This blog is co-authored by William Hayne and Francisco Andrade Nobrega, candidate attorneys.

In April 2025 the Supreme Court of Appeal confirmed the application of the test for usurious interest rates set out in African Dawn Property Finance 2 (Pty) Ltd v Dreams Travel and Tours CC [2011] 3 ALL SA 345 (SCA) (African

The prescribed rate of interest has been changed with effect from 1 September 2020 to 7.00% per annum. The previous rate was 7.25%.

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

The new regulations prescribing the maximum rates of interest, initiation fees and service fees that credit providers can charge come into effect on 6 May 2016.

An urgent application by Micro Finance South Africa (MFSA) to stay the implementation of the new regulations pending the outcome of an application to set aside the Minister of

Certainty in regard to the cost of the proposed credit is imperative.

Common to all forms of a credit agreement for the purposes of the National Credit Act is the requirement of payment of a charge, fee or interest in return for granting credit. This covers any consideration or payment made by a consumer to