What Is The Best Interest Rate In South Africa

What is the Interest Rate?

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed.

What Is The Best Interest Rate In South Africa

Below are some of the Best Interest Rates.

The best interest rate is 11.3% offered by SA Retail Bonds on a 5-year fixed deposit investment.

Which bank in South Africa gives the best interest rates?

A few do and, on this basis, there are four banks that offer effective rates of over 10% for a 12-month fixed deposit: African Bank, Grindrod Bank, Nedbank, and TymeBank. This requires a nominal rate of 9.57% or higher. 

What is the best-fixed deposit rate in South Africa?

The best-fixed deposit account in South Africa in 2023 is the Access Bank fixed deposit account which offers an 11.60% interest rate for their 60 months fixed deposit account. The account requires a minimum deposit of R500. 00 which has to be kept in the account over the investment period.