Financial tools

Bond calculator

See how extra payments and annual increases could reduce your interest and help you pay off your bond sooner.

Your results

Initial monthly repayment

—Normal repayment, before extra payments and annual increases.

Projected interest with your plan

—Interest until payoff, with extra payments and selected increases.

Interest without extra payments—Fixed normal repayment; no increases.
Interest saved—Compared with the fixed-repayment baseline.
Time saved——
Payoff with your plan——
Baseline payoff——
Bond rate per month—Annual rate divided by 12.

Outstanding bond

—

Without extra paymentsYour plan

Compare outstanding bond balancesEnter your bond details to see the comparison.

Month 1

Interest with your plan—
Outstanding bond with your plan—

Calculation assumptions

The annual interest rate stays constant. Monthly interest is the remaining principal multiplied by the annual rate divided by 12. Payments are made at the end of each month. Fees and insurance are excluded.

The baseline uses a fixed repayment calculated from the bond amount, rate and selected term. Your plan starts with that same normal repayment, plus the extra payment. Each selected annual increase compounds separately from month 13, then months 25, 37 and every 12 months thereafter, until payoff.

Both schedules stop at zero. The last payment is capped at the remaining balance plus that month’s interest. Total interest is the sum of monthly interest through payoff. Time saved compares the number of monthly payments. Payoff timing is elapsed time from the start of the schedule, not a calendar date.

Calculations retain full precision; displayed money is rounded to two decimal places. The term must represent whole monthly payments and is never rounded to a different repayment term.

Monthly repayment schedules

Monthly bond repayment schedule
Month Opening balance Normal payment Extra payment Total payment Interest Principal repaid Closing balance

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Financial tools

Debt calculator

Build a debt redemption plan from what you owe, the interest charged, your monthly payments, minimum payments and any arrears.

Debt redemption plan

Add each creditor using the fields from the Debt Diet worksheet. Results update as you type.

Amounts are in rand. Rates are per annum.

Debt redemption plan inputs
Creditor Balance owing Interest rate Monthly payment Minimum payment Arrears Remove

Your results

Total balance owing

—The combined balance entered for all creditors.

Estimated interest to payoff

—Based on each entered monthly payment remaining fixed.

Monthly payment—Total currently allocated each month.
Minimum payment—Combined minimum payments entered.
Payment above minimum—Monthly payment less minimum payment.
Arrears—Reported separately from balance owing.
Estimated monthly interest—First month across all debts.
First debt cleared——
All debts cleared—Assumes payments are not redistributed.
Debts entered—Rows included in this calculation.

Repayment overview

Suggested attention order: arrears first, then the highest interest rate.

Fixed-payment estimate

Estimated debt repayment overview
Order Creditor First-month interest Estimated payoff Estimated interest Status
Calculation assumptions

Balance owing and arrears are shown separately. Arrears are not added to the balance because the worksheet does not state whether they are already included in the balance owing.

Each creditor is modelled independently at the entered annual interest rate divided by 12. The monthly payment is fixed, paid at the end of each month, and the final payment is limited to the amount still owing. Fees, insurance, rate changes and new borrowing are excluded.

The payoff estimate does not move a cleared debt’s payment to another debt. The attention order is guidance only: creditors with arrears appear first, followed by higher interest rates. A payment that does not cover the first month’s interest cannot produce a payoff estimate.

Calculations retain full precision. Money shown on screen is rounded to two decimal places, and payoff timing is rounded up to whole monthly payments.

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