Loan repayments
Estimate monthly repayments and interest for a fixed-rate repayment loan.
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Illustration only, not a lending quote or affordability assessment. Assumes a constant rate, monthly payments in arrears and no fees, missed payments or early repayments. A lender’s APR may include fees and is not interchangeable with this input.
How it works
Monthly rate r = annual nominal rate ÷ 100 ÷ 12. For n payments, payment = principal × r ÷ (1 − (1 + r)^(−n)). At 0%, payment = principal ÷ n.
A quick example
A £10,000 loan over 36 months at a 6% nominal annual rate gives an estimated monthly payment of £304.22.
Good to know
Why might a lender quote a different amount?
Fees, daily interest, payment dates, APR conventions and rounding can change the result. Use the lender’s repayment schedule for a decision.
Is the total based on rounded payments?
Totals use the unrounded payment and are rounded for display. The final payment on a real loan may be adjusted.