Loan Repayment Calculator

Estimate your monthly repayments over a range of amounts, terms & APRs

Amount (£100 - £10,000)
Term (3 - 60 months)
Annual Percentage Rate (APR)
Monthly payments:
Total you will Pay:
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This loan calculator is for illustrative purposes only – get your payment terms from your chosen lender prior to signing your loan agreement.


Representative 49.9% APR

Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.


How to use the loan calculator?

This calculator helps you estimate your monthly repayments and total amounts repayable across

  • Different loan amounts
  • Different loan terms
  • Different APRs

Change the sliders to see the effect on monthly repayments and the total amount repayable


What are typical % APR’s? *

  • GOOD CREDIT – 6.60% APR
  • FAIR CREDIT – 23.3% APR
  • POOR CREDIT (with a guarantor) – 9.0% APR
  • POOR CREDIT (no guarantor) – 99% to 1,200%

* APR’s depend on your status and loan type



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Frequently Asked Questions

This depends on your own personal circumstances 🤷‍♀️

  • Need – how much you need, versus
  • Afford – how much you can afford, versus
  • Qualify – how much you qualify for, versus
  • Guarantor – how much your guarantor qualifies to support

Minimising borrowing typically lowers your financial commitment and minimises the amount of interest you must pay back.

  • Do a budget – If you’re unsure as to how much you can afford to borrow, the Citizens Advice Bureau’s Budgeting Tool is a great place to start.
  • Lender affordability checks – all lenders will undertake affordability checks prior to approving a loan application.

This is the period of time 📆

  • You’ll be making the loan repayments for – 4 weeks, 2 years, etc.
  • Against which the repayments are calculated

Effect of loan term on what you repay:

If you increase the term the monthly typically payments reduce, but the total interest payable increases; for example:

12-Month Repayment Term (borrowing £1,000 at an interest rate of 49.7%)

  • Monthly repayment – £102.98
  • Total amount payable – £1,235.72
  • Total interest payable – £235.72

60-Month Repayment Term (also borrowing £1,000 at an interest rate of 49.7%)

  • Lower Monthly Repayment – £39.42
  • Higher total amount payable – £2,365.07
  • Higher total interest payable – £1,365.07

These are only examples; to get lender quotes as to what you are likely to pay fill out our quick 3-minute form

A longer-term and lower monthly payment may seem attractive but you will have

  • The debt for longer
  • A higher amount of interest to payback

Typically, you should pay the maximum you can afford per month to minimise the interest you have to pay, but ensuring the payments are comfortably affordable.

The Definition of ‘Representative APR’ is

  1. 51% of customers – the effective rate of interest that is paid by at least 51% of that companies loan customers.
  2. All fees and interest charges – taking into account all charges and fees associated with that product.

In the UK, Representative APR is considered the most accurate way to representing lender costs to simply compare different loans.

See FAQ: What does representative APR mean?


Rep APR example:

  • Our Representative APR is currently 49.9%; this is because over 51% of our customers pay an average rate of 49.9% APR including all fees and charges with their chosen lender.
  • This is still an average, but it helps you to compare one lender with another.

This is the yearly total cost of the loan expressed as a percentage (%).

  • A good place to start – this is a good starting point when looking at the costs.
  • Does not include other fees and charges – if there are any other fees associated with the loan, these are not included in APR.
  • Not as accurate as Representative APR – for a better idea of what your borrowing costs from a lender will be, consider the Representative APR, as 1. above, as this does include all other ‘fees and charges’.

When comparing loans, always use ‘Rep APR’ and not ‘APR’, this means you are more accurately comparing total average loan costs.

An estimate of the monthly repayment based on

  • The amount borrowed
  • Loan term
  • APR

Typically remains constant for the duration of the loan term 👍

The figures on our calculator are estimates, to get lender quotes as to what you are likely to pay (based on your circumstances and the lender’s products) fill out our 2-minute form

The total amount that you will have to repay including 💷

  • The initial capital sum borrowed
  • All interest
  • All fees and charges

See our Frequently Asked Questions section

We cannot offer advice

There is some great information here: moneyadviceservice.org.uk (set up by the UK government), see: ‘Help With Loans’ by moneyadviceservice.org.uk


Why use this website?

We love guarantor loans and have been helping people get easy access to the very best deals since 2015.

We even do no guarntor loans!

Fast

Easy access to all the best deals. One simple form to over 35 lenders.

(zero impact on your credit file)

Free

This site is free for you to use – all loans cost the same as if you went to the lender directly.

(we’re paid by the lenders)

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