Loan Calculator

Estimate monthly loan payments, total interest and repayment.

Enter your details and select Calculate.

This tool provides an estimate. Verify results before making financial, educational or medical decisions.

Loan repayments and interest

This guide explains how to use the calculator, includes an example, discusses limitations and answers common questions.

Loan repayment estimates show how borrowing amount, annual interest rate and term affect monthly cost and total interest.

How to use this calculator

Enter principal, annual rate and term. For a fixed-rate amortising loan, monthly rate = annual rate ÷ 12 and the payment is calculated over the number of months.

Worked example

A £10,000 loan at 6% annual interest over 5 years has an approximate monthly payment of £193.33 and total interest of about £1,600.

When this calculator is useful

Useful for comparing personal loans, car finance and repayment-term scenarios.

When not to rely on it

Does not automatically include arrangement fees, early repayment charges, variable interest, insurance or a lender’s exact APR methodology.

Practical tip

Check the total repayable amount and lender terms, not just the monthly instalment.

Frequently asked questions

Is APR the same as the interest rate?

Not always. APR can incorporate certain borrowing costs and may differ from the nominal rate.

Does a longer loan reduce the monthly bill?

Usually yes, but total interest typically rises.

What if the interest rate is zero?

For an ordinary equal-payment loan, principal is divided by the number of payments.

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Educational information only. Results are estimates unless otherwise stated. Verify important financial, medical or legal decisions with a qualified professional.