South Africa 2026
This bond repayment calculator gives you the exact monthly home loan cost for any South African property - enter your purchase price, deposit, interest rate, and term to see your repayment, total interest paid, and a full amortisation schedule. Toggle the early settlement analysis to see how much time and interest extra payments save.
Current prime: 10.5%
NCA cap: R6,037.50 - can be added to bond
Monthly Repayment
R 16,034
R 1,606,038 bond · 20 yr · 10.5% interest
Total InterestThe total interest charged over the full bond term - the cost of borrowing, above the principal amount.
R 2,242,208
Total CostEverything you'll repay - the loan amount (purchase price minus deposit, plus initiation fee) plus all interest over the full term.
R 3,848,245
Eff. RateYour actual annual rate after adding the initiation fee to the loan. Slightly above your quoted rate because the fee increases the amount borrowed.
10.56%
incl. fee
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | R 16,034.36 | R 1,981.53 | R 14,052.83 | R 1,604,055.97 |
| 2 | R 16,034.36 | R 1,998.87 | R 14,035.49 | R 1,602,057.11 |
| 3 | R 16,034.36 | R 2,016.36 | R 14,018.00 | R 1,600,040.75 |
| 4 | R 16,034.36 | R 2,034.00 | R 14,000.36 | R 1,598,006.75 |
| 5 | R 16,034.36 | R 2,051.80 | R 13,982.56 | R 1,595,954.96 |
| 6 | R 16,034.36 | R 2,069.75 | R 13,964.61 | R 1,593,885.21 |
| 7 | R 16,034.36 | R 2,087.86 | R 13,946.50 | R 1,591,797.35 |
| 8 | R 16,034.36 | R 2,106.13 | R 13,928.23 | R 1,589,691.22 |
| 9 | R 16,034.36 | R 2,124.56 | R 13,909.80 | R 1,587,566.66 |
| 10 | R 16,034.36 | R 2,143.15 | R 13,891.21 | R 1,585,423.51 |
| 11 | R 16,034.36 | R 2,161.90 | R 13,872.46 | R 1,583,261.61 |
| 12 | R 16,034.36 | R 2,180.82 | R 13,853.54 | R 1,581,080.80 |
South African home loans are amortising loans - each monthly payment covers both interest and a portion of the principal. In the early years, most of your payment goes to interest; this shifts over time as the balance reduces.
On a 20-year bond at 10.25%, roughly 85% of your first payment is interest. By month 200, less than 30% is interest. The amortisation schedule below shows this shift month by month.
This calculator adds the initiation fee to the loan amount by default, which is standard practice in South Africa. The National Credit Act caps this fee at R6,037.50 (incl. VAT). You can enter R0 to pay it upfront instead.
Note: the bond amount does not include transfer duty, conveyancing fees, or bond registration costs - these are separate once-off costs paid at registration. Use the Transfer Duty Calculator to estimate your full transaction costs.
Even small additional payments have a dramatic effect over time. On a R1,600,000 bond at 10.25% over 20 years, paying an extra R1,000 per month saves approximately 3 years and over R250,000 in interest.
The earlier you start, the greater the benefit - extra payments reduce your outstanding balance, which reduces the interest charged on every subsequent month. Use the early settlement toggle above to run your own numbers.
Rates verified May 2026. Updated after each SARB MPC meeting.
Your monthly repayment is calculated using the standard loan amortisation formula: M = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments.
The current prime lending rate is 10.5% (verified May 2026). Most home loans are priced at prime or prime plus a small margin.
Most South African banks require a deposit of 10-20% of the purchase price, though 100% bonds are sometimes available to qualifying buyers with excellent credit.
Banks charge a once-off initiation fee - currently capped at R6,037.50 (incl. VAT) under the National Credit Act. It can be added to the bond amount or paid upfront.
You can reduce repayments by negotiating a lower interest rate, extending your loan term, or making a larger deposit. Paying extra each month also reduces your term and total interest significantly.
An amortisation schedule shows the breakdown of each monthly payment into interest and principal. In the early years, most of your payment covers interest. As the balance reduces, more of each payment goes to principal.
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