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Loan Repayment Calculator UK
Calculate monthly repayments and total cost of any personal loan.
📖 What is a personal loan?
A personal loan is borrowed money you repay in fixed monthly instalments over an agreed term, with interest. The APR (Annual Percentage Rate) determines your total cost — even a small difference in APR can mean hundreds of pounds over 3–5 years.
Typical UK personal loan APRs: 6–30% · Loans over £25,000 may need a secured arrangement · Always check the total repayable, not just the monthly payment
£
1%40%
6m7 yrs
Monthly Payment
£239
Total Interest
£1,472
Total Repaid
£11,472
💡 Smart Borrowing Tips
💡 Even paying £20-50 extra per month can significantly reduce the total interest you pay.
💡 Check your credit score before applying — a better score gets you a lower rate. Use Experian or ClearScore (free).
⚠️ Credit cards have much higher rates (20-30%+ APR). Only use them if you can clear the balance each month.
✅ If your loan rate is below 5%, prioritise paying into a pension instead — the tax relief beats the interest saving.
Sources & References
APR examples are illustrative. Always check the total amount repayable before borrowing.