Illustration
See how the loan could work for your home.
Enter your home’s value and your age. We show what you could receive over the typical eight-year term, the position at the end of the term, and the position if the loan remains outstanding after that.
Interest is added to the balance until the loan is repaid. This is an illustration, not an offer of credit.
What you could receive
You make no monthly repayments during the term.
At the end of the term
After 8 years, when you would be about 78.
The loan typically runs for eight years. In the later years of the term we usually review the position with you so that you can plan ahead. Any continuation beyond the term is subject to that review.
If the loan remains outstanding after the term
No further payments are made to you. Interest is added to the balance until the loan is repaid, so the balance keeps growing.
| After | The balance | Home’s estimated value |
|---|---|---|
| 8 years (end of the term) | R 1 874 839 | R 6 333 850 |
| 10 years | R 2 515 534 | R 6 719 582 |
| 12 years | R 3 374 522 | R 7 128 804 |
What this illustration assumes
- An interest rate of 14.75% a year: prime (10.75%) plus 4%. Interest is added to the balance until the loan is repaid.
- An initiation fee of R 5 550 and a monthly fee of R 69, both added to the balance.
- The amount advanced over the term is 20% of your home's value today. In practice it depends on your age, the value and location of your home, and the interest rate environment.
- Monthly payments increase by 5% each year during the term.
- Your home’s value grows by 3% a year. This is an assumption, not a forecast.
This is an illustration, not an offer of credit. Your loan agreement states the terms. We encourage independent advice before you decide.
Ask us for your illustration
A personal illustration on paper, with no obligation and time to consider it with your family.
Ask us for your illustration