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

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1SA Retail Bondslogo18 R1k11.5% 11.83%
2Access Bank Plclogo18 R50010.45% 10.97%
3Sasfinlogo18 R20k10.25% 10.75%
4Access Bank Plclogo18 R50010.1% 10.58%
5SA Retail Bondslogo18 R1k10.25% 10.51%
The best interest rate is 11.83% offered by SA Retail Bonds on a 5 year fixed deposit investment. This is the highest interest rate you will be able to get in South Africa. This rate is fixed throughout 5 year. It is the effective annual rate. You will need a minimum investment of R1,000 to get that interest rate. Check out my fixed deposit calculator to see how much interest you will earn for your investment amount.
Table of contents

Best 5 year fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1SA Retail Bondslogo18 R1k11.5% 11.83%
2Access Bank Plclogo18 R50010.45% 10.97%
3Sasfinlogo18 R20k10.25% 10.75%
4African Banklogo18 R5009.94% 10.41%
5Fedgrouplogo18 R5k9.9% 10.36%
The best 5 year fixed deposit interest rate is 11.83% offered by SA Retail Bonds. This is the effective annualised rate. You will need a minimum investment of R1,000 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?
Who offers better interest rates?
Who offers better interest rates?
updated 1st June 2024
Who offers better interest rates?
updated 1st June 2024
Who offers better interest rates?
updated 1st June 2024

Best 3 year fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1SA Retail Bondslogo18 R1k10.25% 10.51%
2Sasfinlogo18 R20k10% 10.47%
3Access Bank Plclogo18 R5009.8% 10.25%
4African Banklogo18 R5009.44% 9.86%
5FNBlogo55 R1m9.3% 9.71%
The best 3 year fixed deposit interest rate is 10.51% offered by SA Retail Bonds. This is the effective annualised rate. You will need a minimum investment of R1,000 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?

Best 2 year fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1SA Retail Bondslogo18 R1k9.75% 9.99%
2Access Bank Plclogo18 R5009.55% 9.98%
3African Banklogo18 R5009.34% 9.75%
4FNBlogo55 R1m9.25% 9.65%
5FNBlogo55 R500k9.15% 9.54%
The best 2 year fixed deposit interest rate is 9.99% offered by SA Retail Bonds. This is the effective annualised rate. You will need a minimum investment of R1,000 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?

Best 1 year fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1TymeBanklogo18 R19.57% 10%
2Sasfinlogo18 R20k9.5% 9.92%
3Access Bank Plclogo18 R5009.5% 9.92%
4Absalogo55 R1k9.4% 9.82%
5Nedbanklogo18 R250k9.3% 9.71%
The best 1 year fixed deposit interest rate is 10% offered by TymeBank. This is the effective annualised rate. You will need a minimum investment of R1 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?

Best 6 month fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1Access Bank Plclogo18 R5m9% 9.38%
2Bidvestlogo18 R10k8.9% 9.27%
3TymeBanklogo18 R18.83% 9.2%
4Access Bank Plclogo18 R1m8.75% 9.11%
5Sasfinlogo18 R20k8.66% 9.01%
The best 6 month fixed deposit interest rate is 9.38% offered by Access Bank Plc. This is the effective annualised rate. You will need a minimum investment of R5,000,000 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?

Best 3 month fixed deposit rates

last updated 1st June 2024 by Walter

# Bank Min Age Min Deposit Nominal Effective
1Access Bank Plclogo18 R5m8.6% 8.95%
2Bidvestlogo18 R10k8.54% 8.88%
3Access Bank Plclogo18 R1m8.49% 8.83%
4African Banklogo18 R5008.42% 8.75%
5Access Bank Plclogo18 R25k8.39% 8.72%
The best 3 month fixed deposit interest rate is 8.95% offered by Access Bank Plc. This is the effective annualised rate. You will need a minimum investment of R5,000,000 to get that interest rate. Check out the fixed deposit calculator to see how much interest you will earn for your investment amount.
Looking for the best interest rates for a specific investment amount?