South Africa: Interest rates on bank credit to the private sector, 1960 - 2020:
For that indicator, we provide data for South Africa from 1960 to 2020. The average value for South Africa during that period was 12.49 percent with a minimum of 5.5 percent in 1963 and a maximum of 22.33 percent in 1984.
The latest value from 2020 is 7.71 percent. For comparison, the world average in 2020 based on 82
countries is 10.31 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The lending interest rate in South Africa shown below is the interest rate on credits from banks to prime borrowers, i.e. to the lowest risk borrowers in the private sector. That includes firms and households.
Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.