# Home Loan & Mortgage Calculator South Africa: What Your Loan Costs in Total

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**At today’s prime of 10.75%, a R 1 000 000 home loan over 20 years costs about R 2 436 549 in total — of which R 1 436 549 is interest**, on an instalment of about R 10 152 a month. Use this home loan calculator to see how the term, the rate and the fees change the full cost of your loan. In South Africa a mortgage is usually called a home loan or bond, so this works as a mortgage calculator too.

By [Neil B](https://bond.co.za/expert) · Checked against published primary sources · Published 2026-08-15 · Last verified 2026-10-26

Monthly repayment and total cost at prime (10.75%) over 20 years:

-   R 500 000 loan → R 5 076 per month, R 1 218 275 in total
-   R 1 000 000 loan → R 10 152 per month, R 2 436 549 in total
-   R 1 500 000 loan → R 15 228 per month, R 3 654 824 in total
-   R 2 000 000 loan → R 20 305 per month, R 4 873 099 in total

Updated 26 October 2026 · Prime effective 2026-09-25 (SARB). Estimates only — the rate you are offered depends on your credit profile, deposit and each bank’s assessment.

Estimate

## What would your home loan cost?

Adjust the loan amount, term and interest rate to see the monthly instalment and everything you repay over the term.

Loan amountR 1 500 000

Term20 years

Interest rate10.75% (prime)

Monthly repaymentR 15 228

Total repaid over 20 yearsR 3 654 824

Excludes bond registration and transfer costs. A quarter-percent rate difference on this loan changes the repayment by R 254 a month — which is why offers are worth comparing.

**Need the monthly repayment instead?** This page is about what a home loan costs in total over its life. For the monthly repayment on a specific purchase price and deposit, with a year-by-year amortisation schedule, use the [bond calculator](https://bond.co.za/bond-calculator).

## How much does a home loan cost in total?

The total cost of a home loan is the amount you borrowed plus every month’s interest over the full term. At prime (10.75%) over 20 years, a R 1 000 000 home loan costs about **R 2 436 549** in total — **R 1 436 549** of that is interest, more than the loan itself.

| Loan amount | Monthly | Total interest | Total repaid |
| --- | --- | --- | --- |
| R 500 000 | R 5 076 | R 718 275 | R 1 218 275 |
| R 1 000 000 | R 10 152 | R 1 436 549 | R 2 436 549 |
| R 1 500 000 | R 15 228 | R 2 154 824 | R 3 654 824 |
| R 2 000 000 | R 20 305 | R 2 873 099 | R 4 873 099 |

At 10.75% prime over 20 years, rounded for display; figures as at 9 October 2026. Costs before initiation fees, insurance and rates.

### What would banks offer someone like you?

Two questions, no contact details — we'll show the rate band and repayment you could realistically expect on your income.

Gross monthly household income

How are you employed?

## How is the total cost of a home loan worked out?

Start from the instalment, which comes from the standard reducing-balance (annuity) formula: instalment = P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r the monthly interest rate and n the number of monthly instalments. The total cost is that instalment × n, and the total interest is the total cost minus P. Because interest is charged on the outstanding balance, a longer term or a higher rate raises the total far more than it raises the instalment.

-   Assumed rate: prime (10.75%) unless you move the rate slider. Your actual rate will differ based on credit profile, deposit and bank pricing.
-   Monthly repayments in arrears; no deposit, fees, insurance or transfer/bond-registration costs included.
-   Affordability estimate applies an instalment cap of 30% of gross monthly income, or whatever is left after expenses, whichever is lower.
-   All totals are rounded to the nearest rand for display only; calculations keep full precision.

Figures verified 9 October 2026; prime last changed 2026-09-23. This is an informational estimate, not financial advice. Banks make the final offer.

## What interest rate do banks offer on home loans?

Major banks price home loans relative to prime, typically landing between 9.75% (prime − 1%) and 12.75% (prime + 2%) — and across originator-submitted bonds the average concession achieved is 0.67% below prime. Over a full term, that gap changes the total cost of the loan by far more than it changes the instalment, which is why it pays to compare more than one bank’s offer.

| Rate (R 1 000 000 over 20 yrs) | Typical profile | Monthly | Total cost |
| --- | --- | --- | --- |
| Prime − 1% (9.75%) | Best of the panel — strong profile, big deposit | R 9 485 | R 2 276 440 |
| Prime − 0.67% (10.08%) | Average concession achieved (ooba, 2026-10-03) | R 9 703 | R 2 328 787 |
| Prime (10.75%) | The standard starting rate | R 10 152 | R 2 436 549 |
| Prime + 2% (12.75%) | Weakest of the panel — thin profile, small deposit | R 11 538 | R 2 769 148 |

The band is illustrative, not a quote — individual banks may price outside it. Source: [bond.co.za illustration of published major-bank pricing, cross-checked with ooba Home Loans rate-concession reporting](https://www.ooba.co.za/resources/which-bank-has-lowest-interest-rate-on-home-loans/), 2026-10-03. Estimates rounded for display; figures as at 9 October 2026.

