Current Mortgage Interest Rates 2024 South Africa. The prime rate was 25% at the start of 1994 and decreased to 7% at the end of 2024. If you’re borrowing with a partner (a joint application), at least one applicant must earn a minimum of r25,000 a year and have a clear credit record.

However, resilient south africans will likely be rewarded by predicted rate cuts towards the end of 2024.”. R4.50 plus r1.50 per r100.00 deposited into the account.