What your payment includes
A standard loan payment is made up of principal and interest. Early payments often contain more interest because the balance is larger; as the balance falls, more of each payment can reduce principal.
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Loan repayment calculator UK
Calculate monthly payments, total interest, and the full amortisation schedule for any loan.
Your details
Start with the loan amount, interest rate, and term, then test a realistic extra payment.
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See your payment schedule
Run the calculator to compare the monthly payment, payoff timing, and total interest.
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Enter your loan details and run the calculator.
How it works
Understanding loan payment estimates
How term and APR affect the cost
A longer term can lower the required monthly payment but usually increases the total interest paid. A higher APR has a similar effect. Compare the monthly cost with the total cost before choosing a term.
- Loan amount: The starting principal used in the estimate.
- APR: The annual rate used to estimate monthly interest.
- Term: The planned number of monthly payments.
Check the terms before overpaying
Extra payments can shorten the projected schedule and reduce interest. Confirm how your lender applies overpayments, and check for fees or restrictions before changing your payment plan.