Saturday, September 1, 2012

Interest Rates

What is the present interest rate banks are charging to lend money for a property purchase?
The present prime rate has recently been reduced to 8,5% per annum, which is the lowest in South Africa for over 35 years. The interest is calculated on the balance owing each day and is added to the bond once a month. If you want to calculate how much the repayments will be to cover the interest and pay off your loan over the usual 20 year period, click here for the calculator on our website.

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