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Highest savings account rate: 7.23% effective

11 offers from 2 institutions · Savings and call accounts. South African banks quote nominal or effective annual rates; each is ranked apart.

Highest effective

7.23%
OM Bank (Old Mutual Bank)
Savings Account

recorded 2026-11-01 · source ↗

11 offers2 institutionsmedian 6.75%

Spread of recorded rates

5.10%5.40%5.70%6.00%6.30%6.60%6.90%7.20%
01
OM Bank (Old Mutual Bank)
Savings Account
Savings · View at bank ↗
7.23 % effectiverecorded 2026-11-01
02
FNB
Money on Call
Savings · R100 000+ · View at bank ↗
6.86 % effectiverecorded 2026-11-01
03
FNB
Money on Call
Savings · R70 000 - R79 999 · View at bank ↗
6.80 % effectiverecorded 2026-11-01
04
FNB
Money on Call
Savings · R80 000 - R89 999 · View at bank ↗
6.80 % effectiverecorded 2026-11-01
05
FNB
Money on Call
Savings · R90 000 - R99 999 · View at bank ↗
6.80 % effectiverecorded 2026-11-01
06
FNB
Money on Call
Savings · R50 000 - R59 999 · View at bank ↗
6.75 % effectiverecorded 2026-11-01
07
FNB
Money on Call
Savings · R60 000 - R69 999 · View at bank ↗
6.75 % effectiverecorded 2026-11-01
08
FNB
Money on Call
Savings · R20 000 - R29 999 · View at bank ↗
6.70 % effectiverecorded 2026-11-01
09
FNB
Money on Call
Savings · R30 000 - R39 999 · View at bank ↗
6.70 % effectiverecorded 2026-11-01
10
FNB
Money on Call
Savings · R40 000 - R49 999 · View at bank ↗
6.70 % effectiverecorded 2026-11-01
11
FNB
Money on Call
Savings · R5 000 - R19 999 · View at bank ↗
5.12 % effectiverecorded 2026-11-01

Quoted on another basis

These rates are quoted as rate, nominal, expected profit, so they are not ranked against effective.

