Bond repayment calculator
See what your monthly home loan repayment could be for a given price, deposit and interest rate.
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
The repayment is the fixed monthly amount that pays off the loan, with interest, by the end of the term. In the early years most of each payment goes to interest. Later on, most of it goes to the amount you owe.
The loan is the purchase price less your deposit. Interest is charged monthly at one twelfth of the yearly rate.
Questions people ask
Is this the amount my bank will charge?
It's an estimate. Your bank sets your interest rate from your credit record and deposit, and usually adds a small monthly service fee. Homeowner's insurance and any life cover come on top.
How much does a deposit change my repayment?
Every rand of deposit is a rand you don't borrow, so the repayment falls and you pay less interest overall. A deposit can also help you get a better rate. Try different amounts above to see the effect.
Should I choose 20 or 30 years?
A longer term lowers the monthly repayment, but you pay interest for longer, so the total cost is higher. Change the loan term above to compare the two.
What happens if the interest rate changes?
Most South African bonds have a variable rate, so your repayment moves when the rate does. The interest rate change calculator shows what a change would cost you.