Best savings account rate in the South Africa today: 7.23% effective
8 of 22 South African banks · as at 1 Nov 2026
Highest savings account rate
effective · recorded 2026-11-01
Spread of recorded savings account rates
Best rate by product
{"mcpServers":{"ratesonar-za":{"url":"https://sarates.ratesonar.com/mcp"}}}API docsAt a glance
- Institutions assessed
- 22
- With rates recorded
- 8
- Offers live
- 2883
- Last recorded
- 1 Nov 2026 (last page captured 2026-11-01 12:01 UTC)
- Currency
- ZAR
- Deposit basis
- nominal and effective (each ranked apart)
- Captured
- twice a day, Africa/Johannesburg time, from each bank's own public page
Official rates
| Rate | Latest | As of | Source |
|---|---|---|---|
| 5-10 years (daily average bond yields) | 8.54% | 29 Oct 2026 | custom.resbank.co.za |
| 10 years and longer (daily average bond yields) | 8.75% | 29 Oct 2026 | custom.resbank.co.za |
| Prime lending rate | 10.75% | 30 Oct 2026 | custom.resbank.co.za |
| SARB repo (policy) rate | 7.25% | 30 Oct 2026 | custom.resbank.co.za |
| Treasury bills - 91 day (tender rates) | 7.16% | 29 Oct 2026 | custom.resbank.co.za |
| Treasury bills - 182 day (tender rates) | 7.4% | 29 Oct 2026 | custom.resbank.co.za |
| Treasury bills - 273 day (tender rates) | 7.45% | 29 Oct 2026 | custom.resbank.co.za |
| Treasury bills - 364 day (tender rates) | 7.46% | 29 Oct 2026 | custom.resbank.co.za |
| NCD's - 3 months (closing rates) | 7.25% | 29 Oct 2026 | custom.resbank.co.za |
| NCD's - 6 months (closing rates) | 7.47% | 29 Oct 2026 | custom.resbank.co.za |
| NCD's - 12 months (closing rates) | 8.03% | 29 Oct 2026 | custom.resbank.co.za |
| Jibar - 3 months | 7.25% | 29 Oct 2026 | custom.resbank.co.za |
| 8.00% 2030 (R2030) (closing yields) | 8% | 29 Oct 2026 | custom.resbank.co.za |
| 6.25% 2036 (R209) (closing yields) | 8.675% | 29 Oct 2026 | custom.resbank.co.za |
| Sabor | 7.221% | 29 Oct 2026 | custom.resbank.co.za |
| Zaronia | 7.105% | 29 Oct 2026 | custom.resbank.co.za |
Official and market rates are context, not an offer from a named bank.
Recent rate changes
No rate changes recorded yet. Changes appear from the second day of capture.
Questions
What is the highest savings rate in South Africa today?
OM Bank (Old Mutual Bank) Savings Account at 7.23% effective, recorded by RateSonar on 1 Nov 2026 from the bank's own page. Conditions and eligibility apply; check with the bank.
How does RateSonar record these rates?
Twice a day, in South Africa business hours, RateSonar requests each bank's public rate page, honouring robots.txt and identifying itself. It keeps the exact bytes, reads every rate with a parser written for that page, and records the source URL, time and digest beside each figure.
Which banks are covered?
RateSonar has assessed 22 South Africa institutions. The coverage page lists every one, including banks that block automated access or publish no rates without a login, so a gap is visible rather than hidden.
Why are nominal and effective rates shown apart?
South African banks quote deposit rates either as a nominal annual rate (often compounded monthly) or as an effective annual rate. The two are not the same number, so RateSonar ranks each basis separately and never mixes them.
What is the current SARB repo (policy) rate?
7.25% as of 30 Oct 2026, from the official source. It is context for bank rates, not an offer from a bank.
Can I get this data in my AI assistant?
Yes. Add https://sarates.ratesonar.com/mcp as an MCP server (no sign-up), or read https://sarates.ratesonar.com/api/v1/rates.json. Every figure comes with its recorded date and source.