What is the current prime lending rate in South Africa?

The SARB prime lending rate is currently 11.00%. Banks typically lend home loans at prime, prime minus a small discount for strong applicants, or prime plus a margin for higher-risk borrowers. The calculator defaults to prime but you can enter any rate your bank offers.

How much does an extra R 500 a month save on a bond?

On a typical R 2 million bond at prime over 20 years, an extra R 500 paid every month saves roughly R 250,000 in interest and shortens the loan by about 2 years. The calculator lets you compare up to three different extra-payment scenarios side by side.

What is the bond initiation fee?

The initiation fee is a once-off bank fee capped by the National Credit Act at R 6,037.50 (incl. VAT). Most banks charge close to the maximum on home loans. You can either pay it upfront or have it added to the bond, which the calculator models if you toggle that option on.

Financing · Calculator

Your bond, repaid — month by month.

Standard PMT amortisation, current prime, and a side-by-side view of what an extra R 500 a month does to your total interest and your loan term.

Prime 11.00%NCA initiation fee3 extra-payment scenarios

Bond Repayment Calculator

Estimate your monthly home loan repayment and see how extra payments can save you interest.

Purchase Price

Deposit

Interest Rate(prime = 11%)

Loan Term

20 years25 years30 yearsCustom

Include initiation fee in loan

NCA maximum: up to R 6,038 added to loan amount

Extra Monthly Payment(optional — see how it saves interest)

How it works

How the calculator works

The calculator uses the standard PMT amortisation formula — the same calculation banks use — to derive the monthly instalment from your loan amount, interest rate, and term. It then runs a full month-by-month amortisation to compute the actual total interest paid over the life of the loan.

Extra-payment scenarios are simulated by adding the extra amount to the contractual instalment each month until the bond is settled. The calculator reports how much interest you save and how many months shorter the loan becomes.

Defaults you can change

Interest rate defaults to prime (11.00%)
Loan term defaults to 20 years (240 months)
Monthly service fee fixed at R 69 (industry standard)
NCA initiation fee is off by default — toggle on to add it to the loan principal

Transfer Cost Calculator

Upfront transfer + bond registration costs combined.

Bond Cost Calculator

Bond registration cost on its own.

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