TymeBank Fixed Deposit Review for April 2024

Last updated 2nd April 2024 by Walter

Introduction

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

TymeBank fixed deposits highlights

last updated 2nd April 2024 by Walter

R1
min deposit
10.48%
best rate

Here are TymeBank's best fixed deposit rates

The best interest rate you can get at TymeBank is 10.48% for the 12-month fixed deposit. You will need a minimum deposit of R1 .

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

# Min deposit Term Nominal
1 R1 12 months 10.48%
2 R1 6 months 9.80%
3 R1 3 months 8.93%
P
only individuals older than 55 qualify

TymeBank 3 month fixed deposit

This table shows TymeBank'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+8.93% 8.01%
+
23
R10,000 for 55+8.93% 8.17%
+
20
R100,000 for 18+8.93% 8.12%
+
207
R100,000 for 55+8.93% 8.22%
+
182
R250,000 for 18+8.93% 8.11%
+
521
R250,000 for 55+8.93% 8.23%
+
444
R1,000,000 for 18+8.93% 8.16%
+
1,955
R1,000,000 for 55+8.93% 8.31%
+
1,585
R5,000,000 for 18+8.93% 8.17%
+
9,753
R5,000,000 for 55+8.93% 8.36%
+
7,286
How to read this table?

You get a 8.93% interest rate at TymeBank for a R10,000 investment in a 3 month fixed deposit (if you are older than 18). The industry average is 8.01%. Over 3 months you will earn R23 more in interest at TymeBank compared to the average bank.

TymeBank 6 month fixed deposit

This table shows TymeBank'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+9.80% 8.29%
+
78
R10,000 for 55+9.80% 8.42%
+
71
R100,000 for 18+9.80% 8.47%
+
692
R100,000 for 55+9.80% 8.52%
+
662
R250,000 for 18+9.80% 8.49%
+
1,692
R250,000 for 55+9.80% 8.54%
+
1,627
R1,000,000 for 18+9.80% 8.55%
+
6,501
R1,000,000 for 55+9.80% 8.60%
+
6,240
R5,000,000 for 18+9.80% 8.59%
+
31,430
R5,000,000 for 55+9.80% 8.65%
+
29,715
How to read this table?

You get a 9.8% interest rate at TymeBank for a R10,000 investment in a 6 month fixed deposit (if you are older than 18). The industry average is 8.29%. Over 6 months you will earn R78 more in interest at TymeBank compared to the average bank.

TymeBank 1 year fixed deposit

This table shows TymeBank'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+10.48% 8.82%
+
182
R10,000 for 55+10.48% 8.95%
+
168
R100,000 for 18+10.48% 9.00%
+
1,620
R100,000 for 55+10.48% 9.05%
+
1,561
R250,000 for 18+10.48% 9.02%
+
3,992
R250,000 for 55+10.48% 9.10%
+
3,782
R1,000,000 for 18+10.48% 9.05%
+
15,658
R1,000,000 for 55+10.48% 9.13%
+
14,773
R5,000,000 for 18+10.48% 9.07%
+
77,450
R5,000,000 for 55+10.48% 9.16%
+
72,222
How to read this table?

You get a 10.48% interest rate at TymeBank for a R10,000 investment in a 1 year fixed deposit (if you are older than 18). The industry average is 8.82%. Over 12 months you will earn R182 more in interest at TymeBank compared to the average bank.

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