01
TymeBank
GoalSave
Savings · bonus: 10 days' notice before closing, no transfer-out history · bonus · View at bank ↗
10 % raterecorded 2026-11-01
02
GBS Mutual Bank
Indefinite Period Paid-Up Shares
Savings · half-yearly interest · View at bank ↗
8.30 % nominalrecorded 2026-11-01
03
GBS Mutual Bank
Subscription Shares
Savings · yearly interest · View at bank ↗
8.30 % nominalrecorded 2026-11-01
04
GBS Mutual Bank
Indefinite Period Paid-Up Shares
Savings · monthly interest · View at bank ↗
8.16 % nominalrecorded 2026-11-01
05
Absa
Islamic TargetSave
Savings · R25,000,000 - R49,999,999.99 · total rate · bonus · View at bank ↗
7.95 % expected profitrecorded 2026-11-01
06
Absa
Islamic TargetSave
Savings · R50,000,000 + · total rate · bonus · View at bank ↗
7.95 % expected profitrecorded 2026-11-01
07
Absa
Islamic TargetSave
Savings · R10,000,000 - R24,999,999.99 · total rate · bonus · View at bank ↗
7.90 % expected profitrecorded 2026-11-01
08
Absa
Islamic Depositor Plus
Savings · R25,000,000 + · total rate · bonus · View at bank ↗
7.85 % expected profitrecorded 2026-11-01
09
Absa
Absa Instant Savings
Savings · R10,000,000 - R24,999,999.99 · standard rate · View at bank ↗
7.75 % raterecorded 2026-11-01
10
Absa
Absa Instant Savings
Savings · R10,000,000 - R24,999,999.99 · total rate · bonus · View at bank ↗
7.75 % raterecorded 2026-11-01
11
Absa
Absa Instant Savings
Savings · R25,000,000 + · standard rate · View at bank ↗
7.75 % raterecorded 2026-11-01
12
Absa
Absa Instant Savings
Savings · R25,000,000 + · total rate · bonus · View at bank ↗
7.75 % raterecorded 2026-11-01
13
Absa
Cash Invest Tracker
Savings · R12,500,000.01 + · standard rate · View at bank ↗
7.75 % raterecorded 2026-11-01
14
Absa
Islamic Depositor Plus
Savings · R10,000,000 - R24,999,999.99 · total rate · bonus · View at bank ↗
7.70 % expected profitrecorded 2026-11-01
15
Absa
Islamic TargetSave
Savings · R1,000,000 - R9,999,999.99 · total rate · bonus · View at bank ↗
7.70 % expected profitrecorded 2026-11-01
16
Absa
Islamic TargetSave
Savings · R25,000,000 - R49,999,999.99 · standard rate · View at bank ↗
7.70 % expected profitrecorded 2026-11-01
17
Absa
Islamic TargetSave
Savings · R50,000,000 + · standard rate · View at bank ↗
7.70 % expected profitrecorded 2026-11-01
18
Absa
Islamic TargetSave
Savings · R10,000,000 - R24,999,999.99 · standard rate · View at bank ↗
7.65 % expected profitrecorded 2026-11-01
19
Absa
Islamic Depositor Plus
Savings · R25,000,000 + · standard rate · View at bank ↗
7.60 % expected profitrecorded 2026-11-01
20
Absa
Absa Instant Savings
Savings · R100,000 – R249,999.99 · standard rate · View at bank ↗
7.55 % raterecorded 2026-11-01
21
Absa
Absa Instant Savings
Savings · R100,000 – R249,999.99 · total rate · bonus · View at bank ↗
7.55 % raterecorded 2026-11-01
22
Absa
Absa Instant Savings
Savings · R250 000 – R999 999.99 · standard rate · View at bank ↗
7.55 % raterecorded 2026-11-01
23
Absa
Absa Instant Savings
Savings · R250 000 – R999 999.99 · total rate · bonus · View at bank ↗
7.55 % raterecorded 2026-11-01
24
Absa
Absa Instant Savings
Savings · R1 000 000 – R9 999,999.99 · standard rate · View at bank ↗
7.55 % raterecorded 2026-11-01
25
Absa
Absa Instant Savings
Savings · R1 000 000 – R9 999,999.99 · total rate · bonus · View at bank ↗
7.55 % raterecorded 2026-11-01
26
Absa
Cash Invest Tracker
Savings · R100 000.00 - R12,500,000.00 · standard rate · View at bank ↗
7.55 % raterecorded 2026-11-01
27
Absa
Islamic TargetSave
Savings · R250,000 - R999,999.99 · total rate · bonus · View at bank ↗
7.51 % expected profitrecorded 2026-11-01
28
Absa
Islamic Depositor Plus
Savings · R10,000,000 - R24,999,999.99 · standard rate · View at bank ↗
7.45 % expected profitrecorded 2026-11-01
29
Absa
Islamic TargetSave
Savings · R1,000,000 - R9,999,999.99 · standard rate · View at bank ↗
7.45 % expected profitrecorded 2026-11-01
30
Absa
Islamic Depositor Plus
Savings · R1,000,000 - R9,999,999.99 · total rate · bonus · View at bank ↗
7.30 % expected profitrecorded 2026-11-01
31
Absa
Islamic TargetSave
Savings · R50,000 - R249,999.99 · total rate · bonus · View at bank ↗
