Calculate monthly repayments, total interest and true cost of any personal loan or car finance. Enter amount, term and rate — get instant results.
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Monthly Payment
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Total Interest
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Total Repayment
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APR (approx.)
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APR vs Interest Rate: The interest rate is the base cost of borrowing. The APR (Annual Percentage Rate) includes fees and charges, representing the true yearly cost. Always compare loans by APR, not just the monthly payment. UK personal loan APRs range from ~6% to 30%+ depending on your credit score.
FAQs
Monthly payment = Loan × (r/(1−(1+r)&sup{-n})). Example: £10,000 at 7.9% over 60 months → monthly rate = 7.9%/12 = 0.658% → payment = £202.26/month → total repaid £12,135.
Most UK personal loans allow early repayment, but lenders can charge an early repayment fee of up to 58 days’ interest. Always check the terms before overpaying. Early repayment significantly reduces total interest paid.