An amortisation schedule shows how each bond repayment is split between interest and capital over the life of the loan, and how your outstanding balance reduces year by year. Enter your bond amount, interest rate and term to see the full breakdown.
The table below shows a year-by-year breakdown, assuming your interest rate stays the same for the full term.
| Year | Balance at start | Capital repaid | Interest paid | Balance at end |
|---|
This schedule assumes a constant interest rate and that every repayment is made on time and in full. In reality, most South African home loans have a variable rate, so your actual balance and interest paid will differ as rates change.
How to use your amortisation schedule
Understanding your schedule can help you make smarter decisions about your home loan.
Interest is front-loaded
In the early years of your bond, a larger share of each repayment goes towards interest rather than capital, because interest is calculated on the (still high) outstanding balance. This is normal and is how all reducing-balance loans work.
Extra payments matter most early on
Because of front-loaded interest, extra payments made earlier in the loan term reduce more total interest than the same extra payment made later. Use our Extra Payments Calculator to see the effect.
Recalculate after a rate change
When your bank changes your interest rate, your remaining schedule changes too. Re-run this calculator using your current outstanding balance, new rate and remaining term to get an updated picture.
Keep a copy for your records
An amortisation schedule can be useful when budgeting, applying for further finance, or estimating how much equity you have built up in your property at a given point in time.
Frequently asked questions
What does the amortisation schedule show?
For each year of your loan term, it shows your balance at the start of the year, how much of that year's repayments went towards interest, how much went towards reducing the capital you owe, and your balance at the end of the year.
Why do I pay more interest in the early years?
Interest is charged on your current outstanding balance. Early on, that balance is close to the full loan amount, so a larger portion of each repayment covers interest. As the balance shrinks over time, more of each repayment goes towards capital.
What happens if my interest rate changes?
This schedule assumes a single, constant interest rate for the full term. If your rate increases, your monthly repayment (or your remaining term) will need to increase to still repay the loan on schedule. If your rate decreases, the opposite applies. Re-run the calculator with your new rate and current balance to see the updated picture.
How can I use this to plan extra payments?
Compare the "capital repaid" column across different years to see how slowly your balance reduces early on. Then try our Extra Payments Calculator to see how directing additional funds towards your bond, especially in the earlier years, could shorten your term and reduce total interest.
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