## How much more does a 30-year home loan cost?

Stretching the term lowers the monthly instalment but raises the total cost sharply. On a R 1 000 000 home loan at prime (10.75%), moving from 20 to 30 years cuts the monthly instalment by about R 817 — and adds about **R 923 983** in extra interest over the life of the loan.

| Term (R 1 000 000 at 10.75%) | Monthly | Total repaid | Extra interest vs 20 yrs |
| --- | --- | --- | --- |
| 20 years | R 10 152 | R 2 436 549 | — |
| 25 years | R 9 621 | R 2 886 278 | +R 449 729 |
| 30 years | R 9 335 | R 3 360 533 | +R 923 983 |

Assumes the rate stays at prime (10.75%) for the whole term; rounded for display, figures as at 9 October 2026. You can shorten the effective term any time by paying extra into the bond.

## What can you afford on your salary?

Banks start from a simple rule: your instalment should not exceed 30% of gross monthly income. At today’s prime of 10.75% over 20 years, that maps to these maximum bonds before expenses and deposits are considered.

| Gross monthly salary | Max instalment (30%) | Estimated max bond |
| --- | --- | --- |
| R 25 000 | R 7 500 | R 738 750 |
| R 40 000 | R 12 000 | R 1 181 999 |
| R 60 000 | R 18 000 | R 1 772 999 |
| R 100 000 | R 30 000 | R 2 954 998 |

Assumes no other debt and no deposit; disclosed expenses reduce what you can carry. See the [full affordability calculator](https://bond.co.za/home-loan-affordability-calculator) for your own numbers, or our guide to [how much home loan you can get on your salary](https://bond.co.za/guides/how-much-home-loan-can-i-get) for how banks assess it. Figures as at 9 October 2026.

## What does a home loan repayment not include?

The instalment is not the whole cost of a home loan. The estimates on this page leave out:

-   A once-off bank initiation fee of up to R 6 038 including VAT (the NCA maximum) — often capitalised into the loan.
-   A monthly account service fee of up to R 60 excluding VAT.
-   Compulsory building insurance, and any life or bond protection cover the bank requires.
-   Municipal rates and levies on the property, and transfer duty, conveyancing and bond-registration costs once when you buy — the [bond and transfer cost calculator](https://bond.co.za/bond-and-transfer-cost-calculator) prices those.

Sources: NCA Reg 42(2) Table B and Reg 44 (GN 1080, Government Gazette 39379), verified 9 October 2026. Banks may charge less. These figures are estimates, not an offer — banks decide after assessing your credit profile, and the rate is variable, so your actual instalment changes when prime changes.

## Related tools

-   Wondering what a rate hike would do to your repayment? [See the rand cost of a rate increase](https://bond.co.za/rate-increase-impact-calculator).
-   Ready to see what a bank would actually offer? [Start your free bond pre-approval](https://bond.co.za/home-loans/pre-approval).
-   Getting ready to apply? [Check the documents banks need for a home loan application](https://bond.co.za/guides/home-loan-documents-required-south-africa).
-   Building instead of buying? [Estimate building-loan repayments by drawdown stage](https://bond.co.za/construction-loan-calculator).

FAQ

## Common questions about home loan costs

Is a home loan calculator the same as a mortgage calculator?+

Yes. In South Africa a mortgage is usually called a home loan or a bond, so a mortgage calculator and a home loan calculator do the same job. This one shows the total cost and total interest over the term at today's prime rate of 10.75%; for the monthly repayment on a specific price and deposit, use the bond calculator.

How much interest do you pay on a R1 000 000 home loan?+

At today's prime rate of 10.75% over 20 years, a R 1 000 000 home loan accrues about R 1 436 549 in interest — more than the amount you borrowed. The same loan over 30 years accrues about R 2 360 533, which is why the term you choose matters as much as the rate.

What is the total cost of a R500 000 home loan?+

At today's prime rate of 10.75% over 20 years, a R500 000 home loan costs about R 1 218 275 in total, of which about R 718 275 is interest. At the average concession of 10.08% the total drops to about R 1 164 394.

Is it better to take a 20-year or 30-year home loan?+

A 30-year term lowers the monthly instalment — about R 9 335 versus R 10 152 on a R 1 000 000 loan at prime — but adds roughly R 923 983 in total interest. The better choice depends on whether you value a lower committed instalment now or a lower total cost over the life of the loan.

What income do you need to get a home loan in South Africa?+

There is no fixed minimum, but under the 30% instalment rule a gross monthly income of R 25 000 supports a bond of roughly R 738 750 at prime — the bank then checks your expenses, credit record and deposit.

What fees are added on top of a home loan?+

Banks may charge a once-off initiation fee of up to R 6 038 including VAT (the NCA maximum, often capitalised into the loan) and a monthly account service fee of up to R 60 excluding VAT. Buying also carries transfer duty, conveyancing and bond-registration costs — the bond and transfer cost calculator prices those for your purchase price.

Is there a home loan calculator based on salary?+

Yes — our home loan affordability calculator takes your gross income and monthly expenses and works backwards from the 30% instalment rule to the loan and purchase price you can carry.

Know the total cost?

## Check what you could qualify for

Free estimate on screen — no contact details needed. Then read how bond pre-approval works before you make an offer.

[Check what you qualify for](https://bond.co.za/#qualify)

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