SA Cash Investment Rate Comparison

Compare the best returns on your cash savings across South Africa's major banks — call accounts, notice deposits, and fixed deposits from 7 days to 60 months.

SA Cash Investment Rate Comparison

Compare the best returns on your savings across South Africa's major banks and institutions

Rates shown for a R100,000 deposit, quoted as effective annual rate, current as at June 2026. Figures marked ~ are approximate and being reverified.

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Disclaimer: All rates are Effective Annual Rates (EAR). Rates marked approx. are estimated from published research and rate comparison sites (May 2026) — they are indicative only. Confirmed rates are sourced directly from official bank publications. Rates change frequently. Always verify the current rate with the institution before investing. This tool is for comparison purposes only and does not constitute financial advice.

How rates are sourced & methodology

Rates are compiled monthly from each institution's published rate sheets, their official websites, and independent rate comparison sites including ratecompare.co.za. Where possible, rates are taken directly from bank sources (marked as confirmed). Where direct data is not available, rates are estimated from published market research.

All rates are shown as Effective Annual Rate (EAR) — the actual annual return accounting for compounding. Banks often quote Nominal Annual Rate (NAR); where this is the case the conversion is noted in the table (e.g. Access Bank 60-month: 10.45% nominal = 10.97% EAR compounded monthly; SA Retail Bonds 5-year: 9.25% nominal = 9.46% EAR compounded semi-annually).

The 5-year total return shown for 60-month fixed deposits assumes interest is reinvested at the same rate (compounded annually at the EAR). Actual returns may vary depending on payout terms.

Data last reviewed: June 2026. SA Retail Bonds rates are published monthly by National Treasury at rsaretailbonds.gov.za. Investec publishes daily rates at investec.com.

Money Market Unit Trusts

Managed funds investing in short-term SA money market instruments (T-bills, NCDs, bank deposits). Typically outperform call accounts with same or next business day liquidity. Unlike bank deposits, these are not covered by the Deposit Insurance Scheme — but capital risk is extremely low.

Fund	Yield	TER
Best Allan Gray Money Market	7.49%	0.29%
Gross AEY; lowest TER in this group. No minimum investment. MDD 31 Mar 2026.
Sygnia Money Market (Class A)	7.20%	0.30%
Gross current yield. No minimum investment stated. MDD 31 Mar 2026.
Coronation Money Market	7.06%	0.18%
TTM yield after fees. Min. investment: R10,000 (lump sum only). April 2026.
Sanlam SIM Money Market	6.85%	0.57%
Current yield from the April 2026 MDD (issued 19 May 2026). Ultra-conservative fund, 100% SA money market instruments. Min. investment: R20,000 lump sum or R1,000/pm debit order. TFSA-eligible. Note higher TER.
Old Mutual Money Market	6.71%	0.59%
Published yield after fees. Managed by Futuregrowth. No minimum investment stated. January 2026. Highest TER in this group.

Gross vs net yields: Yields marked “gross” are before the TER is deducted. Approximate net yield = published yield − TER (e.g. 7.49% − 0.29% ≈ 7.20% for Allan Gray). Coronation and Old Mutual figures are already quoted after fees. All yields are variable and move with the repo rate (currently 6.75%).

Not a bank deposit: Money market unit trusts are not covered by the SA Deposit Insurance Scheme (SADI), which protects bank deposits up to R100,000 per depositor. These are FSCA-regulated collective investment schemes — capital loss is extremely rare but not impossible.

Yields sourced from official Minimum Disclosure Documents (MDDs). Last reviewed June 2026. Always verify the current yield directly with the fund manager before investing. This is not financial advice.

How to compare cash investment rates in South Africa

Cash in the bank can earn very different returns depending on the product. A call account or notice deposit lets you reach your money quickly but usually pays less. A fixed deposit locks your money away for a set term, from seven days to several years, in exchange for a higher rate. Money market unit trusts pool many investors and aim for a competitive yield with same-day or next-day access.

This tool compares current advertised rates across South Africa's major banks and money market funds, so you can see where your savings would earn the most for the access you need. You can also browse all our free South African tools and calculators.

Frequently asked questions

What is the difference between a call account, a notice deposit and a fixed deposit?

A call account gives you instant access and a variable rate. A notice deposit asks you to give notice, often 32 days, before withdrawing and pays a little more. A fixed deposit locks your money for a chosen term and usually pays the highest rate of the three, because the bank can rely on holding it.

Which bank pays the best interest on savings in South Africa?

There is no single winner. Rates change often, and the best one depends on your term and how quickly you need access. Smaller and digital banks sometimes beat the big four on fixed deposits. The tool shows current rates side by side so you can compare for your own term.

Are these rates guaranteed?

The figures shown are the advertised rates at the time of updating and can change. A fixed deposit rate is locked once you open the deposit, while call and notice rates can move with the repo rate. Always confirm the current rate with the bank before investing.

Is the interest I earn taxed?

Yes, interest is taxable, although South African residents get an annual interest exemption that shields a portion of it from tax, with a higher allowance from age 65. The returns shown here are before tax.

What is a money market unit trust?

It is a low-risk fund that invests in short-term cash instruments and aims to pay a yield close to or above a call account, usually with access within a day. It is not a bank deposit, so it sits outside deposit guarantees, but it is considered low risk.