Tag archives: interest rate

Prescribed rate of interest is 10.75% from 1 March 2023

By Patrick Bracher (ZA) on February 28, 2023 Posted in General

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 … Continue reading

Prescribed rate of interest is 10.5% from 1 January 2023

By Patrick Bracher (ZA) on January 25, 2023 Posted in General

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 … Continue reading

Prescribed rate of interest is 9.75% from 1 November 2022

By Patrick Bracher (ZA) on November 1, 2022 Posted in General

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 … Continue reading

Prescribed rate of interest is 9.0% from 1 September 2022

By Patrick Bracher (ZA) on August 31, 2022 Posted in General

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 … Continue reading

Prescribed rate of interest is 7.75% from 1 May 2022

By Patrick Bracher (ZA) on April 29, 2022 Posted in General

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 … Continue reading

Prescribed rate of interest is 7.25% from 1 January 2022

By Patrick Bracher (ZA) on January 21, 2022 Posted in General

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 … Continue reading