How much your bond repayments will be after latest SARB interest rate announcement
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) on Thursday voted to keep interest rates on hold.
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) on Thursday voted to keep interest rates on hold.
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The decision will come as some relief to South Africans, particularly those with home mortgages.
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The country’s repurchase rate will remain at 8.25% while the current prime lending rate stays at 11.75%.
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The vote was unanimous according to SA Reserve Bank governor Lesetja Kganyago.
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Monthly bond repayments
The table below shows the monthly bond repayments on various bond values assuming no deposit and that repayments are at prime (11.75%):
| Bond value (20 years) | Monthly cost |
| R750 000 | R8 128 |
| R800 000 | R8 670 |
| R850 000 | R9 212 |
| R900 000 | R9 753 |
| R950 000 | R10 295 |
| R1 000 000 | R10 837 |
| R1 500 000 | R16 256 |
| R2 000 000 | R21 674 |
| R2 500 000 | R27 093 |
| R3 000 000 | R32 511 |
| R3 500 000 | R37 930 |
| R4 000 000 | R43 348 |
| R4 500 000 | R48 767 |
| R5 000 000 | R54 185 |