Prime Interest Rate in South Africa
| Latest Rates | |
|---|---|
| Prime * | 9.25% |
| Repo * | 5.75% |
| CPI * | 4.60% |
| PPI * | 3.60% |
| GDP * | 1.00% |
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| The Religion of Gold | |
The prime interest rate can go up and down over time, usually in correlation with the repo rate. When the prime rate changes, the interest rate banks charge on loans to their clients also change (except for fixed interest rate loans).
When granting higher risk loans, a bank will charge a higher interest rate (e.g. prime plus three), while for lower risk loans the bank will charge a lower interest rate (e.g. prime minus two).
Historically the prime interest rate was the rate of interest at which banks lent to favored (low risk) customers, i.e., those with high credibility. However, this is no longer the case, since it is now possible to get loans from banks at below the prime interest rate.
This page shows the current prime interest rate, as well as a graph and table of the prime interest rates in South Africa, since 1948.
The prime interest rate was last updated on 18 July 2014. The current prime interest rate is 9.25%.
Prime Interest Rate History
The following table shows the historical prime interest rates in South Africa, since 1948.
| Historical Prime Interest Rates | |
|---|---|
| 2014-07-18 | 9.25% |
| 2014-01-29 | 9.00% |
| 2012-07-19 | 8.50% |
| 2010-11-18 | 9.00% |
| 2010-09-09 | 9.50% |
| 2010-03-25 | 10.00% |
| 2009-08-13 | 10.50% |
| 2009-05-28 | 11.00% |
| 2009-05-04 | 12.00% |
| 2009-03-25 | 13.00% |
| 2009-02-06 | 14.00% |
| 2008-12-12 | 15.00% |
| 2008-06-13 | 15.50% |
| 2008-04-11 | 15.00% |
| 2007-12-07 | 14.50% |
| 2007-10-12 | 14.00% |
| 2007-08-17 | 13.50% |
| 2007-06-08 | 13.00% |
| 2006-12-08 | 12.50% |
| 2006-10-13 | 12.00% |
| 2006-08-03 | 11.50% |
| 2006-06-08 | 11.00% |
| 2005-04-15 | 10.50% |
| 2004-08-16 | 11.00% |
| 2003-12-15 | 11.50% |
| 2003-10-20 | 12.00% |
| 2003-09-11 | 13.50% |
| 2003-08-15 | 14.50% |
| 2003-06-13 | 15.50% |
| 2002-09-16 | 17.00% |
| 2002-06-14 | 16.00% |
| 2002-03-18 | 15.00% |
| 2002-01-16 | 14.00% |
| 2001-09-25 | 13.00% |
| 2001-07-16 | 13.50% |
| 2001-06-18 | 13.75% |
| 2000-01-24 | 14.50% |
| 1999-10-04 | 15.50% |
| 1999-08-08 | 16.50% |
| 1999-07-14 | 17.50% |
| 1999-06-25 | 18.00% |
| 1999-04-19 | 19.00% |
| 1999-03-08 | 20.00% |
| 1999-02-12 | 21.00% |
| 1999-01-11 | 22.00% |
| 1998-12-07 | 23.00% |
| 1998-11-09 | 23.50% |
| 1998-10-19 | 24.50% |
| 1998-08-31 | 25.50% |
| 1998-07-04 | 24.00% |
