Nedbank Fixed Deposit Review for December 2024

Last updated 2nd December 2024 by Walter

Introduction

This page summarises all the fixed deposits offered by Nedbank. All the rates shown are sourced from the Nedbank website - nedbank.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 Nedbank fixed deposit interest calculator, allows you to calculate how much interest you will earn for your age, investment amount and term.

Nedbank fixed deposits highlights

last updated 2nd December 2024 by Walter

R1,000
min deposit
9.25%
best rate

Here are Nedbank's best fixed deposit rates

The best interest rate you can get at Nedbank is 9.25% for the 60-month fixed deposit. You will need a minimum deposit of R250,000 .

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

# Min deposit Term Nominal
1 R250,000 60 months 9.25%
2 R100,000 60 months 9.10%
3 R25,000 P60 months 9.05%
4 R1,000 P60 months 8.95%
5 R250,000 12 months 8.80%
P
only individuals older than 55 qualify

Nedbank 3 month fixed deposit

This table shows Nedbank'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+7.75% 7.60%
+
4
R10,000 for 55+8.00% 7.63%
+
9
R100,000 for 18+8.30% 7.63%
+
169
R100,000 for 18+7.95% 7.63%
+
82
R100,000 for 55+8.20% 7.65%
+
140
R250,000 for 18+8.40% 7.61%
+
496
R250,000 for 18+8.05% 7.61%
+
273
R250,000 for 55+8.30% 7.68%
+
392
R1,000,000 for 18+8.40% 7.68%
+
1,814
R1,000,000 for 18+8.15% 7.68%
+
1,179
R1,000,000 for 55+8.40% 7.74%
+
1,664
R5,000,000 for 18+8.40% 7.66%
+
9,379
R5,000,000 for 18+8.15% 7.66%
+
6,207
R5,000,000 for 55+8.40% 7.70%
+
8,860
How to read this table?

You get a 7.75% interest rate at Nedbank for a R10,000 investment in a 3 month fixed deposit (if you are older than 18). The industry average is 7.60%. Over 3 months you will earn R4 more in interest at Nedbank compared to the average bank.

Nedbank 6 month fixed deposit

This table shows Nedbank'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+8.10% 7.97%
+
7
R10,000 for 55+8.20% 7.93%
+
14
R100,000 for 18+8.50% 8.04%
+
241
R100,000 for 18+8.30% 8.04%
+
135
R100,000 for 55+8.40% 7.96%
+
225
R250,000 for 18+8.60% 8.05%
+
718
R250,000 for 18+8.40% 8.05%
+
454
R250,000 for 55+8.50% 7.99%
+
665
R1,000,000 for 18+8.60% 8.09%
+
2,655
R1,000,000 for 18+8.50% 8.09%
+
2,128
R1,000,000 for 55+8.60% 8.06%
+
2,814
R5,000,000 for 18+8.60% 8.07%
+
13,820
R5,000,000 for 18+8.50% 8.07%
+
11,185
R5,000,000 for 55+8.60% 8.04%
+
14,657
How to read this table?

You get a 8.1% interest rate at Nedbank for a R10,000 investment in a 6 month fixed deposit (if you are older than 18). The industry average is 7.97%. Over 6 months you will earn R7 more in interest at Nedbank compared to the average bank.

Nedbank 1 year fixed deposit

This table shows Nedbank'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% 8.36%
-
-38
R10,000 for 55+8.30% 8.35%
-
-5
R100,000 for 18+8.70% 8.49%
+
233
R100,000 for 18+8.20% 8.49%
-
-307
R100,000 for 55+8.50% 8.44%
+
66
R250,000 for 18+8.80% 8.50%
+
798
R250,000 for 18+8.30% 8.50%
-
-552
R250,000 for 55+8.70% 8.47%
+
648
R1,000,000 for 18+8.80% 8.54%
+
2,783
R1,000,000 for 18+8.35% 8.54%
-
-2,017
R1,000,000 for 55+8.80% 8.53%
+
2,929
R5,000,000 for 18+8.80% 8.56%
+
12,550
R5,000,000 for 18+8.35% 8.56%
-
-11,450
R5,000,000 for 55+8.80% 8.54%
+
13,833
How to read this table?

