Additional payment calculatorWant to know what you can save by paying a little more on your home loan every month?
This might interest you…
When you’re hunting for the home of your dreams, you need to know just what an interest rate really is. Here’s a simple explanation of why interest rates are so important when house-hunting.
Hint: A lower interest rate could mean big savings for you!
Additional payment calculator FAQ
How can I reduce the total cost of my home loan?
How quickly can I pay of my bond?
A small additional payment into your home loan account every month can make a big difference. The interest on your bond is calculated daily. This means the amount you owe the bank could increase every day. Paying extra money into your bond account, right from the start, before interest starts increasing, will help reduce the final cost of your home loan and decrease your payment period.
If you pay an extra R300 per month into your R1 500 000 bond, it will shorten your bond term by 2 years (this is calculated on the prime rate of 10%)
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The estimates contained on this webpage are provided for general information purposes and should be used as a guide only. While every effort is made to ensure the accuracy of the calculator, BetterBond cannot be held liable for any loss or damage arising directly or indirectly from the use of this calculator, including any incorrect information generated by this calculator, and/or arising pursuant to your reliance on such information.