Thu May 23 04:32:33 SAST 2013

Interest rates come down

Jul 19, 2012 | Sapa | 8 comments

'Don't borrow because rates are low - Economic conditions will remain tight through 2012'

Comments

Thu May 23 04:32:33 SAST 2013 ::
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Jul 20, 2012

tpaz

Amen.

Banks are making a lot of profits on us 3.5% points ......globally banks should be btn 0.5-2% points above the repo rate.

If your car or bond is fixed installment this would not affect you.



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Jul 20, 2012

CheeseBoy

@tpaz

you might not have seen my comment but I did suggest a couple days ago they might be forced to bring the rate down.

but you right banks are still making a killing from us.
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Jul 20, 2012

skhokho21

tpaz, who in this day & age fixes his/her interest rates with these banks, I agree these banks are
k i l l i n g us.
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Jul 20, 2012

BRA-MAFUTHA

will my interest rate on my fixed installent change as well im currently on 15%?
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Jul 20, 2012

MarryMeNow

BRA-MAFUTHA
it wont change, Fixed interest rate is generally over a two year period. Your 15% is favourable to the bank at this stage, but same thing can happen to you if interest rates go up to 20%. its a win or lose game, thats the risk you took. although i do not understand what kind of a person who would fix interest when rates have going down in the past 3 years.
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Jul 20, 2012

THEWHEELOFCHANGE

good and bad, In my opinion, a lower (not too low of course) rate suits a developing country like South Africa far better. The majority of people (not capital/money) in this country are borrowers and have sizeable amounts of debt. Debt that is usually accumulated until retirement which is then subtracted from people's pensions i.e. reducing the future purchasing power of the consumer.
the R50 that is coming to us, it will be taken away by the increase in petrol next month (petrol is increasing by 18 cents in August)
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Jul 20, 2012

BRA-MAFUTHA

MarryMeNow
BRA-MAFUTHA
it wont change, Fixed interest rate is generally over a two year period. Your 15% is favourable to the bank at this stage, but same thing can happen to you if interest rates go up to 20%. its a win or lose game, thats the risk you took. although i do not understand what kind of a person who would fix interest when rates have going down in the past 3 years.
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Thanx for making it clear have to admit is defiantly a win or lose situation unfortunately in my case is lose; this bank are really milking our cash hard
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Jul 23, 2012

blego

MORE MONEY INTO MAJIMBOS POCKETS NOW WE WILL SPEND.
BUT PLEASE NOT ON STREET NIGHT GIRLS. BOMAGO.........
THEY ARE SMILING.
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