South Africa Interest Rates

The South African economy with a population of 49.99 Million (Est 2010) ranks 25th in the world with a GDP PPP of 492 billion and GDP PPP per capita of 10,229 vs 45,934 (United States) according to the IMF in 2009.Its currency is the South Africa Rand (ZAR). Bank deposits held for a fixed term in South Africa are called fixed deposits. According to CIA.gov its inflation was 11.3% in 2008 and 7.1% in 2009.

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Showing rates for 25 Bank deposit providers in South Africa.
BankBranchFounded1 Year RateOwnership
ABSA Bank80019916.95%Foreign
FNB77518387.30%Local
Standard Bank ZA70018626.85%Local
African Bank63719937.59%Local
Capitec Bank58920016.75%Local
Nedbank53619887.49%Local
Old Mutual South Africa2581845N/AForeign
PSG Konsult1811996N/ALocal
Bidvest Bank1002000N/ALocal
Mercantile Bank South Africa1319877.00%Foreign
The retail banking landscape in South Africa is dominated by large national banks. 

Largest banks in South Africa 
With both large number of both ATMs and branches as well as being historically established, the Barclays Africa Group (ABSA), FirstRand (FNB), Nedbank and Standard Bank were considered the big 4 banks in the country, with more recently Capitec now included due to its gain in market share.

Local and Specialist banks
Postbank began in recent times to provide banking services to the 6m underbanked South Africans, leveraging on its Post Office network across the country. Investec is specialist niche bank that provides banking/financial products and services to its niche client base.

Foreign Banks
While Citibank and HSBC are located in South Africa, they do not offer retail banking products, the State Bank of India for example provides retail deposit and loan products in the country.

Regulations
In South Africa, the Reserve Bank of South Africa (resbank.co.za) supervises and regulates for banks that take deposits through its 'Bank Supervision Department (BSD)'. For suspicious transactions and anti Money Laundering,  the  Financial Intelligence Centre (fic.gov.au) has a regulatory regime from the FIC Act to 'know your client', record-keeping, reporting and compliance of these obligations on financial institutions.