Loan calculator
Calculate monthly repayments and interest on a personal or car loan.
Estimate loan repayments, include fees and explore how monthly or one-off overpayments could reduce interest and shorten the term. Follow the balance and payments on the graph, with a full monthly breakdown.
The full cost of borrowing
Example figures. Enter your details and calculate your loan.
Loan balance & payments
Hover or tap the graph to explore. Keyboard: arrow keys, Home and End.
Paid so far includes upfront loan fees and all modelled repayments. The balance falls to zero when the loan is cleared.
- Loan before fees
- £10,000.00
- Fees (upfront)
- £0.00
- Starting balance including financed fees
- £10,000.00
- Loan cleared after
- 5 years
- Final payment
- £193.33
- Total interest + fees
- £1,599.68
Figures assume a constant rate and on-time monthly payments. Not a quote, affordability check or recommendation to borrow. Actual lender calculations and available terms can differ.
View monthly repayment breakdown
| Month | Payment | Interest | Capital repaid | Paid so far | Balance |
|---|---|---|---|---|---|
| 0 | £0.00 | £0.00 | £0.00 | £0.00 | £10,000.00 |
| 1 | £193.33 | £50.00 | £143.33 | £193.33 | £9,856.67 |
| 2 | £193.33 | £49.28 | £144.04 | £386.66 | £9,712.63 |
| 3 | £193.33 | £48.56 | £144.76 | £579.98 | £9,567.86 |
| 4 | £193.33 | £47.84 | £145.49 | £773.31 | £9,422.37 |
| 5 | £193.33 | £47.11 | £146.22 | £966.64 | £9,276.16 |
| 6 | £193.33 | £46.38 | £146.95 | £1,159.97 | £9,129.21 |
| 7 | £193.33 | £45.65 | £147.68 | £1,353.30 | £8,981.53 |
| 8 | £193.33 | £44.91 | £148.42 | £1,546.62 | £8,833.11 |
| 9 | £193.33 | £44.17 | £149.16 | £1,739.95 | £8,683.95 |
| 10 | £193.33 | £43.42 | £149.91 | £1,933.28 | £8,534.04 |
| 11 | £193.33 | £42.67 | £150.66 | £2,126.61 | £8,383.38 |
| 12 | £193.33 | £41.92 | £151.41 | £2,319.94 | £8,231.97 |
| 13 | £193.33 | £41.16 | £152.17 | £2,513.26 | £8,079.80 |
| 14 | £193.33 | £40.40 | £152.93 | £2,706.59 | £7,926.87 |
| 15 | £193.33 | £39.63 | £153.69 | £2,899.92 | £7,773.18 |
| 16 | £193.33 | £38.87 | £154.46 | £3,093.25 | £7,618.72 |
| 17 | £193.33 | £38.09 | £155.23 | £3,286.58 | £7,463.48 |
| 18 | £193.33 | £37.32 | £156.01 | £3,479.90 | £7,307.47 |
| 19 | £193.33 | £36.54 | £156.79 | £3,673.23 | £7,150.68 |
| 20 | £193.33 | £35.75 | £157.57 | £3,866.56 | £6,993.11 |
| 21 | £193.33 | £34.97 | £158.36 | £4,059.89 | £6,834.74 |
| 22 | £193.33 | £34.17 | £159.15 | £4,253.22 | £6,675.59 |
| 23 | £193.33 | £33.38 | £159.95 | £4,446.54 | £6,515.64 |
| 24 | £193.33 | £32.58 | £160.75 | £4,639.87 | £6,354.89 |
| 25 | £193.33 | £31.77 | £161.55 | £4,833.20 | £6,193.33 |
| 26 | £193.33 | £30.97 | £162.36 | £5,026.53 | £6,030.97 |
| 27 | £193.33 | £30.15 | £163.17 | £5,219.86 | £5,867.80 |
| 28 | £193.33 | £29.34 | £163.99 | £5,413.18 | £5,703.81 |
| 29 | £193.33 | £28.52 | £164.81 | £5,606.51 | £5,539.00 |
| 30 | £193.33 | £27.70 | £165.63 | £5,799.84 | £5,373.37 |
| 31 | £193.33 | £26.87 | £166.46 | £5,993.17 | £5,206.91 |
| 32 | £193.33 | £26.03 | £167.29 | £6,186.50 | £5,039.61 |
| 33 | £193.33 | £25.20 | £168.13 | £6,379.82 | £4,871.48 |
| 34 | £193.33 | £24.36 | £168.97 | £6,573.15 | £4,702.51 |
| 35 | £193.33 | £23.51 | £169.82 | £6,766.48 | £4,532.70 |
| 36 | £193.33 | £22.66 | £170.66 | £6,959.81 | £4,362.03 |
| 37 | £193.33 | £21.81 | £171.52 | £7,153.14 | £4,190.52 |
| 38 | £193.33 | £20.95 | £172.38 | £7,346.46 | £4,018.14 |
| 39 | £193.33 | £20.09 | £173.24 | £7,539.79 | £3,844.90 |
| 40 | £193.33 | £19.22 | £174.10 | £7,733.12 | £3,670.80 |
| 41 | £193.33 | £18.35 | £174.97 | £7,926.45 | £3,495.83 |
| 42 | £193.33 | £17.48 | £175.85 | £8,119.78 | £3,319.98 |
| 43 | £193.33 | £16.60 | £176.73 | £8,313.10 | £3,143.25 |
| 44 | £193.33 | £15.72 | £177.61 | £8,506.43 | £2,965.64 |
| 45 | £193.33 | £14.83 | £178.50 | £8,699.76 | £2,787.14 |
| 46 | £193.33 | £13.94 | £179.39 | £8,893.09 | £2,607.75 |
| 47 | £193.33 | £13.04 | £180.29 | £9,086.42 | £2,427.46 |
| 48 | £193.33 | £12.14 | £181.19 | £9,279.74 | £2,246.27 |
| 49 | £193.33 | £11.23 | £182.10 | £9,473.07 | £2,064.17 |
| 50 | £193.33 | £10.32 | £183.01 | £9,666.40 | £1,881.16 |
| 51 | £193.33 | £9.41 | £183.92 | £9,859.73 | £1,697.24 |
| 52 | £193.33 | £8.49 | £184.84 | £10,053.06 | £1,512.40 |
| 53 | £193.33 | £7.56 | £185.77 | £10,246.38 | £1,326.63 |
| 54 | £193.33 | £6.63 | £186.69 | £10,439.71 | £1,139.94 |
