Deposit Interest Rate in South Africa increased to 7.08 percent in December from 6.96 percent in November of 2023. Deposit Interest Rate in South Africa averaged 9.94 percent from 1977 until 2023, reaching an all time high of 21.60 percent in August of 1998 and a record low of 3.74 percent in March of 2021. source: IMF
Deposit Interest Rate in South Africa is expected to be 7.08 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Deposit Interest Rate in South Africa is projected to trend around 5.83 percent in 2025 and 4.83 percent in 2026, according to our econometric models.
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| Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
| Banks Balance Sheet | 7630093.00 | 7600600.00 | ZAR Million | Feb 2024 |
| Central Bank Balance Sheet | 1238948.00 | 1241048.00 | ZAR Million | Mar 2024 |
| Deposit Interest Rate | 7.08 | 6.96 | percent | Dec 2023 |
| Foreign Exchange Reserves | 62323.00 | 61653.00 | USD Million | Mar 2024 |
| Interbank Rate | 8.37 | 8.37 | percent | Apr 2024 |
| Interest Rate | 8.25 | 8.25 | percent | Mar 2024 |
| Lending Rate | 11.75 | 11.75 | percent | Mar 2024 |
| Loans to Private Sector | 4634091.00 | 4604046.00 | ZAR Million | Feb 2024 |
| Money Supply M0 | 376845.00 | 397321.00 | ZAR Million | Feb 2024 |
| Money Supply M1 | 2617877.00 | 2622403.00 | ZAR Million | Feb 2024 |
| Money Supply M2 | 4202478.00 | 4196727.00 | ZAR Million | Feb 2024 |
| M3 Money Supply YoY | 5152798.00 | 5112492.00 | ZAR Million | Feb 2024 |
Deposit Interest Rate in South Africa
The Deposit Interest Rate is the average rate paid by commercial banks to individuals or corporations on deposits.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 7.08 | 6.96 | 21.60 | 3.74 | 1977 - 2023 | percent | Monthly |
Compare Deposit Interest Rate by Country
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