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Salary Sweep - Savings example
Assumptions
    Bond size
    Interest rate
    Monthly instalment
    Term
    Monthly nett salary

R1 000 000
12%
R11 010.86
240 months
R30 000

You save R527 593
in interest savings over the life of the bond.

You pay your bond off 48 months earlier!
This is equivalent to an interest rate of 8.71%

HOW MUCH CAN YOU SAVE?
Try our Savings Calculator! Enter your own bond details, income and expenditure...

Assuming your salary was paid into your Transact Account and swept into your Home Loan Account on the 1st of each month and you made the following withdrawals throughout the month:

Day 1
Day 1
Day 5
Day 10
Day 15
Day 20
=
R30 000.00 (Salary paid in)
R11 010.86 (Bond instalment)
R5 000.00
R5 000.00
R3 000.00
R4 989.14 (Save R1000 each month)
R29 000.00 SPEND
Because interest is calculated daily, every cent you leave in your home loan saves you interest.
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