DOJ

Prescribed Rate of Interest Act, 55 of 1975

Jul 29, 2022

Information

The Minister of Justice published new prescribed rate of interest in terms of section 1 (2)(b) of the Prescribed Rate of Interest Act, 1975 (Act 55 of 1975).

The new prescribed rate of interest is set at 7,75 per cent per annum as from 1 May 2022 for the purposes of section 1(1) of the said Act.

You can find the Prescribed Rate of Interest Act, 1975 (Act 55 of 1975) here.

You can read more on the announcement here.

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