Personal loan repayment calculator

Use this UK personal loan calculator to estimate your monthly repayment, total interest, payoff date, and full amortisation schedule. It’s useful for comparing loan quotes, checking the impact of overpayments, and understanding how much of each payment goes to interest versus principal.

Results are estimates. Lenders can calculate interest differently (daily vs monthly), apply fees in different ways, and vary rates based on eligibility. If you’re comparing offers, use the representative APR and the exact term from your quote.

UK-focused Full schedule Optional overpayments

What this assumes

  • Fixed APR and fixed contractual payment across the term.
  • Interest compounds monthly (APR ÷ 12).
  • Arrangement fee is treated as added to the loan balance if entered.
  • Overpayments reduce the term (payment stays the same; you pay off sooner).
  • Final payment may be smaller than the regular monthly payment.

Loan details

Enter your figures to generate a repayment plan.

Amount you want to borrow (excluding fees).
Use the representative APR from your quote.
Loan term
Typical personal loans are 1–7 years.
Overpayments reduce the term and total interest.
This calculator treats the fee as added to the loan balance.

Results

Monthly repayment
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—
Payoff date
—
—
Total interest
—
Estimated interest paid
Total cost
—
—
Payment timeline —
Checkpoint Payment Interest Balance
How to use these results
  • Monthly repayment is your contractual payment excluding any overpayment.
  • Compare total interest across different APRs and terms to gauge overall cost.
  • If overpaying, check your lender’s terms for fees or overpayment limits.
  • Use the schedule to see when your balance falls below key thresholds.

Worked UK example

£10,000 over 5 years at 7.9% APR

Loan amount
£10,000
APR
7.9%
Term
60 months
Estimated monthly repayment
~£202

If you added a £50 overpayment each month, you would typically repay the loan earlier and reduce total interest. The exact savings depend on how interest is calculated and whether any fees apply.

Assumptions

Important details that affect loan costs

Interest calculation

Many UK lenders calculate interest daily. This tool uses a monthly rate (APR ÷ 12) to produce a clear amortisation schedule.

Fees

Arrangement fees can be paid upfront or added to the loan. This calculator treats the fee as financed (added to the balance) so you see the cost of borrowing including the fee.

Overpayments

Overpayments are assumed to reduce the term. Some lenders reduce future payments instead. Check your agreement if you’re planning to overpay.

FAQs

Common questions about UK personal loans

What APR should I use?

Use the representative APR from the loan quote you’re comparing. Your personal rate may differ based on eligibility and affordability checks.

Why does my lender quote a slightly different monthly payment?

Lenders can calculate interest daily, round differently, and apply fees in different ways. Small differences are normal, especially when fees are added to the balance.

Does overpaying always reduce interest?

Usually, yes. Paying down principal earlier reduces the balance on which interest is charged. Some loans have overpayment limits or charges, so check your terms.

What happens if the APR is 0%?

If APR is 0%, your monthly repayment is the loan amount (plus any financed fee) divided evenly across the term. Overpayments still shorten the term.

Should I choose a longer term for a lower payment?

A longer term often lowers the monthly payment but increases total interest. Compare total cost and ensure the payment is affordable without stretching the term unnecessarily.

Is a personal loan cheaper than credit card borrowing?

It depends on the APR and how quickly you can repay. A lower-rate loan can reduce interest, but you should also consider fees, flexibility, and whether a 0% balance transfer is available.

Can I use this for debt consolidation?

Yes. Enter the consolidation amount, APR, and term to estimate a repayment plan, then compare it with your current debt costs. Always consider eligibility and any early repayment charges on existing debt.

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