Interest rate when buying a house in south africa
What are the best banks for home loans in South Africa? It's worth the effort to shop around for the best deal, as some banks may offer you better interest rates, and a higher chance of home loan approval. Get home buying tips delivered straight to your inbox. Sign me up! Interest Rate in South Africa averaged 12.41 percent from 1998 until 2020, reaching an all time high of 23.99 percent in June of 1998 and a record low of 5 percent in July of 2012. This page provides - South Africa Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 4. Interest rate. This is the rate at which the bank lends you the money to purchase a home. The rate that the bank charges you is based on a variety of factors. You should try to negotiate a lower rate since even a small reduction in the interest rate can add up to a large sum over the course of the home loan.