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Newsflash: SA Reserve Bank Increase The Prime Lending Rate To 7.50%

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Newsflash: SA Reserve Bank Increase The Prime Lending Rate To 7.50%

The Reserve Bank's Monetary Policy Committee has voted in favour of another 0.25% interest rate hike today. This brings that the prime lending rate is now 7.5%.  Despite the increase, this still remains a competitive interest rate when compared to interest rates pre-Covid. 

On a bond of R2 million at the prime interest rate, this means a monthly increase of approximately R300pm.

Author Miltons Matsemela Inc. Attorneys
Published 27 Jan 2022 / Views -
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