Thank you for using our handy calculator.
Feel free to work out what the total monthly installment will be on your loan. The current prime interest rate is 7%.
If you’re applying for a further loan, the amount you need to put in at “Loan Amount” wil be your First and New loan combined. Example: Current bond R1,000,000 + (new loan that you want to apply for) R250,000= R1,250,000.
If you’re applying for only a new loan because your house is paid off or a Further Loan at same Institution, you only put the amount that you want to borrow now.