I want to finish repaying my bond just yesterday.
Pa Francois Le Clew
September 14, 2022 00:07
I have a deposit of 540,000 rand. I am supposed to pay 7,400 rand per month but instead I pay 11,000 rand. How will this affect my commitment period? I want to finish repaying my bond just yesterday. Please advise.
Dear reader,
Thank you very much for writing to us.
It is a bit difficult to calculate the interest rate with the information provided. However, I can give you some calculations based on different interest rates and you can go back to your statement to check your interest rate and the calculation that is closest.
| Deposit: 540,000 rubles | |
| Interest rate | Term (months) |
| 9.25% | 61.92 |
| 9.5% | 62.4 |
| 10% | 63.39 |
| 10.5% | 64.43 |
| 11% | 65.52 |
Basically you repay your bond over five years and five and a half years.
If your interest rate is more or less than the examples above, you can contact me for a more accurate calculation.
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