NEWS ARTICLE

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Housing Loan Interest Rate announcement

14th April 2020

By Laylas

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Housing Loan interest rate announcement

 

The South African Reserve Bank has announced their decision to decrease the repo rate to 4.25%, down from 5.25%, effective 14 April 2020. This is the second rate cut in under a month.

This means that, based on the current repo rate, the interest rate on housing loans issued by the Fund will reduce from 7.25% to 6.25%.

Members with housing loans will receive specific communication regarding the change in the interest rate.

 

For further information, contact the Fund by sending an email to info@capefund.com

Finance, Home Loan, Personal Finance

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