Discovery Fixed Deposit Review for April 2025

Last updated 2nd April 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 2nd April 2025 by Walter

R10,000
min deposit
8.60%
best rate

Here are Discovery's best fixed deposit rates

The best interest rate you can get at Discovery is 8.6% 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
1 R10,000 60 months 8.60%
2 R10,000 36 months 8.20%
3 R10,000 12 months 8.10%
4 R10,000 24 months 8.05%
5 R10,000 18 months 8.00%
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% 7.36%
+
1
R10,000 for 55+7.40% 7.37%
+
1
R100,000 for 18+7.40% 7.42%
-
-5
R100,000 for 55+7.40% 7.43%
-
-8
R250,000 for 18+7.40% 7.42%
-
-13
R250,000 for 55+7.40% 7.48%
-
-48
R1,000,000 for 18+7.40% 7.49%
-
-230
R1,000,000 for 55+7.40% 7.55%
-
-365
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 7.36%. Over 3 months you will earn R1 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+7.70% 7.71%
-
-1
R10,000 for 55+7.70% 7.67%
+
2
R100,000 for 18+7.70% 7.79%
-
-47
R100,000 for 55+7.70% 7.74%
-
-18
R250,000 for 18+7.70% 7.82%
-
-151
R250,000 for 55+7.70% 7.78%
-
-97
R1,000,000 for 18+7.70% 7.86%
-
-824
R1,000,000 for 55+7.70% 7.85%
-
-754
How to read this table?

You get a 7.7% 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 7.71%. Over 6 months you will earn R1 less 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+8.10% 8.05%
+
6
R10,000 for 55+8.10% 8.07%
+
4
R100,000 for 18+8.10% 8.13%
-
-32
R100,000 for 55+8.10% 8.13%
-
-27
R250,000 for 18+8.10% 8.16%
-
-154
R250,000 for 55+8.10% 8.18%
-
-197
R1,000,000 for 18+8.10% 8.20%
-
-1,075
R1,000,000 for 55+8.10% 8.24%
-
-1,513
How to read this table?

You get a 8.1% 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 8.05%. Over 12 months you will earn R6 more 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+8.05% 8.11%
-
-10
R10,000 for 55+8.05% 8.08%
-
-4
R100,000 for 18+8.05% 8.15%
-
-221
R100,000 for 55+8.05% 8.11%
-
-123
R250,000 for 18+8.05% 8.19%
-
-764
R250,000 for 55+8.05% 8.16%
-
-597
R1,000,000 for 18+8.05% 8.22%
-
-3,850
R1,000,000 for 55+8.05% 8.23%
-
-3,962
How to read this table?

You get a 8.05% 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 8.11%. Over 2 years you will earn R10 less 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+8.20% 8.29%
-
-27
R10,000 for 55+8.20% 8.24%
-
-10
R100,000 for 18+8.20% 8.35%
-
-486
R100,000 for 55+8.20% 8.27%
-
-193
R250,000 for 18+8.20% 8.39%
-
-1,636
R250,000 for 55+8.20% 8.32%
-
-1,030
R1,000,000 for 18+8.20% 8.43%
-
-8,097
R1,000,000 for 55+8.20% 8.40%
-
-7,044
How to read this table?

You get a 8.2% 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 8.29%. Over 3 years you will earn R27 less 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+8.60% 8.89%
-
-213
R10,000 for 55+8.60% 8.83%
-
-172
R100,000 for 18+8.60% 8.94%
-
-2,498
R100,000 for 55+8.60% 8.86%
-
-1,946
R250,000 for 18+8.60% 8.97%
-
-6,966
R250,000 for 55+8.60% 8.91%
-
-5,756
R1,000,000 for 18+8.60% 9.01%
-
-30,372
R1,000,000 for 55+8.60% 8.98%
-
-28,320
How to read this table?

You get a 8.6% 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 8.89%. Over 5 years you will earn R213 less in interest at Discovery compared to the average bank.