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What is an interest rate?

An interest rate is what the bank charges over and above the cost of the loan itself.

Basically, the interest rate is what the bank is charging for the risk of lending to you.

Your interest rate will be determined by

  • The national interest rate (known as the prime lending rate), which is determined by the South African Reserve Bank.
  • How much of a risk the bank considers you to be. This is based on their assessment of your credit record.

You can obtain lower interest rates by applying with ooba Home Loans. We submit your application to multiple banks so you can compare the deals they offer and choose the one with the lowest interest rates.

Get prequalified for a home loan today

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Average rating of 4.86 from over 4 550 reviews

Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

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Excellent Service

Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

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Bond Application

Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

Butana M

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