What is the current prime interest rate in South Africa?
The current prime interest rate is 11.25%, as of November 2024.
The SARB (South African Reserve Bank) controls the repo rate (repurchase rate); the rate at which SARB lends to South African banks. This in turn determines the prime interest rate, and then the rate at which banks will lend to its customers.
The prime interest rate is the repo rate plus the amount added by the bank in order to ensure they make a profit on their loans.
