Loan Repayment Calculator UK
Work out your monthly payments and the total cost of a personal loan. See how the interest adds up over time.
Your Results
Monthly Repayment
£188.71
Total Repayment
£11322.74
Total Interest Paid
£1322.74
Understanding Your Loan Repayments
A personal loan can be a useful financial tool for large purchases, but it is crucial to understand the costs involved. This Calculator Site tool helps you see the relationship between the loan amount, interest rate (APR), and term length. The monthly payment is the fixed amount you will pay back each month, while the total repayment is the full amount you will have paid by the end of the term, including all interest.
The amortisation schedule, shown below the main results, is a table detailing how each payment is split. It shows you how much of your money goes towards paying off the interest versus reducing your loan balance (the principal). You will notice the interest portion of your payment decreases over time as the loan balance gets smaller. For a detailed look at your income, use our Take-Home Pay Calculator.
Watch out for Early Repayment Charges (ERCs)
While most UK lenders allow you to pay off your loan early, some may charge an Early Repayment Charge (ERC). This is a penalty for settling your debt ahead of schedule. Always check the terms and conditions of your loan agreement before making overpayments to avoid unexpected fees.
Key Loan Concepts
Getting to grips with a few key terms will help you compare loans more effectively. Understanding these concepts is the first step to finding the best deal for your situation. You might also find our Mortgage Calculator useful for larger property loans.
APR
Annual Percentage Rate: the true cost
Loan Term
Longer term = lower monthly payments
Principal
The original amount you borrowed
How to use this Calculator Site tool
Enter your desired loan amount, the annual interest rate (APR), and the loan term in either years or months. The calculator will instantly show your monthly payment, total repayment, and the total interest you will pay. The results help you quickly compare different loan scenarios to find one that fits your budget.
Amortisation Schedule
The table below shows how each payment is split between paying off the interest and reducing your loan balance (the principal). Notice how the interest portion of your payment decreases over time as the loan balance gets smaller.
| Month | Principal | Interest | Remaining Balance |
|---|---|---|---|
| 1 | £147.05 | £41.67 | £9852.95 |
| 2 | £147.66 | £41.05 | £9705.30 |
| 3 | £148.27 | £40.44 | £9557.02 |
| 4 | £148.89 | £39.82 | £9408.13 |
| 5 | £149.51 | £39.20 | £9258.62 |
| 6 | £150.13 | £38.58 | £9108.48 |
| 7 | £150.76 | £37.95 | £8957.72 |
| 8 | £151.39 | £37.32 | £8806.34 |
| 9 | £152.02 | £36.69 | £8654.32 |
| 10 | £152.65 | £36.06 | £8501.66 |
| 11 | £153.29 | £35.42 | £8348.37 |
| 12 | £153.93 | £34.78 | £8194.45 |
| 13 | £154.57 | £34.14 | £8039.88 |
| 14 | £155.21 | £33.50 | £7884.67 |
| 15 | £155.86 | £32.85 | £7728.81 |
| 16 | £156.51 | £32.20 | £7572.30 |
| 17 | £157.16 | £31.55 | £7415.14 |
| 18 | £157.82 | £30.90 | £7257.32 |
| 19 | £158.47 | £30.24 | £7098.85 |
| 20 | £159.13 | £29.58 | £6939.71 |
| 21 | £159.80 | £28.92 | £6779.92 |
| 22 | £160.46 | £28.25 | £6619.45 |
| 23 | £161.13 | £27.58 | £6458.32 |
| 24 | £161.80 | £26.91 | £6296.52 |
| 25 | £162.48 | £26.24 | £6134.04 |
| 26 | £163.15 | £25.56 | £5970.89 |
| 27 | £163.83 | £24.88 | £5807.06 |
| 28 | £164.52 | £24.20 | £5642.54 |
| 29 | £165.20 | £23.51 | £5477.34 |
| 30 | £165.89 | £22.82 | £5311.45 |
| 31 | £166.58 | £22.13 | £5144.87 |
| 32 | £167.28 | £21.44 | £4977.59 |
| 33 | £167.97 | £20.74 | £4809.62 |
| 34 | £168.67 | £20.04 | £4640.95 |
| 35 | £169.38 | £19.34 | £4471.57 |
| 36 | £170.08 | £18.63 | £4301.49 |
| 37 | £170.79 | £17.92 | £4130.70 |
| 38 | £171.50 | £17.21 | £3959.20 |
| 39 | £172.22 | £16.50 | £3786.98 |
| 40 | £172.93 | £15.78 | £3614.05 |
| 41 | £173.65 | £15.06 | £3440.40 |
| 42 | £174.38 | £14.33 | £3266.02 |
| 43 | £175.10 | £13.61 | £3090.92 |
| 44 | £175.83 | £12.88 | £2915.08 |
| 45 | £176.57 | £12.15 | £2738.52 |
| 46 | £177.30 | £11.41 | £2561.21 |
| 47 | £178.04 | £10.67 | £2383.17 |
| 48 | £178.78 | £9.93 | £2204.39 |
| 49 | £179.53 | £9.18 | £2024.86 |
| 50 | £180.28 | £8.44 | £1844.59 |
| 51 | £181.03 | £7.69 | £1663.56 |
| 52 | £181.78 | £6.93 | £1481.78 |
| 53 | £182.54 | £6.17 | £1299.24 |
| 54 | £183.30 | £5.41 | £1115.94 |
| 55 | £184.06 | £4.65 | £931.88 |
| 56 | £184.83 | £3.88 | £747.05 |
| 57 | £185.60 | £3.11 | £561.45 |
| 58 | £186.37 | £2.34 | £375.08 |
| 59 | £187.15 | £1.56 | £187.93 |
| 60 | £187.93 | £0.78 | £0.00 |
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