Access Bond Calculator
Calculate your available access facility and compare borrowing from your bond versus a personal loan
Interest only accrues on the amount you actually draw. Undrawn funds cost you nothing.
Three levels of detail — pick yours
Registered bond minus balance → available amount + monthly interest cost if fully drawn.
Access bond vs personal loan vs overdraft comparison, and first-year amortisation table.
Multi-draw scenarios, income-producing toggle with tax impact, and full credit options comparison.
How to Use This Calculator
Available Facility tab
Enter your original registered bond amount (the amount on your bond document, not the property value), your current outstanding balance from your latest statement, and your interest rate. The available access amount is simply the difference — money you have paid in and can draw again. The calculator also shows the monthly interest cost if you draw the full facility.
Borrow from Access tab
Enter how much you want to borrow from your access facility and the repayment period in months. The calculator compares the cost of borrowing from your access bond (at your home loan rate) versus taking a personal loan at a typical 15% rate — showing how much interest you save by using your access bond.
What Is an Access Bond?
An access bond (also called a flexible bond or revolving credit bond) is a home loan that allows you to re-draw funds you have already paid into the bond. Think of it as a revolving credit facility secured against your property, at your home loan interest rate.
For example, if your original bond was R1,200,000 and your current balance is R900,000, you have paid in R300,000 of capital. With an access bond, you can draw up to R300,000 at any time — the same rate as your home loan (10.25%) rather than a personal loan rate (typically 15%+).
All major South African banks offer access bonds: FNB (Flexi Bond), Standard Bank (Access Bond), ABSA (FlexiReserve), and Nedbank (FlexiReserve).
Worked Example
Bongani registered a bond for R1,200,000 five years ago. His current outstanding balance is R900,000, so he has R300,000 available in his access facility.
He needs R100,000 for home renovations. His options:
Option A – Access bond at 10.25%:
Monthly repayment over 60 months: R2,132
Total interest paid: R27,920
Option B – Personal loan at 15%:
Monthly repayment over 60 months: R2,379
Total interest paid: R42,740
By using his access bond, Bongani saves R14,820 in interest and pays R247 less per month.
Frequently Asked Questions
How much can I access from my access bond?
You can access up to the difference between your original registered bond amount and your current outstanding balance. For example, if your original bond was R1,200,000 and your balance is R750,000, you can draw up to R450,000. Note: some banks have a minimum draw amount and may charge a draw fee.
Does drawing from my access bond affect my interest rate?
No. Drawing from your access bond does not change your interest rate — the drawn amount is simply added back to your outstanding balance and accrues interest at your existing home loan rate. Your rate is negotiated once (when the bond is registered or renegotiated) and applies to the full outstanding balance regardless of draws.
Is an access bond better than a personal loan?
In most cases, yes — significantly so. Access bonds carry your home loan rate (currently 10.25%), while personal loans typically cost 15%–25%. On R100,000 over 5 years, the interest difference is R15,000–R40,000. However, there is one risk: you are borrowing against your home. If you cannot repay, your property is at risk. Personal loans are unsecured, so the consequence of default is less severe.
Does all money paid into my bond go into the access facility?
Every rand of capital repayment increases your access facility. However, the portion of your monthly payment that covers interest does not. Over the first few years of a bond, most of your payment is interest — so the facility grows slowly. It accelerates as the loan matures and more of each payment goes to capital. Extra lump sum payments also directly increase your available facility.
Can I convert my existing bond to an access bond?
Yes, in most cases. Contact your bank to upgrade your existing bond to an access facility. Some banks do this at no cost; others charge an administration fee. Alternatively, when switching banks (refinancing), you can request an access bond as part of the new product. Note that if your bond was not originally registered as an access bond, the Deeds Office registration may need to be updated.