Prime rate in South Africa
10,75 %
Effective from:
Previous value: 10,50 % (29 May 2026)
in force on 14 Oct 2026
Over time: Prime lending rate
History of changes
| Effective from | Value |
|---|---|
| 10,75 % | |
| 10,50 % | |
| 10,25 % | |
| 10,50 % | |
| 10,75 % | |
| 11,00 % | |
| 11,25 % | |
| 11,50 % | |
| 11,75 % | |
| 11,25 % | |
| 10,75 % | |
| 10,50 % |
Show 19 earlier changes
| Effective from | Value |
|---|---|
| 9,75 % | |
| 9,00 % | |
| 8,25 % | |
| 7,75 % | |
| 7,50 % | |
| 7,25 % | |
| 7,00 % | |
| 7,25 % | |
| 7,75 % | |
| 8,75 % | |
| 9,75 % | |
| 10,00 % | |
| 10,25 % | |
| 10,00 % | |
| 10,25 % | |
| 10,50 % | |
| 10,25 % | |
| 9,75 % | |
| 9,50 % |
What the prime rate is and when it changes
The prime lending rate is the reference rate that many South African loan agreements are linked to. A variable-rate home loan or vehicle finance agreement often states your rate as prime plus or minus a margin, so when prime moves, your rate moves with it.
Banks do not change prime on their own. Since 2001 it has been set at a fixed 350 basis points above the SARB policy rate (the repo rate), so it changes only when the SARB's Monetary Policy Committee changes the repo rate. Each change applies from the effective date the SARB gives for it. The dates of the next announcements are on the repo rate page.
How a change in prime moves your repayment
On a R1 000 000 home loan repaid over 20 years, each 0,25 percentage point change in the rate moves the monthly instalment by about R160 to R180 when the rate is between 9 % and 13 %. This is our calculation with the standard instalment formula, before fees and insurance. Your bank recalculates the instalment from the effective date of the new prime.
To check a specific amount and term, use the loan calculator. Lenders and their loan costs are compared on the loans in South Africa page.