Read about the Fixed Deposit account

If you’re serious about building wealth without the uncertainty of market-linked products, the Discovery Bank Fixed Deposit Account could be your best friend. You start with a once-off lump sum deposit (from R10,000), and then let your money grow at highly competitive interest rates for the term you choose.

Fixed Deposit

Last updated: May 28, 2025

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Interest Rate

Earn up to 10.7% (period effective) interest paid at maturity by reinvesting your monthly interest.

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Access to funds

Withdrawals from your account before your investment term ends can result in a penalty fee.

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Opening Deposit

Invest a lump sum upfront.

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Monthly Fees

No monthly fee.

Tax Implications

– Interest earned on fixed deposit accounts is subject to income tax unless your annual interest falls below the SARS exemption threshold (currently R23,800 for individuals under 65 and R34,500 for individuals 65 and older).

Read about the Fixed Deposit account

If you’re serious about building wealth without the uncertainty of market-linked products, the Discovery Bank Fixed Deposit Account could be your best friend. You start with a once-off lump sum deposit (from R10,000), and then let your money grow at highly competitive interest rates for the term you choose.

Read about the Fixed Deposit account

Fixed Deposit

Interest Rate

Access to funds

Opening Deposit

Monthly Fees

Tax Implications

Read about the Fixed Deposit account

What you need to apply

Savings Calculator

What you need to apply