Prime interest rate in South Africa
The prime lending rate is 10.75% and the SARB repo rate is 7.25%, unchanged since September 2026. Prime is always the repo rate plus 3.5 percentage points. The Monetary Policy Committee next decides on 19 November 2026.
SA interest rates today
SARB, 6 November 2026Prime and repo rate history
Last ten years shownWhat a 0.25% move does to your bond
Monthly repayment on a 20 year home loan at prime, and the change if prime moves a quarter point either way.
| Loan | At 10.75% | Cut to 10.50% | Hike to 11.00% |
|---|---|---|---|
| R750 000 | R7 614 | −R126 | +R127 |
| R1 000 000 | R10 152 | −R168 | +R170 |
| R1 500 000 | R15 228 | −R253 | +R254 |
| R2 000 000 | R20 305 | −R337 | +R339 |
Next rate decision
- Last decision
- 23 September 2026, raised to 7.25%
- Last change
- 25 September 2026, +0.25 to 7.25%
- Decisions a year
- 6
Every change since 2016
Dated the day the new rate took effect, which is the day after the announcement. The chart above runs back to 31 December 2001.
| Effective | Change | Repo | Prime |
|---|---|---|---|
| 25 September 2026 | +0.25 | 7.25% | 10.75% |
| 29 May 2026 | +0.25 | 7.00% | 10.50% |
| 21 November 2025 | −0.25 | 6.75% | 10.25% |
| 1 August 2025 | −0.25 | 7.00% | 10.50% |
| 30 May 2025 | −0.25 | 7.25% | 10.75% |
| 31 January 2025 | −0.25 | 7.50% | 11.00% |
| 22 November 2024 | −0.25 | 7.75% | 11.25% |
| 20 September 2024 | −0.25 | 8.00% | 11.50% |
| 26 May 2023 | +0.50 | 8.25% | 11.75% |
| 31 March 2023 | +0.50 | 7.75% | 11.25% |
| 27 January 2023 | +0.25 | 7.25% | 10.75% |
| 25 November 2022 | +0.75 | 7.00% | 10.50% |
| 23 September 2022 | +0.75 | 6.25% | 9.75% |
| 22 July 2022 | +0.75 | 5.50% | 9.00% |
| 20 May 2022 | +0.50 | 4.75% | 8.25% |
| 25 March 2022 | +0.25 | 4.25% | 7.75% |
| 28 January 2022 | +0.25 | 4.00% | 7.50% |
| 19 November 2021 | +0.25 | 3.75% | 7.25% |
| 24 July 2020 | −0.25 | 3.50% | 7.00% |
| 22 May 2020 | −0.50 | 3.75% | 7.25% |
| 15 April 2020 | −1.00 | 4.25% | 7.75% |
| 20 March 2020 | −1.00 | 5.25% | 8.75% |
| 17 January 2020 | −0.25 | 6.25% | 9.75% |
| 19 July 2019 | −0.25 | 6.50% | 10.00% |
| 23 November 2018 | +0.25 | 6.75% | 10.25% |
| 29 March 2018 | −0.25 | 6.50% | 10.00% |
| 21 July 2017 | −0.25 | 6.75% | 10.25% |
| 18 March 2016 | +0.25 | 7.00% | 10.50% |
| 29 January 2016 | +0.50 | 6.75% | 10.25% |
Questions
What is the prime lending rate in South Africa today?
10.75%, in force since 25 September 2026. Banks price home loans, vehicle finance and overdrafts relative to prime, for example prime minus 0.5% or prime plus 1%, so the figure on your statement is this rate plus or minus your margin.
What is the difference between the repo rate and the prime rate?
The repo rate is what the South African Reserve Bank charges commercial banks, and it is the rate the Monetary Policy Committee sets. Prime is what the banks charge their best customers. It has sat 3.5 percentage points above the repo rate throughout this series, so it moves the same day the repo rate does: 7.25% repo means 10.75% prime.
When is the next interest rate decision?
19 November 2026. The MPC meets six times a year and announces its decision at 15:00; a change takes effect the following day.
How much does a 0.25% change add to a bond repayment?
About R170 a month on a R1 000 000 home loan over 20 years at the current prime rate, and about R339 a month on R2 000 000. A cut of the same size takes roughly the same amount off. Your bank quotes prime plus or minus a margin, so run your own figure on the bond repayment calculator.
Why would the Reserve Bank raise rates when the US does?
If US rates rise and South African rates do not, the gap between them narrows, holding rand assets pays less by comparison, capital tends to leave and the rand weakens. A weaker rand pushes up the price of fuel and imported goods, which is inflation by another route, so the MPC weighs the US decision even though it does not have to follow it.
TradeIntel is an information publisher, not a licensed financial services provider. The rates on this page are the published South African Reserve Bank rates; what your bank charges depends on your loan agreement. General information, not advice.