MARCH
Old way of calculating max interest rate
Repo rate effective from
Repo
17 Maart 2016
Factor
Add on
New way of calculating max interest rate
Maximum interest
rate
Factor
Add on
7
Prime rate
Maximum interest
rate
01 May 2016
10,5
Mortgage agreements
7
2,2
5
20,4
0
12
19,00 per annum
Credit Facilities
7
2,2
10
25,4
1,7
10
21,90 per annum
Unsecured credit transactions
7
2,2
20
27
1,7
15
26,90 per annum
2,2
20
35,4
1,7
23
34,90 per annum
Developmental credit
7
Short term credit transactions
1st loan
7
5%
5% per month
Short term credit transactions
2nd loan and more
7
5%
3% per month
Other credit agreements
7
Incidental credit agreements
7
2,2
10
25,4
0
17
2%
24,00 per annum
2% per month
Fees
Old
New
Mortgage agreements
R1 000 per agreement plus 10% of the amount in excess of 10 00
but never more than R 5 000
R1 100 per agreement plus 10% of the amount in excess of 10 00 but never
more than R 5 250
Credit Facilities
R150 per agreement plus 10% of the amount in excess of 10 00 but R165 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R 1 000
more than R 1 050
Unsecured credit transactions
R150 per agreement plus 10% of the amount in excess of 10 00 but R165 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R 1 000
more than R 1 050
Developmental credit
R250 per agreement plus 10% of the amount in excess of 10 00 but R275 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R 2 500
more than R 2 600
Developmental credit
agreement for low income
housing
Short term credit transactions
1st loan
R500 per agreement plus 10% of the amount in excess of 10 00 but R550 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R 2 500
more than R 2 600
Short term credit transactions
2nd loan and more
R150 per agreement plus 10% of the amount in excess of 10 00 but R165 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R1 000
more than R1 050
Other credit agreements
R150 per agreement plus 10% of the amount in excess of 10 00 but R165 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R1 000
more than R1 050
Incidental credit agreements
None
R150 per agreement plus 10% of the amount in excess of 10 00 but R165 per agreement plus 10% of the amount in excess of 10 00 but never
never more than R1 000
more than R1 050
None
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