Loan Repayment Calculator UK
This loan repayment calculator helps you work out how much a loan could cost over time. It is designed for UK borrowers who want to estimate regular repayments, compare terms, and see how interest and fees affect the total amount repaid.
Whether you are considering a personal loan, car finance style borrowing, or another fixed-rate agreement, this calculator gives you a clearer view of the repayment amount and overall borrowing cost before you apply.
What this calculator includes
- Loan amount and annual interest rate
- Loan term in years and months
- Different payment frequencies
- Optional fees paid upfront or added to the loan
- Optional extra payments
- Estimated repayment amount, total interest and total paid
- An amortisation schedule showing how the balance reduces
How it works
The calculator spreads your borrowing across the selected term and applies interest to the remaining balance. Each repayment covers part of the interest due and part of the original amount borrowed. As the balance falls, the share of each payment going toward the loan principal gradually increases.
If you add a fee to the loan, you may end up paying interest on that fee as well. If you make extra payments, the balance reduces faster, which can lower the total interest charged and shorten the repayment period.
Example calculation
If you borrow £10,000 over 5 years at 7.9% interest, your monthly repayment would usually be around £202, and the total repaid would be about £12,120, depending on how fees are treated.
Increasing the term can lower the monthly payment, but it often increases the total interest paid overall. Making extra payments can have the opposite effect by reducing the total cost of the loan.
Why results may vary
- Lenders may use a representative APR that differs from the rate you actually receive
- Some products include charges, admin fees or early settlement fees
- Interest may be calculated differently depending on the lender and loan type
- Your exact repayment schedule may differ if your payment date changes or payments are missed
- Overpayments may be limited or treated differently under your credit agreement
Who it’s for
- Borrowers comparing personal loan costs
- Anyone budgeting for a new monthly repayment
- People deciding between a shorter or longer loan term
- Users checking whether extra payments could save interest
- Anyone wanting to see the full cost of borrowing before applying
Important note
This calculator provides estimates only and does not guarantee the rate, repayment amount or approval decision from any lender. Actual loan costs may vary depending on your credit profile, fees, lender terms and how interest is calculated. Always check the full credit agreement before taking out a loan.
Use the calculator above to estimate your repayments, compare borrowing options and understand how term length, fees and extra payments affect the overall cost.