Grow a lump sum and monthly contributions over time, with a year-by-year breakdown.
Loan Calculator
Monthly repayment, total interest and a full schedule for a fixed-rate loan — including extra payments.
Runs in your browser — nothing you enter is sent to our servers
How it works
For a fixed-rate loan compounded monthly, the minimum repayment is P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r is the annual rate ÷ 12 and n is the term in months.
Each month, interest is charged on the remaining balance (balance × r). Your payment covers that interest first; the rest reduces the balance. Early on, most of each payment is interest; later, most is capital. Extra payments reduce the balance directly.
Example
Borrowing R500,000 at 11.5% over 20 years gives a monthly repayment of about R5,332 and total interest of roughly R780,000. Adding R1,000 a month shortens the term by several years and saves a large share of that interest — enter it above to see the exact figures.
This is an estimate, not a credit quotation. Your lender’s rate, fees, insurance and terms determine your actual repayment.
Frequently asked questions
How is the monthly repayment calculated?
We use the standard amortisation formula for a fixed-rate loan compounded monthly: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the annual rate ÷ 12 and n is the number of months.
Does this include fees and insurance?
No. Initiation fees, monthly service fees and credit life insurance are not included. Ask your lender for a full quotation showing the total cost of credit.
Is it accurate for a variable-rate home loan?
It is accurate for the rate you enter, as long as the rate stays the same. With a variable rate, repayments change when rates change — try different rates to see the effect.
How do extra payments help?
Extra payments go straight to the balance, so less interest accrues each month. The loan ends sooner and total interest drops. Check with your lender how extra payments are applied.
Related tools
Convert pay between hourly, monthly and annual, and estimate South African PAYE and UIF.
Add up start-up and running costs to see monthly spend, first-year cost and cash runway.
Find X% of a number, or what percent one number is of another.
Related guides
CSS colour formats explained: HEX, RGB, HSL, HWB and OKLCH
What each CSS colour format means, when to use it, why OKLCH is useful for palettes, and how to check colour contrast for accessibility.
· 7 min read
Ecommerce tools available in South Africa
Selling online in South Africa: hosted stores vs WooCommerce, local payment gateways such as PayFast and Yoco, delivery, VAT on prices and the consumer rules to check.
· 8 min read
JWTs explained: structure, claims, decoding vs verifying, and common mistakes
How JSON Web Tokens work, what each part and claim means, why decoding isn't verifying, and the mistakes that cause real security bugs.
· 8 min read