Amortization Calculator

Calculate what percentage of your payment goes towards paying off your bond and what percentage goes towards interest.

Results

Total Loan Amount: R 0

No. of Months of Loan: 0 months

Interest Rate: 0.00%

Fixed Term: 0 months

Fixed Interest Rate: 0.00%

Total Interest Paid: R 0

DISCLAIMER

This calculator provides an estimate only. Please consult with financial professionals for accurate advice.

calculator definitions

Total Loan Amount: Total amount to be repaid
 
No. of Months of Loan:  Most home loans in South Africa are over 20 years (240 months) but you may have chosen a shorter or longer term (max. 30 years).  This is the period of your loan term (years x 12 = months of loan).

Interest Rate The calculator uses the current interest rate, which can change based on factors like your credit profile and upfront deposit.
 
Fixed Term: The maximum number of fixed term months is 60 (5 years).
 
Fixed Interest Rate: An unchanged interest rate charged on the bond. Normally the same percentage as the interest rate, unless a fixed interest rate was negotiated.
 
Total Interest Paid: The total amount of interest paid over the term of your loan.

faq’s

What does this calculator show?

The amortization calculator provides a detailed breakdown of how your loan balance diminishes each month throughout the loan term, illustrating the specific amounts allocated towards repaying interest and the principal amount of the loan

What happens if my rate is not fixed?

In the event that your interest rate is not fixed, the calculator still operates based on a fixed interest rate assumption. Therefore, any fluctuations in your interest rate due to changes in the prime rate will result in a corresponding adjustment in the proportion of your payments attributed to interest, either increasing or decreasing accordingly

Disclaimer:
Please Note: The interest rate displayed here is the current, national, prime interest rate, as set by the South African Reserve Bank. The interest rate offered by your bank when applying for a loan may vary.
Although every effort has been made to ensure the accuracy of our calculators, Ezi Homeloans. and its subsidiaries accept no liability in respect of any errors contained herein. Under no circumstances will Ezi Homeloans and its subsidiaries be liable for any loss or damages whatsoever arising from the use of this calculator.

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