Interest Rate Calculator
Interest Rate Calculator South Africa
Compare interest rates across all loan products. Understand prime rate, NCA caps, effective annual rates, and what different rates mean for your monthly repayments.
South African Loan Interest Rates by Product
Typical market rates as of April 2026 — actual rates depend on your credit profile
| Loan Product | Rate Range | Effective Rate | NCA Regulated |
|---|---|---|---|
| Home Loan (bank) | Prime ± 1–2% | 10.75%–13.75% | Yes |
| Personal Loan (bank) | Prime + 5–15% | 16.75%–26.75% | Yes |
| Business Loan (secured) | Prime + 1–5% | 12.75%–16.75% | Yes |
| Business Loan (unsecured) | Prime + 5–12% | 16.75%–23.75% | Yes |
| Vehicle Finance | Prime + 1–4% | 12.75%–15.75% | Yes |
| Credit Card | Prime + 10–14% | 21.75%–25.75% | Yes |
| Payday Loan (micro-lender) | Max 5%/month | Up to 60% | Yes |
| Invoice Finance | 2–5% per 30 days | 24%–60% | No |
Prime rate 11.75% (April 2026). Rates are indicative and vary by lender and credit profile.
Interest Rate FAQs
What is the current prime lending rate in South Africa?+
The current prime lending rate in South Africa is 11.75% per annum (April 2026). The prime rate is set by individual banks but moves in line with the repo rate, which is set by the South African Reserve Bank (SARB). Most loan products are priced as prime plus or minus a margin.
What is the difference between interest rate and APR?+
An interest rate is the cost of borrowing the principal amount. APR (Annual Percentage Rate) — or the effective annual rate in South Africa — includes all fees and charges in addition to interest, giving a more accurate picture of the true cost of credit. Always compare APR when comparing loans, not just the stated interest rate.
What is the maximum interest rate for personal loans under the NCA?+
Under the National Credit Act (NCA), the maximum interest rate for unsecured personal loans is: (Repo Rate × 2.2) + 20% per annum. With the current repo rate of 8.25%, the NCA cap is approximately 38.15% per annum. Lenders charging above this rate are operating illegally.
How does compound interest work on South African loans?+
South African bank loans typically use compound interest calculated monthly. This means interest accrues on both the principal and any unpaid interest from previous periods. Credit cards charge interest daily in most cases. The longer you take to repay a loan, the more compound interest you pay — use our repayment calculator to model the impact.
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