Loan Repayment Calculator
Work out the monthly payment, total interest and total cost of a personal loan. See a full month-by-month schedule and the effect of paying extra each month.
Your loan
Optional.
Your results
Monthly payment
£200.99
Total interest
£2,059.14
Total repaid
£12,059.14
Time to clear
5 years
Month-by-month schedule
| Month | Payment | Interest | Capital | Balance |
|---|---|---|---|---|
| 1 | £200.99 | £63.56 | £137.43 | £9,862.57 |
| 2 | £200.99 | £62.69 | £138.30 | £9,724.27 |
| 3 | £200.99 | £61.81 | £139.18 | £9,585.09 |
| 4 | £200.99 | £60.93 | £140.06 | £9,445.03 |
| 5 | £200.99 | £60.04 | £140.95 | £9,304.08 |
| 6 | £200.99 | £59.14 | £141.85 | £9,162.23 |
| 7 | £200.99 | £58.24 | £142.75 | £9,019.48 |
| 8 | £200.99 | £57.33 | £143.66 | £8,875.82 |
| 9 | £200.99 | £56.42 | £144.57 | £8,731.25 |
| 10 | £200.99 | £55.50 | £145.49 | £8,585.76 |
| 11 | £200.99 | £54.57 | £146.42 | £8,439.34 |
| 12 | £200.99 | £53.64 | £147.35 | £8,291.99 |
| 13 | £200.99 | £52.71 | £148.28 | £8,143.71 |
| 14 | £200.99 | £51.76 | £149.23 | £7,994.48 |
| 15 | £200.99 | £50.82 | £150.17 | £7,844.31 |
| 16 | £200.99 | £49.86 | £151.13 | £7,693.18 |
| 17 | £200.99 | £48.90 | £152.09 | £7,541.09 |
| 18 | £200.99 | £47.93 | £153.06 | £7,388.03 |
| 19 | £200.99 | £46.96 | £154.03 | £7,234.00 |
| 20 | £200.99 | £45.98 | £155.01 | £7,078.99 |
| 21 | £200.99 | £45.00 | £155.99 | £6,923.00 |
| 22 | £200.99 | £44.00 | £156.99 | £6,766.01 |
| 23 | £200.99 | £43.01 | £157.98 | £6,608.03 |
| 24 | £200.99 | £42.00 | £158.99 | £6,449.04 |
| 25 | £200.99 | £40.99 | £160.00 | £6,289.04 |
| 26 | £200.99 | £39.98 | £161.01 | £6,128.03 |
| 27 | £200.99 | £38.95 | £162.04 | £5,965.99 |
| 28 | £200.99 | £37.92 | £163.07 | £5,802.92 |
| 29 | £200.99 | £36.89 | £164.10 | £5,638.82 |
| 30 | £200.99 | £35.84 | £165.15 | £5,473.67 |
| 31 | £200.99 | £34.79 | £166.20 | £5,307.47 |
| 32 | £200.99 | £33.74 | £167.25 | £5,140.22 |
| 33 | £200.99 | £32.67 | £168.32 | £4,971.90 |
| 34 | £200.99 | £31.60 | £169.39 | £4,802.51 |
| 35 | £200.99 | £30.53 | £170.46 | £4,632.05 |
| 36 | £200.99 | £29.44 | £171.55 | £4,460.50 |
| 37 | £200.99 | £28.35 | £172.64 | £4,287.86 |
| 38 | £200.99 | £27.26 | £173.73 | £4,114.13 |
| 39 | £200.99 | £26.15 | £174.84 | £3,939.29 |
| 40 | £200.99 | £25.04 | £175.95 | £3,763.34 |
| 41 | £200.99 | £23.92 | £177.07 | £3,586.27 |
| 42 | £200.99 | £22.80 | £178.19 | £3,408.08 |
| 43 | £200.99 | £21.66 | £179.33 | £3,228.75 |
| 44 | £200.99 | £20.52 | £180.47 | £3,048.28 |
| 45 | £200.99 | £19.38 | £181.61 | £2,866.67 |
| 46 | £200.99 | £18.22 | £182.77 | £2,683.90 |
| 47 | £200.99 | £17.06 | £183.93 | £2,499.97 |
| 48 | £200.99 | £15.89 | £185.10 | £2,314.87 |
| 49 | £200.99 | £14.71 | £186.28 | £2,128.59 |
| 50 | £200.99 | £13.53 | £187.46 | £1,941.13 |
| 51 | £200.99 | £12.34 | £188.65 | £1,752.48 |
| 52 | £200.99 | £11.14 | £189.85 | £1,562.63 |
| 53 | £200.99 | £9.93 | £191.06 | £1,371.57 |
| 54 | £200.99 | £8.72 | £192.27 | £1,179.30 |
| 55 | £200.99 | £7.50 | £193.49 | £985.81 |
| 56 | £200.99 | £6.27 | £194.72 | £791.09 |
| 57 | £200.99 | £5.03 | £195.96 | £595.13 |
| 58 | £200.99 | £3.78 | £197.21 | £397.92 |
| 59 | £200.99 | £2.53 | £198.46 | £199.46 |
