The South African Reserve Bank (SARB) elected to keep interest rates on hold in the country when its Monetary Policy Committee (MPC) met for the second time in 2025 on Thursday, 20 March.
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As a result, the repo rate remains at 7.50% while the prime lending rate is 11%.
The decision was not unanimous with four committee members voting to keep rates on hold, while two others preferred a 25 basis point cut.
Who are the SARB’s MPC?
The South African Reserve Bank’s (SARB’s) monetary policy committee (MPC) meets every second month to announce changes – if any – to the country’s repo and prime lending rates.
The meetings in 2025 are scheduled to take place in January, March, May, July, September and November – and always on a Thursday at 15:00.
Currently, the committee comprises of six people, with Lesetja Kganyago holding the position of governor of the SARB.
| Month | Date | Outcome |
| January | 30 January | 25 basis point cut |
| March | 20 March | No change |
| May | 29 May | |
| July | 31 July | |
| September | 18 September | |
| November | 20 November |
Monthly bond repayment table
The South African website’s table below shows the current monthly bond repayments on various bond values over a 20-year period assuming no deposit and repayments at prime.
| Bond | Current (11%) |
| R750 000 | R7 741 |
| R800 000 | R8 258 |
| R850 000 | R8 774 |
| R900 000 | R9 290 |
| R950 000 | R9 806 |
| R1 000 000 | R10 322 |
| R1 500 000 | R15 483 |
| R2 000 000 | R20 644 |
| R2 500 000 | R25 805 |
| R3 000 000 | R30 966 |
| R3 500 000 | R36 127 |
| R4 000 000 | R41 288 |
| R4 500 000 | R46 448 |
| R5 000 000 | R51 609 |
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