How the most recent interest rate cut will affect your pocket.

The South African Reserve Bank cut interest rates by 0.5% last month (sept) to bring the prime rate down to 9.5%.

The cut was welcomed by many consumers and homeowners. A drop of 0.5% could translate to a huge saving over the full term of your bond. While, in the short term, it means more consumers are now better able to manage their monthly debt commitments.

Here’s how the most recent rate cut will affect your pocket…