Interest Rates: The Basics & What You Need To Know

In today’s episode, Warren Ingram invites well-known financial guru, Maya Fisher-French to discuss interest rate basics. Warren and Maya speak about how interest rates work, repo rates, prime interest, fixed vs Flexi interest rates, and more on how the banks incorporate interest rates in your loans, credit cards, and other debts. 

Questions/ Topics: 

1. When we talk about interest rates, what does this mean? 
2. When inflation goes up, what does this mean? 
3. What is a Repo-Rate? 
4. What does Prime Interest Rate mean? 
5. How do repo rates and interest rates link? 
6. Are there caps on the rate a bank can charge you on personal loans/ credit cards etc? 
7. What does an “informal market” mean? 
8. How does an increase in interest rates through the banks work? 
9. Do I keep my interest rates flexible or should I keep it fixed? 

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Have a question for Warren? Don't forget to voice note your questions through our WhatsApp chat on (+27)79 807 8162 and you could be featured in one of our episodes. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod