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% 7.54%
+
5
R10,000 for 55+8.00% 7.59%
+
10
R100,000 for 18+8.30% 7.57%
+
183
R100,000 for 18+7.95% 7.57%
+
96
R100,000 for 55+8.20% 7.60%
+
151
R250,000 for 18+8.40% 7.56%
+
528
R250,000 for 18+8.05% 7.56%
+
304
R250,000 for 55+8.30% 7.63%
+
421
R1,000,000 for 18+8.40% 7.63%
+
1,941
R1,000,000 for 18+8.15% 7.63%
+
1,306
R1,000,000 for 55+8.40% 7.70%
+
1,780
R5,000,000 for 18+8.40% 7.59%
+
10,250
R5,000,000 for 18+8.15% 7.59%
+
7,078
R5,000,000 for 55+8.40% 7.64%
+
9,567
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 7.54%. Over 3 months you will earn R5 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% 7.92%
+
9
R10,000 for 55+8.20% 7.88%
+
17
R100,000 for 18+8.50% 7.99%
+
262
R100,000 for 18+8.30% 7.99%
+
157
R100,000 for 55+8.40% 7.93%
+
244
R250,000 for 18+8.60% 8.01%
+
772
R250,000 for 18+8.40% 8.01%
+
508
R250,000 for 55+8.50% 7.95%
+
711
R1,000,000 for 18+8.60% 8.05%
+
2,871
R1,000,000 for 18+8.50% 8.05%
+
2,344
R1,000,000 for 55+8.60% 8.02%
+
2,999
R5,000,000 for 18+8.60% 8.02%
+
15,116
R5,000,000 for 18+8.50% 8.02%
+
12,481
R5,000,000 for 55+8.60% 8.00%
+
15,737
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 7.92%. Over 6 months you will earn R9 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% 8.25%
-
-27
R10,000 for 55+8.30% 8.27%
+
3
R100,000 for 18+8.70% 8.40%
+
328
R100,000 for 18+8.20% 8.40%
-
-212
R100,000 for 55+8.50% 8.38%
+
136
R250,000 for 18+8.80% 8.41%
+
1,035
R250,000 for 18+8.30% 8.41%
-
-315
R250,000 for 55+8.70% 8.40%
+
821
R1,000,000 for 18+8.80% 8.45%
+
3,733
R1,000,000 for 18+8.35% 8.45%
-
-1,067
R1,000,000 for 55+8.80% 8.46%
+
3,621
R5,000,000 for 18+8.80% 8.46%
+
18,250
R5,000,000 for 18+8.35% 8.46%
-
-5,750
R5,000,000 for 55+8.80% 8.47%
+
17,875
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 8.25%. Over 12 months you will earn R27 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% 8.19%
-
-76
R10,000 for 55+7.95% 8.20%
-
-55
R100,000 for 18+8.15% 8.24%
-
-189
R100,000 for 18+8.05% 8.24%
-
-427
R100,000 for 55+8.15% 8.22%
-
-128
R250,000 for 18+8.35% 8.26%
+
636
R250,000 for 18+8.15% 8.26%
-
-558
R250,000 for 55+8.25% 8.24%
+
114
R1,000,000 for 18+8.35% 8.29%
+
1,720
R1,000,000 for 18+8.20% 8.29%
-
-1,755
R1,000,000 for 55+8.35% 8.32%
+
1,181
R5,000,000 for 18+8.35% 8.32%
+
5,576
R5,000,000 for 18+8.20% 8.32%
-
-11,800
R5,000,000 for 55+8.35% 8.32%
+
3,506
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 8.19%. Over 2 years you will earn R76 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%
-
-161
R10,000 for 55+8.00% 8.33%
-
-121
R100,000 for 18+8.20% 8.51%
-
-1,135
R100,000 for 18+8.10% 8.51%
-
-1,523
R100,000 for 55+8.20% 8.44%
-
-846
R250,000 for 18+8.40% 8.53%
-
-1,119
R250,000 for 18+8.20% 8.53%
-
-2,977
R250,000 for 55+8.30% 8.47%
-
-1,509
R1,000,000 for 18+8.40% 8.56%
-
-5,854
R1,000,000 for 18+8.25% 8.56%
-
-11,521
R1,000,000 for 55+8.40% 8.54%
-
-4,877
R5,000,000 for 18+8.40% 8.61%
-
-38,811
R5,000,000 for 18+8.25% 8.61%
-
-67,143
R5,000,000 for 55+8.40% 8.53%
-
-26,549
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 R161 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% 8.91%
-
-418
R10,000 for 55+8.95% 8.87%
+
66
R100,000 for 18+9.10% 9.00%
+
808
R100,000 for 18+8.55% 9.00%
-
-3,456
R100,000 for 55+9.05% 8.94%
+
886
R250,000 for 18+9.25% 9.02%
+
4,582
R250,000 for 18+8.65% 9.02%
-
-7,025
R250,000 for 55+9.10% 8.96%
+
2,740
R1,000,000 for 18+9.25% 9.05%
+
16,389
R1,000,000 for 18+8.75% 9.05%
-
-22,258
R1,000,000 for 55+9.25% 9.02%
+
18,110
R5,000,000 for 18+9.25% 9.07%
+
75,530
R5,000,000 for 18+8.75% 9.07%
-
-117,708
R5,000,000 for 55+9.25% 8.97%
+
105,751
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 8.91%. Over 5 years you will earn R418 less in interest at Nedbank compared to the average bank.