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South African interest rates today: prime, repo and JIBAR

The prime lending rate and the SARB policy rate, better known as the repo rate, head the table below with the date each one took effect. Many loan agreements in South Africa are linked to prime, so when these rates change, repayments change too. The table also lists JIBAR, SABOR, ZARONIA and Treasury bill rates. Every value comes from the South African Reserve Bank.

RateValueDate
Prime lending rateSouth African Reserve Bank10,75 %Effective from 25 Sep 2026Effective from
SARB Policy RateSouth African Reserve Bank7,25 %Effective from 25 Sep 2026Effective from
Jibar - 3 monthsSouth African Reserve Bank7,24 %As of 13 Oct 2026As of
SaborSouth African Reserve Bank7,192 %As of 13 Oct 2026As of
ZaroniaSouth African Reserve Bank7,094 %As of 13 Oct 2026As of
Treasury bills - 182 day (tender rates)South African Reserve Bank7,47 %As of 13 Oct 2026As of
Treasury bills - 273 day (tender rates)South African Reserve Bank7,54 %As of 13 Oct 2026As of
Treasury bills - 364 day (tender rates)South African Reserve Bank7,53 %As of 13 Oct 2026As of
Treasury bills - 91 day (tender rates)South African Reserve Bank7,14 %As of 13 Oct 2026As of

How the prime rate follows the repo rate

Since 2001 prime has been an administrative rate set at a fixed 350 basis points above the SARB policy rate, according to the SARB. When the Monetary Policy Committee raises or cuts the repo rate, prime moves by the same amount and from the same date. You can see it in the history of both rates: every change has the same effective date and the gap between them stays the same.

This link may change. In 2026 the SARB published a consultation paper proposing to discontinue prime and use the SARB policy rate as the reference rate for prime-linked contracts. It expects the switch only after JIBAR is retired, with fallback wording in new contracts and legal protection for existing ones. Comments were due by 20 Mar 2026.

For the latest values and history, see the prime rate today and the repo rate today. To see what a rate change means for a loan, use the loan calculator.