Discovery Fixed Deposit Review for May 2025

Last updated 2nd May 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 May 2025 by Walter

R10,000
min deposit
8.50%
best rate

Here are Discovery's best fixed deposit rates

The best interest rate you can get at Discovery is 8.5% 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 8.50%
2 R10,000 36 months 8.10%
3 R10,000 12 months 8.00%
4 R10,000 24 months 7.90%
5 R10,000 18 months 7.85%
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% 7.25%
+
4
R10,000 for 55+7.40% 7.27%
+
3
R100,000 for 18+7.40% 7.36%
+
12
R100,000 for 55+7.40% 7.36%
+
12
R250,000 for 18+7.40% 7.36%
+
28
R250,000 for 55+7.40% 7.40%
+
3
R1,000,000 for 18+7.40% 7.42%
-
-54
R1,000,000 for 55+7.40% 7.46%
-
-148
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 7.25%. Over 3 months you will earn R4 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% 7.56%
-
0
R10,000 for 55+7.55% 7.53%
+
1
R100,000 for 18+7.55% 7.61%
-
-28
R100,000 for 55+7.55% 7.61%
-
-28
R250,000 for 18+7.55% 7.59%
-
-52
R250,000 for 55+7.55% 7.65%
-
-123
R1,000,000 for 18+7.55% 7.66%
-
-554
R1,000,000 for 55+7.55% 7.72%
-
-856
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 7.56%. Over 6 months you will earn R0 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+8.00% 7.85%
+
16
R10,000 for 55+8.00% 7.86%
+
15
R100,000 for 18+8.00% 7.90%
+
100
R100,000 for 55+8.00% 7.93%
+
72
R250,000 for 18+8.00% 7.91%
+
241
R250,000 for 55+8.00% 7.99%
+
18
R1,000,000 for 18+8.00% 7.95%
+
493
R1,000,000 for 55+8.00% 8.06%
-
-653
How to read this table?

You get a 8% 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 7.85%. Over 12 months you will earn R16 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+7.90% 7.91%
+
0
R10,000 for 55+7.90% 7.90%
+
3
R100,000 for 18+7.90% 7.95%
-
-102
R100,000 for 55+7.90% 7.92%
-
-31
R250,000 for 18+7.90% 7.99%
-
-492
R250,000 for 55+7.90% 7.97%
-
-383
R1,000,000 for 18+7.90% 8.03%
-
-2,794
R1,000,000 for 55+7.90% 8.05%
-
-3,185
How to read this table?

You get a 7.9% 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 7.91%. Over 2 years you will earn R0 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+8.10% 8.04%
+
28
R10,000 for 55+8.10% 8.03%
+
31
R100,000 for 18+8.10% 8.11%
+
24
R100,000 for 55+8.10% 8.06%
+
191
R250,000 for 18+8.10% 8.15%
-
-352
R250,000 for 55+8.10% 8.12%
-
-62
R1,000,000 for 18+8.10% 8.19%
-
-2,883
R1,000,000 for 55+8.10% 8.19%
-
-3,109
How to read this table?

You get a 8.1% 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 8.04%. Over 3 years you will earn R28 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+8.50% 8.75%
-
-181
R10,000 for 55+8.50% 8.68%
-
-133
R100,000 for 18+8.50% 8.77%
-
-2,001
R100,000 for 55+8.50% 8.69%
-
-1,418
R250,000 for 18+8.50% 8.81%
-
-5,702
R250,000 for 55+8.50% 8.74%
-
-4,428
R1,000,000 for 18+8.50% 8.84%
-
-25,236
R1,000,000 for 55+8.50% 8.81%
-
-22,921
How to read this table?

You get a 8.5% 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 8.75%. Over 5 years you will earn R181 less in interest at Discovery compared to the average bank.