Nedbank fixed deposit rates
A Nedbank fixed deposit page usually shows a rate table with more than one row, because the rate depends on how much you deposit. It may also show a calculator that lets you change the amount and the term. Reading the table correctly means knowing which rate applies to your balance and whether the figure shown is a nominal rate or a rate at maturity.
Nedbank fixed deposit rates by term
Rates from Nedbank's own page, with the day we read it and the day the bank's table took effect.
Sort by any term: press its column heading.
Ordered by the 12-month rate, largest first. Rows without a 12-month term come last, unnumbered.
| Bank · product | |||||
|---|---|---|---|---|---|
| NedbankPrivateFixed deposit, balance R1,000,000+ · Bank’s rate pagefrom1,000,000ZARPage published (printed on the bank's page) · nominal rates; the 1-month rate is a rate at maturity | 6.60%highest | 6.65%highest | 7.00%highest | 7.15%highest | 7.35%highest |
| NedbankPrivateFixed deposit, balance R1,000 - R24,999 · Bank’s rate pagefrom1,000ZARPage published (printed on the bank's page) · nominal rates; the 1-month rate is a rate at maturity | 6.10% | 6.15% | 6.45% | 6.60% | 7.00% |
| FNB, Absa, Capitec, TymeBank and Discovery Bank are not in the table: their pages could not be read as a rate table (a security check, a block, or only an 'up to' headline). We print no figure for them. | |||||
No row matches both filters. Change one of them.
- — no such term at this bank (not a zero rate)
- highest marked only where every bank in the column was checked the same day
- checked 8–30 days ago
- 31–60 days ago: recheck due
What a Nedbank fixed deposit pays
Example with the 12-month rate of the first row above. Change the amount, term or rate.
Nominal rate versus rate at maturity
The table may label one column as a nominal rate and another as a rate at maturity. A nominal rate is quoted as an annual figure, so it describes the yearly return before any compounding within the term is taken into account. A rate at maturity reflects what the deposit actually earns over the full term once interest is added to the balance.
The one-month row is usually shown as a rate at maturity. That is because a one-month term ends before any meaningful compounding can occur, so the annualised figure and the return over the term are effectively the same thing. For longer terms the two columns can differ, and the gap grows as the term lengthens.
When you compare rows, check which column you are reading. A higher nominal rate does not always mean a higher maturity amount if the terms differ. The calculator on the page applies the rate for the term you select, so the output it shows already reflects the maturity basis.
How balance bands change the rate
The table shows a small balance band and a large balance band. Each band carries its own rate, and the rate for the larger band is not automatically the one that applies to a smaller deposit. Your deposit is priced according to the band it falls into, so the same term can carry different rates for different amounts.
This structure means the rate you see at the top of the table may not be the rate you receive. If your balance sits in the lower band, read across that row rather than the row for larger balances. The calculator usually asks for an amount so it can apply the correct band for you.
Balance bands can also affect how the maturity figure is calculated, since the rate feeds into the interest earned over the term. A change of band changes the rate, and a change of rate changes the maturity amount. Check both the band and the term before you rely on a quoted figure.
A common mistake is reading the rate for the large balance band and assuming it applies to any deposit, when the rate actually depends on which band the balance falls into.
Sources and read dates
Every figure on this page points to one of these. The date on the right is the day we read the source.
- 7BankNedbank: fixed deposit interest rates and feespersonal.nedbank.co.zaNedbank rates