Average Credit Card Interest Rate South Africa

The average credit card interest rate slipped this week after two cards included in the weekly rate report trimmed aprs by a quarter of a percentage point. Compare interest rates for fixed deposit accounts and savings account products from major banks in south africa.

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average credit card interest rate south africa

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Deposit interest rate in south africa increased to 688 percent in november from 676 percent in october of 2019.

Average credit card interest rate south africa. Deposit interest rate in south africa averaged 1041 percent from 1977 until 2019 reaching an all time high of 2160 percent in august of 1998 and a record low of 508 percent in november of 2012. Lending rate in south africa averaged 1159 percent from 1950 until 2019 reaching an all time high of 2550 percent in august of 1998 and a record low of 5 percent in february of 1950. The rate indicated is the debit interest rate charged by nedbank for the remaing outstanding balance after the interest free days period when applicable.

South africans are becoming more heavily indebted with interest rate hikes and the weak economy crippling households across the country. We have searched the market to make it easy for you to compare the most important credit card features such as the interest rate you will pay on a negative balance and the minimum monthly repayment you will need to make. The content on this page is accurate as of the posting date.

This page provides south africa lending rate actual values historical data forecast chart statistics economic calendar and news. Our personal best is the the rcs credit card which has access to south africas biggest independent. Store credit cards is a great example of this.

One graph shows how bad south africas consumer debt is. Currency conversion fee 275 of the rand value of the transaction applies to any transaction outside of south africa cashback at point of sale r200. Nedbank classic credit card.

A small credit limit is usually given at first but if you regularly make your monthly payments on time you can then qualify for a higher credit limit or lower interest rate over time. Hippocoza will soon compare all of south africas leading credit cards instantly and find the best deal. Lost card administration or card replacement fee is r16700 and card replacement fee we may charge a replacement card fee or lost card administration fee at our own discretion notifyme r060.

South africas banks offer maximum credit limits based on an individuals affordability profile and is one of the reasons there are so many credit card options available. This product has 55 interest free days on purchases and may require a minimum income of r36000 annually to qualify according to its criteria on its website. Find the highest equivalent fixed deposit time deposit certificate of deposit and term deposit rates from south africa africa and around the world.

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