Historical Prime & Repo Rates
Track how South Africa's prime lending rate and SARB repo rate have changed since 2002. The prime rate affects home loans, personal loans, and other credit products.
The repo rate is the SARB's policy rate. Prime rate is typically repo rate + 3.5%.
Next announcement is on Thursday afternoon (±15:30), 27 November 2025.
Prime & Repo Rates Over Time
Interactive chart showing prime lending rate (yellow) and SARB repo rate (blue) from 2002 to present. These step-like charts show how rates change when the SARB Monetary Policy Committee makes announcements, typically every two months.
Prime Rate Since 2024
A closer look at prime and repo rates since the beginning of 2024. This period has seen significant rate changes as the SARB responded to inflation trends and economic conditions.
What is the Prime Rate?
The prime lending rate is the interest rate that banks charge their most creditworthy customers. Most variable-rate loans (like home loans) are calculated as prime plus a margin. For example, if prime is 10.25% and your loan is "prime + 2%", you'd pay 12.25%.
Why Does it Change?
The prime rate typically changes when the South African Reserve Bank (SARB) adjusts the repo rate. Banks usually increase their prime rate by the same amount. The SARB changes rates to control inflation and manage economic growth.
When are SARB decisions announced?
The SARB Monetary Policy Committee announces its decision on a Thursday afternoon near the end of every second month:
- January, March, May, July, September, November
Inflation and Rate Decisions
Inflation (CPI) is a major driver of interest rate decisions. To understand the backdrop for rate moves, see the CPI & inflation data for South Africa.
Impact on Your Finances
A 1% change in prime rate on a R1 million bond can increase or decrease your monthly repayment by approximately R650-R700. Use our Home Loan Calculator to see how different rates affect your repayments.
Historical Highlights
- 2008: Rate peaked at 15.5% during the global financial crisis
- 2020: Dropped to 7% during COVID-19 pandemic
- 2022-2023: Rapid increases to combat inflation
See How Rates Affect Your Finances
Use our calculators to see how changes in prime and repo rates impact your monthly repayments and overall costs.
Historical Data Table
| Date | Prime Rate | Change | Duration |
|---|---|---|---|
| 10.25% | -0.25% | Current | |
| 10.5% | -0.25% | 3m | |
| 10.75% | -0.25% | 2m | |
| 11% | -0.25% | 3m | |
| 11.25% | -0.25% | 2m | |
| 11.5% | -0.25% | 2m | |
| 11.75% | +0.5% | 1y 3m | |
| 11.25% | +0.5% | 1m | |
| 10.75% | +0.25% | 2m | |
| 10.5% | +0.75% | 2m | |
| 9.75% | +0.75% | 2m | |
| 9% | +0.75% | 2m | |
| 8.25% | +0.5% | 2m | |
| 7.75% | +0.25% | 1m | |
| 7.5% | +0.25% | 1m | |
| 7.25% | +0.25% | 2m | |
| 7% | -0.25% | 1y 3m | |
| 7.25% | -0.5% | 2m | |
| 7.75% | -1% | 1m | |
| 8.75% | -1% | 26d | |
| 9.75% | -0.25% | 2m | |
| 10% | -0.25% | 5m | |
| 10.25% | +0.25% | 7m | |
| 10% | -0.25% | 7m | |
| 10.25% | -0.25% | 8m | |
| 10.5% | +0.25% | 1y 4m | |
| 10.25% | +0.5% | 1m | |
| 9.75% | +0.25% | 2m | |
| 9.5% | +0.25% | 3m | |
| 9.25% | +0.25% | 1y | |
| 9% | +0.5% | 5m | |
| 8.5% | -0.5% | 1y 6m | |
| 9% | -0.5% | 1y 8m | |
| 9.5% | -0.5% | 2m | |
| 10% | -0.5% | 5m | |
| 10.5% | -0.5% | 7m | |
| 11% | -1% | 2m | |
| 12% | -1% | 25d | |
| 13% | -1% | 1m | |
| 14% | -1% | 1m | |
| 15% | -0.5% | 1m | |
| 15.5% | +0.5% | 5m | |
| 15% | +0.5% | 2m | |
| 14.5% | +0.5% | 4m | |
| 14% | +0.5% | 1m | |
| 13.5% | +0.5% | 1m | |
| 13% | +0.5% | 2m | |
| 12.5% | +0.5% | 5m | |
| 12% | +0.5% | 1m | |
| 11.5% | +0.5% | 2m | |
| 11% | +0.5% | 1m | |
| 10.5% | -0.5% | 1y 1m | |
| 11% | -0.5% | 7m | |
| 11.5% | -0.5% | 8m | |
| 12% | -1% | 1m | |
| 13% | -1.5% | 1m | |
| 14.5% | -1% | 27d | |
| 15.5% | -1.5% | 2m | |
| 17% | +1% | 8m | |
| 16% | +1% | 2m | |
| 15% | +1% | 2m | |
| 14% | +1% | 2m | |
| 13% | - | 16d |