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Usury Act, 1968

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To provide for the limitation and disclosure of finance charges levied in respect of money lending transactions, credit transactions and leasing transactions and for matters incidental thereto; and to repeal the Usury Act, 1926.


Last update: March 2008

Copyright: This Act reproduced under Government Printers Copyright Authority 10154 dated 20 March 1996

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Latest Developments:


The Usury Act, 1968 (Act No. 73 of 1968) has been amended.


This Act has been updated by the addition of Notice No. 166 – annual finance charge rates- printed in Government Gazette No. 29661 dated 26 February 2007.


The Act has been updated by Government Notice No. 992 of 2003 and Government Notice No. 3368 of 2003.

The Act has been amended by the Usury Amendment Act, 2003 (10 of 2003) as gazetted in GG 24819 dated 30 April, 2003.

A schedule on the "Prohibition on the use of Personal Information as Security or Collection Arrangements" has been added to the Act as gazetted on 13-12-00 in GG 21893 as Notice R6959 of 2000. This prohibits the use of pin codes, bank cards, etc., as security.

Notice of intention to increase the ceiling of R6,000 to R10,000 has been given by Alexander Erwin. Written representations regarding the intended increase may be directed to: The Registrar: Usury Act, For Attention: Ms M Davis, Private Bag X84, Dept. of Trade and Industry, Pretoria, 0001, within 30 days of the 8 September 2000.

The "Report on Costs and Interest Rates in the Small Loans Sector" as published in Notice No. 706 dated 21 July 2000, has been added to the Act.

Notice R.259 dated 2 March 2000, regarding the determination of the Annual Finance Charge Rates, has been added to the Act, in accordance with section 2 of the Act.

Notice No 713 has been amended by a change of date from the "1 August 1999" to "15 September 1999" and MICRO FINANCE REGULATORY COUNCIL has been approved as a regulatory institution, as published in Gazette 20307 dated 16 July 1999.