Home Loan Repayment

How do I use the BetterBond home loan repayment calculator?

A home loan repayment calculator helps you see, in plain numbers, what your monthly bond repayment might look like after your loan is approved. It’s the fastest way to check affordability, compare interest rates or loan repayment terms, and decide how much deposit you’ll need.

Calculate and compare in five easy steps

1. 1.Enter the purchase price: the price of the property you want to buy (type the full amount, e.g. R1,000,000).
2. 2.Enter the bond amount: the amount you plan to borrow. If you know your deposit, subtract it from the purchase price to get the bond amount.
   Example (digit-by-digit):
   • Purchase price = R1,000,000
   • Deposit (10%) = R100,000
   • Bond amount = R1,000,000 − R100,000 = R900,000
   Enter R900,000 as the bond amount.
3. 3.Enter the interest rate (as a percent). For a rough check, use the bank’s advertised rate or the rate your bond originator quotes. We’ve pre-loaded the calculator with the current prime interest rate to help you with this step.
4. 4.Enter the repayment term (years): the calculator uses 20 years (240 months) as a common default but you can change it to see the impact on your monthly and total repayments.
5. 5.Click Calculate. The calculator will show three results:
   • Total monthly repayment: what you’d pay each month.
   • Total amount repayable: the total you’ll pay over the full loan term.
   • Total bond and transfer cost: the once-off registration or transfer costs.

Pro tip: Try changing one thing at a time (interest rate, deposit or term) to see how your monthly repayment changes. This will help you compare scenarios quickly and easily.