Home Loan Calculator South Africa
Calculate your monthly bond repayment, total interest, and check if you can afford a home loan. Updated with the current South African prime lending rate of 10.25%.
Bond Repayment Calculator
Property Price
Deposit
Deposit: R150 000
Interest Rate
Current SA prime rate: 10.25%. Most banks offer prime or prime minus a discount.
Loan Term
Affordability Check (Optional)
Banks typically approve bond repayments up to 30% of gross monthly income.
Your Results
Amortization Summary
See how your bond balance reduces over time and how much goes to interest vs principal.
| Period | Principal Paid | Interest Paid | Remaining Balance | % Paid Off |
|---|---|---|---|---|
| After 1 year | R21 650 | R137 377 | R1 328 350 | 1.6% |
| After 5 years | R134 148 | R660 983 | R1 215 852 | 9.9% |
| After 10 years | R357 617 | R1 232 645 | R992 383 | 26.5% |
Affordability Quick Reference
Based on 30% of gross income at 10.25% interest over 20 years with 10% deposit.
| Monthly Income | Max Repayment | Max Property Price |
|---|---|---|
| R20 000 | R6 000 | R679 133 |
| R30 000 | R9 000 | R1 018 700 |
| R40 000 | R12 000 | R1 358 267 |
| R50 000 | R15 000 | R1 697 833 |
| R60 000 | R18 000 | R2 037 400 |
| R80 000 | R24 000 | R2 716 533 |
| R100 000 | R30 000 | R3 395 666 |
| R150 000 | R45 000 | R5 093 499 |
How Much Can I Afford?
Enter your gross monthly income to find out the maximum property price you could qualify for, based on the 30% affordability rule used by South African banks.
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Frequently Asked Questions
What is the current prime lending rate in South Africa?
The current prime lending rate in South Africa is 10.25% (as of March 2026). The prime rate is calculated as the repo rate (6.75%) plus 3.5%. Most home loans are offered at prime or prime minus a discount, depending on your credit profile, income stability, and deposit amount. A strong application with a 10-20% deposit can secure a rate of prime minus 0.5% to prime minus 1.5%.
How much deposit do I need for a home loan in South Africa?
While some South African banks offer 100% home loans (no deposit required), having a deposit of 10-20% significantly improves your chances of approval and can secure a better interest rate. First-time buyers earning under R600,000 per year may qualify for 100% bonds, but a deposit reduces your monthly repayment and total interest paid over the life of the loan.
What costs are involved in buying a house besides the bond repayment?
When buying a house in South Africa, additional costs include transfer duty (a tax on properties above R1,210,000), conveyancing attorney fees, deeds office registration fees, bond registration costs, bond initiation fees (approximately R6,000), and rates clearance certificates. These once-off costs typically add 8-10% to the purchase price. Use our Property Transfer Duty Calculator for a detailed breakdown.
Can I pay off my home loan early in South Africa?
Yes, you can pay off your home loan early in South Africa. Under the National Credit Act, you have the right to settle your bond at any time. The bank may charge an early termination fee of up to three months' interest on the outstanding balance. Making extra monthly payments or lump sum payments can significantly reduce your total interest and loan term. Even an extra R500 per month can save you hundreds of thousands in interest.
What percentage of my income should go towards a home loan?
South African banks typically use 30% of your gross monthly income as the maximum bond repayment they will approve. However, the National Credit Act requires that your total debt repayments (including car loans, credit cards, and other debts) should not exceed 40-50% of your gross income. Financial advisors recommend keeping your bond repayment below 25-30% of gross income to maintain a comfortable lifestyle and savings buffer.
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