You get a 8% interest rate at Nedbank for a R10,000 investment in a 1 year fixed deposit (if you are older than 18). The industry average is 8.36%. Over 12 months you will earn R38 less in interest at Nedbank compared to the average bank.

Nedbank 2 year fixed deposit

This table shows Nedbank'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+7.85% 8.21%
-
-80
R10,000 for 55+7.95% 8.22%
-
-58
R100,000 for 18+8.15% 8.26%
-
-223
R100,000 for 18+8.05% 8.26%
-
-462
R100,000 for 55+8.15% 8.23%
-
-157
R250,000 for 18+8.35% 8.27%
+
549
R250,000 for 18+8.15% 8.27%
-
-645
R250,000 for 55+8.25% 8.26%
+
41
R1,000,000 for 18+8.35% 8.31%
+
1,374
R1,000,000 for 18+8.20% 8.31%
-
-2,102
R1,000,000 for 55+8.35% 8.33%
+
892
R5,000,000 for 18+8.35% 8.34%
+
3,652
R5,000,000 for 18+8.20% 8.34%
-
-13,724
R5,000,000 for 55+8.35% 8.34%
+
1,773
How to read this table?

You get a 7.85% interest rate at Nedbank for a R10,000 investment in a 2 year fixed deposit (if you are older than 18). The industry average is 8.21%. Over 2 years you will earn R80 less in interest at Nedbank compared to the average bank.

Nedbank 3 year fixed deposit

This table shows Nedbank'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+7.90% 8.34%
-
-163
R10,000 for 55+8.00% 8.33%
-
-123
R100,000 for 18+8.20% 8.52%
-
-1,152
R100,000 for 18+8.10% 8.52%
-
-1,540
R100,000 for 55+8.20% 8.44%
-
-863
R250,000 for 18+8.40% 8.53%
-
-1,163
R250,000 for 18+8.20% 8.53%
-
-3,021
R250,000 for 55+8.30% 8.47%
-
-1,553
R1,000,000 for 18+8.40% 8.57%
-
-6,030
R1,000,000 for 18+8.25% 8.57%
-
-11,697
R1,000,000 for 55+8.40% 8.54%
-
-5,053
R5,000,000 for 18+8.40% 8.62%
-
-39,789
R5,000,000 for 18+8.25% 8.62%
-
-68,121
R5,000,000 for 55+8.40% 8.54%
-
-27,606
How to read this table?

You get a 7.9% interest rate at Nedbank for a R10,000 investment in a 3 year fixed deposit (if you are older than 18). The industry average is 8.34%. Over 3 years you will earn R163 less in interest at Nedbank compared to the average bank.

Nedbank 5 year fixed deposit

This table shows Nedbank'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% 8.93%
-
-434
R10,000 for 55+8.95% 8.89%
+
54
R100,000 for 18+9.10% 9.02%
+
680
R100,000 for 18+8.55% 9.02%
-
-3,585
R100,000 for 55+9.05% 8.95%
+
780
R250,000 for 18+9.25% 9.04%
+
4,260
R250,000 for 18+8.65% 9.04%
-
-7,347
R250,000 for 55+9.10% 8.98%
+
2,476
R1,000,000 for 18+9.25% 9.06%
+
15,103
R1,000,000 for 18+8.75% 9.06%
-
-23,545
R1,000,000 for 55+9.25% 9.04%
+
17,055
R5,000,000 for 18+9.25% 9.09%
+
67,811
R5,000,000 for 18+8.75% 9.09%
-
-125,426
R5,000,000 for 55+9.25% 8.99%
+
99,040
How to read this table?

You get a 8.35% interest rate at Nedbank for a R10,000 investment in a 5 year fixed deposit (if you are older than 18). The industry average is 8.93%. Over 5 years you will earn R434 less in interest at Nedbank compared to the average bank.