UK Loan Calculator
Estimate monthly repayments, total interest, and total borrowing cost from your loan amount, term, and interest rate.
Estimated repayment
£0 / month
Based on loan amount, term, and interest rate
Fixed-rate repayment estimate
Loan amount
£0
Total repaid
£0
Total interest
£0
Term
0 months
| Month | Opening balance | Payment | Principal paid | Interest paid | Closing balance |
|---|
Assumptions
Estimates assume a fixed-rate repayment loan with equal monthly payments over the full term and do not include fees, charges, or future rate changes.
Most personal loans use fixed monthly repayments. Each payment covers some interest and some of the amount borrowed, so the outstanding balance gradually falls until the loan is fully repaid.
At the start of the term, more of each payment goes towards interest. As the balance comes down, more of the payment goes towards the principal.
Interest is the cost of borrowing. Higher rates increase your monthly repayment and the total amount you repay over the term.
Even a small change in rate can make a noticeable difference, especially on longer loan terms.
Longer terms usually lower the monthly payment because the borrowing is spread across more months. The trade-off is that you usually pay more interest overall.
Shorter terms cost more each month but typically reduce the total borrowing cost and clear the debt faster.
A fixed-rate loan keeps the same interest rate for the entire term, so your monthly repayment never changes. This makes budgeting straightforward because you know exactly what you will pay each month and in total.
Variable-rate loans can change during the term, which means monthly costs may rise or fall. This calculator models fixed-rate loans only, where the rate and payment are constant from start to finish.
The annual percentage rate (APR) includes compounding and is the standard way lenders quote personal loan rates in the UK. A flat rate ignores the declining balance and overstates the true cost. When comparing loans, always use the APR — and enter that rate in this calculator for the most realistic estimate.
Results are based on a fixed interest rate applied monthly over the full loan term with equal repayments. It does not include arrangement fees, payment protection insurance, early repayment charges, or late payment penalties.
The rate you enter is treated as a nominal annual rate compounded monthly. If a lender quotes an APR, that is the right number to use here. Actual loan offers may vary based on credit score, loan amount, and lender criteria.
Monthly cost depends on the amount borrowed, your interest rate, and the term. This calculator estimates the monthly repayment using standard loan amortisation maths.
Usually yes. Spreading the loan across more months lowers the monthly payment, but it often increases the total interest paid.
Total interest depends on your rate, balance, and term. The calculator shows the estimated full-term interest separately from the amount borrowed.
It gives a strong fixed-rate estimate using standard repayment maths. Real loans may differ if fees apply or the actual product terms are different.
No. This version does not include arrangement fees, early repayment charges, or other lender costs.
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