Loan Repayment Calculator UK: Monthly Payments
LOAN REPAYMENT CALCULATOR
Borrow wisely.
Repay faster.
Work out your monthly repayments and the total cost of a loan, and see how much time and interest overpaying saves.
Paying off a card? See how long credit card debt takes to clear.
Credit card payoff calculatorBEHIND YOUR NUMBER
A little understanding
goes a long way.
How are repayments worked out?
Each payment covers that month’s interest and pays off some of the loan. Early on, more goes to interest; later, more clears the balance.
Payment = P × r ÷ (1 − (1 + r)^−n)
Does overpaying help?
Yes. Extra payments go straight to the balance, cutting future interest. Check for early repayment charges first: UK personal loans can charge up to 58 days’ interest.
Is this financial advice?
No. These are estimates to help you plan and compare options. Rates, fees and tax rules change, so check the details with your provider or an independent financial adviser before making decisions.