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Using an Absa Bond Calculator to Calculate Your Mortgage Repayments

The Absa bond calculator is a very useful tool for those who are interested in applying for a mortgage, and also for current mortgage holders. Before taking out a loan of any kind, both the customer and the financial institution have to examine certain important factors. Many potential home loan clients will wish to try out different payment scenarios to see how the duration of the home loan is affected, and how the amount of interest varies under certain conditions. Similarly, existing mortgage holders may be in a position to increase their repayments, or to make a lump sum deposit. Using an Absa home loan calculator, it is possible for them to easily see how this will affect the status of their loan.

There are in fact a number of different calculators offered by Absa, but it is the home loan calculators that are used to compute bond repayments under a range of conditions. Absa have helpfully created five different calculators, including the Increase Your Home Loan Repayment Calculator, the Making A Lump Sum Deposit Calculator and the Monthly Home Loan Repayment Calculator.

The names of each calculator are fairly self-explanatory, and the calculators themselves are easy to use. For example, the Monthly Home Loan Repayment Calculator asks users to input the home loan term in years, the home loan amount and the interest rate. It then provides them with a monthly repayment figure, the total amount that will be paid to the bank and the amount of interest that will be paid.

The Absa bond calculator can be accessed through the Absa website at http://www.absa.co.za/Absacoza/Calculate.

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