R1,500,000 Home Loan Calculator
Calculate monthly bond repayments and discover how extra payments can save you hundreds of thousands in interest over the life of your home loan.
What are your loan details?
What will your repayment be?
Monthly Repayment
R 14 975,70
per month
Total Interest
R 2 094 167,59
Total Cost
R 3 594 167,59
Loan Details
Loan Payment Schedule Chart
How much does this loan really cost you?
Estimated maximums under the National Credit Act — your actual lender's fees may be lower.
Advanced Analysis Tools
This is an estimate only, not financial or tax advice, and we are not a financial services provider (FSP). Your actual figures depend on your lender or provider, and your personal circumstances. Results do not constitute a credit quote or an offer of credit — please consult a qualified financial advisor or contact your bank directly before making financial decisions.
How do these repayment numbers break down?
Total interest paid by term
Bond Repayment for Information
Most South African bonds are linked to the prime lending rate, currently 10.5% (SARB, July 2026). Your bank may offer prime minus a percentage based on your credit profile. Use the deposit field to see how a down payment reduces your bond amount, monthly repayment, and total interest paid.
What can this calculator work out?
- Bond monthly repayment calculations
- Extra payment impact analysis
- Interest savings calculations
- Additional bond payment calculator
- Home loan affordability estimator
What's next?
Dig deeper into this result with our free financial tools
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A R1,500,000 home loan at 11.50% (prime + 1%) over 15 years costs R17,523/month, with R1,654,112 paid in interest at current SARB prime (10.5%).
A R1,500,000 home loan is typically used for purchasing residential property, refinancing an existing bond, or funding a second property. At current prime (10.5%), most SA lenders — including most major SA banks and bond originators — offer this amount at 9.50%–13.50%, which works out to R15,663–R19,475/month over 15 years. As a rough budgeting guide, the mid-range instalment stays near 35% of take-home pay on a gross salary of about R68,161/month — this is a budgeting convention, not a lender requirement: lenders set their own criteria via a full National Credit Act affordability assessment.
R1,500,000 Home Loan — Rate & Term Comparison
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs |
|---|---|---|---|---|
| 9.50% (prime − 1%) | R19,410/mo | R15,663/mo | R13,982/mo | R13,105/mo |
| 11.50% (prime + 1%) | R21,089/mo | R17,523/mo | R15,996/mo | R15,247/mo |
| 13.50% (prime + 3%) | R22,841/mo | R19,475/mo | R18,111/mo | R17,485/mo |
What income do you need for a R1,500,000 Home Loan?
- Estimated instalment
- R17,523/mo
- Take-home pay needed
- R50,065/mo
- Approximate gross salary needed
- R68,161/mo
This is an illustrative guide only, assuming the instalment stays near 35% of take-home pay (a common budgeting convention, not a lending rule) and based on PAYE and UIF deductions alone (it excludes pension and medical aid contributions, which would raise the gross salary needed). Lenders must run their own full National Credit Act affordability assessment — this is not a lending decision.
R1,500,000 Home Loan — Frequently Asked Questions
Repayments are based on the SARB prime rate of 10.5% (last verified July 2026). Verify current prime rate at SARB.co.za.