DEPOSIT
Amount toR 20,000,000
Term (days)from 90 to 1825
Ratefrom 8.5 to 10.25%
Agefrom 18
ApprovalHigh
Savings & Fixed Deposits in South Africa
Compare fixed deposit accounts, notice accounts (32-day, 60-day) and savings accounts from South African banks. Rates linked to the SARB repo rate and prime lending rate.
Compounding
№ 2026-12
Rate up to 8%
Fixed Deposit
Protection 100%
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Find a loan
DEPOSIT
Amount toR 5,000,000
Term (days)from 90 to 1800
Ratefrom 5 to 12.8%
Agefrom 18
ApprovalHigh
DEPOSIT
Amount toR 1,000,000
Term (days)from 90 to 1800
Ratefrom 0.675 to 9.94%
Agefrom 18
ApprovalHigh
DEPOSIT
Amount toR 100,000
Term (days)from 90 to 360
Ratefrom 8.75 to 100%
Agefrom 18
ApprovalHigh
DEPOSIT
Amount toR 250,000
Term (days)from 32 to 120
Ratefrom 7.4 to 8.46%
Agefrom 18
ApprovalHigh
DEPOSIT
Amount toR 250,000
Term (days)from 30 to 1800
Ratefrom 0.25 to 8.65%
Agefrom 18
ApprovalHigh
How to Open a Deposit Account in South Africa
1
Choose a deposit product
Compare fixed deposit rates, notice account periods (32-day, 60-day) and savings account rates in our catalog. Consider whether you need instant access or can commit to a fixed term.
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2
Apply online or at a branch
Online on the bank's website or at a branch: South African ID / Smart ID card and deposit amount. For online accounts — confirm via the bank's app.
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3
Transfer the amount
Transfer funds to the deposit account via EFT or at a branch counter. Each product has a minimum opening balance.
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4
Earn interest
Interest is paid monthly or at maturity per the product terms. Confirm the interest payment frequency before opening.
Deposit conditions in Kazakhstan
Key parameters for comparing term and savings deposits: amounts, rate vs APR (GESV), term, top-ups, withdrawals, capitalization, and KFGD deposit insurance limits. Always confirm details in your bank agreement.
- Amounts: from small minimums to large caps — product- and currency-dependent.
- Rates: compare nominal annual rate and effective (APR-style) yield.
- Terms: from a few months to several years; demand deposits have no fixed term.
- Liquidity: early closure usually recalculates interest at a lower tier.
- Insurance: KFGD protects eligible deposits up to statutory limits.
Why use CreditDeals
- Structured overviews and comparison tabs for major banks.
- Deposit yield calculator with payout vs capitalize options.
- Free informational comparison — not a bank or broker.
Frequently Asked Questions About Deposits in South Africa
Choose a bank and product, apply online or at a branch. You will need your South African ID / Smart ID card and an initial amount not less than the bank's minimum deposit.
Early withdrawal from a fixed deposit usually results in a penalty (reduced or forfeited interest). Notice accounts (32-day or 60-day) require advance notice before withdrawal; fixed-term deposits typically cannot be broken early without a penalty.
South Africa does not have a statutory deposit insurance scheme like the EU's deposit guarantee or Mexico's IPAB. Deposits at registered banks are regulated by the South African Reserve Bank (SARB) via its Prudential Authority and governed by the Financial Sector Regulation Act. The Financial Sector Conduct Authority (FSCA) oversees conduct. Tyme Bank, Discovery Bank and Capitec are fully registered SARB-regulated banks.
Longer fixed-term deposits generally offer higher rates. If you may need access to funds, consider a notice account (32-day or 60-day) rather than a fixed deposit.
Interest income is subject to income tax in South Africa. South African tax residents receive an annual interest exemption (R23,800 for those under 65; R34,500 for those 65+). Interest above the exemption is taxed at your marginal income tax rate. Banks withhold 15% WSST (Withholding Tax on Interest) for non-residents.
Fixed Deposits & Savings in South Africa — Compare Rates
South African banks offer fixed deposit accounts, notice accounts (32-day and 60-day) and savings accounts. Rates are linked to the SARB repo rate and the prime lending rate. Major providers include Standard Bank, FNB, Absa, Nedbank, Capitec, African Bank and Tyme Bank.
Compare fixed deposit rates, notice account periods and minimum balances. Consider whether you need flexible access (notice account) or are willing to lock in funds for a higher fixed-term rate. CreditDeals provides up-to-date product listings.
Note that South Africa does not have a statutory deposit insurance scheme. Deposits are held at banks regulated by SARB's Prudential Authority under the Financial Sector Regulation Act. Always verify that your bank is registered with SARB before depositing.
Deposits
C
Capitec Fixed Deposit
Best fixed deposit rate in SA
Opened a 12-month fixed deposit with Capitec at 9.75%. The Deposit Insurance Scheme protects my money. The app makes it easy to track intere...