Fixed Deposit Calculator
Calculate fixed deposit returns at South African bank rates. Compare terms, model a deposit ladder, and see your after-tax return accounting for the R23,800 annual interest exemption.
Quick Calculator Get a fast estimate
R
%
Interest income is taxable. First R23,800 (under 65) is exempt each year.
Maturity Value
R 109 381
Total Interest Earned
R 9 381
Initial Deposit
R 100 000
Term
1 year
Effective Annual Rate
9.38%
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SA Fixed Deposit Rates (2025 Approximate)
| Bank | 3 Month | 6 Month | 12 Month | 24 Month |
|---|---|---|---|---|
| FNB | ~8.25% | ~8.75% | ~9.25% | ~9.50% |
| Standard Bank | ~8.00% | ~8.50% | ~9.00% | ~9.25% |
| Nedbank | ~8.25% | ~8.75% | ~9.25% | ~9.50% |
| Absa | ~8.00% | ~8.50% | ~9.00% | ~9.25% |
| Capitec | ~8.50% | ~9.00% | ~9.50% | ~9.75% |
| African Bank | ~8.75% | ~9.25% | ~9.75% | ~10.25% |
Rates change frequently. Always confirm with your bank before investing.
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Extended Calculator More options, charts, and scenario comparison
R
%
%
Maturity Value
R 109 925
Interest Earned
R 9 925
Tax on Interest
R 0
After-Tax Value
R 109 925
Note: R23,800 exemption applied
Interest Accumulated Over Time
Fixed Deposit vs Other Options
- Fixed Deposit: Guaranteed return, FSCA regulated, capital protected. Best for certainty.
- Money Market Fund: Similar rates, more flexibility, not capital-guaranteed but very low risk.
- TFSA: Tax-free interest, same rates (or higher in equity). Better long-term if within limits.
- Government Retail Bond (RSA Retail Bonds): Issued by National Treasury, competitive rates, very low risk.
Tax tip: If your total annual interest income is below R23,800 (under 65), you pay no tax on it. Consider splitting deposits between spouses to double the exemption.
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Professional Calculator Complete parameters, sensitivity analysis, and detailed breakdown
Deposit Details
R
%
Capitec/African Bank lead at ~9.75-10.25% (2025)
yrs
Reinvests at same rate each year
Tax & Inflation
%
%
SA CPI ~5.5%
Final Balance (after tax, reinvested)
R 393 695
Total Interest
R 143 695
Total Tax Paid
R 11 095
Real Value (inflation-adj)
R 301 230
Effective After-Tax CAGR
9.51%
Annual Interest Exemption
R 23 800
Year-by-Year Breakdown
| Year | Opening | Interest | Tax | Closing | Real Value |
|---|---|---|---|---|---|
| Year 1 | R 250 000 | R 25 494 | R 525 | R 274 969 | R 260 634 |
| Year 2 | R 274 969 | R 28 041 | R 1 315 | R 301 695 | R 271 059 |
| Year 3 | R 301 695 | R 30 766 | R 2 159 | R 330 302 | R 281 289 |
| Year 4 | R 330 302 | R 33 683 | R 3 064 | R 360 921 | R 291 342 |
| Year 5 | R 360 921 | R 36 806 | R 4 032 | R 393 695 | R 301 230 |
Tax Efficiency Tips
Interest Exemption: You pay no tax on the first R23,800 (R34,500 if 65+) of interest income per year. Split large deposits across spouses to double this exemption.
TFSA Alternative: A Tax-Free Savings Account earns interest completely tax-free (annual limit R36,000, lifetime R500,000). For long-term deposits, a TFSA may be more efficient.
Timing: If your income will be lower next year (e.g. retirement), a longer-term FD maturing then could save significant tax.
Frequently Asked Questions
Fixed deposit rates in South Africa for 2025: FNB, Standard Bank, Nedbank, and Absa typically offer 8.5-10.5% for 12-month terms. African Bank and Capitec often lead at 9.75-10.25%. Rates increase with deposit size and term length.
Yes. Interest earned on fixed deposits is added to your taxable income. However, individuals under 65 get an annual interest exemption of R23,800 (R34,500 for those 65+). Anything above this is taxed at your marginal rate. A TFSA avoids this entirely.
Most South African banks allow early termination with a penalty — typically forfeiting 3-6 months of interest. Some fixed deposits are completely locked for the full term. Check your specific bank's terms before committing.
A ladder splits your capital across multiple FD terms (e.g. 3, 6, 12, 24 months). When each matures, you reinvest at the longest term. This provides quarterly liquidity while maximising the yield of longer-term rates.