💳Loan Repayment Calculator
How Much Will Your Loan Actually Cost?
Calculate monthly repayments, total interest, and see how quickly your balance falls.
Loan amount
APR (annual interest rate)
The representative APR is the rate at least 51% of applicants get — yours may differ
Loan term
Monthly Repayment
£207.10
for 60 months
🧮
£12,426
Total repaid
📊
£2,426
Total interest
📉
20% of total
Interest is
Balance over time
£10k£5k£0
Month 1Month 60
Repayment milestones
Balance remaining
Interest paid
Year 1£8,338£823
Year 2£6,522£1,492
Year 3£4,538£1,993
Year 4£2,369£2,310
Year 5£0£2,426
Save money: pay more each month
• Overpaying by just £50/month on this loan saves £364 in interest and clears the debt 9 months early (approximate).
• Check your loan agreement — most personal loans allow early or overpayments without penalty.
• Once cleared, redirect those payments to savings or your pension to build wealth.
How does your rate compare?
Best-buy personal loan (excellent credit)5–7%Good
Typical personal loan (good credit)8–12%Average
Typical car dealer finance9–15%Can improve
Credit card balance transfer0% intro / 20–30% afterWatch out
Payday / high-cost short-term loan100–1500%Avoid