What this calculator does

Plans your path to a home deposit in two modes. 'How long will it take?' shows when you'll reach your target given a fixed monthly contribution. 'How much must I save monthly?' works backwards from a target date to tell you the required monthly amount. Both modes use compound interest on your savings balance.

How to interpret your results

The interest earned figure shows the real benefit of saving in an interest-bearing account rather than a current account. Even at 8% per year, compound interest meaningfully shortens your saving horizon. The deposit target shown is the amount you need to hand over on registration day — your transfer costs are additional and should be budgeted separately.

Assumptions applied

• Savings grow at a constant annual interest rate compounded monthly.
• Your monthly contribution stays the same throughout the saving period.
• The deposit percentage applies to the purchase price — banks may require more or less depending on your credit profile.
• Transfer costs, bond registration fees, and moving costs are not included.
• FLISP eligibility is not factored in — check the FLISP calculator separately if you may qualify.

What this calculator doesn't account for

• Does not account for tax on interest income (personal income tax applies to savings interest above R23,800 per year).
• Does not model inflation eroding the real value of your savings.
• A fixed monthly contribution is assumed — the real impact of ad hoc lump sums requires separate modelling.