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Home/Calculators/Bond Repayment Calculator

Bond Repayment Calculator

Calculate your monthly home loan repayment, total interest, and full amortisation schedule. Pre-filled with the current South African prime lending rate of 11.75%.

Updated March 2026 · SARS 2025/2026 rates

SA Prime Rate

Pre-filled with the current South African prime lending rate of 11.75%

Amortisation Schedule

See your full month-by-month repayment breakdown

Extra Payments

See how extra payments save you interest and shorten your bond

How to calculate your bond repayment in South Africa

To calculate your bond repayment, use the standard amortisation formula: M = P[r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount (purchase price minus deposit), r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (years × 12).

At the current South African prime rate of 11.75%, a R1,000,000 bond over 20 years costs approximately R11,158 per month, with total interest of approximately R1,677,856 — meaning you pay almost 2.7 times the original loan amount over the full term.

M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]

Bond Repayment Calculator

Enter your property details to calculate monthly repayments

R

The full purchase price of the property

R

Amount you are paying upfront (reduces your loan amount)

SA prime rate is 11.75%. Most bonds are prime or prime + margin.

Standard SA home loans are 20 years. Maximum is typically 30 years.

R

Additional amount paid monthly — reduces interest and shortens your bond

Ready to Calculate

Enter your property purchase price and details to see your monthly bond repayment, total interest, and full amortisation schedule.

Bond Repayment Calculator FAQ

Common questions about home loans and bond repayments in South Africa

The South African Reserve Bank (SARB) prime lending rate is 11.75% as of 2025. Most home loans (bonds) are priced at prime or prime plus a margin (e.g. prime + 1%). The prime rate is 3.5 percentage points above the repo rate. When the SARB Monetary Policy Committee (MPC) adjusts the repo rate, the prime rate changes by the same amount. Always confirm the current rate with your bank before making decisions.
South African banks apply a general rule that your total monthly bond repayment should not exceed 30% of your gross monthly income. This is sometimes called the "debt-to-income ratio" guideline. Banks also consider your total monthly debt obligations (car finance, credit cards, personal loans) — the total should ideally be under 40% of gross income. For example, if you earn R50,000 per month, a bank would typically approve a bond repayment of up to R15,000 per month, which at 11.75% over 20 years equates to a bond of roughly R1,340,000.
Bond interest is calculated daily on the outstanding balance. Every extra rand you pay goes directly toward reducing your principal (the outstanding capital). A lower principal means less interest accrues each month, which means more of each future payment reduces the principal — creating a compounding benefit. Even R500 per month extra on a R1,000,000 bond at 11.75% over 20 years saves approximately R291,000 in interest and cuts nearly 4 years off the term.
Beyond the purchase price and deposit, South African home buyers face several additional costs: (1) Transfer duty — paid to SARS on properties above R1,100,000, ranging from 3% to 13%. (2) Transfer attorney fees — typically R20,000–R50,000 depending on the purchase price. (3) Bond registration costs — the bank's attorney charges to register the bond, typically R15,000–R40,000. (4) Bond initiation fee — usually around R6,000. (5) Property valuation — approximately R1,500–R3,000. Budget for roughly 8–10% of the purchase price in additional costs.
In South Africa, "bond" is the everyday term for what is legally called a mortgage bond — the legal agreement that gives the bank a security interest over your property in exchange for lending you money to buy it. The words are used interchangeably in South Africa. "Mortgage" is the internationally recognised term used in most other countries. When South Africans say they are "paying off their bond", they mean they are making monthly home loan repayments. The legal mechanism is identical — a mortgage over the title deed registered at the Deeds Office.
Extra payments can significantly shorten your bond term. For example, on a R1,000,000 bond at 11.75% over 20 years: the standard monthly repayment is about R11,158. Paying an extra R500 per month (total R11,658) reduces the term to approximately 16 years and 2 months — saving nearly 4 years and about R291,000 in interest. Paying an extra R1,500 per month (total R12,658) reduces the term to about 13 years and saves over R500,000 in interest. The earlier in the bond term you make extra payments, the greater the saving, since interest is higher when the balance is large.

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Important Disclaimer

Accounter does not provide accounting, tax, business or legal advice. This calculator has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.