Bond Calculator (South Africa)

Work out your monthly bond repayment in Rand, the total interest you will pay over the life of the loan, and what happens when you pay a little extra every month. Enter the purchase price, your deposit, the interest rate and the bond term. Nothing is saved or shared.

How the bond repayment is calculated

The monthly instalment is the standard amortising home-loan formula: the bond amount (purchase price less your deposit) repaid in equal monthly instalments over the term, at the annual interest rate divided by twelve. Every extra Rand you add each month goes straight against the outstanding balance, so it reduces the interest charged for every remaining month — which is why a small extra payment saves a large amount of interest and can knock years off the term.

Things this calculator does not include

• Bond registration, transfer duty and attorney costs paid on purchase.
• Home-owner's insurance, levies, municipal rates and maintenance.
• Future interest-rate changes — South African bonds are usually linked to prime.

Results are estimates for planning purposes. Your bank's final quote will be based on your credit profile and the rate they offer you.

Next steps

Buying to rent out? Use the buy-to-let calculator to check cash flow and rental yield. To track bonds, values, rent and documents across a whole portfolio, PROPTRAC keeps everything in one place.