Prescribed Rate of Interest Increases

Aug 4, 2014 | 2012 - 2014, News

As of 1 August of this year, the prescribed (default) rate of interest on all claims has been reduced from 15% to 9%. This means that a litigant will not be able to claim more than 9% on any monetary claim brought to court, unless a different rate of interest has been agreed between the parties beforehand.

Discuss this article with me

Recent Articles

Commentary: South Africa’s Energy Transition

Commentary: South Africa’s Energy Transition

What the New Expropriation Act Means for Landowners and Reform in South Africa

What the New Expropriation Act Means for Landowners and Reform in South Africa

Football Hooligans at the Gates

Football Hooligans at the Gates

Understanding the 2025 Regulations and Sectoral Targets Under the Employment Equity Act 55 of 1998

Understanding the 2025 Regulations and Sectoral Targets Under the Employment Equity Act 55 of 1998