Fixed deposits update for May 2022
Best fixed deposit interest rates currently in South Africa
Term Min Amount Nominal Effective 1 SA Retail Bonds 5yr R1 000 10.00% 10.25% 2 Capitec 5yr R100k 9.00% 9.38% 3 Nedbank 5yr R1m 8.90% 9.27% 4 FNB 5yr R1m 8.85% 9.22% 5 Access Bank Plc 5yr R500 8.85% 9.22%
- only pensioners
What were the major changes in the month?
- Capitec have increased their rates! Their 2 and 3-year fixed deposits are now 1% higher compared to April.
- Standard Bank, Absa, FNB increased their rates by +-0.5% across most terms
- African Bank not featured in top 5 for the 1st time since 2019
Happy investing Walter