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UK loan calculator

Loan Repayment Calculator UK

Work out the repayments on any loan: personal, car or consolidation. See your monthly or weekly repayment, the total interest and a full year-by-year breakdown. Free, no signup.

Free, no signupWorks for any loanTotal interest shown
Your loan
How much you're borrowing
£
Your annual rate (% APR / p.a.)
%
How long you'll take to repay it
years
Your repayment
£211.98/month
60 repayments of £211.98£2,719 total interest
1y2y3y4y5y
The balance falls to zero over the term as each repayment chips away at the principal.
Repayment per month£211.98
Number of repayments60
Amount borrowed£10,000
Total interest£2,719
Total repayableWhat you borrowed plus interest over the full term£12,719
Amortisation summary
YearInterestPrincipalBalance left
1£918£1,626£8,374
2£749£1,795£6,579
3£563£1,981£4,598
4£358£2,186£2,412
5£131£2,412£0
Early repayments are mostly interest, later ones mostly principal, so the balance falls faster over time.
Paying it off early?
Overpaying reduces the balance every future interest charge is worked out on, so even small extra amounts cut the interest. See the effect with the overpayment calculator, or check the maths with the interest calculator.
Estimate only. Assumes a fixed rate for the full term and excludes arrangement fees, early repayment charges and any change in rate. Your representative APR and fees will vary by lender. A guide, not financial advice.
Simon Chadwick
Simon Chadwick
Founder, Orbit Money
Method: standard amortisation formulaUpdated: 16 July 2026Sources: MoneyHelper

How your loan repayment is worked out

Most UK loans use a level repayment, where you pay the same amount every period until the balance reaches zero. Each repayment covers the interest charged on the balance for that period, and whatever is left over reduces the amount you owe. Because the balance shrinks over time, the interest portion of each repayment falls and the principal portion rises. The formula that ties it together is repayment = P × r ÷ (1 − (1 + r)−n), where P is the amount borrowed, r is the interest rate for a single period, and n is the total number of repayments. This calculator applies it for monthly and true weekly repayments.

Works for any loan

The same maths drives a personal loan, a car loan and a debt consolidation loan, so this calculator handles all of them. Enter the amount you are borrowing, the annual rate as an APR or a p.a. figure, and the term in years or months. If you repay weekly rather than monthly, switch the frequency and the tool works the repayment out on a true weekly period, with 52 repayments a year, not the monthly figure divided by four.

APR, interest and the total you repay

The headline rate matters, but the number that tells you the real cost is the total repayable. A longer term lowers each repayment yet raises the total interest, because the balance sits there for longer. A UK lender only has to give its advertised representative APR to just over half of accepted applicants, so the rate you are offered can differ. Compare the total repayable across a couple of options before you commit.

A worked example

Take a £10,000 loan at 9.9% APR over five years, repaid monthly. The period rate is 9.9% ÷ 12, over 60 repayments, which gives a repayment of about £212.01 a month. Across the full term that adds up to roughly £12,720 repaid, of which around £2,720 is interest. Shorten the term to three years and the monthly repayment rises to about £322, but the total interest drops to around £1,590, which shows why the term matters as much as the amount you borrow.

Frequently asked questions

How do I calculate loan repayments?
Repayments on a level-repayment loan use the amortisation formula: repayment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the interest rate for one period, and n is the total number of repayments. Interest is charged on the balance still owing, so early repayments are mostly interest and later ones are mostly principal. This calculator applies that formula and shows the repayment, the total interest and the total you repay.
What is the formula for calculating loan repayments?
The standard formula is repayment = P × r ÷ (1 − (1 + r)^−n). For a monthly repayment, r is the annual rate divided by 12 and n is the number of months. On a £10,000 loan at 9.9% over five years, r is 0.099 ÷ 12 and n is 60, which gives a repayment of about £212.01 a month. The calculator does this for you and also handles true weekly repayments and terms set in months.
How much are the repayments on a £10,000 loan?
It depends on the rate and the term. At 9.9% APR over five years, a £10,000 loan costs about £212.01 a month, roughly £12,720 repaid in total and about £2,720 of interest. Over three years the monthly repayment rises to around £322 but the total interest falls to about £1,590, because you clear the balance faster. Enter your own amount, rate and term above to see your figures.
Is 9.9% APR good for a personal loan?
For an unsecured UK personal loan, an APR around 9.9% is fairly typical for a mid-sized loan and a fair credit record, though the best-advertised rates on larger loans can sit lower. Lenders only have to offer their advertised representative APR to 51% of accepted applicants, so the rate you are actually offered can be higher. Always compare the total repayable, not just the headline APR, because fees and term change the real cost.
Does paying off a loan early save money?
Usually yes. Overpaying or settling early reduces the balance that future interest is charged on, so you pay less interest overall and clear the debt sooner. Under UK rules a lender can apply an early repayment charge, often up to about one to two months of interest, so check your agreement first. Even with a small charge, clearing a higher-rate loan early tends to come out ahead.

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Simon Chadwick
About the author
Simon Chadwick
Founder of Orbit Money

Simon is the founder of Orbit Money, a tool that helps people track subscriptions and recurring spend. He builds Orbit's free money calculators and writes about personal finance for UK and Australian readers.

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This tool is a guide, not financial advice.