Calculator
Personal loan calculator
FLD is not a lender or a credit broker and does not arrange credit. This is general information, not advice to borrow. Any representative APR shown is an example, not a personal quote: the rate you are offered depends on your circumstances and may be higher.
Last updated: .
Enter a loan amount, an APR and a term to see an estimated monthly repayment, the total you’d repay and how much of that is interest. It assumes a fixed rate and equal monthly payments, like a typical UK personal loan.
Illustrative only, not financial advice. Results depend entirely on the figures you enter. Figures filled in below are labelled “Example figure” — they aren’t live rates, offers or recommendations.
Estimate your repayments
Your illustrative results
- Monthly repayment
- –
- Total repaid
- –
- Total interest
- –
The fixed amount you’d pay each month.
All monthly repayments added together.
Total repaid minus the amount borrowed.
How this calculator works
It converts the APR into a monthly rate and works out the equal monthly payment that would clear the loan by the end of the term. Real loans can differ: lenders round payments, some charge fees, and the rate you’re offered can be different from the advertised representative APR. See our APR explained guide.
Things to check
- The personal rate you’re actually offered — the advertised rate only has to be given to some applicants.
- Any fees, and whether there’s a charge for paying the loan off early.
- Whether the lender offers a soft search, which shouldn’t affect your credit score — see UK credit scores.
- Whether the monthly payment fits comfortably in your budget, even if your circumstances change.
The formulas we use
Monthly rate from APR: r = (1 + APR)^(1/12) − 1.
Monthly repayment: M = (P × r) ÷ (1 − (1 + r)^−n), where P is the amount borrowed and n the number of months. If the APR is 0%: M = P ÷ n.
Total repaid: M × n. Total interest: Total − P.
FAQ
Is the result what a lender will charge me?
Not necessarily. It’s an estimate from the figures you enter. Lenders set your rate after looking at your application, and fees or rounding can change the numbers.
What happens at 0% APR?
The repayment is simply the amount borrowed divided by the number of months, with no interest.
Does this work for credit cards?
Not really — card balances don’t usually have a fixed term. Try our credit card payoff calculator instead.
Does this calculator store my figures?
No. Everything is worked out in your browser and nothing is stored or sent anywhere.
Get our weekly email
The Friday Finance Lowdown — five minutes of the money stuff worth knowing.
Free to join. See our privacy policy for how we handle your email address.