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Loan & bond calculator
Work out what a car, bond or business loan really costs — the monthly instalment, the payoff date, the total interest, and what paying a bit extra each month would do. Your figures stay in your browser and are never sent to us, unless you ask for a PDF copy.
Fill in the amount, rate, term and first payment date on the left — your instalment, payoff date and burn-down graph appear here.
What you still owe, month by month
What if I pay a bit extra?
See what an extra amount each month, from today onwards, would save you.
Month-by-month schedule
Months that have already gone by are yours to correct — type in what you actually paid and everything below re-works itself.
| # | Month | Payment | Interest | Off the loan | Still owing |
|---|
Off by default. Tick it and your figures are saved in this browser only — on this device, for you. They are never sent to Vali and we never see them. Clearing your browser data removes them.
Keep a copy
A one-page PDF of your figures and the result.
Your figures are used only to make the PDF. We don't keep them.
Keep your loans in your books, not in a browser tab
This calculator forgets everything the moment you close it, unless you tick the box. In Vali, a loan lives alongside your accounts — the balance, what you have actually paid and the interest are all kept for you, on every device you log in from.
How this calculator works
Interest is worked out on the balance still owing at the start of each month, at your annual rate divided by twelve — the same way a South African bank or vehicle finance house does it. Whatever is left of your instalment after the interest comes off the loan itself, which is why the early months barely move the balance and the last ones move it quickly.
Leave the monthly instalment blank and the calculator works out the amortised figure for your amount, rate and term. If your lender quoted you a different number, type theirs in — it is usually a few rand out because of initiation and monthly admin fees, which this calculator does not include.
A balloon or residual is the lump sum still owing at the end of the term. Because you are not paying it off along the way, you pay interest on it for the whole term, and it falls due in one go on the last month.
Nothing here is financial advice, and the figures are estimates for planning. Your lender's own statement is the number that counts.
Loan and bond questions answered
01 How much does paying extra each month save?
Every extra rand goes straight onto the capital, so there is less balance to charge interest on from the next month onward. Type an extra amount in and the calculator shows the interest saved and how many months earlier the loan ends.
02 Does paying extra shorten the term or lower the instalment?
This calculator keeps the instalment and shortens the term, which saves the most interest. A bank will usually do the same unless you ask it to recalculate the instalment instead.
03 What is the difference between a fixed and a prime-linked rate?
A prime-linked rate moves with the South African prime lending rate, so your instalment goes up and down as the Reserve Bank changes rates. A fixed rate stays the same for the agreed period and usually starts higher. Re-run the calculator at a rate one or two points higher to see what a rise would do to your instalment.
04 Can I settle a loan early?
Yes. The National Credit Act lets you settle at any time by paying the outstanding balance plus interest to the settlement date. On a home loan the bank may add an early settlement charge if you do not give 90 days' notice, so give notice first.
05 Are my figures stored?
Only if you tick the box asking the calculator to remember them, and then only in your own browser on that device. Nothing is sent to us.
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