These are the best Fixed Deposits in South Africa

all rates last updated 2nd August 2022

What are the best fixed deposit interest rates currently offered in South Africa?

Bank	Terms	Nominal	Effective
1 SA Retail Bonds	60m1k	11.00%	11.3%
2 Access Bank Plc	60m500	10.10%	10.58%
3 African Bank	60m500	9.75%	10.2%
4 Standard Bank	60m10kP	9.65%	10.09%
5 Nedbank	60m1mP	9.60%	10.03%

P: only individuals older than 55 qualify
length of term. eg. 60m = 60 months
minimum deposit
* PS. RSA Retail bonds compound interest on a semi annual basis. That is why the effective annual rate is lower.

The best interest rate is 11.3% offered by SA Retail Bonds on a 60-month fixed deposit investment. This is the highest interest rate you will be able to get in South Africa. This is the effective annual rate. You will need a minimum investment of R 1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

best rates per investment period

click on any of the below to jump to the section
- Best 3 month fixed deposit rates
- Best 6 month fixed deposit rates
- Best 12 month fixed deposit rates
- Best 24 month fixed deposit rates
- Best 36 month fixed deposit rates
- Best 60 month fixed deposit rates

3m Best 3 month fixed deposit rates

		Nominal	Effective
1 Access Bank Plc	5m	5.95%	6.11%
2 African Bank	500	5.85%	6.01%
3 Access Bank Plc	1m	5.84%	6%
4 Access Bank Plc	25k	5.74%	5.89%
5 Standard Bank	5m	5.73%	5.88%
View all 3-month rankings

The best interest rate for a 3-month fixed deposit is 6.11% offered by Access Bank Plc. This is the effective annual rate. You will need a minimum investment of R5m to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 3-month rankings where you can see all the rankings for different amounts and ages.

6m Best 6 month fixed deposit rates

		Nominal	Effective
1 African Bank	500	6.79%	7.01%
2 Investec	100kP	6.71%	6.92%
3 Investec	100k	6.56%	6.76%
4 Standard Bank	10kP	6.54%	6.74%
5 Standard Bank	5m	6.53%	6.73%
View all 6-month rankings

The best interest rate for a 6-month fixed deposit is 7.01% offered by African Bank. This is the effective annual rate. You will need a minimum investment of R500 to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 6-month rankings where you can see all the rankings for different amounts and ages.

12m Best 12 month fixed deposit rates

		Nominal	Effective
1 African Bank	500	7.87%	8.16%
2 Investec	100k	7.85%	8.14%
3 Standard Bank	10kP	7.62%	7.89%
4 Absa	1kP	7.55%	7.82%
5 Discovery	100k	7.50%	7.76%
View all 12-month rankings

The best interest rate for a 12-month fixed deposit is 8.16% offered by African Bank. This is the effective annual rate. You will need a minimum investment of R500 to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 12-month rankings where you can see all the rankings for different amounts and ages.

24m Best 24 month fixed deposit rates

		Nominal	Effective
1 SA Retail Bonds	1k	9.25%	9.46%
2 African Bank	500	8.65%	9%
3 Standard Bank	10kP	8.55%	8.89%
4 Standard Bank	1P	8.25%	8.57%
5 Discovery	100k	8.25%	8.57%
View all 24-month rankings

The best interest rate for a 24-month fixed deposit is 9.46% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 24-month rankings where you can see all the rankings for different amounts and ages.

36m Best 36 month fixed deposit rates

		Nominal	Effective
1 SA Retail Bonds	1k	9.75%	9.99%
2 African Bank	500	9.07%	9.46%
3 Standard Bank	10kP	8.99%	9.37%
4 Standard Bank	1P	8.69%	9.04%
5 Discovery	100k	8.50%	8.84%
View all 36-month rankings

The best interest rate for a 36-month fixed deposit is 9.99% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 36-month rankings where you can see all the rankings for different amounts and ages.

60m Best 60 month fixed deposit rates

		Nominal	Effective
1 SA Retail Bonds	1k	11.00%	11.3%
2 Access Bank Plc	500	10.10%	10.58%
3 African Bank	500	9.75%	10.2%
4 Standard Bank	10kP	9.65%	10.09%
5 Nedbank	1mP	9.60%	10.03%
View all 60-month rankings

The best interest rate for a 60-month fixed deposit is 11.3% offered by SA Retail Bonds. This is the effective annual rate. You will need a minimum investment of R1k to get that interest rate. Check out the calculator to see how much interest you will earn for your investment amount.

PS. banks may pay better rates for higher investment amounts and your age. That is why I also provide detailed rankings for different investment amounts and whether you are older or younger than 55. Check out the detailed 60-month rankings where you can see all the rankings for different amounts and ages.