Best Fixed Deposit Rates in South Africa in April 2025
If you find yourself in this post, you’re probably looking for best fixed deposit rates in South Africa as of April 2025.
We will take you through each of the South African bank offering that include but not limited to First National Bank (FNB), African Bank, Nedbank, Capitec Bank, Standard Bank, and other banking institutions.
In a fixed deposit account, which is a form of savings account, the invested principle generates interest when a financial institution agrees to keep the funds on deposit for a certain amount of time.
At the conclusion of the predetermined set period (term), during which the investment would have earned interest, the principle is withheld.
Interest may be withdrawn at any moment, whether it is monthly, quarterly, biannually, or yearly.
Non-withdrawable interest is capitalized on a monthly basis.
In South Africa, there are several fixed deposit account types available.
Before putting money into a fixed deposit account, have certain goals.
Following that, you will be able to choose the best fixed deposit account for your investing objectives.
You should consider how long you want to invest your money and the interest rate range you wish to obtain before creating a fixed deposit account.
Fixed Deposits Rates for April 2025 in South Africa – Overall
| – | Entity | Interest Rate% | Effective Rate% |
| 1 | Nedbank | 9.7% | 11.77% |
| 2 | FNB | 9.5% | 11.48% |
| 2 | SA Retail Bonds | 11% | 13.7% |
| 4 | African Bank | 10.19% | 12.50% |
| 5 | Capitec Bank | 9.15% | 10.98% |
6 Months Fixed Deposit Rates in April 2025
African Bank
The highest interest rate is offered by Bidvest Bank for a 6-month fixed deposit account.
The 6 months fixed deposit account offers the greatest interest rate, but you must deposit at least R500 to take advantage of it.
The maximum interest rate that will be offered at maturity is 7%.
Standard Bank
Although the account has a nominal interest rate of 6.46%, it needs a minimum initial deposit of R5,000,000.00.
The actual interest rate on the account is 6.46%.
Sasfin Bank
The minimum deposit for Sasfin Bank’s six-month fixed deposit account is R10,000.00.
The account’s nominal interest rate is 6.41%, but the actual interest rate is 6.55%.
12 Months Fixed Deposit Rates in April 2025
Discovery Bank
Despite the wave of rate reductions this year, Discovery Bank has kept its rates among its rivals quite competitive.
With a deposit of at least R10,000.00, you may earn an eye-catching interest rate of 7.5% annually.
Standard Bank
On a 12-month fixed deposit account, Standard Bank is providing rates that are quite competitive.
A minimum investment of R10,000.00 is required for the 12-month fixed deposit account, which pays a nominal interest rate of 7.4%.
The 12-month fixed deposit account with Bidvest Bank carries an effective interest rate of 7.4%.
African Bank
The best interest rate for a 12-month fixed deposit account is provided by African Bank.
The account has an annual compounding nominal interest rate of 8.16%.
The account offers an achievable effective interest rate of 8.16% for the time and needs a minimum deposit of R500+.
24 Months Fixed Deposit Rates in April 2025
African Bank
For their 24 months fixed deposit account, African Bank provides up to a 9% nominal interest rate on deposits of as least R500.00.
The account’s effective interest rate is 9.4%.
Discovery Bank
Discovery Bank, which gives a nominal interest rate of 8.15% and is among the most alluring rates in South Africa in this category, rounds up our list of the top 3 best fixed deposit rates for the next 24 months.
The account has an effective interest rate of 8.95%, and as an investor, you must invest a minimum of R10,000.00 to attain this interest rate achievement.
In South Africa, the use of digital banking has grown over the past several years, increasing demand for new financial products.
The way we bank in South Africa is about to undergo a change because to the emergence of new banks.
One bank that takes internet banking seriously is Discovery Bank, which has implemented behavioural banking to promote responsible financial behavior.
Discovery Bank, a new institution, offers some of South Africa’s top fixed deposit accounts.
SA Retail Bonds
In order to entice high-quality investors, banks are increasing the rates on fixed deposits; this trend results in competitive rates in the market, which is advantageous to you as an investor.
For a minimum investment of R1,000.00, SA Retail Bonds’ 24 months fixed deposit account provides a nominal interest rate of 9.25%.
Your interest payments can be made monthly, every six months, or once every twelve months, but the principle amount can only be accessible at maturity.
36 Months Fixed Deposit Rates in April 2025
Capitec Bank
With a nominal interest rate of 8.50%, Capitec Bank has the second-best 36-month fixed deposit account.
