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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