Capped Interest Rate
Capped interest rate South Africa is such a factor which is created to make things easier for the customers. The basic idea behind this kind of interest rate is to provide enough freedom and fluctuation to people for repaying the loan. For instance, if a loan has been issued to the borrower at a rate of 6% with the capped rate of 9%, it means that the borrower will be allowed to pay an interest rate between 6% and 9% but not more than 9%. This interest rate provides a nice combination of fixed and variable rates of interest.
The fixed part is in the capped interest South Africa and the variable depends upon the ability of the interest to move up and down at par with the fluctuation of the market. Our company provides a nice and affordable capped interest rate to the borrowers. If you are still confused about the rate and other aspects, you can call our expert team and ask for advice.