Personal Loan Calculator UK
Work out your UK personal loan repayments. Enter the amount, representative APR and term to see your monthly payment, total interest and total amount repayable.
Last updated 21 June 2026 · Written and reviewed by Mustafa Bilgic
Personal loan calculator
Monthly payment + total interest.
Estimate only — figures use the latest published UK rates. Always confirm on GOV.UK.
What will a personal loan cost me?
A personal loan is repaid in fixed monthly instalments over a set term. Each payment covers some interest and some of the amount you borrowed, so the balance falls to zero by the end. The two figures that matter most are your monthly payment and the total amount repayable — the loan plus all the interest. The headline cost is the representative APR, which includes interest and any compulsory fees.
Borrow £10,000 at 7.9% APR over 36 months and you pay about £312 a month, repaying roughly £11,245 in total — around £1,245 of interest.
How loan repayments are worked out
This calculator uses the standard amortising loan formula. It converts your APR into a monthly rate, then spreads the loan across the number of months so each payment is equal. Early payments are mostly interest; later ones are mostly capital. A longer term lowers the monthly payment but increases the total interest, while a shorter term costs more each month but less overall.
APR, fees and the representative rate
Lenders advertise a representative APR, which at least 51% of approved applicants must get — your personal rate could be higher depending on your credit profile. The APR rolls together interest and compulsory fees, making it the fairest way to compare loans. Watch for early-repayment charges if you might clear the loan early. The free, government-backed MoneyHelper service explains how to compare loans safely.
Borrow responsibly
Only borrow what you can comfortably repay. Before taking a loan, check whether a credit card or savings could be cheaper, and build the repayment into your monthly budget. If you are struggling with debt, Citizens Advice and StepChange offer free, confidential help.
Frequently asked questions
How are personal loan repayments calculated?
Repayments use an amortising formula: the loan and interest are spread evenly across the term so every monthly payment is the same. Early payments are mostly interest, and later payments are mostly capital, until the balance reaches zero.
Does a longer loan term cost more?
Usually yes. A longer term lowers your monthly payment but means you pay interest for longer, so the total cost is higher. A shorter term costs more each month but less overall.
What is representative APR?
Representative APR is the advertised rate that at least 51% of approved applicants receive. It includes interest and compulsory fees. Your own rate may be higher depending on your credit history and the amount borrowed.
Will using this calculator affect my credit score?
No. This is an illustrative calculator and does not run a credit check or contact any lender. Only a formal loan application with a lender can affect your credit file.
Can I repay a personal loan early?
Often yes, but some lenders charge an early-repayment fee, typically up to one or two months' interest. Check your loan agreement, as repaying early can still save money overall.