Capitec Fixed Deposit
Lock in guaranteed rates with South Africa's most innovative bank
Capitec Fixed Deposit lets you earn guaranteed interest rates up to 9% by locking your money away for a fixed term. With flexible terms from 7 days to 60 months, it's ideal for planned savings.
Known for simplicity and competitive rates, Capitec offers some of the best fixed deposit rates in South Africa. Your rate is locked in at the start, protecting you from market fluctuations during your term.
Quick Facts
Interest Rate
Up to 9%
Guaranteed for term
Minimum Deposit
R10,000
Single lump sum
Terms
7 Days - 60 Mo
Flexible options
Key Features
Guaranteed Rate
Your interest rate is locked in from day one and won't change regardless of what happens to market rates.
Capital Guaranteed
Your deposit is 100% safe. You'll get back your full capital plus the agreed interest at maturity.
No Fees
Zero account fees or administration charges. 100% of your money earns interest.
Flexible Terms
Choose from 7 days to 60 months based on when you need the money back.
Interest Payout Options
Choose to receive interest monthly, at maturity, or reinvest for compound growth.
Easy Digital Management
Open and manage via the Capitec app. See your balance, maturity date, and projected returns anytime.
Interest Rates by Term
| Term | Interest Rate | Best For |
|---|---|---|
| 7 - 30 Days | 6.0% - 7.0% | Short-term parking |
| 1 - 3 Months | 7.0% - 7.5% | Emergency reserves |
| 6 Months | 7.75% | Medium-term goals |
| 12 Months | 9.0% | Annual savings |
| 24 Months | 8.75% | 2-year goals |
| 36 - 60 Months | 8.5% - 9.0% | Long-term savings |
* Rates shown are indicative and subject to change. Higher deposits may qualify for better rates. Check the Capitec app for current rates.
Example: What Will You Earn?
Here's what R50,000 would earn at 9% over 12 months:
Investment Details
* Interest is taxable. If you're in the 35% tax bracket and exceed your interest exemption, you'd pay ~R1,575 tax on this interest.
Early Withdrawal
Fixed deposits are designed to be held until maturity. However, if you need to access your funds early:
- Interest will be recalculated at a lower "call" rate
- You may forfeit some or all interest earned
- An administration fee may apply
- Your capital is always safe - only interest is affected
Tip: Only invest money you won't need before maturity. Keep emergency funds in an accessible savings account.
Requirements to Open
Eligibility
- South African citizen or resident
- 18 years or older
- Capitec savings or transaction account
- Minimum R10,000 to deposit
Documents Needed
- Valid SA ID (or passport for non-SA)
- Proof of residence
- Source of funds declaration (for large amounts)
* Existing Capitec clients can open instantly via the app
How to Open
Capitec App (Fastest)
Open the app > Save > Fixed Deposit > Choose term and amount > Confirm. Done in minutes.
Internet Banking
Log into Capitec Internet Banking > Transact > Open a Fixed Deposit.
Branch Visit
Visit any Capitec branch with your ID. A consultant will assist you with the process.
Call Centre
Call 0860 10 20 43 to open over the phone with assistance.
Not a Capitec client? You'll need to open a Global One account first. This can be done online in minutes and is free.
Pros and Cons
Pros
- Guaranteed, fixed interest rate
- Capital is 100% safe
- Competitive rates (up to 9%)
- No monthly or admin fees
- Easy to open via app
- Flexible term options
Cons
- Money locked until maturity
- Early withdrawal penalties
- R10,000 minimum barrier
- Interest is taxable
- Requires Capitec account
- Miss out if rates rise after opening
Fixed Deposit vs Savings Account
| Feature | Fixed Deposit | Savings Account |
|---|---|---|
| Interest Rate | Higher (up to 9%) | Lower (4-6%) |
| Access to Funds | Locked until maturity | Anytime |
| Rate Guarantee | Fixed for term | Variable |
| Best For | Planned savings | Emergency fund |
Frequently Asked Questions
What happens at maturity?
You'll be notified before maturity. You can choose to withdraw all funds, reinvest (roll over) at the current rate, or add more funds and reinvest. If you don't respond, funds may roll over automatically.
Can I add to my fixed deposit?
No, you can't add funds to an existing fixed deposit. However, you can open additional fixed deposits at any time, each with their own rate and term.
Is my deposit insured?
Yes, bank deposits in South Africa are covered by the South African Reserve Bank's deposit insurance scheme up to R100,000 per depositor per bank.
Should I choose monthly or maturity interest?
For maximum growth, choose interest at maturity (compound effect). If you need regular income, monthly payouts are better but will earn slightly less overall.