# Best 12-month fixed deposit rates — July 2026

The best 12-month fixed deposit rate in South Africa right now is **8.42% per annum** from GoTyme Bank (GoTyme Bank Fixed Deposit), with a minimum deposit of Any amount. Below are the 12-month rates of all 11 banks we track, updated for July 2026.

| Bank | Product | Nominal rate | Effective rate | Deposit for this rate |
| --- | --- | --- | --- | --- |
| GoTyme Bank | [GoTyme Bank Fixed Deposit](https://gotyme.co.za/personal/save-and-invest/fixed-deposit) | 8.42% | 8.75% | Any amount |
| Investec | [Investec PrimeLinked Fixed Deposit](https://www.investec.com/en_za/savings-accounts/access-after-a-fixed-period/fixed-term-deposits.html) | 8.03% | 8.33% | R100 000 |
| Bidvest | [Bidvest Fixed Deposit](https://www.bidvestbank.co.za/) | 7.72% | 8.00% | Any amount |
| Investec | [Investec Fixed Deposit Special](https://www.investec.com/en_za/savings-accounts/access-after-a-fixed-period/fixed-term-deposits.html) | 7.50% | 7.76% | R100 000 |
| African Bank | [African Bank Fixed Deposit](https://www.africanbank.co.za/) | 7.49% | 7.75% | R1 000 000 |
| Standard Bank | [Standard Bank Fixed Deposit](https://www.standardbank.co.za/) | 7.46% | 7.72% | R5 000 000 |
| Absa | [Absa Dynamic Fixed Deposit](https://www.absa.co.za/personal/save-invest/products/fixed-deposit/) | 7.45% | 7.71% | R100 000 |
| Discovery | [Discovery Fixed Deposit Account](https://www.discovery.co.za/) | 7.40% | 7.66% | R10 000 |
| Nedbank | [Nedbank Platinum Fixed Deposit](https://www.nedbank.co.za/) | 7.40% | 7.66% | R250 000 |
| Investec | [Investec Fixed Term Deposit](https://www.investec.com/en_za/savings-accounts/access-after-a-fixed-period/fixed-term-deposits.html) | 7.39% | 7.65% | R100 000 |
| Capitec | [Capitec Fixed-Term Savings](https://www.capitecbank.co.za/personal/save/fixed-term-savings/) | 7.30% | 7.55% | R1 000 000 |
| Nedbank | [Nedbank Electronic Fixed Deposit](https://www.nedbank.co.za/) | 7.30% | 7.55% | R1 000 000 |
| Access Bank Plc | [Access Bank Fixed Deposit](https://southafrica.accessbankplc.com/rates-and-fees/) | 7.25% | 7.50% | Any amount |
| Absa | [Absa Standard Digital Bonus Fixed Deposit](https://www.absa.co.za/personal/save-invest/products/fixed-deposit/) | 7.10% | 7.34% | R1 000 000 |
| FNB | [FNB Fixed Deposit](https://www.fnb.co.za/invest/fixed-deposit.html) | 7.05% | 7.28% | R1 000 000 |

Where a bank pays different rates per deposit size, the table shows each product's best rate and the deposit needed to earn it. Nominal = annual rate as quoted; effective = annualised rate with monthly compounding reinvested.

## Better 12-month rates for over-55s

These banks pay seniors more than their standard 12-month rate:

| Bank | Product | Nominal rate | Effective rate | Deposit for this rate |
| --- | --- | --- | --- | --- |
| FNB | [FNB Senior Preferential Fixed Deposit](https://www.fnb.co.za/invest/fixed-deposit.html) | 7.40% | 7.66% | R1 000 000 |
| FNB | [FNB Senior Fixed Deposit](https://www.fnb.co.za/invest/fixed-deposit.html) | 7.15% | 7.39% | R1 000 000 |

## Tax-free 12-month fixed deposits

Interest is tax-free, but contributions are capped at R36,000 per tax year (R500,000 lifetime), so these are ranked separately:

| Bank | Product | Nominal rate | Effective rate | Deposit for this rate |
| --- | --- | --- | --- | --- |
| Absa | [Absa Tax Free Fixed Deposit](https://www.absa.co.za/personal/save-invest/products/fixed-deposit/) | 7.60% | 7.87% | R30 000 |
| Investec | [Investec Tax Free Fixed Deposit](https://www.investec.com/en_za/savings-accounts/access-after-a-fixed-period/fixed-term-deposits.html) | 7.59% | 7.86% | R100 000 |
| Nedbank | [Nedbank Tax-free Fixed Deposit](https://www.nedbank.co.za/) | 7.30% | 7.55% | R25 000 |
| African Bank | [African Bank Tax Free Investment (12 Months)](https://www.africanbank.co.za/) | 7.26% | 7.51% | R250 000 |

## Compare other terms

[3 months](https://ratecompare.co.za/best-rates/3-month-fixed-deposit.md) · [6 months](https://ratecompare.co.za/best-rates/6-month-fixed-deposit.md) · [9 months](https://ratecompare.co.za/best-rates/9-month-fixed-deposit.md) · [18 months](https://ratecompare.co.za/best-rates/18-month-fixed-deposit.md) · [24 months](https://ratecompare.co.za/best-rates/24-month-fixed-deposit.md) · [36 months](https://ratecompare.co.za/best-rates/36-month-fixed-deposit.md) · [48 months](https://ratecompare.co.za/best-rates/48-month-fixed-deposit.md) · [60 months](https://ratecompare.co.za/best-rates/60-month-fixed-deposit.md)

## Full data and canonical page

- Canonical HTML page: https://ratecompare.co.za/best-rates/12-month-fixed-deposit
- Full dataset (JSON): https://ratecompare.co.za/open-data/current-rates.json
- Full dataset (CSV): https://ratecompare.co.za/open-data/current-rates.csv

## Methodology & disclaimer

Rates are collected directly from each bank's published rate sheets and updated monthly (July 2026 shown). Rates are quoted per annum for interest paid at the bank's standard frequency and may change without notice — always confirm with the bank before investing. Ranking is by nominal rate; tax-free and seniors-only products are listed separately because they carry eligibility or contribution limits.