Bond repayment at today’s prime rate, and after a move
This bond repayment calculator uses prime at 10.75%: R1,500,000 over 20 years costs R15,228 a month. Enter your amount, term and margin.
Example: a R1,500,000 bond over 20 years· change a figure to see yours
Monthly instalment
R15,228
at 10.75% over 20 years
| If the MPC hikes 0.25% | R15,483 (+R254) |
| If the MPC cuts 0.25% | R14,976 (-R253) |
| Interest over the term | R2,154,824 |
Equal monthly payments, interest at the current rate for the whole term. Bank fees and life cover not included.
Compiled by Radif Partners · How the estimate is made
A South African home loan, or bond, is usually repaid in equal monthly instalments at a variable rate linked to prime. The instalment depends on three things: the amount, the term and the rate. At prime of 10.75%, in force since 25 September 2026, a R1,500,000 bond over 20 years costs R15,228 a month; over 30 years it would cost R14,002 a month but far more interest in total. Over 20 years at this rate you would pay R2,154,824 of interest on top of the capital. In the first month, R13,438 of the instalment is interest and only R1,791 reduces the debt. Each 0.25% move in the repo rate passes to prime and changes this instalment by about R254 a month. The next Monetary Policy Committee decision is announced on 19 November 2026. Bank fees, bond registration costs and insurance are not included.
Bond repayment by amount and term
The table gives the monthly instalment at prime for common bond amounts over 20 and 30 years, and the total interest over 20 years.
| Bond | 20 years | 30 years | Interest over 20 years |
|---|---|---|---|
| R750,000 | R7,614 | R7,001 | R1,077,412 |
| R1,000,000 | R10,152 | R9,335 | R1,436,549 |
| R1,500,000 | R15,228 | R14,002 | R2,154,824 |
| R2,000,000 | R20,305 | R18,670 | R2,873,099 |
| R3,000,000 | R30,457 | R28,004 | R4,309,648 |
How the instalment is calculated
The calculator uses the standard formula for equal monthly payments: the monthly rate is the annual rate divided by 12, and the instalment is the amount that clears the debt exactly after the last month, interest included. It assumes the rate stays where it is. In practice prime moves with the repo rate, and the bank recalculates your instalment each time over the remaining term.
The term matters as much as the rate. Moving from 20 to 30 years cuts the R1,500,000 instalment from R15,228 to R14,002, but the total interest rises from R2,154,824 to R3,540,799.
The decision of 19 November and your bond
Example: a R1,500,000 bond at prime· change a figure to see yours
Change in your instalment
+R254
repo 7.50%, prime 11.00% (now 7.25% and 10.75%)
| Instalment now | R15,228 |
| Instalment after | R15,483 |
| Over a year | +R3,053 |
Bond repayment and the fuel bill
For many households the bond and the fuel bill are the two costs that move with decisions made elsewhere. In December 2026 they may move in opposite directions: the petrol estimate points to -R2.32 a litre on 95, about R163 less a month for a 880 km commute, while a 0.25% hike would add R254 to the example bond. The repo rate page gives the history of decisions, and the MPC dates the calendar.