Many prospective investors contemplating FNB fixed deposit accounts are keen on understanding the interest rates associated with these investment options.
Fixed-term accounts offer appealing interest rates, making them an attractive alternative to traditional savings accounts.
In this guide, we delve into the FNB fixed deposit account interest rates in South Africa, providing insights for potential investors.
FNB Fixed Deposit Account Interest Rates
Below are the FNB fixed deposit account interest rates based on different investment terms and amounts:
Nominal Interest Rate
| Period | R10 000 – R249 999.99 | R250 000 – R499 999.99 | R500 000 – R999 999.99 | R1 000 000+ |
|---|---|---|---|---|
| 1 month | 7.60% | 7.65% | 7.70% | 7.80% |
| 3 month | 7.85% | 7.90% | 7.95% | 8.00% |
| 6 month | 8.00% | 8.05% | 8.10% | 8.15% |
| 9 month | 8.15% | 8.20% | 8.25% | 8.30% |
| 12 month | 8.55% | 8.60% | 8.65% | 8.70% |
| 24 month | 8.65% | 8.70% | 8.75% | 8.80% |
| 36 month | 8.75% | 8.80% | 8.85% | 8.90% |
| 48 month | 8.85% | 8.90% | 8.95% | 9.00% |
| 60 month | 9.15% | 9.20% | 9.25% | 9.30% |
Annual Effective Rates
| Period | R10 000 – R249 999.99 | R250 000 – R499 999.99 | R500 000 – R999 999.99 | R1 000 000+ |
|---|---|---|---|---|
| 1 month | 7.87% | 7.92% | 7.98% | 8.08% |
| 3 month | 8.14% | 8.19% | 8.25% | 8.30% |
| 6 month | 8.30% | 8.35% | 8.41% | 8.46% |
| 9 month | 8.46% | 8.52% | 8.57% | 8.62% |
| 12 month | 8.89% | 8.95% | 9.00% | 9.06% |
| 24 month | 9.00% | 9.06% | 9.11% | 9.16% |
| 36 month | 9.11% | 9.16% | 9.22% | 9.27% |
| 48 month | 9.22% | 9.27% | 9.33% | 9.38% |
| 60 month | 9.54% | 9.60% | 9.65% | 9.71% |
Nominal rate per annum (NACM): This is the annualised interest rate that you will earn daily and is capitalised monthly. This rate does not take into account the compounding interest effect.
Annual Effective Interest rate: Annualised interest rate that takes into account the compounding interest effect for one year assuming interest is not withdrawn.
Tips on Earning More
To maximize returns from your fixed deposit investment, consider the following tips:
- Invest More: Higher investments attract higher interest rates, as evident in the provided table.
- Choose a Longer Term: Opting for a more extended investment term typically results in higher interest earnings.
In summary, this guide outlined the FNB fixed deposit account interest rates, showcasing FNB’s competitive rates in the market.
Emphasizing the correlation between higher investments, longer terms, and increased returns, investors can strategically leverage fixed deposit accounts for optimal earnings and secure money management.