The Prime Overdraft Rate is the benchmark interest rate used by South African commercial banks for lending to their most creditworthy private sector customers. It is directly linked to the Repo Rate set by the South African Reserve Bank (SARB), usually maintaining a fixed spread above it. This rate influences the cost of mortgages, personal loans, and business credit across the economy.
The rate is calculated as a fixed margin (historically 350 basis points) above the South African Reserve Bank's Repo Rate. Commercial banks adjust this rate immediately following changes in the central bank's policy rate.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Jul 23, 2026 | 10.50 | 10.75 | -0.25 |
| May 28, 2026 | 10.50 | 10.50 | 0.00 |
| Mar 26, 2026 | 10.25 | 10.25 | 0.00 |
| Jan 29, 2026 | 10.25 | 10.25 | 0.00 |
| Nov 20, 2025 | 10.25 | 10.25 | 0.00 |
| Sep 18, 2025 | 10.50 | 10.50 | 0.00 |
| Jul 31, 2025 | 10.50 | 10.50 | 0.00 |
| May 29, 2025 | 10.75 | 10.75 | 0.00 |
| Mar 20, 2025 | 11.00 | 11.00 | 0.00 |
| Jan 30, 2025 | 11.00 | 11.00 | 0.00 |
| Nov 21, 2024 | 11.25 | 11.25 | 0.00 |
| Sep 19, 2024 | 11.50 | 11.50 | 0.00 |
| Jul 18, 2024 | 11.75 | 11.75 | 0.00 |
| May 30, 2024 | 11.75 | 11.75 | 0.00 |
| Mar 27, 2024 | 11.75 | 11.75 | 0.00 |
| Jan 25, 2024 | 11.75 | 11.75 | 0.00 |
| Nov 23, 2023 | 11.75 | 11.75 | 0.00 |
| Sep 21, 2023 | 11.75 | 11.75 | 0.00 |
| Jul 20, 2023 | 11.75 | 11.75 | 0.00 |
| May 25, 2023 | 11.75 | 11.50 | +0.25 |
| Mar 30, 2023 | 11.25 | 11.00 | +0.25 |
| Jan 26, 2023 | 10.75 | 11.00 | -0.25 |
| Nov 24, 2022 | 10.50 | 10.50 | 0.00 |
| Sep 22, 2022 | 9.75 | 9.75 | 0.00 |
| May 19, 2022 | 7.75 | 8.25 | -0.50 |
| Mar 24, 2022 | 7.75 | — | — |
| Jan 27, 2022 | 7.50 | 7.50 | 0.00 |
| Nov 18, 2021 | 7.25 | 7.00 | +0.25 |
| Sep 23, 2021 | 7.00 | 7.00 | 0.00 |
| Date | First print | Current | Revision |
|---|---|---|---|
| May 28, 2026 | 10.3 | 10.5 | +0.25 ↑ |