| 55 | £193.33 | £5.70 | £187.63 | £10,633.04 | £952.31 |
| 56 | £193.33 | £4.76 | £188.57 | £10,826.37 | £763.74 |
| 57 | £193.33 | £3.82 | £189.51 | £11,019.70 | £574.23 |
| 58 | £193.33 | £2.87 | £190.46 | £11,213.02 | £383.78 |
| 59 | £193.33 | £1.92 | £191.41 | £11,406.35 | £192.37 |
| 60 | £193.33 | £0.96 | £192.37 | £11,599.68 | £0.00 |
How this loan estimate works
We calculate equal monthly repayments using the loan balance, a constant nominal annual interest rate divided by 12, and the term in months. Payments are made at each month’s end. At 0% interest, the scheduled payment is the starting loan balance divided by the number of months.
Fees can be paid upfront or added to the loan. Financed fees attract interest; upfront fees do not. Percentage fees use the loan amount before fees. This does not model fees deducted from the cash advanced.
Overpayments are applied after monthly interest and the scheduled payment, with regular extras before a one-off payment. They reduce the balance and shorten the term while the scheduled payment stays the same. The final payment is limited to the amount owed. We do not model daily interest, payment holidays, rate changes, missed payments, insurance, balloon payments, lender settlement rules or early-repayment charges.
Interest rate is not the same as APR
APR reflects the annual cost of credit, including relevant fees, and helps compare offers. This calculator instead uses the nominal interest rate on a reducing balance and the separate fees you enter. Do not enter a flat rate or assume an advertised APR is the same as this input. If you only know the APR, use the lender’s repayment illustration. See MoneyHelper’s personal loan guidance.
Before making overpayments
Ask your lender how extra payments affect the term, monthly payment and any charges. For full early repayment, request a settlement figure. The interest savings here exclude lender charges and are not a statutory early-settlement calculation. Citizens Advice explains personal loans and early repayment.
Sources checked 7 September 2026. All rates shown are mathematical examples, not available offers. Results use unrounded monthly amounts; adding displayed rounded figures can differ by a few pence.
Calculation method
Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ)
P is the amount borrowed plus any financed fees, r is the nominal annual interest rate divided by 100 and then 12, and n is the term in months. For a zero-interest loan, the scheduled payment is P ÷ n. We calculate interest on the remaining balance each month, then subtract the scheduled payment and any selected overpayments. Overpayments shorten the term and the final payment is capped at the amount due.
Worked example
A £12,000 loan at 0% interest over 10 years has 120 payments of £100 and no interest. With a positive rate, each payment includes interest as well as repayment of the original amount.
Method documented: · How we check calculations · Report an error
Common questions
Should I enter APR or the interest rate?
Enter the nominal annual interest rate on a reducing balance, not APR or a flat rate. APR includes relevant credit costs and is useful for comparing offers. This calculator uses a separate interest rate and any fees you enter; it does not calculate APR. If you only know APR, use the lender’s repayment illustration.
Why does a longer term cost more overall?
At a positive rate, a longer term leaves money outstanding for longer. The monthly payment falls, but the total interest increases when the amount and rate stay the same.
Can I use this for PCP or a balloon-payment car agreement?
No. This model clears the balance through monthly repayments, with optional overpayments. It does not model balloon payments, optional purchase payments or flat-rate car finance.
Are loan fees included?
Enter fees in pounds or as a percentage of the original loan. Upfront fees are added to the total paid without attracting interest. Financed fees increase the balance and attract interest. Fees deducted from the cash advanced are not modelled.
Will my lender allow overpayments without a charge?
Check your agreement and ask your lender. This tool estimates interest saved before early-repayment charges or settlement adjustments. It assumes overpayments shorten the term rather than reduce the scheduled payment. Request a lender settlement figure before clearing a loan early.