What is Home Loan?
A home loan is an amount an individual borrows from a financial institution such as a housing finance company to buy a new or resale home, construct a home, or renovate or extend an existing one.
What Is The Best Home Loan Interest Rate In South Africa
Below are some of the Best Home Loan Interest Rates.
South Africa’s prime lending rate is 8.25 % as of July 2022. It was raised by 0.25% in 2021 and 0.25% again in January 2022.
Are interest rates high in South Africa?
The South African Reserve Bank (SARB) has announced another interest rate hike, taking the repo rate up to 8.25%. This is the highest rate we’ve seen since way back in 2009.