Comments on: Prime Interest Rate History in South Africa

By: zephy

zephy — Tue, 24 Apr 2012 19:22:58 +0000

Why is there an average of 3%gap between the repo and prime rate?

By: zephy

zephy — Tue, 24 Apr 2012 19:20:31 +0000

The prime rate is 9% and the repo rate is usually minus 3%.Why so much gap by the banks.

By: aobakwe

aobakwe — Mon, 17 Oct 2011 09:59:01 +0000

What an informative site, great work.

Can someone explain the difference between lodging a bond and bond registration?
And would the convenient date be for bond registration in order for one to avoid paying first installment the same month of registration?

Thanks

By: Sharon

Sharon — Thu, 08 Sep 2011 23:22:34 +0000

hi
i am in the process of buying second property the property cost 350 000 and the bank nedbank want to charge me variable prime link interest of 15.6%. does that sound correct my total interest comes to 793 520.13. please help.

By: niren

niren — Mon, 29 Aug 2011 19:29:08 +0000

Hi,

My current bond repayment is prime less 1.59%. I have enquired from my bank quotes on fixing my rate and the gave my a quote of prime for the next 5 years. Do you think it is wise to fix my rate or should I leave it a prime less 1.59%?

By: chandre

chandre — Fri, 26 Aug 2011 19:08:25 +0000

What a GREAT website! I have been struggling for months on 100 different websites to get info and general knowledge on purchasing a home, here I can equip myself not to make mistakes other people are making, and to make well informed discussions. Even if its a R500 that can be saved each month but at the same time paying my bond off effectively ever cent should be valued in theses days! KEEP UP THE GOOD WORK.

By: Bev

Bev — Wed, 20 Apr 2011 09:21:06 +0000

@Sheldon, check the period for your fixed rate. I know in earlier years (when the int rates were high) I could only fix for a period of 2years at a time. Perhaps there is a stage when you can re-negotiate your terms. Check with your bank / bond holder.

By: Loan

Loan — Mon, 04 Apr 2011 09:06:27 +0000

Hi Sheldon – commiserations. A very frustrating situation you’re in. I suspect that the contract will be binding until such a time as you pay off the bond. I’d see if I could raise another bond on the propery / get some bridging finance and then close down the original bond. As interest rates are set to rise, I’d the consider getting into another fixed rate deal, but one that starts at a lower base.

By: Sheldon

Sheldon — Wed, 02 Mar 2011 13:03:46 +0000

Hi i purchased a home in 2007 and at the time was advised that it would be feesible to fix the interest rate at 13%.Well now im paying R8000 per month when i could be paying 6K per month.Got the bond with Absa.Any idea or assistance that would help me rectify the error would be appreciated.Thanks Sheldon 0720235672

By: awie fourie

awie fourie — Tue, 15 Feb 2011 16:56:16 +0000

bou kontant en leef kontant dinge gaan verander bankkoste en rente is al wat en waarmee geld gein kan word vir banke