A 8.84% effective interest rate is applied to the account.
R100,001 is the required minimum deposit for this account.
Discovery Bank
With a nominal interest rate of 8.5% for its 36 months fixed deposit account, Discovery Bank is tied for third place with Capitec Bank.
The account’s effective interest rate is greater, at 9.64%.
A R10,000.00 minimum investment is needed to open the account.
SA Retail Bonds
The best interest rate for a 36-month fixed deposit investment is provided by SA Retail Bonds.
The institution needs an R1,000.00 minimum commitment and gives a nominal interest rate of 9.75%. To receive the greatest interest rate possible, the investment must be held for 36 months.
The account’s effective interest rate is 10.73%.
African Bank
The second-best interest rate for a 36-month fixed deposit account is offered by Africa Bank.
The account has an R500.00 minimum investment.
A nominal interest rate of up to 9.45% is offered to clients.
For such an investment, the effective interest rate is 10.37%.
48 Months Fixed Deposit Rates in April 2025
Capitec Bank
For 48 months, Capitec Bank will pay a nominal interest rate of up to 8.75%.
The amount of money that a client wishes to deposit largely determines the rate of interest that Capitec Back provides.
A 48-month fixed deposit account requires a minimum deposit of R100,001.00.
Standard Bank
The second-best 48-month fixed deposit rate, offered by Standard Bank, is 10.19% effective interest rate.
The 48-month fixed deposit account’s nominal interest rate is 8.66%.
Investors are eligible for the account if they put R5.000,001.00 or more into their fixed deposit account.
First National Bank
For a 48-month fixed deposit, First National Bank gives an effective interest rate of 8.96%.
The 48-month fixed deposit account’s nominal interest rate is 8.6%.
The minimum investment for clients to be eligible for the nominal rate of 8.6% is R1,000,000.00.
60 Months Fixed Deposit Rates April 2025
Capitec Bank
For 48 months, Capitec Bank will pay a nominal interest rate of up to 8.75%.
The amount of money that a client wishes to deposit largely determines the rate of interest that Capitec Back provides.
A 48-month fixed deposit account requires a minimum deposit of R100,001.00.
Standard Bank
The second-best 48-month fixed deposit rate, offered by Standard Bank, is 10.19% effective interest rate.
The 48-month fixed deposit account’s nominal interest rate is 8.66%.
Investors are eligible for the account if they put R5.000,001.00 or more into their fixed deposit account.
First National Bank
The 48-month fixed deposit account from First National Bank has an effective interest rate of 8.96%.
The account’s nominal interest rate for a 48-month fixed deposit is 8.6%.
Clients must invest a minimum of R1,000,000.00 to be eligible for the nominal rate of 8.6%.
African Bank
African Bank’s 10.19% nominal interest rate for a 60-month fixed deposit account is the second-best rate available.
The account has the lowest minimum investment requirement of the top 3 in the 60-month category, calling just for R500.00.
The account’s effective interest rate is 12.5%.
Account holders might choose to monthly withdraw their interest earnings or capitalize them.
At maturity, the investor has access to their principal investment.
Nedbank
Individuals in South Africa can open a variety of fixed deposit accounts with Nedbank, all of which provide excellent interest rates. Seniors over the age of 55 also qualify for special interest rates.
For people above the age of 55, a fixed deposit account with the highest nominal interest rate is 9.7%.
For a 60-month fixed deposit account with a nominal interest rate of 9.7%, the bank’s Fixed Deposit Investment Account requires a minimum deposit of R1,000,000.00.
In the 60-month fixed deposit account, investors receive an effective interest rate of 11.77% on their initial investment.
There is no offline access to this account.
When opening a fixed deposit account with Nedbank, anyone under the age of 55 can take advantage of competitive rates.
9.35% nominal interest rate is the interest offer for those under the age of 55.
The minimum opening balance is R1,000,000.00.
SA Retail Bonds
The top spot belongs to SA Retail Bonds, which provides a nominal interest rate of 11% on a fixed deposit for 60 months.
The actual interest rate that is accrued on the account is 13.7%.
The specified 11% nominal interest rate on an investment must be held for 60 months in order to be paid.
To obtain a return of 11% nominal interest, an investment of at least R1,000.00 is necessary.
Takeaway
Capital protection and consistent income flow are guaranteed by fixed deposits.
You might have to give them some serious thought if you are risk cautious and do not want equity exposure.
It is very important that you carefully compare and make sure that you get value for money.
