@newsnexussa: #newsstories #southafricatiktok🇿🇦 #newsnexussa #incaseyoumissedit @EJV 🇿🇦

Kabelo Letoaba🇿🇦 :

we blacks get 12%

MziNgco🇿🇦 :

This means interest rates will be expensive now...

mercy.math :

They did away with it in Botswana a few years back. Now bank set their own interest rates and all loans are over 20%

alldaygré. :

Giving those rights to the same banks that manipulated the value of the rand??? You gotta be kidding me

Katima Mulilo :

What are the implications on consumers? Are banks given rights to decide on interest rates?

I'm-Your_Papi! 😎🇿🇦 :

The day we stop taking loans from banks is the day we get our power back!

Dr Frans :

All banks are scam

zorro :

So that the can manipulate the rand again🙄

Mthobisi Sikhakhane 🇿🇦⚖️ :

I want 6.75% take it or leave it.

sachinlaloo :

banks are the biggest problem

Amantle :

Confusing?

Tebogo Barry Moiloa :

Anyone of them still leaves borrowers at the lenders mercy.

gladwinolebogeng :

nah why not prime is removed that means interest rate should go down. or am I missing something

TheNazz21🇵🇸 :

we wud like no interest😂

lungsta :

Repo plus and regulate the additional charge

Nellie Mcangase :

Can they do that after 5 or 6 years please, they must wait for me to take a house please

NOKATEL_Pty_Ltd :

Repo+X is better. Prime already = repo+3.5%, so you start 3.5% deep. Anything above 5% on prime is just excessive pricing.

Fanele Vilakazi :

Skrapnel :

They should make short term and personal loans also stick to prime +2. Not 27,5%

Rixcki :

why can we not just loan the money straight from the reserve bank ? why use a middle man ?

TT-W-RR :

This is just optics and to allow the commercial banks to make more money as the Reserve bank may beneficiate the commercial banks with favourable borrowing repo rates without benefits being passed to clients

Lucifer :

so what changed?🤣🤣

Resolute :

repo + sounds better

StGeorges :

Prime is a guide or a range, if it falls away…lenders/banks will do as they please

Brave heart73 :

Also loans must regulated not more than 4% above repo rate..law passed..Donald Trump setting new rules in America this year, 10% loans rate , no more.. SA to follow same roue for non secured lending. personal loans, credit cards etc..