Personal loan repayment calculator
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Estimate monthly repayments, interest and total cost for a fixed-rate personal loan over 1–120 months. This illustration assumes equal repayments and does not model balloon payments or separate fees.
Estimate level monthly repayments for a fixed-rate loan. Enter your quoted APR if you have one. This tool supports loans up to £1,000,000, APRs up to 100% and terms from 1 to 120 whole months.
- Monthly payment (estimate)
- £253.15
- Interest (estimate)
- £2,151.00
- Total repayable (estimate)
- £12,151.00
| Loan amount | £10,000.00 |
|---|---|
| APR entered | 9.9% |
| Term entered | 48 months |
Illustration assumes equal monthly payments and uses APR divided by 12 as a monthly rate. It does not model separate fees, payment dates or a lender's rounding, so the lender's repayment schedule can differ. A representative APR is not a personal offer; use your own quote when comparing costs.
How it works
- We use the standard amortisation formula: monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r is the monthly rate (APR ÷ 12 ÷ 100) and n is the number of months.
- Total repayable = monthly payment × number of months. Total interest = total repayable minus the original loan amount.
- APR includes interest plus compulsory fees. The 'representative' label means at least 51% of accepted applicants get that rate or better — your actual rate may be higher.
Common questions
- Is APR the same as interest rate?
- Not always. APR includes interest plus most compulsory fees, so on a fee-free loan APR and interest rate are the same. On a loan with arrangement fees, APR will be slightly higher than the headline interest rate.
- Can I pay it off early?
- Yes — regulated UK personal loans allow early repayment in full or in part. Lenders can charge up to two months' interest, but many waive this on partial overpayments.
- What APR will I get?
- The lender's representative APR is the rate offered to at least 51% of successful applicants. Use a soft-search eligibility tool to see your personalised rate before applying.