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fire2029

The best fixed deposit rates in South Africa - October 2019

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Hi all,

 

 

I recently wanted to compare fixed deposit rates across different banks. I realised that there is no such thing as a quick comparison of the fixed deposit rates. Sites like mytreasury.co.za and hippo.co.za require contact details (& they ended up sales calling me - arghh) & only give a partial view. 

 

So I ended up going to each banking website. Some banks quote nominal rates. Others effective (yay for effective annual rates), others simple interest and then others come up with their own terminology.  Frustrating. 

 

Anyway, it took me a while, but I ended up understanding what the banks are quoting on their website & converted all the rates to effective rates.

 

Here are the results of my findings, which have been made public at www.ratecompare.co.za.

 

Best 3 month rates - African Bank & Discovery

Best 6 month rates - African Bank, Discovery, Capitec 

Best 12 month - African Bank, Sasfin, Discovery

Best 2 year - African Bank & SA Retail Bonds

Best 3 year Sasfin & SA Retail, Capitec

Best 5 year - African Bank, SA Retail and Capitec

 

 

 

 

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Very nice, some feedback though:

 

 

Screenshot 2019-10-25 at 10.20.50.png

 

.... I can't see Jack.

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