Deposit savings calculator
See how long it will take to save for a deposit at the rate you can manage.
- Deposit needed
- You save
- Interest earned
This calculator gives an estimate only, for general information. It isn't financial, tax or legal advice. Your bank, attorney, SARS or a tax practitioner confirms the final amounts.
How this is worked out
Your savings grow each month by your contribution and by one twelfth of the yearly interest rate. The calculator counts the months until the balance reaches the deposit you want, which is the percentage you chose of the price.
This doesn't include transfer costs, which you normally also pay in cash. The transfer and bond costs calculator shows how much to add to your target.
Questions people ask
How much deposit do I need?
There's no fixed rule. Some banks lend up to the full price to buyers who qualify, but a deposit lowers your repayment, reduces the interest you pay, and can improve the rate you're offered.
Where should I keep my deposit savings?
Many people use a notice or fixed deposit account, or a low-risk unit trust, depending on how soon they plan to buy. A financial adviser can help you choose.
What can I do to reach it sooner?
Increase your monthly saving, even a little, and add bonuses or tax refunds. Try different amounts above to see how much time you save.