In any case, a fixed deposit investment is a much-appreciated choice by South African investors, for they are risk-free and promise reasonable interest rates. These give a dependable way for people to save money and reach their long-term financial goals.
Best 5-Year Fixed Deposit Interest Rates
African Bank
African Bank is one of the leading banks in the fixed deposits space, offering an effective annual rate of 10.41% for investments of a minimum of R500.
SA Retail Bonds
The SA Retail Bonds come at an effective annual rate of 10.25% but with at least R1,000 for the minimum investment. Even though this is entirely on the higher side of an initial deposit, the return is still pretty for a fixed deposit for 5 years.
Access Bank Plc
Access Bank Plc – offers a reasonable rate of 9.92 percent for a minimum of R500 deposit, taking in a vast amount with a meager beginning of the investment, which is suitable for both newbies and experienced investors simultaneously.
Fedgroup
Investment offered here is at the yearly rate of 9.71 percent but with a higher deposit at a minimum of R5,000, which will be suitable for investors with much money and desiring a powerful return over five years.
Nedbank
Nedbank offers a reasonable interest rate of 9.54%, but customers should deposit a minimum of R250,000. This will not work for most people due to the considerable amount in the starting sum, but it gives quite a good return to anyone who can meet its requirements.
Best 3-Year Fixed Deposit Rates
Access Bank Plc
Access Bank Plc offers an effective annual percentage rate of 9.49% for a 3-year fixed deposit. The minimum investment amount is R500, and the return on investment is substantial, with a favorable term for investment.
African Bank
The effective rate for the fixed deposit is 9.36%, termed under 3 years, and a class size of R500. This will interest the investor, who would prefer a shorter term but a steady return.
SA Retail Bonds
The SA Retail Bonds, a reasonable rate of 9.2%, can be invested at a minimum of R1,000. Since it is government-backed, the investment is secure and has a nice return of over three years.
Capitec
Capitec offers an interest rate of 8.79% with a minimum investment amount of R1 million. The investment amount at the starting point might be a big one, but the investment is quite a big one that gives good returns over three years.
FNB
First National Bank (FNB) offers it at 8.68% with a minimum opening balance of R1 million. Two years work best for the well-to-do in society, which requires a return within a short period.
Top Best 2-Year Fixed Deposit Rates
Access Bank Plc
Access Bank Plc is still a favorite for a 2-year fixed deposit, yielding 9.38% annually. However, with only R500 as their minimum initial deposit, it proves a valuable investment for anyone looking at higher returns within a very short time frame.
African Bank
African Bank’s reasonable 9.25% rate for a 2-year fixed deposit requires a minimum investment of R500. It is a strong and safe option for those wanting to have their money fixed for two years.
SA Retail Bonds
SA Retail Bonds offer an 8.94% rate, with a minimum investment of R1,000. This is a safe option because the government backs it, providing a good return over two years.
Capitec
Capitec offers an 8.73% interest rate with a minimum opening deposit of R1 million. While the minimum amount is high, the rate is high for a large sum invested over two years.
First National Bank
FNB offers 8.62% on investments of R1 million and above. This deal is accorded to the affluent looking for short-term guaranteed returns, well covered by the expansive financial services of FNB.
Best 1-Year Fixed Deposit Rates
African Bank
African Bank offers practical yearly interest of 9.25% for a 1-year fixed deposit with a minimum disbursement of R500. The adequate earnings at this rate make for a competitive and safe short-term investment option.
Access Bank Plc
This bank offers an effective rate similar to that of African Bank at 9.25% for a 1-year fixed term—minimum disbursement of R500. This investment option is for investors looking at high returns over the short term.
Sasfin
Sasfin has a yield rate of 9.17%, and it would take no less than R20,000 to get started. The first investment is more, though the rate is nice when discussing a one-year term.
TymeBank
TymeBank gives a 9%-yielding option, requiring no less than R1 to start investing. So, this easy option is suitable for those investors with different amounts of money, which makes it flexible.
Investec
A locked flat rate of 9% is guaranteed for a maximum investment of up to R100,000. That’s good for a fantastic investment over one year, backed by well-known financial services by Investec.
Best 6-Month Fixed Deposit Rates
Access Bank Plc
Access Bank Plc offers a guarantee at an annual rate of 8.68% for the minimum investment of R500 6-month fixed deposit. This rate is preferable for a short-term investment.
African Bank
African Bank offers 8.5% for a 6-month investment if you deposit at least an equivalent value of R500. It pays a decent return for an investment time frame this short.
Bidvest
The effective rate is 8.45% of the investment for 6 months, with an opening deposit of at least R10,000. So, while the opening investment is more considerable, the rate is suitable for a 6-month fixed period.
Sasfin
At least R20,000 must be invested to get 8.41% from Sasfin. It is ideal for those who could make a higher initial investment and want something with a relatively short time frame for the investment length.
Nedbank
At Nedbank, some best-fixed deposits deliver an 8.35% effective rate. The minimum is R250,000, but that can be more than many investors might have to put into an account—yet still quite competitive.
Best 3-Month Fixed Deposit Rates
Access Bank Plc
Access Bank Plc offers the 8.41% rate annually in a 3-month investment of fixed deposit, which requires a minimum of R500 to invest in it. This is suitable for short-term investments.
Bidvest
This stands at 8.3% annually. It requires a minimum of R10,000 to invest in it. It is for those investors who want higher returns in investment in a short period.
African Bank
African Bank charges an effective rate of 8.26%, with a minimum investment of R500. Such a rate is commendable over its 3 months of reaping good returns.
Nedbank
Nedbank charges an effective rate of 8.08%, but it accrues a minimum of R250,000 on yielding a good return over short-term investment.
Standard Bank
Standard banks offer 7.98%, though one must deposit only R5 million. This is true significantly among wealthy people who require faster investment returns.
