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 its inflation was 11.3% in 2008 and 7.1% in 2009.

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States/Regions/Counties : , Gauteng, Western Cape, KwaZulu-Natal
South Africa Bank Photos

South Africa Bank interest Rates

Showing rates for 25 Bank deposit providers in South Africa.
Provider Branch Founded Ownership
ABSA Bank ABSA Bank 800 1991 Foreign
FNB FNB 775 1838 Local
Standard Bank ZA Standard Bank ZA 700 1862 Local
African Bank African Bank 637 1993 Local
Capitec Bank Capitec Bank 589 2001 Local
Nedbank Nedbank 536 1988 Local
Old Mutual South Africa Old Mutual South Africa 258 1845 Foreign
PSG Konsult PSG Konsult 181 1996 Local
Bidvest Bank Bidvest Bank 100 2000 Local
Mercantile Bank South Africa Mercantile Bank South Africa 13 1987 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.

In South Africa, the Reserve Bank of South Africa ( 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 ( has a regulatory regime from the FIC Act to 'know your client', record-keeping, reporting and compliance of these obligations on financial institutions. 

South Africa Discussion Activity

  • Citibank South Africa
    Q: I am an American living in Chicago. I plan to go to Cape Town, South Africa later this year. How do I open a regular checking account in South Africa, so I can transfer living expenses into this account on a monthly basis. The account should be in Rand. I would use a debit card (in Rand) to pay bills, and maybe use local checks. (I do not want to incur FX conversion fees every time I use an American debit card.) Any advise is appreciated. Thanks.

    Reply James from Chicago, United States
  • ABSA Bank - Deposits
    Q: If i invest 5000 for six months how much do i receive

    Reply kate from South Africa
  • Capitec Bank - Savings - Capitec Bank Savings Account
    Q: Can i swipe with mycapitec card i have two account in one card is saving and salary account

    Reply Maggy from South Africa
  • Nedbank - Deposits
    Q: 1. how much do i need to invest and for what period, to earn a monthly payment of R9,800? 2. how much do i need to invest and for how long to receive an annual payment of R120,000?

    Reply cecil from Durban, South Africa
  • FNB - Deposits - FNB 6 Month Fixed Deposit
    Q: Hi I would like to save R1500 -R2000 montly for about a year what will my interest be and how much will I have saved after a year

    Reply Saeeda from Cape Town, South Africa
  • African Bank - Deposits - African Bank 6 Month Term Deposit
    Q: Hi I would like to save about R1500 or more monthly for a year and I would like to know how much would I get out with interest after a year

    Reply Saeeda from Cape Town, South Africa
  • FNB - Deposits - FNB 1 Year Fixed Deposit
    Q: If I fixed deposit 50000 for year, how much to expect?

    Reply Patricia from Durban, South Africa
  • Standard Bank ZA - Deposits - Standard Bank 1 Year Fixed Deposit
    Q: What is interest for R1500000 for 60 months getting interest monthly

    Reply Edwin from South Africa
  • Citibank South Africa
    Q: Is there a Citibank branch in Cape Town South Africa ? What is its address? Can one withdraw there money from his account in Citibank in England?

    Reply Ruthy from Tel Aviv, Israel
  • HSBC Africa
    Q: i'm looking for the HSBC brach in Durban Kwazulu natal, where can i find it? or what is the contact number for them?

    Reply James from Durban, South Africa