Fixed deposits update for August 2021

Over the last two months, deposit rates offered by the banks have largely remained unchanged. The only notable changes has been an increase in interest rates offered on longer Fixed deposit terms by African Bank, Discovery and SA Retail bonds. Specifically, the five-year fixed deposit interest rates have increased by +/- 30bps for each bank.

Name Term June 2021 Aug 2021 Change
African Bank 5 yr 8.45% 8.8% +0.35%
SA Retail Bonds 5 yr 8.4% 8.7% +0.3%
Discovery 5 yr 7.2% 7.5% +0.3%

In other news. Google seemed to have updated some sort of algorithm, as I have seen a 50% increase in visitor numbers over the last month. For all you SEO gurus out there, the site seems to get good traffic from keywords such as "capitec fixed deposit calculator" and "fnb fixed deposit calculator". The most popular page on the site remains the Fixed deposit calculator with majority of organic traffic landing on that page. Thank you to all of those who have also mentioned my site on their websites, online forums or to friends and families. I appreciate that. I had enabled Google ads on my site a few months ago. It earned a measly R20-odd over a month in the beginning. The monthly earnings for this site now sit at R430. Hmmm...hoping to make about a R1000 per month from site at some point in the future. But will have to add some other interesting content. So, if you are looking for something this site does not have - please let me know.

PS. All rates are sourced directly from the banks' websites and converted to effective annual rates in order to make comparisons fair.

Have a great week Walter