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10% of purchase price
SA prime rate is currently 10.25%. Your bank may offer prime minus 0.5% to prime plus 2%.
💡 SA tip: Ask your bond originator (ooba, BetterBond) for a rate below prime. A 0.5% reduction on a R1.5M bond saves over R150,000 in interest.
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Interest vs principal breakdown
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Outstanding balance over time
Annual amortization schedule
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Frequently asked questions
What is the current SA prime lending rate?
The South African Reserve Bank (SARB) sets the repo rate, and commercial banks lend at prime = repo + 3.5%. As of early 2025, the prime rate is 10.25% (repo rate 6.75%). Your bank may offer you prime minus 0.5% to prime plus 2% depending on your credit profile and the size of your deposit.
How much deposit do I need for a home loan in SA?
South African banks typically require a deposit of 10% of the purchase price for a standard home loan, though some first-time buyer products allow 0% deposit (100% bond). A larger deposit reduces your monthly payment, lowers your interest rate offer, and reduces the total interest you pay over the bond term.
What does a bond originator do and are they free?
Bond originators like ooba and BetterBond apply to multiple banks on your behalf and negotiate the best interest rate. Their service is completely free — they are paid by the bank that grants your bond. Using a bond originator typically gets you a better interest rate than applying to one bank directly.
What is the maximum bond I can qualify for?
South African banks generally allow your total monthly debt repayments (including the new bond) to be no more than 30% of your gross monthly income (debt-to-income ratio). Use our Affordability Calculator to find your maximum bond amount based on your income and existing debts.
Can I pay extra into my bond to pay it off faster?
Yes — and it's one of the best financial decisions you can make. South African home loans are structured so that extra payments go directly to reducing your principal balance, which reduces the interest calculated the following month. Even R500/month extra on a R1.5M bond can save over R200,000 in interest and cut 3 years off your bond term. Use our Extra Payments Calculator to model this.