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UK Calculators

Loan Repayment Calculator

Estimate equal monthly repayments and total interest for a fixed-rate personal loan.

Last reviewed

Loan Repayment Calculator

Monthly repayment

£304.22

Total repayable£10,951.90
Total interest£951.90

Reading the result

Payments are monthly in arrears and the nominal annual interest rate remains unchanged.

How it works

We apply the amortising loan formula to the monthly interest rate and payment count. At zero interest the amount is divided equally across the term.

Worked examples

Worked example

Loan amount (£): 10000; Annual borrowing rate (%): 6; Term (months): 36

  1. We apply the amortising loan formula to the monthly interest rate and payment count. At zero interest the amount is divided equally across the term.
  2. Total repayable: £10,951.90
  3. Total interest: £951.90

Monthly repayment: £304.22

Assumptions

The result depends on the following. If any of them do not match your situation, treat the figure as indicative only.

  • Payments are monthly in arrears and the nominal annual interest rate remains unchanged.

What this calculator does not do

  • Fees, payment holidays, early settlement charges and insurance are excluded. Enter a borrowing rate, not a fee-inclusive APR.

Methodology

We apply the amortising loan formula to the monthly interest rate and payment count. At zero interest the amount is divided equally across the term.

Inputs are processed locally. Displayed amounts are rounded; the calculation retains precision.

Frequently asked questions

Is the annual rate the same as APR?

Not necessarily. APR includes compounding and certain charges; this calculation uses the stated nominal interest rate.

Does a longer term save money?

It usually lowers monthly repayments but increases total interest at the same positive rate.

Please note: Results are estimates for general information only and are not financial, tax or legal advice. Figures depend on the assumptions listed on each page and on your personal circumstances.

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