What is the maximum interest rate on a credit card or overdraft?

Credit facilities — including credit cards, overdrafts, and store cards — are capped at the SARB repo rate plus 14 percentage points. At the current repo rate, that maximum is 21% per year.

What counts as a credit facility?

A credit facility is a revolving credit agreement, such as a credit card, store card, or bank overdraft, where you can draw down and repay repeatedly up to an approved limit.

Does this cap include fees?

No — the Regulation 42(1) Table A maximum applies to the interest rate only. The National Credit Act separately regulates other charges, such as initiation and service fees.

What is the maximum legal interest rate on a credit facility in South Africa?

Revolving credit, such as credit cards, overdrafts, and store cards.

The maximum is repo rate + 14% — it moves with the SARB repo rate

National Credit Act Regulation 42(1) Table A sets the maximum for credit facility as repo rate + 14%. Enter your quoted rate below to check it against today's maximum.

Your Credit Agreement

Credit Type

Not sure which applies? Check your credit agreement or ask your lender.

Your Quoted Rate (% per year)The interest rate quoted or charged on your agreement

Above the legal maximum

24% vs 21% maximum

Quoted rate compared against the Credit facility maximum (per year)

Quoted Rate vs Legal Maximum

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Numeric comparison of the quoted rate against the NCA legal maximum for the selected credit type
Figure	Rate (per year)
Your quoted rate	24%
Legal maximum (Credit facility)	21%

Maximum = SARB Repo rate (7%) + 14 percentage points, per Regulation 42(1) Table A. This checks against today's maximum — for a loan you already signed, the cap that applied on your signing date governs, which may differ if the repo rate has moved since.

If you have concerns about a quoted or charged rate, you can verify the applicable maximum and your lender's registration status via the National Credit Regulator (NCR).

Credit Facility — current maximum

Credit Facility formula and current NCA maximum
Category	Formula (Regulation 42(1) Table A)	Current maximum
Credit Facility	repo rate + 14%	21% per year

Frequently asked questions

Other credit categories

All categories (hub)Mortgage Unsecured Credit Developmental Credit Other Credit Short-Term Credit Incidental Credit

If you have concerns about a quoted or charged rate, you can verify the applicable maximum and your lender's registration status via the National Credit Regulator (NCR).

This is an estimate only, not financial or tax advice, and we are not a financial services provider (FSP). Your actual figures depend on your lender or provider, and your personal circumstances.