Deposit Savings Calculator South Africa 2026 | ooba Bloemfontein

Q: How much deposit do I need for a home loan in South Africa?

There is no fixed minimum but a 10% deposit is considered a meaningful improvement to your application. A 20% deposit typically secures the best interest rates. With a strong credit profile and income, some buyers qualify for 100% bonds with no deposit required.

Q: Does a bigger deposit get me a better interest rate?

Yes generally. Banks view a larger deposit as lower risk, which often results in a lower interest rate being offered. Even 0.25% less on a R1 million bond saves over R40,000 in interest over 20 years.

Affordability Bond Repayment Bond & Transfer Costs Extra Payments Deposit Savings Amortisation

Purchase Price (including VAT) (R)

Deposit Required (% of property value)

Existing Savings Available (R) optional

By When Do You Need Your Deposit optional

Savings Interest Rate (%)

Enter your property details to see your savings plan.

FAQS

Frequently Asked Questions

How much deposit do I need for a home loan in South Africa?

There is no fixed minimum, but a 10% deposit is generally considered a meaningful improvement to your application. A 20% deposit typically secures the best interest rates. With a strong credit profile and income, some buyers qualify for 100% bonds with no deposit required.

Can I get a 100% home loan with no deposit?

Yes, 100% bonds are available in South Africa. They require a strong credit score (typically 700+), stable employment, and good income. ooba will submit your application to multiple banks to find who will approve a 100% bond for your situation. It helps to have no other debt and a clean repayment history.

How long will it take to save a deposit for a R1 million home?

For a 10% deposit (R100,000) saved from scratch with no existing savings, it depends on how much you can set aside monthly. At R5,000/month, it takes about 20 months. At R2,000/month, approximately 50 months. Our calculator factors in any existing savings and a savings interest rate to give you a precise target.

Does a bigger deposit get me a better interest rate?

Yes, generally. Banks view a larger deposit as lower risk, which often results in a lower interest rate being offered. Even 0.25% less on a R1 million bond saves over R40,000 in interest over 20 years. Building a 20%+ deposit before applying can make a meaningful difference to your total cost.