Borrowing
Personal loan repayment calculator
Work out the monthly payment, total interest and total cost of a personal loan or car finance at any APR and term.
- Monthly payment
- £253.15
- Total interest
- £2,151
- Total repayable
- £12,151
| Loan amount | £10,000 |
|---|---|
| Representative APR | 9.90% |
| Term | 48 months |
| Monthly payment | £253.15 |
| Total interest | £2,151 |
| Total amount repayable | £12,151 |
APR (Annual Percentage Rate) includes interest plus most compulsory fees. 'Representative' means at least 51% of accepted applicants get that rate or better — yours may be higher. Soft-search eligibility checks let you see your real likely rate without affecting your credit file.
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.