How much is the monthly repayment on a R1.5 million home loan at 10.75% prime?
A R1.5 million home loan repaid over 20 years at prime of 10.75% costs about R 15 228 a month. Prime has been 10.75% since 25 September 2026, when the SARB's 23 September 2026 MPC decision raised the repo rate by 25 basis points to 7.25%. The figure is a bond.co.za calculation on a standard reducing-balance basis, with interest compounded monthly; bank fees and insurance are extra.
The term changes the monthly figure sharply — and the total interest even more so. Over 20 years you would pay about R 2 154 824 in interest on top of the loan; over 30 years, about R 3 540 799. All at 10.75% prime, as at 25 September 2026:
| Term | Monthly repayment at 10.75% | Total interest |
|---|---|---|
| 15 years | R 16 814 | ≈ R 1 526 560 |
| 20 years | R 15 228 | ≈ R 2 154 824 |
| 30 years | R 14 002 | ≈ R 3 540 799 |
What does a deposit save on a R1.5 million home loan?
A deposit shrinks the loan you need — and with it the repayment and the salary banks want to see. Under the 30% affordability rule, your instalment should stay at or below 30% of your gross monthly income, so each deposit tier below also shows the monthly salary that roughly supports it. All figures at 10.75% prime over 20 years, as at 25 September 2026(bond.co.za calculation):
| Deposit | Home loan | Monthly repayment | Saving / month | Salary needed (30% rule) |
|---|---|---|---|---|
| 0% | R 1 500 000 | R 15 228 | — | ≈ R 50 761 |
| 5% | R 1 425 000 | R 14 467 | R 761 | ≈ R 48 223 |
| 10% | R 1 350 000 | R 13 706 | R 1 523 | ≈ R 45 685 |
| 20% | R 1 200 000 | R 12 183 | R 3 046 | ≈ R 40 609 |
The 20% deposit saves about R 3 046 a month — and roughly R 730 965 in instalments over the full 20 years. To see what deposit and income combination you personally qualify for, run your numbers through the home loan affordability calculator.
What did the September 2026 rate hike add to a R1.5 million repayment?
The SARB hiked the repo rate by 25 basis points on 23 September 2026, taking prime from 10.50% to 10.75% effective 25 September 2026. On a R1.5 million bond over 20 years that added about R 253 a month — from roughly R 14 976 at 10.50% prime to R 15 228 at 10.75%. The MPC's next decision is on 2026-11-19; no outcome is forecast here, but a further 25 basis point hike would take the repayment to about R 15 483 at 11.00% prime (bond.co.za scenario, not a prediction). The rate increase impact calculator prices any rate move at your own loan size and term.
Will you actually pay prime on a R1.5 million bond?
Probably not exactly 10.75%. Banks price each applicant around prime: offers across the major panels typically land between 9.75% and 12.75%, which on R1.5 million over 20 years is roughly R 14 228 to R 17 307 a month — an illustrative band, not a quote, verified 2026-10-03. On average, originator-submitted bonds achieve about 0.67% below prime (ooba) — worth about R 674 a month on this bond, at 10.08%. Comparing offers is the cheapest way to land at the good end: start with bond pre-approval or check any offer in the bond calculator.
Rates: SARB, re-verified 2026-09-23. Repayments: bond.co.za calculation, 20-year term unless stated, interest compounded monthly, as at 25 September 2026. Last verified: 2026-10-29.