The South African Reserve Bank (SARB) has voted to cut interest rates by 25 basis points in a decision that brought welcome relief to those South Africans in debt.
The repo rate now stands at 6.75% while the prime lending rate is 10.25%.
Governor Lesetja Kganyago announced the decision at a press briefing on Thursday.
The SARB’s Monetary Policy Committee’s (MPC) six members were unanimous in making the decision.
The November meeting marks the final rates decision for the year, with the MPC next set to meet in late January 2026.
Who are the SARB’s MPC?
The South African Reserve Bank’s monetary policy committee 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 – and the deciding vote if necessary.
| Month | Date | Outcome |
| January | 30 January | 25 basis point cut |
| March | 20 March | No change |
| May | 29 May | 25 basis point cut |
| July | 31 July | 25 basis point cut |
| September | 18 September | No change |
| November | 20 November | 25 basis point cut |
Monthly bond repayment table
The table below shows the new monthly bond repayments on various bond values over a 20-year period assuming no deposit and repayments at prime following Thursday’s decision, as well as the now ‘old’ repayments, as well as the monthly saving.
| Bond | Old | New | Saving |
| R750 000 | R7 488 | R7 362 | R126 |
| R800 000 | R7 987 | R7 853 | R134 |
| R850 000 | R8 486 | R8 344 | R142 |
| R900 000 | R8 985 | R8 835 | R150 |
| R950 000 | R9 485 | R9 326 | R159 |
| R1 000 000 | R9 984 | R9 816 | R168 |
| R1 500 000 | R14 976 | R14 725 | R251 |
| R2 000 000 | R19 968 | R19 633 | R335 |
| R2 500 000 | R24 960 | R24 541 | R419 |
| R3 000 000 | R29 951 | R29 449 | R502 |
| R3 500 000 | R34 943 | R34 358 | R585 |
| R4 000 000 | R39 935 | R39 266 | R669 |
| R4 500 000 | R44 927 | R44 174 | R753 |
| R5 000 000 | R49 919 | R49 082 | R837 |
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