Pay off your bond faster
See how much interest and time you save by paying a little extra each month, or putting in a lump sum (bonus, tax refund).
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Worked out from the figures you enter and the published rates and tables shown; results marked as estimates depend on assumptions. General information, not financial, credit, tax or legal advice - Property HQ is not an authorised financial services provider or a registered credit provider, and banks do their own affordability assessment under the National Credit Act. Confirm the figures for your own case with your bank, conveyancer or a registered tax practitioner.
Tax, transfer duty and CGT tables from SARS; prime, repo and CPI from the South African Reserve Bank; minimum living costs from the National Credit Act regulations; exchange rates from the European Central Bank (via Frankfurter).
Frequently asked questions
2 quick answers - tap a question to open itWhy does paying extra save so much?
Interest is charged on the outstanding balance, so every extra rand reduces the balance that future interest is worked out on. The saving compounds over the remaining term.
Can I take the extra back out?
Many SA bonds have an access facility that lets you withdraw money paid in advance. Ask your bank how yours works.