7.28 % expected profitrecorded 2026-11-01
32
Absa
Islamic TargetSave
Savings · R250,000 - R999,999.99 · standard rate · View at bank ↗
7.26 % expected profitrecorded 2026-11-01
33
Absa
Islamic Depositor Plus
Savings · R250,000 - R999,999.99 · total rate · bonus · View at bank ↗
7.25 % expected profitrecorded 2026-11-01
34
Absa
Islamic TargetSave
Savings · R25,000 - R49,999.99 · total rate · bonus · View at bank ↗
7.18 % expected profitrecorded 2026-11-01
35
Absa
Islamic Depositor Plus
Savings · R100,000 - R249,999.99 · total rate · bonus · View at bank ↗
7.10 % expected profitrecorded 2026-11-01
36
Absa
Islamic Depositor Plus
Savings · R75,000 - R99,999.99 · total rate · bonus · View at bank ↗
7.05 % expected profitrecorded 2026-11-01
37
Absa
Islamic Depositor Plus
Savings · R1,000,000 - R9,999,999.99 · standard rate · View at bank ↗
7.05 % expected profitrecorded 2026-11-01
38
Absa
Cash Invest Tracker
Savings · R0.01 - 99,999.99 · standard rate · View at bank ↗
7.05 % raterecorded 2026-11-01
39
Absa
Islamic TargetSave
Savings · R50,000 - R249,999.99 · standard rate · View at bank ↗
7.03 % expected profitrecorded 2026-11-01
40
Absa
Islamic Depositor Plus
Savings · R250,000 - R999,999.99 · standard rate · View at bank ↗
7.00 % expected profitrecorded 2026-11-01
41
Absa
Absa Instant Savings
Savings · R75,000 – R99,999.99 · total rate · bonus · View at bank ↗
7.00 % raterecorded 2026-11-01
42
Absa
Islamic Depositor Plus
Savings · R25,000 - R74,999.99 · total rate · bonus · View at bank ↗
6.95 % expected profitrecorded 2026-11-01
43
Absa
Islamic TargetSave
Savings · R25,000 - R49,999.99 · standard rate · View at bank ↗
6.93 % expected profitrecorded 2026-11-01
44
Absa
Absa Instant Savings
Savings · R25,000 – R74,999.99 · total rate · bonus · View at bank ↗
6.90 % raterecorded 2026-11-01
45
Absa
Islamic Depositor Plus
Savings · R100,000 - R249,999.99 · standard rate · View at bank ↗
6.85 % expected profitrecorded 2026-11-01
46
Absa
Islamic Depositor Plus
Savings · R75,000 - R99,999.99 · standard rate · View at bank ↗
6.80 % expected profitrecorded 2026-11-01
47
Absa
Investment Club
Savings · R50,000 - R99,999.99 · View at bank ↗
6.80 % raterecorded 2026-11-01
48
Absa
Investment Club
Savings · R100,000+ · View at bank ↗
6.80 % raterecorded 2026-11-01
49
Absa
Islamic Depositor Plus
Savings · R25,000 - R74,999.99 · standard rate · View at bank ↗
6.70 % expected profitrecorded 2026-11-01
50
Absa
Investment Club
Savings · R25,000 - R49,999.99 · View at bank ↗
6.70 % raterecorded 2026-11-01
51
Absa
Absa Instant Savings
Savings · R75,000 – R99,999.99 · standard rate · View at bank ↗
6.60 % raterecorded 2026-11-01
52
Absa
Islamic TargetSave
Savings · R1,000 - R24,999.99 · total rate · bonus · View at bank ↗
6.50 % expected profitrecorded 2026-11-01
53
Absa
Absa Instant Savings
Savings · R25,000 – R74,999.99 · standard rate · View at bank ↗
6.50 % raterecorded 2026-11-01
54
Bank Zero
Savings
Savings · ≥ R1m · View at bank ↗
6.50 % raterecorded 2026-11-01
55
Bank Zero
Savings
Savings · ≥ R500k · View at bank ↗
6.45 % raterecorded 2026-11-01
56
Bank Zero
Savings
Savings · ≥ R100k · View at bank ↗
6.40 % raterecorded 2026-11-01
57
Absa
Islamic TargetSave
Savings · R1,000 - R24,999.99 · standard rate · View at bank ↗
6.25 % expected profitrecorded 2026-11-01
58
Absa
Investment Club
Savings · R10,000 - R24,999.99 · View at bank ↗
6.25 % raterecorded 2026-11-01
59
Bank Zero
Savings
Savings · ≥ R50k · View at bank ↗
6.25 % raterecorded 2026-11-01
60
Absa
Islamic Depositor Plus
Savings · R15,000 - R24,999.99 · total rate · bonus · View at bank ↗
6.20 % expected profitrecorded 2026-11-01
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Questions

What is the best savings account rate in South Africa right now?

OM Bank (Old Mutual Bank) Savings Account at 7.23% effective, recorded 1 Nov 2026. RateSonar compared 11 offers from 2 institutions on the same basis.

Are these rates current?

Each row shows the date RateSonar last recorded it from the bank's page. Pages are captured twice a day; a row that could not be refreshed keeps its last recorded date and drops out of the ranking after three days.