Current Prime Interest Rate = 9.0%
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Mouse over the graph for more specific details and/or view the table below.
Loading Home Loan Interest Rate Graph
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Prime Interest Rates
South African Home Loans Interest Rates, since Jan 4 1999.
25 Mar 10 | 10.00% | 20 Aug 07 | 13.50% | 15 Aug 03 | 14.50% | 16 Aug 99 | 16.50% | |||
14 Aug 09 | 10.50% | 11 Jun 07 | 13.00% | 13 Jun 03 | 15.50% | 14 Jul 99 | 17.50% | |||
28 May 09 | 11.00% | 11 Dec 06 | 12.50% | 13 Sep 02 | 17.00% | 02 Jul 99 | 18.00% | |||
04 May 09 | 12.00% | 13 Oct 06 | 12.00% | 14 Jun 02 | 16.00% | 03 May 99 | 19.00% | |||
24 Mar 09 | 13.00% | 03 Aug 06 | 11.50% | 18 Mar 02 | 15.00% | 02 Apr 99 | 20.00% | |||
06 Feb 09 | 14.00% | 12 Jun 06 | 11.00% | 16 Jan 02 | 14.00% | 02 Mar 99 | 21.00% | |||
12 Dec 08 | 15.00% | 18 Apr 05 | 10.50% | 01 Oct 01 | 13.00% | 02 Feb 99 | 22.00% | |||
13 Jun 08 | 15.50% | 16 Aug 04 | 11.00% | 16 Jul 01 | 13.50% | 04 Jan 99 | 22.75% | |||
11 Apr 08 | 15.00% | 15 Dec 03 | 11.50% | 18 Jun 01 | 13.75% | |||||
07 Dec 07 | 14.50% | 20 Oct 03 | 12.00% | 01 Feb 00 | 14.50% | |||||
15 Oct 07 | 14.00% | 15 Sept 03 | 13.50% | 04 Oct 99 | 15.50% |
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Contact Us:
ph : 087 625 0590
fax: 086 681 1190
email: olen@propertyloans.co.za
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How does the Prime Interest Rate in South Africa affect my bond?:
For a bond of R1mil over 20yrs, a 1% movement in the prime rate would equate to a R688 change in your monthly bond instalment.
While, on a bond of R750k over 20yrs, a 1% movement in the prime rate would equate to a R516 change in your monthly bond instalment.
Fixed Rate vs Variable Rate:
The interest rate on a fixed rate homeloan does not change. The advantage of this type of mortgage is that you are protected from rate increases and your monthly payments are consistent.
The disadvantage is that you will not benefit when the prime rate is dropping.
Fixed rate will usually be slightly higher than the prime rate at the time of your application.
Repo Rate vs Prime:
The Repo rate (repurchase rate)is the rate at which the reserve bank lends rands to our local banks.
This rate is usually 3.5% lower than the current prime rate.
Jibar Rate vs Prime:
The Jibar rate (jhb interbank agreed rate), is used by SA HOME LOANS. While, the Prime rate is used by the Major Banks (STD, ABSA, FNB and Nedbank)