Precision Utility
UK Loan Repayment
Calculator
Avg UK Personal Loan
6.9%
Avg Term
5 Years
Find out exactly what a personal loan will cost you before you borrow. Enter the loan amount, interest rate and term to see your fixed monthly repayment, total interest charged and a full year-by-year amortization schedule. Whether you're consolidating debt, funding home improvements or covering a large purchase, this calculator helps you compare options and plan your repayments with confidence.
Loan Details
Monthly Repayment
£0.00
Total Repayable
£0
Total Interest
£0
Loan Amount
£10,000
Monthly Payment
£0.00
Total Interest
£0
Total Repayable
£0
How the loan calculator works
Start by entering the amount you want to borrow. UK personal loans typically range from £1,000 to £50,000, though some lenders offer up to £100,000 for secured borrowing.
Next, set the annual interest rate (APR) and the loan term in years. Most unsecured personal loans run from 1 to 7 years, with some lenders offering terms up to 10 years for larger amounts.
Hit calculate and you'll see your fixed monthly repayment, the total amount you'll repay over the full term, and how much of that is pure interest. The payment structure bar shows the split between principal and interest at a glance.
Open the amortization schedule to see exactly how your balance reduces year by year. In the early months, a larger share of each payment covers interest — over time, more goes toward paying down the actual debt.
What you need to know about UK personal loans
When comparing loans, always look at the APR rather than a flat interest rate. APR (Annual Percentage Rate) includes all mandatory charges and gives you the true cost of borrowing, making it easier to compare products fairly.
Key facts for UK borrowers:
- Secured vs unsecured — unsecured loans don't require collateral but typically carry higher rates (5–15% APR). Secured loans use an asset like your home as guarantee, offering lower rates but putting the asset at risk
- Typical rates — the best unsecured personal loan rates in the UK sit around 5–7% APR for borrowing between £7,500 and £15,000. Smaller or larger amounts often attract higher rates
- Credit score impact — the rate you're offered depends on your credit history. The advertised "representative APR" only has to be offered to at least 51% of successful applicants
- Early repayment — under UK regulations, you can settle most personal loans early with a maximum penalty of 58 days' interest
- Affordability — use our budget calculator to check you can comfortably afford the monthly repayment alongside your other outgoings
This calculator uses a standard repayment (capital and interest) amortization formula. The figures are for illustration only — your actual rate will depend on your credit profile and the lender's assessment.
Frequently asked questions
How do I calculate my monthly loan repayment?
Enter the amount you want to borrow, the annual interest rate (APR) and the loan term in years. The calculator uses a standard amortization formula to work out your fixed monthly repayment, total interest and total amount repayable.
What is APR and why does it matter?
APR (Annual Percentage Rate) is the total cost of borrowing expressed as a yearly percentage. It includes the interest rate plus any mandatory fees, so it gives you a fairer way to compare loans from different lenders than the flat interest rate alone.
What is the difference between a secured and unsecured loan?
An unsecured personal loan is not tied to any asset, so the lender relies on your creditworthiness. A secured loan is backed by collateral such as your home or car, which usually means a lower interest rate but puts the asset at risk if you miss payments.
How does the loan term affect what I pay?
A longer term reduces your monthly payment but increases the total interest you pay over the life of the loan. A shorter term means higher monthly payments but less interest overall, so you clear the debt sooner and more cheaply.
Can I repay my loan early?
Most UK personal loans allow early repayment. Under the Consumer Credit Act, lenders can charge up to 58 days' interest as an early settlement fee, but many lenders waive this entirely. Check your loan agreement for specific terms before settling early.
What is an amortization schedule?
An amortization schedule shows how each loan payment splits between interest and principal over the full term. In the early months, a larger portion covers interest. Over time, more of each payment goes toward reducing the outstanding balance.