Nedbank Fixed Deposit Review for October 2024

Last updated 2nd October 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 October 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% 7.85%
-
-3
R10,000 for 55+8.00% 7.97%
+
1
R100,000 for 18+8.30% 7.88%
+
105
R100,000 for 18+7.95% 7.88%
+
18
R100,000 for 55+8.20% 7.99%
+
53
R250,000 for 18+8.40% 7.87%
+
337
R250,000 for 18+8.05% 7.87%
+
113
R250,000 for 55+8.30% 8.00%
+
185
R1,000,000 for 18+8.40% 7.93%
+
1,175
R1,000,000 for 18+8.15% 7.93%
+
540
R1,000,000 for 55+8.40% 8.04%
+
912
R5,000,000 for 18+8.40% 7.91%
+
6,163
R5,000,000 for 18+8.15% 7.91%
+
2,990
R5,000,000 for 55+8.40% 8.00%
+
5,092
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 7.85%. Over 3 months you will earn R3 less 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% 8.25%
-
-8
R10,000 for 55+8.20% 8.31%
-
-5
R100,000 for 18+8.50% 8.30%
+
104
R100,000 for 18+8.30% 8.30%
-
-1
R100,000 for 55+8.40% 8.32%
+
41
R250,000 for 18+8.60% 8.32%
+
370
R250,000 for 18+8.40% 8.32%
+
106
R250,000 for 55+8.50% 8.34%
+
211
R1,000,000 for 18+8.60% 8.35%
+
1,331
R1,000,000 for 18+8.50% 8.35%
+
804
R1,000,000 for 55+8.60% 8.37%
+
1,223
R5,000,000 for 18+8.60% 8.33%
+
7,125
R5,000,000 for 18+8.50% 8.33%
+
4,490
R5,000,000 for 55+8.60% 8.35%
+
6,477
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 8.25%. Over 6 months you will earn R8 less 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% 8.56%
-
-61
R10,000 for 55+8.30% 8.65%
-
-38
R100,000 for 18+8.70% 8.68%
+
22
R100,000 for 18+8.20% 8.68%
-
-518
R100,000 for 55+8.50% 8.72%
-
-238
R250,000 for 18+8.80% 8.70%
+
273
R250,000 for 18+8.30% 8.70%
-
-1,077
R250,000 for 55+8.70% 8.73%
-
-77
R1,000,000 for 18+8.80% 8.72%
+
767
R1,000,000 for 18+8.35% 8.72%
-
-4,033
R1,000,000 for 55+8.80% 8.76%
+
367
R5,000,000 for 18+8.80% 8.76%
+
1,750
R5,000,000 for 18+8.35% 8.76%
-
-22,250
R5,000,000 for 55+8.80% 8.80%
-
-400
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 8.56%. Over 12 months you will earn R61 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% 8.31%
-
-105
R10,000 for 55+7.95% 8.38%
-
-96
R100,000 for 18+8.15% 8.33%
-
-400
R100,000 for 18+8.05% 8.33%
-
-639
R100,000 for 55+8.15% 8.36%
-
-457
R250,000 for 18+8.35% 8.35%
+
74
R250,000 for 18+8.15% 8.35%
-
-1,121
R250,000 for 55+8.25% 8.38%
-
-665
R1,000,000 for 18+8.35% 8.38%
-
-292
R1,000,000 for 18+8.20% 8.38%
-
-3,767
R1,000,000 for 55+8.35% 8.40%
-
-855
R5,000,000 for 18+8.35% 8.37%
-
-157
R5,000,000 for 18+8.20% 8.37%
-
-17,533
R5,000,000 for 55+8.35% 8.46%
-
-12,532
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 8.31%. Over 2 years you will earn R105 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% 8.42%
-
-195
R10,000 for 55+8.00% 8.49%
-
-182
R100,000 for 18+8.20% 8.57%
-
-1,364
R100,000 for 18+8.10% 8.57%
-
-1,752
R100,000 for 55+8.20% 8.58%
-
-1,403
R250,000 for 18+8.40% 8.59%
-
-1,747
R250,000 for 18+8.20% 8.59%
-
-3,605
R250,000 for 55+8.30% 8.60%
-
-2,818
R1,000,000 for 18+8.40% 8.62%
-
-8,122
R1,000,000 for 18+8.25% 8.62%
-
-13,789
R1,000,000 for 55+8.40% 8.63%
-
-8,510
R5,000,000 for 18+8.40% 8.59%
-
-34,812
R5,000,000 for 18+8.25% 8.59%
-
-63,144
R5,000,000 for 55+8.40% 8.71%
-
-61,369
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 8.42%. Over 3 years you will earn R195 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% 8.96%
-
-460
R10,000 for 55+8.95% 9.02%
-
-46
R100,000 for 18+9.10% 9.05%
+
424
R100,000 for 18+8.55% 9.05%
-
-3,840
R100,000 for 55+9.05% 9.07%
-
-165
R250,000 for 18+9.25% 9.08%
+
3,450
R250,000 for 18+8.65% 9.08%
-
-8,157
R250,000 for 55+9.10% 9.10%
+
173
R1,000,000 for 18+9.25% 9.10%
+
12,210
R1,000,000 for 18+8.75% 9.10%
-
-26,437
R1,000,000 for 55+9.25% 9.12%
+
10,631
R5,000,000 for 18+9.25% 9.07%
+
73,366
R5,000,000 for 18+8.75% 9.07%
-
-119,871
R5,000,000 for 55+9.25% 9.11%
+
48,748
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 8.96%. Over 5 years you will earn R460 less in interest at Nedbank compared to the average bank.