| 1998-06-30 | 22.25% |
| 1998-06-11 | 20.25% |
| 1998-03-09 | 18.25% |
| 1997-10-21 | 19.25% |
| 1996-11-21 | 20.25% |
| 1996-10-01 | 19.25% |
| 1996-07-01 | 19.50% |
| 1996-05-20 | 20.50% |
| 1996-04-29 | 19.50% |
| 1995-07-03 | 18.50% |
| 1995-02-22 | 17.50% |
| 1994-09-26 | 16.25% |
| 1993-11-01 | 15.25% |
| 1993-02-22 | 16.25% |
| 1992-11-23 | 17.25% |
| 1992-07-06 | 18.25% |
| 1992-04-01 | 19.25% |
| 1991-10-01 | 20.25% |
| 1991-04-02 | 20.00% |
| 1989-10-11 | 21.00% |
| 1989-05-08 | 20.00% |
| 1989-02-28 | 19.00% |
| 1988-11-03 | 18.00% |
| 1988-07-29 | 16.00% |
| 1988-05-05 | 15.00% |
| 1988-03-10 | 14.00% |
| 1988-01-21 | 13.00% |
| 1987-01-24 | 12.50% |
| 1986-12-24 | 12.00% |
| 1986-09-20 | 13.50% |
| 1986-08-23 | 14.00% |
| 1986-05-05 | 14.50% |
| 1986-01-24 | 15.50% |
| 1985-11-25 | 16.50% |
| 1985-11-04 | 17.50% |
| 1985-10-07 | 18.50% |
| 1985-09-02 | 19.50% |
| 1985-07-10 | 21.00% |
| 1985-06-24 | 22.00% |
| 1985-05-27 | 23.00% |
| 1985-05-06 | 24.00% |
| 1985-01-08 | 25.00% |
| 1984-12-17 | 24.00% |
| 1984-11-19 | 23.00% |
| 1984-08-04 | 25.00% |
| 1984-07-17 | 22.00% |
| 1984-03-23 | 21.00% |
| 1983-12-24 | 20.00% |
| 1983-12-14 | 19.50% |
| 1983-11-23 | 19.00% |
| 1983-08-15 | 18.00% |
| 1983-08-08 | 17.00% |
| 1983-06-24 | 16.00% |
| 1983-06-13 | 15.00% |
| 1983-03-07 | 14.00% |
| 1983-02-16 | 16.00% |
| 1983-01-24 | 17.00% |
| 1982-11-22 | 18.00% |
| 1982-11-01 | 19.00% |
| 1982-03-04 | 20.00% |
| 1982-02-26 | 19.00% |
| 1982-02-18 | 18.00% |
| 1981-12-17 | 17.00% |
| 1981-07-21 | 16.00% |
| 1981-06-24 | 14.00% |
| 1981-05-06 | 13.00% |
| 1981-03-24 | 11.50% |
| 1981-02-09 | 11.00% |
| 1981-01-24 | 10.00% |
| 1979-08-16 | 9.50% |
| 1979-03-24 | 10.00% |
| 1979-02-12 | 11.00% |
| 1978-09-15 | 11.50% |
| 1978-08-24 | 12.00% |
| 1976-06-22 | 12.50% |
| 1975-10-01 | 12.00% |
| 1975-08-11 | 11.50% |
| 1975-07-15 | 11.00% |
| 1974-10-07 | 12.00% |
| 1974-08-01 | 11.00% |
| 1974-06-01 | 10.00% |
| 1974-02-01 | 9.00% |
| 1973-11-15 | 8.00% |
| 1973-07-16 | 7.50% |
| 1973-04-16 | 8.00% |
| 1972-08-19 | 8.50% |
| 1971-05-01 | 9.00% |
| 1970-09-15 | 8.50% |
| 1968-09-10 | 8.00% |
| 1967-07-01 | 8.50% |
| 1966-07-15 | 8.00% |
| 1965-03-08 | 7.00% |
| 1964-12-12 | 6.50% |
| 1964-07-24 | 6.00% |
| 1962-12-01 | 5.50% |
| 1962-07-01 | 6.00% |
| 1962-01-01 | 6.50% |
| 1961-05-15 | 7.00% |
| 1960-08-19 | 6.50% |
| 1959-01-22 | 6.00% |
| 1958-06-01 | 6.50% |
| 1955-10-01 | 6.00% |
| 1952-04-01 | 5.50% |
| 1949-10-17 | 5.00% |
| 1948-12-31 | 4.50% |
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