What is a prime lending rate?

Author
MyProperty
South Africa's #1 independent property portal

The prime lending rate is the interest rate that commercial banks will charge their clients when issuing a loan - such as a home loan. The prime lending rate is the 'default' interest rate that you are charged when you borrow money - and depending on your credit profile this number can be adjusted accordingly by financial institutions.

Our bond calculator is updated with all the latest interest rates.

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