Are Capitec keeping the interest rates in line with the South African Reserve Bank Interest (Repo) Rate or are they skimming off the top and pocketing the difference?
Here is recent Repo Rate by the Monetary Policy Committee.
Image from: https://tradingeconomics.com/south-africa/interest-rate
Capitec Rate October 2026
Capitec’s rate is 6.43% effective, 6.25% nominal for balances above R250k.
That is currently 1% (or 100 basis points to avoid confusion) lower than the interbank rate (repo rate).
In January 2025 the rate was 6.65% from Capitec which was 1.1% (or 110 basis points) lower than the Repo rate at the time which was 7.75%
I will be keeping an eye on them espescially since other providers like Standard Bank have an anytime access savings account called the MoneyMarket Select which gives much better rates. Currently 7.45% which is 0.2% (or 20 basis) points higher than the repo rate.