The Supreme Court of Appeal confirmed that where post-judgment interest is payable at the prescribed rate of interest under the Prescribed Rate of Interest Act, 1975 is the appropriate rate of interest that prevails at the time when judgment is granted in favour of the claimant in the initial court in which the proceedings take

# interest rate

# Prescribed rate of interest is 11.25% from 1 May 2023

The prescribed rate of interest is 11.25% per annum with effect from 1 May 2023. The previous rate was 10.75% per annum.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts…

# Prescribed rate of interest is 10.75% from 1 March 2023

The prescribed rate of interest is 10.75% per annum with effect from 1 March 2023. The previous rate was 10.5% per annum.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts…

# Prescribed rate of interest is 10.5% from 1 January 2023

The prescribed rate of interest changed with effect from 1 January 2023 to 10.5% per annum. The previous rate was 9.75% per annum.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all…

# Prescribed rate of interest is 9.75% from 1 November 2022

The prescribed rate of interest changed with effect from 1 November 2022 to 9.75% per annum. The previous rate was 9.0%.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts unless…

# Prescribed rate of interest is 9.0% from 1 September 2022

The prescribed rate of interest changed with effect from 1 September 2022 to 9.0% per annum. The previous rate was 8.25%.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts unless…

# Prescribed rate of interest is 7.75% from 1 May 2022

The prescribed rate of interest changed with effect from 1 May 2022 to 7.75% per annum. The previous rate was 7.50%.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.50%. The prescribed rate of interest applies to all debts unless…

# Prescribed rate of interest is 7.25% from 1 January 2022

The prescribed rate of interest changed with effect from 1 January 2022 to 7.25% per annum. The previous rate was 7.00%.

According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts unless…