Prime Lending Rate History

On 30 May'24 we will have our next Monetary Policy Committee (MPC) meeting and the next Interest Rate / Prime Lending Rate (PLR) announcement.

The last time that the PLR was reduced was on 24 July 2020 when it went from 7.25% to 7.00%. It then stayed the same until 18 Nov'21 when it went up again to 7.25%. 

It then started climbing regularly by 25 to 50 basis points at every announcement date (6 per year) from 18 Nov'21 to 26 May'23 when it hit 11.75%. This was the highest it has been since December 2008. 

The highest PLR that we could confirm was 25.5% in August 1998. 

The lowest it has ever been is 5.00% which was in Jan/Feb 1950.

Since May 2023 the Prime Lending Rate has stayed the same at 11.75% and reports are now saying that we are due for a reduction soon. This may be at the MPC meeting on 30 May'24, if not, probably at the next one on 18 July'24 .... let's hope as a reduction will do a lot of good to the overall market sentiment at the moment which is quite negative. 

For any real estate assistance, buying, selling, renting, finance or legal .... please do not hesitate to send us a mail to or contact us directly.

Marnus 072 264 7806
Juanita 083 604 1231

For all our stock please visit our website at