When was the last repo rate cut in SA?

The most recent repo rate cut was on July 31, 2025, when the South African Reserve Bank reduced the rate by 25 basis points to 7.00%, bringing the prime lending rate down to 10.50%. This marks the fifth consecutive interest rate cut since September 2024.

Recent rate-cutting cycle

We’re witnessing the most sustained rate-cutting cycle in years:

• September 2024: 8.25% to 8.00% (first cut in years).
• November 2024: 8.00% to 7.75%.
• January 2025: 7.75% to 7.50%.
• May 2025: 7.50% to 7.25%.
• July 31, 2025: 7.25% to 7.00%.

That’s a cumulative reduction of 1.25% in just 10 months – bringing rates to their lowest level since the COVID-19 pandemic.

Impact for homeowners

This rate-cutting cycle has delivered significant relief:

• Monthly savings: R415 less per month on a typical R550,000 home loan.
• Annual savings: Nearly R5,000 per year in reduced repayments.
• Better affordability: Thousands more South Africans now qualify for home loans.

With rates at historic lows and potential for further cuts, now is an exceptional time to buy property or refinance your existing bond.