Interest Rates on Nedbank Fixed Deposits

The fixed deposit offered by Nedbank is designed to assist individuals to save large sums of money over a set period of time and to benefit by earning interest on this investment. Individuals can keep track of interest rates on Nedbank fixed deposits by visiting their nearest Nedbank branch or simply checking online. 

What is a fixed deposit?

A fixed deposit is an amount of money you save that cannot be accessed until maturity and no additional funds may be added to this investment. Various institutions have different options for fixed deposit types.

What benefits are offered?

Interest can be capitalised or withdrawn on demand, however, withdrawal of the deposit before maturity is not allowed.

Once the fixed deposit amount has matured, clients will have earned a significant amount of interest and will have the freedom to use the money however they please.

Here’s what you need to know about interest rates on Nedbank fixed deposits:

Rates are effective from 30 August 2016

Fixed deposits for individuals younger than 55 years

  • 1 month investment= 6.10% interest on expiry
  • 2 months investment= 6.11%
  • 88 days investment= 6.53%
  • 4 months investment= 6.55%
  • 5 months investment= 6.57%
  • 6 months investment= 7.15%
  • 7-8 months investment= 7.17%
  • 9-11 months investment= 7.21%
  • 12 months investment= 8.83%
  • 13-17 months investment= 8.87%

Exclusively online fixed deposit of R1000 or more

  • 1 month investment= 6.20%
  • 2 months investment= 6.21%
  • 88 days investment= 6.63%
  • 4 months investment= 6.65%
  • 5 months investment= 6.67%
  • 6 months investment= 7.25%
  • 7- 8 months investment=7.27%
  • 9-11 months investment= 7.31%
  • 12 months investment= 8.93%
  • 13-17 months investment= 8.97%

Bonus Fixed Deposit

3-12 month fixed term deposit

  • 6.25% monthly
  • 6.28% on expiry

6 month fixed term deposit

  • 6.84% on expiry

Fixed deposits for individuals older than 55 years

  • 2 months investment= 6.20%
  • 88 days investment= 6.60%
  • 4 months investment= 6.60%
  • 5 months investment= 6.60%
  • 6 months investment= 7.30%
  • 7-8 months investment= 7.30%
  • 13-17 months investment= 8.60%

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