What are the best fixed deposit interest rates currently offered in South Africa?
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R500 | 9.94% | 10.41% | |
| 2 | 18 | R20k | 9.75% | 10.2% | |
| 3 | 18 | R500 | 9.67% | 10.11% | |
| 4 | 18 | R1k | 9.75% | 9.99% | |
| 5 | 18 | R20k | 9.45% | 9.87% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Best 5 year fixed deposit rates
- Best 3 year fixed deposit rates
- Best 2 year fixed deposit rates
- Best 1 year fixed deposit rates
- Best 6 month fixed deposit rates
- Best 3 month fixed deposit rates
Best 5 year fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R500 | 9.94% | 10.41% | |
| 2 | 18 | R20k | 9.75% | 10.2% | |
| 3 | 18 | R500 | 9.67% | 10.11% | |
| 4 | 18 | R1k | 9.75% | 9.99% | |
| 5 | 18 | R5k | 9.3% | 9.71% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 5 year fixed deposit rates for R10'000
- Here are the best 5 year fixed deposit rates for R100'000
- Here are the best 5 year fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount
Best 3 year fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R20k | 9.45% | 9.87% | |
| 2 | 18 | R500 | 9.26% | 9.66% | |
| 3 | 18 | R500 | 8.98% | 9.36% | |
| 4 | 18 | R1k | 9% | 9.2% | |
| 5 | 18 | R1m | 8.45% | 8.79% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 3 year fixed deposit rates for R10'000
- Here are the best 3 year fixed deposit rates for R100'000
- Here are the best 3 year fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount
Best 2 year fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R500 | 9.12% | 9.51% | |
| 2 | 18 | R500 | 8.88% | 9.25% | |
| 3 | 18 | R1m | 8.4% | 8.73% | |
| 4 | 18 | R250k | 8.35% | 8.68% | |
| 5 | 18 | R1k | 8.5% | 8.68% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 2 year fixed deposit rates for R10'000
- Here are the best 2 year fixed deposit rates for R100'000
- Here are the best 2 year fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount
Best 1 year fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R500 | 8.98% | 9.36% | |
| 2 | 18 | R500 | 8.88% | 9.25% | |
| 3 | 18 | R20k | 8.81% | 9.17% | |
| 4 | 18 | R250k | 8.8% | 9.16% | |
| 5 | 18 | R100k | 8.7% | 9.06% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 1 year fixed deposit rates for R10'000
- Here are the best 1 year fixed deposit rates for R100'000
- Here are the best 1 year fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount
Best 6 month fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R250k | 8.6% | 8.95% | |
| 2 | 18 | R500 | 8.54% | 8.88% | |
| 3 | 18 | R100k | 8.5% | 8.84% | |
| 4 | 18 | R10k | 8.45% | 8.79% | |
| 5 | 55 | R1k | 8.45% | 8.79% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 6 month fixed deposit rates for R10'000
- Here are the best 6 month fixed deposit rates for R100'000
- Here are the best 6 month fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount
Best 3 month fixed deposit rates
last updated 2nd December 2024 by Walter
| # | Bank | Min Age | Min Deposit | Nominal | Effective ↓ |
|---|---|---|---|---|---|
| 1 | 18 | R250k | 8.4% | 8.73% | |
| 2 | 18 | R100k | 8.3% | 8.62% | |
| 3 | 18 | R10k | 8.24% | 8.56% | |
| 4 | 18 | R500 | 8.21% | 8.53% | |
| 5 | 55 | R25k | 8.2% | 8.52% |
Understanding interest rates:
Nominal rate: The basic interest rate before considering any compounding effects. If you were to withdraw your interest monthly instead of letting it compound, this is the rate you'd earn.
Effective rate: The actual annual return you'll receive when interest is reinvested monthly. This higher rate shows your true return because it includes compound interest (earning interest on your interest).
- Here are the best 3 month fixed deposit rates for R10'000
- Here are the best 3 month fixed deposit rates for R100'000
- Here are the best 3 month fixed deposit rates for R1'000'000
- Check out the fixed deposit calculator to find the best interest rate for your custom investment amount