UK Loan Repayment Calculator
How much will a personal loan or car finance actually cost you? Enter the amount, rate and term to see your monthly payment, total interest, and the true cost of borrowing.
How to use this calculator
- Enter loan amount.
- Enter annual interest rate (APR).
- Enter loan term.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
A fixed-rate personal loan is amortised: each monthly payment covers the interest accrued on the remaining balance plus a slice of the principal, so the payment stays level for the whole term. Early payments are mostly interest, and the balance falls faster near the end. The calculator uses your APR and term to produce the exact monthly payment, then totals the interest and the full cost of the loan. Worked example: £10,000 over 5 years at 7.9% costs £202 a month — £12,138 in total, of which £2,138 is interest. Rates vary a lot by credit score: the best borrowers see single-digit APRs while some car finance runs into double digits.
Frequently asked questions
What is a typical UK personal loan rate in 2026?
The best personal loan rates are around 6–7% APR for low-risk borrowers borrowing £7,500+, while higher-risk borrowers can see 15–30% or more. Your rate is personal — check eligibility with a soft search before applying, and compare at least three lenders.
Is APR the same as the interest rate?
APR includes the interest plus most fees, expressed as one annual rate, so it's the right number for comparing loans. Some lenders quote a monthly rate, which looks smaller but compounds to a higher annual cost — always compare APRs.
What does 'interest rate risk' mean for a fixed loan?
Your rate is fixed for the term, so your payment never changes regardless of what the Bank of England does — unlike credit cards and variable-rate borrowing. That certainty is the main advantage of a personal loan over a credit card for large purchases.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect the current tax year and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: GOV.UK income tax rates · National Insurance · Stamp Duty Land Tax.