Bond Qualification Calculator
Calculate South African bond qualification: maximum loan based on 28% of gross income. Includes full affordability assessment, bank rate comparison, amortization schedule, and extra payment impact.
Quick Calculator Get a fast estimate
R
Combined gross household income before deductions.
R
Existing monthly payments: car, personal loans, credit card, etc.
%
Current prime is approximately 11.75%.
years
Maximum Bond Amount
R 442 924
Maximum Property Price (10% deposit)
R 492 138
Max Monthly Bond Payment (28% of income)
R 4 800
Current Debt-to-Income Ratio
14.29%
Minimum Required Deposit (10%)
R 49 214
Qualification Likelihood
Good
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How Bond Qualification Works
South African banks use the NCR affordability assessment: your bond payment should not exceed 28–30% of gross monthly income, and total debt service should not exceed 40%. Banks also check your credit bureau record, employment history, and income stability.
Use a mortgage originator (ooba, BetterBond) to submit to multiple banks simultaneously at no cost — you get their best competing offers, often at better rates than going directly.
Need more detail?
Extended Calculator More options, charts, and scenario comparison
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R
%
years
Maximum Bond Amount
R 701 297
Max Property Price (90% LTV)
R 779 218
Max Monthly Bond Payment
R 7 600
Existing Debt-to-Income
11.11%
Required Deposit (10%)
R 77 922
Bond Affordability Formula
Maximum Bond Payment = Gross Income × 28%
Maximum Bond Payment (with debt) =
(Gross Income × 28%) − Existing Monthly Debt
Bond Amount = Payment × ((1 + r)^n − 1) / (r × (1 + r)^n)
where r = monthly rate, n = total months
Example: R45,000 gross, R4,000 existing debt, 11.75%, 20yr:
Max payment = R45,000 × 28% − R4,000 = R8,600/mo
Max bond = R8,600 × [formula] ≈ R803,000
Max property (10% deposit) = R892,000
Monthly Payment per R100,000 Bond
| Interest Rate | 20-Year Term | 25-Year Term | 30-Year Term |
|---|---|---|---|
| 10.00% | R965 | R908 | R878 |
| 10.75% | R1,016 | R963 | R934 |
| 11.25% | R1,049 | R999 | R971 |
| 11.75% | R1,083 | R1,034 | R1,009 |
| 12.50% | R1,134 | R1,089 | R1,067 |
| 13.00% | R1,168 | R1,125 | R1,104 |
Need full precision?
Professional Calculator Complete parameters, sensitivity analysis, and detailed breakdown
Income (Household)
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Qualifying income: R 75 000/month (banks discount rental and freelance income)
Monthly Debt Obligations
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Bond Application
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%
years
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Bond Qualification Result
Likely to Qualify
Total Qualifying Income
R 75 000
Monthly Bond Payment
R 17 556
Total Debt Service (bond + debts)
R 25 556
Debt Service Ratio
34.07% (max 40%)
Bond-to-Income Ratio
23.41% (max 28–30%)
Maximum Affordable Bond
R 1 199 586
Maximum Property Price
R 1 379 586
NCR Affordability Assessment Guide
| Test | Threshold | Your Position |
|---|---|---|
| Bond payment to gross income | ≤ 28–30% | 23.41% |
| Total debt service ratio | ≤ 40% | 34.07% |
| Loan-to-value (LTV) | ≤ 90–100% | 90.00% |
| Credit bureau check | No adverse listings | Verify with TransUnion/Experian |
| Employment | 6+ months current employer | Verify at application |
Frequently Asked Questions
Bond payment must not exceed 28–30% of gross income. Total debt service (all monthly payments) must not exceed 40% of gross income. Banks also verify credit history, employment, and income stability via 3 months payslips and 3 months bank statements.
Minimum 10% deposit for most applications. 100% bonds (no deposit) are available for excellent credit profiles but attract higher interest rates and are harder to get. Larger deposits (20–30%) significantly improve approval odds and rates.
Yes. Combined incomes increase the qualifying amount substantially. Both credit records are assessed. Being married in community of property means you automatically apply jointly.
Prime rate is approximately 11.75% (2024). Home loans are typically at prime ± adjustments. Excellent credit with 20%+ deposit can secure prime minus 0.5–1%. Poor credit may face prime plus 1–2%.
Extra payments go directly to capital reduction, dramatically reducing total interest paid and shortening the term. On a R1,200,000 bond at 11.75% over 20 years, an extra R1,000/month saves approximately 5 years and over R400,000 in interest.