As was widely expected, the South African Reserve Bank elected to keep the repo rate unchanged when it announced its latest interest rate decision on Thursday, 29 January.
The repo rate thus remained at 6.75%, keeping the prime lending rate at 10.5%.
The announcement left indebted consumers paying the same amounts on loans and credit, while savers will continue earning the same interest on deposits.
First interest rate announcement of 2026
The Monetary Policy Committee (MPC) last cut the repo rate by 25 basis points at its November 2025 meeting.
Thursday’s announcement marked the committee’s first interest rate decision of the year.
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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 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.
Dates for SARB MPC meeting dates in 2026
| Month | Date | Outcome |
| January | 29 January | No change |
| March | 26 March | TBA |
| May | 28 May | TBA |
| July | 23 July | TBA |
| September | 23 September | TBA |
| November | 19 November | TBA |
Monthly bond repayment table
The table below shows the monthly bond repayments on various bond values over a 20-year period assuming no deposit and repayments at prime, after Thursday’s announcement.
| Bond | Repayment |
| R750 000 | R7 362 |
| R800 000 | R7 853 |
| R850 000 | R8 344 |
| R900 000 | R8 835 |
| R950 000 | R9 326 |
| R1 000 000 | R9 816 |
| R1 500 000 | R14 725 |
| R2 000 000 | R19 633 |
| R2 500 000 | R24 541 |
| R3 000 000 | R29 449 |
| R3 500 000 | R34 358 |
| R4 000 000 | R39 266 |
| R4 500 000 | R44 174 |
| R5 000 000 | R49 082 |
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