Bond Repayment Calculator

Our bond repayment calculator will help you calculate how much you can expect to  spend on montly bond repayments. 

What will my monthly repayment be?

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Although every effort has been made to ensure the accuracy of our calculators, ooba (Pty) Ltd. and its subsidiaries accept no liability in respect of any errors contained herein. Under no circumstances will ooba (Pty) Ltd and its subsidiaries be liable for any loss or damages whatsoever arising from the use of this calculator.

If you’re about to put in an offer for a home, you’ll know just how much thought goes into this big decision. As part of the planning process, you’ll have to work out how much your bond will cost you every month. Our handy bond repayment calculator simplifies this important step.

The final monthly amount you’ll be repaying depends on these four factors: 

Purchase price

The higher the purchase price of your dream property, the more you’ll have to put towards your bond every month. 

Repayment time

Most new bonds are for 20 years, but this isn’t set in stone. The faster you pay off your home loan, the less interest you’ll pay on the bond, and the more you’ll save in the long run.

Interest rate

This is the rate at which the bank lends you money. Remember that you can negotiate this. While every bank has their own rules and regulations, there’s no harm in asking for a lower interest rate. Even half a percent under the normal interest rate will make a difference to your monthly payments. 

Deposit

Most banks require a 10% deposit towards the property you’re about to purchase. The bigger the deposit, the smaller the repayment, as our bond repayment calculator below will show you. 

 

We know that putting extra cash into the bond can be difficult at first. But even if you only start doing it later down the line, it’s worth it. Paying in an extra R1000 or R2000 a month can cut years off the time it takes to pay back your bond. Play around with the bond repayment calculator to see what a difference it makes, or contact ooba for expert advice.

Congratulations!

Now that you’ve seen what your monthly repayments will be, you can proceed to pre-qualify for a loan.

If you would like to have your dream home with smaller monthly repayments, shorter repayment period, or if you wish to negotiate a higher loan option, feel free to contact an ooba expert today.