| 60 | £200.73 | £1.27 | £199.46 | £0.00 |
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Understanding a personal loan
A personal loan is repaid in equal monthly instalments over a fixed term. At first much of each instalment is interest; over time more of it pays off the amount you borrowed.
Comparing the total cost, not only the monthly payment, shows the real difference between a short and a long loan.
APR and representative APR
The APR shows the yearly cost of borrowing, including some fees. Advertised "representative APRs" only have to be offered to at least 51% of applicants, so the rate you are offered may be higher. Check the quote you receive.
How to use this calculator
- Enter the amount you want to borrow, the APR and the term in months.
- Optionally add an extra amount to pay each month to see how much sooner you finish.
- Open the schedule to see each payment split between interest and capital.
How it is calculated
The monthly rate is derived from the APR as an effective annual rate: (1 + APR)^(1/12) − 1. The payment is the standard level-payment loan formula.
The schedule rounds to pence, and the final payment is adjusted so the balance finishes at exactly zero.
Worked example
Borrowing £10,000 at 7.9% APR over 60 months gives a payment of £200.99 a month and a total repaid of about £12,059, of which £2,059 is interest. Adding £50 a month finishes in 47 months and cuts the interest to £1,568.
Assumptions and limits
- A fixed rate, with payments made monthly on schedule.
- Arrangement fees and payment protection are not included unless you add them to the amount.
- Lenders can calculate interest slightly differently, so your agreement’s figures are the ones that count.
Common questions
Is the payment the same as my lender’s quote?
It should be very close. Small differences can come from how a lender applies interest or from fees, so use the figure in your agreement.
What does paying extra do?
It reduces the balance faster, so you pay less interest and finish sooner. Check whether your lender charges for early repayment.
Can I enter a 0% loan?
Yes. The payment is then simply the amount divided by the number of months.
Why does the last payment differ?
Payments are rounded to pence, so the final one is adjusted to clear the balance exactly.
Related guides
Related calculators
- Early Loan Settlement CalculatorEstimate the cost of settling a loan early and the interest you would save.
- Debt Consolidation CalculatorCompare your current debts with one consolidation loan, including fees.
- Credit Card Repayment CalculatorHow long to clear a card, what it costs, or the payment needed to finish by a set date.
These calculators give estimates based on the figures you enter and the assumptions listed above. They are not financial advice. Your numbers are worked out in your browser and are not sent to us.
This page provides general information only. It is not personalised financial, legal or tax advice, and rules and figures can change. Your situation is unique — please check official sources such as GOV.UK and MoneyHelper, and speak to a qualified, FCA-authorised debt adviser before making important decisions about your money.