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Brian Mengel,
Civil Servant
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Interest rates were rising, and financing was complicated by a regulation prohibiting commercial banks from lending money on unimproved land.
The banks and building societies will charge extortionate rates of interest that will be paid for by the tenants through increased rents and having basic rights such as Security of Tenure taken away.
All rates are quoted in South African rands and foreign currency payments are accepted at the daily bank rate of exchange valid in South Africa on the date that payment is received.
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Ben Werner,
Student Newspaper Editor
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Interest rates are imposed by an undemocratic central bank, regardless of local economic and environmental conditions.
Interest rates fell sharply and the banks were faced with an international financial crisis.
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John Fielding,
CEO
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Banks are large holders of yen bonds and despite the strong stock market and improvement in economic sentiment this will be a factor which limits the rise in interest rates in the near term.
Banks were to bear the full costs of any government intervention and cash infusion was achieved via loans at commercial rates.
Banks are advised to get the aforesaid parameters duly endorsed in their respective Board Resolutions approving the prime lending rates.
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Mike Enlow,
Internet Marketer
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Bank's are quick to advertise their best daily discounted interest rates and new products to the broker community, one of their top sources of new business.
Banks are also required to provide information on deposit rates for various maturities, effective annualised return to the depositor and maximum and minimum interest rates charged to their borrowers.
The banks are free to offer any interest rate on fixed deposits and the rates are becoming more and more volatile with time and across banks.
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Astrid Schuhmann,
Backpacker
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Banks tend to have marginally better exchange rates than the exchange desks at the airports and train stations.
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