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South Africa 💰 ZAR Last updated2026-05-28 Home loan / bond Calculator
South Africa
A R1,500,000 home loan at 11.25% (prime − 0.25%) variable over 20 years works out to a monthly payment of about R 15 739, with total interest of R 2 277 322 over the full term.
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Local context Home loan / bonds in South Africa
Market overview
South African home loans (commonly called "bonds") are predominantly linked to the prime lending rate, which tracks the SARB repo rate (currently 7.5% in mid-2026). The Big Four — FNB, Absa, Standard Bank, and Nedbank — control roughly 90% of new bond originations, with Investec serving HNI clients. Most bonds are prime-linked variable-rate, often discounted (prime − 0.5%) for prime borrowers.
Why 11.25% is the typical rate
11.25% (prime, currently 11.5% nominal − 0.25 typical discount) is the typical variable-rate bond for a prime borrower at 90% LTV in 2026. Fixed-rate options exist but are uncommon and carry significant premiums (typically 12-13% for 5-year fixed).
Tax & regulatory notes
Transfer Duty applies on properties above R1.1M (sliding scale 0-13%). Bond registration and conveyancing fees add ~1-2.5% per the official tariff. Capital Gains Tax applies on investment property sales (first R2M exclusion for primary residence). No interest deduction for owner-occupiers — but interest on investment property bonds is fully deductible against rental income.
A R1,500,000 home loan at 11.25% (prime − 0.25%) variable over 20 years
R 1 500 000 11.25% 20 years (240 months) R 15 739 R 2 277 322 R 3 777 322 
