FNB Fixed Deposit Calculator

What is FNB's current fixed deposit rate?

FNB's indicative 12-month fixed deposit rate for retail investors (R50,000+ deposit) is around 8.75% per year as of April 2026. Shorter terms (3–6 months) earn less, typically 7.5–8.0%. Longer terms (24–60 months) can reach 9.0–9.5%. Exact rates depend on the deposit size and term chosen — log into the FNB app or contact your branch for a personalised quote.

Can I break a FNB fixed deposit early?

Standard FNB fixed deposits are not callable before maturity without penalty. If you break early, FNB typically charges a penalty equivalent to 3 months' interest or returns interest at a reduced rate. FNB's 'Notice' product (32-day or 90-day notice) offers more flexibility — you give notice to access funds — but earns a slightly lower rate than a true fixed deposit. If you might need the money, consider the notice product or keep a separate emergency fund.

Can I get a FNB fixed deposit without an FNB account?

You need a transactional FNB account to open an FNB fixed deposit — the FD is linked to it for interest payouts and principal return at maturity. Existing FNB clients can open one digitally in minutes. If you bank elsewhere, you'd need to open an FNB account first (free to open, no minimum balance), which takes about 5 minutes online.

Is the FNB monthly payout option worth it?

The monthly payout option pays interest to your FNB account each month instead of adding it to your balance. It's worth choosing if you need the income (retirees using FDs as income generators, for example). If you don't need the income, the maturity (capitalised) option is better — you earn interest on your interest each month, producing a higher effective yield over the term. The calculator above shows the difference: toggle between the two modes to compare.

How is FNB fixed deposit interest taxed?

Interest earned on an FNB fixed deposit is added to your taxable income and taxed at your marginal rate. There's an annual exemption of R23,800 (R34,500 if you're 65+) that applies across all your interest-earning accounts combined. FNB issues an IT3(b) certificate after each tax year — use it to declare your interest on your SARS eFiling return. FNB does not withhold tax at source for SA residents.