Savings and deposits
Compare Fixed Deposit Rates in South Africa
A fixed deposit locks money for a term in exchange for a rate the bank sets for that term. Compare the same term and the same rate basis.
Rates and account terms may change. Confirm the current details with the provider. Information checked 28 October 2026.
Before you compare
- Nedbank OptimumPlus quotes a rate-at-maturity range. The published comparison says not to compare that with a nominal annual rate. The card keeps that warning.
- Early withdrawal is not assumed. Where the published comparison only says to confirm the penalty, that is what the card says.
- The Standard Bank fixed-deposit row and the Nedbank electronic fixed deposit are withheld because the rate sheet was incomplete or pointed at the wrong page.
Compare providers
Each card uses the product published for this page. A missing rate or fee is left blank. It is not shown as zero. The button opens the provider's own website.
5 of 5 products. A product stays in the list when its minimum is not published. It is removed only when a published minimum is above the amount you enter. Rates are not sorted from highest to lowest.
Dynamic Fixed Deposit
Fixed deposit
Access follows the term. Early withdrawal depends on the bank's rules.
- Interest rate
- Up to 9.82% advertised
- Term
- Fixed maturity; partial access terms
- Minimum deposit
- R1 000
This is an advertised maximum. It is not the rate on every balance.
Charges. Verify early-access rules
Advantages
- Fixed-deposit alternative with conditional liquidity
Considerations
- Headline rate only
- Access conditions
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Fixed-Term Savings
Fixed deposit
Access follows the term. Early withdrawal depends on the bank's rules.
- Interest rate
- 2.00%–8.40% advertised range
- Term
- At maturity
- Minimum deposit
- Confirm with the bank
The provider published a range. It is not one rate for every balance or term.
Charges. Early access fee may apply
Advantages
- Fixed interest
- App-based account management
Considerations
- Locked to maturity
- Rate varies by deposit/term
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Fixed Deposit
Fixed deposit
Access follows the term. Early withdrawal depends on the bank's rules.
- Interest rate
- Check the current rate with the provider
- Term
- At maturity
- Minimum deposit
- Confirm with the bank
A current rate is not shown. The published figures did not agree.
Charges. Verify penalty
Advantages
- Longer-term rate options
Considerations
- Conflicting marketing maximum figures
- Must verify
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Hybrid Fixed Deposit
Fixed deposit
Access follows the term. Early withdrawal depends on the bank's rules.
- Interest rate
- 6.77%–7.35% sample rates by term/access share
- Term
- Fixed term; accessible tranche
- Minimum deposit
- Confirm with the bank
The provider published a range. It is not one rate for every balance or term.
Charges. Confirm early withdrawal
Advantages
- Can access 10%–30% portion
Considerations
- Less rate when more funds accessible
- Quote needed
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
OptimumPlus (55+)
Fixed deposit
Access follows the term. Early withdrawal depends on the bank's rules.
- Interest rate
- 6.15%–10.25% rate-at-maturity range
- Term
- At maturity
- Minimum deposit
- R1 000
The provider published a range. It is not one rate for every balance or term.
Charges. No monthly fee
Advantages
- Designed for savers 55+
- Higher advertised rates
Considerations
- Age restriction
- At-maturity quoted rate not nominal annual rate
Qualifying bank deposit. CODI cover, where it applies, is up to R100 000 per qualifying depositor at that bank.
Information checked 28 October 2026. Confirm the current rate with the provider.
Not shown as a current offer
Electronic Fixed Deposit
The term, minimum and rate were not confirmed, so this product stays off the comparison until it is reviewed.
Fixed Deposit
This row is provisional. The cited page is the notice-deposit page rather than a dedicated fixed-deposit rate sheet.
Compare selected products
Choose up to three products on this page. This view does not rank a highest rate, and it does not treat a bank deposit, a unit trust and a government bond as the same product.
No products selected.
Estimate how your savings could grow
Type your own amount and rate. A product card does not fill these fields, because a published range is not the rate on your balance.
How this product works
Interest in or interest out
Interest added to the deposit compounds. Interest paid to another account does not. The calculator lets you choose one of those two illustrations. It does not know the bank's convention.
At the end of the term
Ask what happens on the maturity date. Some deposits roll into a new term at a rate you have not agreed.
Nominal and effective
A nominal annual rate compounded monthly has a higher effective annual rate. The calculator shows that conversion. It does not rewrite a provider's quote.
Are these savings protected?
The Corporation for Deposit Insurance, within the South African Reserve Bank, can protect qualifying depositors up to R100 000 of positive balances in qualifying products if their bank is placed in resolution. The cap is per qualifying depositor per bank, including interest that falls inside that balance, not per account. It does not cover money market unit trusts. It does not cover RSA Retail Savings Bonds. Each card says which of those descriptions applies.
Tax on savings interest
SARS's interest and dividends page, checked on 28 October 2026, shows a South African interest exemption for the 2027 year of assessment of R23 800 if you are under 65 and R34 500 if you are 65 or older. Interest above that can be taxable. The page says the 25 February 2026 budget made no change to those amounts. Money market fund distributions are not automatically taxed in the same way as bank interest. A tax-free savings account is a different product, with a R46 000 annual contribution limit and a R500 000 lifetime limit from 1 March 2026. This is general information, not tax advice.
How WiT Money compares these products
Each page keeps its own products. A bank savings rate is not lined up with a money market fund yield or an RSA Retail Savings Bond coupon. A missing rate stays blank.
Nothing is sorted as the highest rate or the best account. The default order is the provider name. A listed product is not a recommendation. No provider is paying for a placement. The button opens the provider's website.
Bank deposits, unit trusts and government bonds stay in separate groups. CODI is described only for a qualifying bank deposit.
How we compare · How we make money · Editorial guidelines · Corrections
Questions
Questions readers ask
Can I withdraw early?
Only if that product allows it. The penalty often still has to be confirmed with the bank. This page does not invent a penalty amount.
Why are two fixed deposits missing?
Nedbank's electronic fixed deposit had no extracted rate or minimum. Standard Bank's row cited the notice-deposit page and was marked provisional. Both stay off the comparison.
Is a fixed deposit covered by CODI?
A qualifying bank deposit can be, up to R100 000 per qualifying depositor at that bank, subject to the scheme rules. The cover is not a reason to ignore the term.
Other savings pages
Sources
Page updated 28 October 2026. A source date is the day WiT Money checked that page, not a promise the institution has not changed it since.
- South African Reserve Bank
South African Reserve Bank · checked 28 October 2026
- Deposit insurance (CODI)
South African Reserve Bank · checked 28 October 2026
- Interest and dividends
South African Revenue Service · checked 28 October 2026
- Tax-free investments
South African Revenue Service · checked 28 October 2026
- RSA Retail Savings Bonds
National Treasury · checked 28 October 2026