Interest rate on bank loans reached 7.04% in 2021 in South Africa, according to the National Central Bank. This is 8.65% less than in the previous year.
Historically, interest rate on bank loans in South Africa reached an all time high of 22.3% in 1984 and an all time low of 5.50% in 1963.
South Africa has been ranked 56th within the group of 94 countries we follow in terms of interest rate on bank loans.
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