find a better interest rate at Discovery 60% 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)

Standard Bank
8.85%
best rate
Discovery
8.60%
best rate

The best interest rate you can get at Standard Bank is 8.85% for the 60-month fixed deposit. You will need a minimum deposit of R100,000 . 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 Standard Bank compare to Discovery across different terms and investment amounts?

3 month fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
6.93%
7.95%
-
-26
R10,000 for 55+
7.43%
7.95%
-
-13
R100,000 for 18+
7.61%
7.95%
-
-87
R100,000 for 55+
7.61%
7.95%
-
-87
R250,000 for 18+
7.61%
7.95%
-
-218
R250,000 for 55+
7.61%
7.95%
-
-218
R1,000,000 for 18+
7.71%
7.95%
-
-613
R1,000,000 for 55+
7.71%
7.95%
-
-613
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 7.71% interest rate at Standard Bank 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 7.95%. Over 3 months you will earn R613 less in interest at Standard Bank compared Discovery.

6 month fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
7.19%
8.25%
-
-55
R10,000 for 55+
7.69%
8.25%
-
-29
R100,000 for 18+
7.74%
8.25%
-
-264
R100,000 for 55+
7.74%
8.25%
-
-264
R250,000 for 18+
7.74%
8.25%
-
-661
R250,000 for 55+
7.74%
8.25%
-
-661
R1,000,000 for 18+
7.84%
8.25%
-
-2,114
R1,000,000 for 55+
7.84%
8.25%
-
-2,114
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 7.84% interest rate at Standard Bank 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 8.25%. Over 6 months you will earn R2,114 less in interest at Standard Bank compared Discovery.

1 year fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
7.18%
8.30%
-
-120
R10,000 for 55+
7.68%
8.30%
-
-66
R100,000 for 18+
7.88%
8.30%
-
-450
R100,000 for 55+
7.88%
8.30%
-
-450
R250,000 for 18+
7.88%
8.30%
-
-1,125
R250,000 for 55+
7.88%
8.30%
-
-1,125
R1,000,000 for 18+
7.98%
8.30%
-
-3,400
R1,000,000 for 55+
7.98%
8.30%
-
-3,400
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 7.98% interest rate at Standard Bank 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 8.30%. Over 12 months you will earn R3,400 less in interest at Standard Bank compared Discovery.

2 year fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
7.39%
8.10%
-
-164
R10,000 for 55+
7.89%
8.10%
-
-50
R100,000 for 18+
8.26%
8.10%
+
369
R100,000 for 55+
8.26%
8.10%
+
369
R250,000 for 18+
8.26%
8.10%
+
922
R250,000 for 55+
8.26%
8.10%
+
922
R1,000,000 for 18+
8.26%
8.10%
+
3,689
R1,000,000 for 55+
8.26%
8.10%
+
3,689
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 8.26% interest rate at Standard Bank 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 8.10%. Over 2 years you will earn R3,689 more in interest at Standard Bank compared Discovery.

3 year fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
7.66%
8.10%
-
-168
R10,000 for 55+
8.16%
8.10%
+
21
R100,000 for 18+
8.13%
8.10%
+
106
R100,000 for 55+
8.13%
8.10%
+
106
R250,000 for 18+
8.13%
8.10%
+
265
R250,000 for 55+
8.13%
8.10%
+
265
R1,000,000 for 18+
8.13%
8.10%
+
1,058
R1,000,000 for 55+
8.13%
8.10%
+
1,058
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 8.13% interest rate at Standard Bank 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 R1,058 more in interest at Standard Bank compared Discovery.

5 year fixed deposit interest rates compared

Standard Bank vs Discovery

This table shows Standard Bank'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 Standard Bank1Discovery1 Winner 2
R10,000 for 18+
7.86%
8.60%
-
-555
R10,000 for 55+
8.36%
8.60%
-
-182
R100,000 for 18+
8.85%
8.60%
+
1,912
R100,000 for 55+
8.85%
8.60%
+
1,912
R250,000 for 18+
8.85%
8.60%
+
4,779
R250,000 for 55+
8.85%
8.60%
+
4,779
R1,000,000 for 18+
8.85%
8.60%
+
19,116
R1,000,000 for 55+
8.85%
8.60%
+
19,116
  • 1 nominal interest rate
  • 2 the amount of interest you will be able earn at Standard Bank over and above Discovery.
    A negative amount means that Discovery offers more than Standard Bank.
How to read this table?

You get a 8.85% interest rate at Standard Bank 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 R19,116 more in interest at Standard Bank compared Discovery.

How do Standard Bank interest rates compare to other banks?