Loan repayment calculator
Find the monthly payment and the total interest on a personal loan, car loan or other fixed-term borrowing.
Your loan repayments
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How loan repayments work
Fixed monthly payments
With a standard repayment loan you pay the same amount each month for the term. Early on, most of each payment is interest. Over time more of it pays off the amount you borrowed.
Term and cost
A longer term lowers the monthly payment but increases the total interest you pay. A shorter term costs more each month but less overall. Compare a few terms to find a balance you can afford.
APR
The APR is a standardised way to compare loans, as it includes certain fees. Lenders must show it, and the advertised "representative APR" only has to be offered to 51% of successful applicants, so your own rate may be higher. Always check your personalised quote.
Paying off early
Many loans let you repay early, sometimes with a charge of up to 58 days of interest. Check the terms before you rely on it.
What this calculator assumes
- A fixed rate and fixed monthly payments over the whole term.
- Interest is charged monthly at one twelfth of the yearly rate. Your lender's calculation may differ slightly.
- No arrangement fees, insurance or early repayment charges.
Questions people ask
How much does a £10,000 loan cost over 5 years at 7%?
The monthly payment is about £198, and the total interest is about £1,881.
Is a longer loan better?
Not necessarily. It feels cheaper each month but costs more in total. Choose the shortest term you can comfortably afford.
Will applying hurt my credit score?
A quote using a soft search does not, but a full application leaves a hard search on your file. Use eligibility checkers where you can.
Is what I type stored or shared?
No. The calculation runs in your browser and nothing you enter is sent to us. Our privacy page has the details.
Is this financial advice?
No. It gives an estimate for information only. For advice about your own situation, speak to a regulated adviser.