Understand your loan before you borrow.
Estimate your personal loan repayments, total interest and overall borrowing cost using the figures that matter most. Adjust the amount, rate and term to compare different borrowing scenarios.
Plan the repayment
Explore how borrowing amount, interest rate and loan term can affect the cost.
Calculate your personal loan repayment.
Enter your own figures below. Results remain hidden until you calculate, so there is no pre-filled dummy result to influence your estimate.
Loan details
Use figures from an offer or create your own scenario.
Loan repayment
Your result will appear after you enter the required figures.
What does a personal loan calculator show?
A personal loan calculator helps you estimate how much you could repay over a chosen period. By changing the loan amount, interest rate and term, you can see how different borrowing scenarios affect the cost.
The regular repayment is generally made up of two components: part of the original amount borrowed and interest charged on the outstanding balance.
A longer repayment term can make the regular payment lower because the borrowing is spread across more payments. However, interest may be charged for longer, which can increase the total cost of the loan.
The interest rate also has a significant effect. Even a relatively small difference in the rate can change the overall amount you repay, particularly on larger balances or longer terms.
Use the calculator to compare scenarios rather than treating a single result as a guaranteed loan offer. Actual terms depend on the lender, your circumstances, eligibility and the agreement offered.
What can change the cost of a personal loan?
Several factors can affect both your regular repayment and the overall amount you pay back.
Amount Borrowed
The larger the loan, the more capital you need to repay. Only borrowing what you genuinely need can help keep the overall cost manageable.
Interest Rate
The interest rate determines how much the borrowing costs. Compare the rate and APR rather than focusing only on the advertised monthly payment.
Loan Term
The term controls how long you make repayments. A longer term can lower the payment but may increase the total interest.
Fees & Charges
Some products may include arrangement fees or other charges. Always check the full agreement when comparing loan offers.
Affordability
A lender may consider income, existing commitments and other financial information when assessing whether repayments are affordable.
Credit Profile
Your circumstances and credit history can influence the products and rates available to you. Eligibility criteria differ between lenders.
Look beyond the monthly payment.
A personal loan may look affordable when judged only by its monthly repayment. The full cost gives you a better basis for comparing borrowing options.
The cheapest monthly payment is not always the cheapest loan.
Consider the balance between monthly affordability, loan duration and total cost.
Higher payment
A shorter term generally means fewer payments and can reduce the amount of interest charged over the life of the loan.
Lower payment
Spreading repayments over a longer period can make each payment smaller, but the total interest can be higher.
Affordable overall
The right term is one that provides a manageable repayment without unnecessarily extending the borrowing period.
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Personal Loan Calculator FAQs
Answers to common questions about personal loan calculations, interest rates, terms and repayments.
Understand the repayment. Then make an informed decision.
Use your own figures to explore different personal loan scenarios and understand the potential cost before applying.