Prime Interest Rate History in South Africa

Current Prime Interest Rate = 9.0%

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South African Home Loans Interest Rates, since Jan 4 1999.
Mouse over the graph for more specific details and/or view the table below.


Loading Home Loan Interest Rate Graph


    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%      
    Contact Us:
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    email: olen@propertyloans.co.za


    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)