Finance & Money

Loan Repayment Calculator

Before you sign a personal loan or car finance agreement, knowing the monthly payment and total interest helps you compare offers on a like-for-like basis.

This free loan repayment calculator uses the standard capital-and-interest formula: enter the amount borrowed, the annual rate and the term in years to see monthly payments, total repayable and total interest. Private and instant in your browser.

It models a fixed rate with level monthly payments. Arrangement fees, optional insurance, balloon payments and variable rates are not included — always read the pre-contract credit information from the lender.

Fixed-rate amortising loan model · not a broker quote

Works for personal loans, car finance (HP-style fixed repayment) and similar products. Representative APR, fees and early settlement terms vary by lender — check the pre-contract credit information.

Loan amount (£)

Interest rate (% APR)

Use the quoted annual rate

Term (years)

e.g. 3, 4 or 5

Examples:

Estimated repayments

Monthly payment£248.38

Total repayable£11,922.04

Total interest£1,922.04

Number of payments48 months

Interest as % of loan19.2%

Guidance only — not a credit offer. Arrangement fees, payment protection, balloon payments and variable rates are not included. For home loans use the UK Mortgage Calculator.

How to use this tool

Enter the loan amount you plan to borrow.
Enter the interest rate as an annual percentage (APR-style rate from the quote).
Enter the term in years (for example 3, 4 or 5).
Review monthly payment, total interest and total repayable.
Try example scenarios or copy results to compare lenders.

Personal loans vs car finance vs mortgages

Unsecured personal loans and many hire-purchase style car deals use fixed monthly repayments over a set term — the same family of maths as this tool. Mortgages are also amortising but often involve LTV, product fees and much longer terms; use our dedicated UK Mortgage Calculator for home loans.

Credit cards are revolving: the balance and interest change with new spend and variable payments. Use the Credit Card Payoff Calculator if you are clearing card debt rather than a fixed loan.

What “APR” means here

Lenders publish a representative APR that can include fees annualised under regulated rules. This calculator treats the percentage you type as a simple annual interest rate compounded monthly for repayment estimates. If a fee is paid upfront, you may want to add it to the loan amount or compare total amount payable on the lender’s illustration.

Frequently asked questions

Is this suitable for car finance?

Yes for simple fixed-term, fixed-rate repayment estimates. Products with a large final balloon payment need a different structure — check the lender’s schedule.

How is the monthly payment calculated?

Using the standard amortisation formula with a monthly rate of APR÷12 and n = years × 12 payments, assuming level payments that clear the balance at the end of the term.

Does it include fees?

No. Arrangement or option-to-purchase fees are not added automatically. Include them in the loan amount if they are financed, or add them to total cost manually.

Can I model a 0% loan?

Yes. Set the rate to 0 to split the principal evenly across the term.

Is my data stored?

No. All maths runs in your browser.