What is the Interest Rate In South Africa?
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed.
What Is the Interest Rate In South Africa?
| Capital Market Rates | (6) | i | ||
|---|---|---|---|---|
| 8.00% 2030 (R2030) (closing yields) | 10.99 | 2023-09-28 | ||
| 10,5% 2026 (R186) (closing yields) | 9.59 | 2023-09-28 | ||
| 5-10 years (daily average bond yields) | 10.97 | 2023-09-28 | ||
| 10 years and longer (daily average bond yields) | 12.57 | 2023-09-28 | ||
| Exchange rates | i | |||
| Nominal effective exchange rate | (1) | 76.90 | 2023-09-29 | |
| Rand per US Dollar | (2) | 18.7840 | 2023-09-29 | |
| Rand per British Pound | (2) | 23.0114 | 2023-09-29 | |
| Rand per Euro | (2) | 19.9242 | 2023-09-29 | |
| Rand per Japanese Yen | (2) | 0.1260 | 2023-09-29 |
What bank has the best Interest Rate In South Africa?
| # 1 | Absa Cash Invest Tracker Min Deposit: R0 | 8.9% |
|---|---|---|
| # 2 | African Bank Savings Pocket Min Deposit: R1 | 7.25% |
| # 3 | FNB Savings Account Min Deposit: R1 | 7.05% |
| # 4 | TymeBank GoalSave Min Deposit: R1 | 6% |
| # 5 | Standard Bank PureSave Min Deposit: R1k | 5.8% |
How much interest can I earn on R1 million in South Africa?
As an example, with an interest-focused investment of R1 million, generating a return of 6.7% over 12 months will mean a return of R67 000 for the year.