Find out roughly what your monthly bond repayment could be. Enter the purchase price of the property, the deposit you plan to put down, the interest rate and the loan term to see your estimated monthly instalment and the total cost of the loan.
Estimates only. Actual repayments depend on the interest rate offered by your bank and how it changes over the loan term.
This calculator gives an estimate of your monthly bond repayment based on the figures you enter. It does not take into account credit checks, bank fees, insurance or rate changes.
Tips before you apply for a home loan
A repayment estimate is a useful starting point, but a bit of preparation can save you time and money once you start the application process.
Get pre-approved
A pre-approval certificate from a bank or bond originator shows estate agents and sellers that you are a serious, qualified buyer, and gives you a realistic budget before you start viewing properties.
Shop around for the best rate
Banks compete for home loan business. Applying through a bond originator lets multiple banks quote on your loan, and even a small difference in interest rate can save you tens of thousands of rand over the term.
Stress-test your budget
Interest rates move with the South African Reserve Bank repo rate. Try this calculator with a rate 1-2% higher than the current rate to make sure your budget can handle an increase.
Remember the extra monthly costs
Your bond repayment is only one part of homeownership. Budget separately for rates and taxes, levies (if applicable), homeowner's insurance and life cover required by the bank.
Frequently asked questions
How is my monthly bond repayment calculated?
Your repayment is calculated using the standard loan amortisation formula, which spreads the bond amount plus interest evenly over the number of months in your loan term. Each month a portion of the payment goes towards interest and the rest reduces the capital (the amount you still owe).
What interest rate should I use?
South African home loans are usually priced relative to the prime lending rate, for example "prime" or "prime minus 0.5%". Use the rate you have been quoted, or the current prime rate as a starting estimate, and try a few different rates to see how sensitive your repayment is to changes.
Does a bigger deposit reduce my repayments?
Yes. A larger deposit reduces the amount you need to borrow, which directly lowers your monthly repayment and the total interest you pay over the life of the loan. A bigger deposit can also help you qualify for a better interest rate.
Will my repayment stay the same for the whole term?
Only if you have a fixed-rate agreement, which is uncommon and usually only available for a limited period. Most South African home loans have a variable interest rate, so your repayment will go up or down whenever your bank adjusts its lending rate in line with the repo rate.
Explore our other calculators
Bond Affordability Calculator
See how much you could afford to borrow based on your income and monthly expenses.
Transfer Cost Calculator
Estimate transfer duty, conveyancing fees and bond registration costs when buying a home.
Extra Payments Calculator
Find out how much time and interest you could save by paying extra into your bond every month.
Deposit Savings Calculator
Calculate how much you need to save each month to reach your home deposit goal.
Amortisation Calculator
See a year-by-year breakdown of how your bond balance reduces over the life of the loan.