How the repayment is worked out
The calculator uses the standard formula for a loan repaid in equal monthly amounts: the loan amount, the monthly interest rate (the yearly rate divided by 12) and the number of months. Banks calculate it the same way. Your real repayment also includes the bank's monthly service fee, at most R69, and any insurance the bank asks for.
Which rate to use
The box starts at prime, 10.75% since 23 September 2026. Banks price each person differently, so your rate can be below or above prime. A rate 0.5% lower on a R1.5m bond over 20 years saves about R504 a month.
Paying it off faster
Paying more than the instalment goes straight to the capital, and the interest you'd have paid on it falls away. Most banks let you pay in extra at any time and draw it back if you need it.
Questions people ask
What is the repayment on a R1 million bond?
At prime (10.75%) over 20 years, about R10 152 a month. Over 30 years, about R9 335. Both before the bank's monthly service fee.
What is the repayment on a R2 million bond?
At prime (10.75%) over 20 years, about R20 305 a month.
Is a 30-year bond a good idea?
It lowers the monthly repayment but you pay much more interest over the life of the loan. Some people take 30 years for the lower instalment and pay extra in when they can.
Where this comes from
- South African Reserve Bank, current market rates (policy rate 7.25%, prime 10.75%) (read 11 Oct 2026, figures dated 9 Oct 2026)
- National Credit Act regulation 44, maximum service fee (GN 1080 of 2015)
- Standard Bank, home loans pricing guide 2026 (effective 1 Jan 2026)
Checked October 2026.