Discovery Fixed Deposit Review for July 2025

Last updated 1st July 2025 by Walter

Introduction

This page summarises all the fixed deposits offered by Discovery. All the rates shown are sourced from the Discovery website - discovery.co.za. All rates shown on this page have been converted to nominal and effective annual rates! This allows you to compare rates across all banks. Yippee!

The Discovery fixed deposit interest calculator, allows you to calculate how much interest you will earn for your age, investment amount and term.

Discovery fixed deposits highlights

last updated 1st July 2025 by Walter

R10,000
min deposit
8.35%
best rate

Here are Discovery's best fixed deposit rates

The best interest rate you can get at Discovery is 8.35% for the 60-month fixed deposit. You will need a minimum deposit of R10,000 .

Here are Discovery's five best fixed deposit interest rates:

# Min deposit Term Nominal
P
only individuals older than 55 qualify

Discovery 3 month fixed deposit

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

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+7.40% 7.15%
+
6
R10,000 for 55+7.40% 7.18%
+
6
R100,000 for 18+7.40% 7.23%
+
44
R100,000 for 55+7.40% 7.26%
+
36
R250,000 for 18+7.40% 7.24%
+
103
R250,000 for 55+7.40% 7.32%
+
52
R1,000,000 for 18+7.40% 7.33%
+
192
R1,000,000 for 55+7.40% 7.40%
-
-3
How to read this table?

You get a 7.4% interest rate at Discovery for a R10,000 investment in a 3 month fixed deposit (if you are older than 18). The industry average is 7.15%. Over 3 months you will earn R6 more in interest at Discovery compared to the average bank.

Discovery 6 month fixed deposit

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

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+7.55% 7.45%
+
5
R10,000 for 55+7.55% 7.42%
+
7
R100,000 for 18+7.55% 7.48%
+
38
R100,000 for 55+7.55% 7.50%
+
27
R250,000 for 18+7.55% 7.47%
+
113
R250,000 for 55+7.55% 7.55%
+
4
R1,000,000 for 18+7.55% 7.53%
+
129
R1,000,000 for 55+7.55% 7.62%
-
-336
How to read this table?

You get a 7.55% interest rate at Discovery for a R10,000 investment in a 6 month fixed deposit (if you are older than 18). The industry average is 7.45%. Over 6 months you will earn R5 more in interest at Discovery compared to the average bank.

Discovery 1 year fixed deposit

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

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+7.65% 7.67%
-
-3
R10,000 for 55+7.65% 7.72%
-
-7
R100,000 for 18+7.65% 7.79%
-
-154
R100,000 for 55+7.65% 7.83%
-
-192
R250,000 for 18+7.65% 7.80%
-
-423
R250,000 for 55+7.65% 7.90%
-
-675
R1,000,000 for 18+7.65% 7.85%
-
-2,214
R1,000,000 for 55+7.65% 7.97%
-
-3,480
How to read this table?

You get a 7.65% interest rate at Discovery for a R10,000 investment in a 1 year fixed deposit (if you are older than 18). The industry average is 7.67%. Over 12 months you will earn R3 less in interest at Discovery compared to the average bank.

Discovery 2 year fixed deposit

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

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+7.70% 7.68%
+
8
R10,000 for 55+7.70% 7.71%
+
1
R100,000 for 18+7.70% 7.81%
-
-214
R100,000 for 55+7.70% 7.79%
-
-183
R250,000 for 18+7.70% 7.86%
-
-844
R250,000 for 55+7.70% 7.85%
-
-821
R1,000,000 for 18+7.70% 7.91%
-
-4,459
R1,000,000 for 55+7.70% 7.93%
-
-5,125
How to read this table?

You get a 7.7% interest rate at Discovery for a R10,000 investment in a 2 year fixed deposit (if you are older than 18). The industry average is 7.68%. Over 2 years you will earn R8 more in interest at Discovery compared to the average bank.

Discovery 3 year fixed deposit

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

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+7.85% 7.81%
+
21
R10,000 for 55+7.85% 7.85%
+
6
R100,000 for 18+7.85% 7.98%
-
-418
R100,000 for 55+7.85% 7.94%
-
-308
R250,000 for 18+7.85% 8.03%
-
-1,598
R250,000 for 55+7.85% 8.01%
-
-1,419
R1,000,000 for 18+7.85% 8.07%
-
-7,723
R1,000,000 for 55+7.85% 8.08%
-
-8,453
How to read this table?

You get a 7.85% interest rate at Discovery for a R10,000 investment in a 3 year fixed deposit (if you are older than 18). The industry average is 7.81%. Over 3 years you will earn R21 more in interest at Discovery compared to the average bank.

Discovery 5 year fixed deposit

This table shows Discovery's interest rates for a R10,000, R100,000, R250,000 and R1,000,000 investment in a 5 year fixed deposit versus the industry average.

Investment amount Nominal Industry average1 Earnings vs average2
R10,000 for 18+8.35% 8.50%
-
-105
R10,000 for 55+8.35% 8.48%
-
-90
R100,000 for 18+8.35% 8.61%
-
-1,913
R100,000 for 55+8.35% 8.56%
-
-1,495
R250,000 for 18+8.35% 8.67%
-
-5,845
R250,000 for 55+8.35% 8.62%
-
-4,911
R1,000,000 for 18+8.35% 8.73%
-
-28,385
R1,000,000 for 55+8.35% 8.71%
-
-26,910
How to read this table?

You get a 8.35% interest rate at Discovery for a R10,000 investment in a 5 year fixed deposit (if you are older than 18). The industry average is 8.50%. Over 5 years you will earn R105 less in interest at Discovery compared to the average bank.