# What is the bond repayment on a R1.5 million house? - Canonical URL: https://bond.co.za/news/r1-5-million-home-loan-monthly-repayment - Author: Neil B - Published: 2026-10-29 - Last updated: 2026-10-29 Market newsInterest rates The bond repayment on a R1.5 million house is about **R 15 228** a month over 20 years at South Africa's **10.75%** prime rate (SARB, effective 25 September 2026) — a bond.co.za calculation. With a 10% deposit it drops to about **R 13 706**. By [Neil B](https://bond.co.za/expert) · Checked against published primary sources · Published 2026-10-29 · Last verified 2026-10-29 home loan repaymentR1.5 million bondprime rateSARB MPC ![A house with a price tag showing R1.5 million and a calendar beside it, on a soft cream background.](https://bond.co.za/images/news/r1-5-million-home-loan-monthly-repayment.svg) ## 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](https://bond.co.za/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](https://bond.co.za/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](https://bond.co.za/guides/bond-pre-approval) or check any offer in the [bond calculator](https://bond.co.za/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. Free Bond Readiness Report ## Turn the R1.5 million figure into your own number Run your numbers on our free affordability calculator, then get a personalised Bond Readiness Report emailed to you: an affordability range, a realistic rate band and the document checklist for your situation. Estimates only, no guaranteed approval. [Run the numbers on our free affordability calculator](https://bond.co.za/home-loan-affordability-calculator) ### Get your free Bond Readiness Report A personalised affordability range, a realistic rate band, estimated total upfront costs and the document checklist for your situation. We’ll open a request in your email client, ready to send. Free to use. bond.co.za is an independent educational resource — we do not provide credit, origination, legal or conveyancing services. [About our independence](https://bond.co.za/how-we-make-money). ## Sources - [South African Reserve Bank — September 2026 Monetary Policy Statement](https://www.resbank.co.za/en/home/publications/publication-detail-pages/statements/monetary-policy-statements/2026/september)Source for prime (10.75%) and repo (7.25%), effective 25 September 2026; the 23 September hike was 25 basis points. - [bond.co.za — Bond calculator](https://bond.co.za/bond-calculator)Method behind the repayment figures: standard annuity, interest compounded monthly. - [ooba Home Loans — how to apply for a home loan](https://www.ooba.co.za/resources/how-to-apply-for-home-loan/)Source for the average rate concession of about 0.67% below prime across originator-submitted bonds. ## More market news [ R2 Million Home Loan: Monthly Repayment at 10.75% PrimeThe same repayment table at the R2 million price point. ](https://bond.co.za/news/r2-million-home-loan-monthly-repayment)[ How much have interest rates gone up in 2026?The two 2026 hikes, and what they added at R1m, R1.5m and R2m. ](https://bond.co.za/news/how-much-have-interest-rates-gone-up-in-2026)[ What salary do you need to buy a house in South Africa?The full salary-to-bond table at the 30% affordability rule. ](https://bond.co.za/news/what-salary-do-you-need-to-buy-a-house-october-2026)[ When is the next interest rate decision in South Africa?Dates, times and what each outcome would do to your bond. ](https://bond.co.za/news/when-is-the-next-interest-rate-decision-south-africa) ## Informational disclaimer This article is for information purposes only and does not constitute financial advice, a guarantee of bond approval, or confirmation of any specific interest rate. Repayments are illustrative estimates; your bank sets your actual rate and fees. Speak to your bank or a qualified financial adviser about your personal circumstances before making a decision. Prime 10.75% and repo 7.25% (SARB, effective 25 September 2026, re-verified 2026-09-23). Last verified: 2026-10-29. > This is the Markdown version of [https://bond.co.za/news/r1-5-million-home-loan-monthly-repayment](https://bond.co.za/news/r1-5-million-home-loan-monthly-repayment); that HTML page is the canonical version of this content.