Prime lending drops to 7.25%

Prime lending will be reduced for the 4th time this year bringing it down from 7.75% to 7.25%.

This will ease the burden with mortgage repayments under the current circumstances, although as Tom Head in The South African (Finance) points out, other savings vehicles interest is also reduced. For bonded homeowners, it will be a little reprieve under our extraordinary times.

Read about it as reported by Fin24