Bond & Home Loan Repayment Calculator — South Africa 2026
Calculate your monthly repayment, total interest, transfer duty, and all upfront purchase costs. Current SA prime rate: 10.50%.
Last updated: May 2026
Property Details
Affects transfer duty calculation.
Calculates your monthly home loan repayment, total interest paid, transfer duty, and all upfront purchase costs based on purchase price, deposit, interest rate, and loan term.
Key inputs explained
- Purchase price
- The full price of the property, including VAT if applicable.
- Deposit
- Amount you pay upfront. A larger deposit reduces your loan amount and monthly repayment.
- Interest rate
- Your home loan rate — typically prime rate plus or minus a margin negotiated with your bank.
- Loan term
- Standard SA home loans run 20 years. A shorter term means higher monthly payments but significantly less interest paid overall.
A 1% drop in interest rate on a R1.5M bond over 20 years saves roughly R180 000 in interest — it pays to shop around or negotiate with your bank.
Frequently Asked Questions
Your monthly bond repayment is calculated using the standard annuity formula: P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments. For a R1.5M bond at 10.25% over 20 years, this gives a monthly repayment of approximately R14,700.
The current SA prime lending rate is 10.25% (as of May 2026). Most home loans are priced at prime rate plus or minus a margin negotiated with your bank — typically prime minus 0.25% to prime plus 1% depending on your credit profile and the size of your deposit.
South African banks typically require a deposit of 10% to 20% of the purchase price. A larger deposit reduces your loan amount, your monthly repayment, and the total interest you pay over the life of the loan. First-time buyers may qualify for 100% bonds from some lenders, though this depends on income and credit score.
Transfer duty is a tax paid to SARS when a property is transferred to a new owner. Properties under R1,100,000 are exempt. Above that, rates range from 3% to 13% on a sliding scale. For example, a R2M property attracts approximately R55,000 in transfer duty. New developments sold by VAT-registered developers are exempt from transfer duty but attract 15% VAT instead (included in the purchase price).
Beyond the deposit and transfer duty, budget for: bond registration costs (attorney fees of roughly 1%–1.5% of the loan amount), bond initiation fee (capped at R6,037.50 by the NCA), conveyancing attorney fees, and a monthly service fee of around R69. Total upfront costs on a R1.5M property can easily reach R80,000–R130,000 above the deposit.
Yes — significantly. On a R1.5M bond at 10.25% over 20 years, paying an extra R1,000 per month reduces the term by roughly 4 years and saves approximately R280,000 in total interest. This is because extra payments go directly to reducing the outstanding principal, which is what interest is calculated on each month.
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