Reserve Bank – Rate of Interest Update

At a meeting held by the Reserve Bank on the 25th of March, it was decided to keep the current interest rate “as is”.

This means:

  • The Prime Rate is – 7.00%.
  • The Repo Rate is – 3.50%.
  • The SARS Rate of Interest – 4.50%. This is the rate to be applied when calculating the Fringe Benefit value of low or zero interest on loans provided by Employers to Employee.