The Standard bank has created a number of innovative techniques to ease the borrower when he/she approaches the bank for housing loans. One such innovative tool is the Standard bank home loan calculator which calculates the estimated repayments payable by the loan borrower. With the help of this bond repayment calculator, the customer can get an idea of all the estimated repayments he/she will have to pay in the course of time. The calculator is not only easy to use but also is very uncomplicated and can be understood by anybody. The calculators are available at the official website of the bank. The bank does not charge anything for using their calculators. However you must call the bank officials on number 0860 123 001 to confirm the calculation
Standard Bank Home Loan Repayment Calculator
The Standard bank home loan repayment calculator answers the following:
The affordability is calculated on the basis of a customer's monthly income and monthly expenses. The bond costs are the other costs charged by the bank such as stamp duty, documentation costs etc. Monthly repayments are the repayments the customer will have to pay per month on the housing loan availed. Additional payments are the amount a customer can pay in order to reduce his/her housing loan fast. Multiple payments means payments on housing loan for more than once during a month. Selected repayments would offer the customer to select whether he/she wants to pay the principal or the interest first for a period of one year. The bond term is the duration of the loan.
- Affordability: It calculates the amount of loan one qualifies for
- Bond Costs: It calculates the cost of a bond.
- Monthly Repayments: It calculates the monthly repayments based on the amount of loan
- Additional Payments: It calculates the effect if one pays extra each month
- Multiple Payments: It calculates the effect if one pays multiple times a month
- Selected Repayments: It calculates the maximum bond.
- Bond Term: It calculates the time period within which the loan amount can be paid off.
After you find out everything about your repayments you can decide whether to go in for the decided amount or reduce or increase the amount. A reduction in the monthly installment will increase the loan term and vice-versa. Please note that all the figures mentioned by the calculator are only approximate figure and might not be the final ones. For the final and exact repayments, you will have to contact the bank directly. Repayments also vary according to the type of interest rate opted for – variable or fixed interest rate.
For more details on the Standard Bank Home Loan Calculator, you can visit the link given below: