Repo rate today and what the next decision means for your bond
The repo rate is 7.25% since 25 September 2026. The Reserve Bank announces its next decision on 19 November 2026: pick a move to see your instalment change.
Example: a R1,500,000 bond at prime· change a figure to see yours
Change in your instalment
+R254
repo 7.50%, prime 11.00% (now 7.25% and 10.75%)
| Instalment now | R15,228 |
| Instalment after | R15,483 |
| Over a year | +R3,053 |
Compiled by Radif Partners · How the estimate is made
The repo rate is the rate at which the South African Reserve Bank (SARB) lends to commercial banks, and the main tool of its Monetary Policy Committee (MPC) to keep inflation near target. Banks set their prime lending rate at the repo rate plus 3.5 percentage points, and most home loans, car finance and overdrafts are priced from prime. The repo rate has been 7.25% since 25 September 2026, when it rose from 7.00%; prime is 10.75%. It peaked at 8.25% from May 2023, then came down in steps to 6.75% in November 2025, before two increases in 2026. The next announcement is on 19 November 2026. On a R1,500,000 bond over 20 years at prime, the instalment is R15,228 a month: a 0.25% hike would add R254, a 0.25% cut would save R253. This site does not predict the committee’s decision.
Repo rate changes since 2023
Each row is a change in the Reserve Bank’s policy rate, dated from the first day it applied in the SARB’s published series, with prime beside it.
| From | Repo rate | Prime | Change |
|---|---|---|---|
| 25 September 2026 | 7.25% | 10.75% | +0.25% |
| 29 May 2026 | 7.00% | 10.50% | +0.25% |
| 21 November 2025 | 6.75% | 10.25% | -0.25% |
| 1 August 2025 | 7.00% | 10.50% | -0.25% |
| 30 May 2025 | 7.25% | 10.75% | -0.25% |
| 31 January 2025 | 7.50% | 11.00% | -0.25% |
| 22 November 2024 | 7.75% | 11.25% | -0.25% |
| 20 September 2024 | 8.00% | 11.50% | -0.25% |
| 26 May 2023 | 8.25% | 11.75% | +0.50% |
| 31 March 2023 | 7.75% | 11.25% | +0.50% |
| 27 January 2023 | 7.25% | 10.75% | +0.25% |
| 3 January 2023 | 7.00% | 10.50% | start |
What the repo rate decision does to your instalment
The calculator at the top applies a move to prime and recomputes your instalment over the years left. With the site’s example of R1,500,000 over 20 years at prime, the instalment goes from R15,228 to R15,483 after a 0.25% hike, or R14,976 after a 0.25% cut, about R3,053 a year either way. A larger or newer bond moves more; a bond with only a few years left moves less, because most of each payment is then capital.
Your bond over the next four meetings
Example: a R1,500,000 bond, rates on hold· change a figure to see yours
Instalment after 27 May 2027
R15,228
+R0 a month against today’s R15,228
| Prime today | 10.75% |
| Prime after four meetings | 10.75% |
How the MPC decides
The Monetary Policy Committee meets six times a year. It weighs inflation, the outlook for growth, the rand, wages, food and fuel prices, and global interest rates, then announces its decision in a statement read by the Governor. The decisions of 2026 so far were two hikes of 0.25%, in May and September, after a cutting cycle that took the rate from 8.25% to 6.75%. Fuel prices are among the inputs: the jump in petrol and diesel prices from April 2026 is visible in the price history. The MPC dates page lists the next meetings, and the bond repayment calculator takes your own bond terms.