Following the decrease in the Repo Rate of 50 basis points by the South African Reserve Bank, Standard Bank's Prime lending rate will decrease from 10.50% to 10.00% effective from Friday 26 March 2010.
The Home Loan base rate will also decrease by .50% from 10.50% to 10,00% with effect from Friday 26 March 2010.
These rate changes are applicable for both new and existing clients.
The Fixed Home Loan interest rates will remain unchanged for the time being but are under review.
Both Fully Guaranteed Loans and Liberator Accounts will also decrease by .50% with effect from Friday 26 Match 2010 in line with the prime lending rate.