What is the current prime rate? The prime rate is 3.25% as of July 2020, according to the Fed.
The prime rate today is 3.25%, according to the Federal Reserve and major U.S. banks.
The prescribed rate of interest has been changed with effect from 1 September 2020 to 7.00% per annum. The previous rate was 7.25%. According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%.
Wall Street Journal prime rate
| This week | Month ago | |
|---|---|---|
| WSJ Prime Rate | 3.25 | 3.25 |
Historical Data
| Date | Value |
|---|---|
| April 02, 2021 | 3.25% |
| April 01, 2021 | 3.25% |
| March 31, 2021 | 3.25% |
| March 30, 2021 | 3.25% |
The prime rate (prime) is the interest rate that commercial banks charge their most creditworthy customers, generally large corporations. The prime interest rate, or prime lending rate, is largely determined by the federal funds rate, which is the overnight rate that banks use to lend to one another.
The current rates as per RBI Monetary Policy are: SLR is 18.00%, Repo rate is 4.00%, Reverse Repo rate is 3.35%, MSF rate is 4.25%, CRR is 3.00% and Bank rate is 4.25%.
CONTACT US
| Indicator | Value | |
|---|---|---|
| Money Market Rates | (5) | |
| Prime lending rate (predominant rate) | 7.00 | |
| Capital Market Rates | (6) | |
| 7.75% 2023 (R2023) (closing yields) | 4.67 |
On each period, we will list the best three fixed deposit rates that are available in South Africa as of 2021.
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Overall Best Fixed Deposits Rates for 2021.
| Ranking | Institution | Effective Rate % |
|---|---|---|
| 1 | African Bank | 11.11% |
| 2 | Discovery Bank | 8.35% |
| 3 | First National Bank (FNB) | 8.00% |
| 4 | Capitec Bank | 7.99% |
Mortgage interest rates are unlikely to drop any further after the head of the nation's central bank warned the benchmark that influences them has bottomed out. When the Reserve Bank of Australia (RBA) cut the cash rate to 0.10 per cent on Tuesday, it lowered it to a level not seen in 30 years of documented history.
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