Find out what monthly repayments would be, how much you'll pay overall and how much you could borrow.
From the information provided, you could borrow £10,000 and pay back 60 monthly instalments of £250.00. If this loan was subject to 10.00% APR with no extra fees, then the total amount repayable would be £15,000.00. The figures in this calculator are for illustrative purposes only.
Find out your exact APR without effecting your credit score
This calculator has been designed to give you an idea of how much a loan would cost each month and the amount of interest that you would pay overall for the different loan terms. This is just an example and the actual interest rate you would get depends on your own personal circumstances and lender checks, the amount borrowed and the terms of the loan.
We’ve designed our loan calculator to let you try some different figures for how much you borrow and repay. It will help you work out how much you can borrow and still keep the monthly cost affordable.
Choose either ‘What are my repayments? or ‘What can I borrow?’ and enter just three things to get your instant estimate of your monthly repayments and the total cost of your loan:
Amount you wish to borrow
If you already know how much you need to borrow, just enter that. You can try lower or higher amounts to see how that affects monthly payments.
Or
Monthly repayments
You can enter how much you can afford each month to see how much you can borrow. Play around with the figures to explore your options.
Loan term
The longer the term, the lower the monthly payments. Changing the term could help you find a repayment level that fits your budget.
APR
Even a small change in APR (interest rate) can make a noticeable difference to your monthly repayment and the total cost of the loan. See ‘What are current APR rates?’ below for info on current rates.
You’ll instantly see how your choices affect your monthly repayments and the total amount you would repay overall. This gives you a clearer sense of what feels realistic for you. Here’s a bit more information about the four figures you’ll see:
This assumes a fixed-rate loan where repayments stay the same. Your payments could change if you make an overpayment and request your monthly payment to be reduced, or you apply to borrow more.
Either the amount you enter or your maximum loan based on how much you said you can pay back each month. It gives you an idea of what may be affordable, going off the information you’ve provided.
This shows how much interest you’d pay over the full term. If you make overpayments or clear your loan early, you’ll usually pay less interest overall, but check for any fees this may trigger.
This is the full amount you’d repay over the term, including the original loan and total interest charged. This may change if you make overpayments or repay the loan early.
A few extra points to consider
The results are estimates: The calculator provides an illustration based on the information you enter. Your actual loan offer will depend on the lender’s assessment and affordability checks.
Fees are not included: Arrangement fees or other charges could increase the overall cost if they’re added to your loan.
Lender T&Cs vary: Rules around overpayments, early repayment and payment adjustments differ between lenders, so always check the specific terms and conditions before applying.
Our personal loans calculator uses the three main factors that affect how much you would repay each month with a personal loan.
How much you borrow directly affects your monthly repayments and the total cost of the loan. Borrowing more usually means a lower interest rate, but you’ll typically pay more interest overall. Adjust the amount in the calculator to find a balance between the funds you need and affordable repayments.
The term determines how your repayments are spread out. A longer term usually means lower monthly payments, but you pay more interest overall. A shorter term increases the monthly cost but reduces the amount repayable. Changing the term in the calculator helps you find a repayment level that fits your budget.
APR is the interest rate you’ll be charged. Even small changes can affect both your monthly repayment and the total cost of the loan. Trying different APRs in the calculator can help you see how the rate impacts what you’ll pay.
You’ll see a box to enter the APR (interest rate) in our personal loans calculator. If you don’t yet know the kind of APR you can achieve, see below for examples of some of the cheapest interest rates currently available for personal loans:
Representative APR rates for personal loans | |
|---|---|
Loan amount | Cheapest rate* |
Under £3,000 | From 9.9% |
£3,000 to £4,999 | From 9.9% |
£5,000 to £7,499 | From 6.5% |
£7,500 to £15,000 | From 5.6% |
£15,001 to £20,000 | From 5.6% |
£20,001 to £25,000 | From 5.6% |
Over £25,000 | From 5.7% |
*Source: Money Saving Expert. Last updated 05 March 2026.
These ‘representative APR’ rates are useful for comparing options at a glance. It’s impossible to say exactly what APR you will get until you choose a specific lender and loan. The lowest representative APR may not be the rate you receive.
When you apply, the lender looks at your credit history and financial situation and gives you a personal APR. This could match the representative rate, but it could also be higher or lower.
At least 51% of accepted customers get a rate that is the same as, or lower than, the one advertised. Even people within the 51% may receive slightly different rates.
A loan calculator is a quick way to understand what a personal loan might cost you before you start comparing lenders. It helps you see whether the repayments are likely to fit comfortably into your monthly budget, without having to fill in any application forms.
It helps you see the effect of different loan amounts, repayments and interest rates. You can narrow down your options and feel more confident about the type of loan that could work for you before you look at real offers.
We don’t ask for any personal details, so using our calculator won’t leave a mark on your credit file. If you apply for a loan, the company you apply to will run a credit check before deciding whether to lend to you. Read about soft and hard credit checks in our guide.
It’s tempting to borrow a little extra “just in case”, but that can mean paying more interest than you need to. A good approach is to:
Work out the exact cost of what you’re planning.
Consider using savings to reduce the amount you need to borrow.
Play around with the calculator to test different terms.
Choose a monthly repayment that feels comfortable, not tight.
If the repayments feel like a stretch, you can reduce the loan amount or extend the term – just keep in mind that a longer term usually means paying more interest overall.
Lenders look at a mix of factors when deciding your rate, including:
Your credit score.
Your income and regular outgoings.
Your employment status.
Your borrowing history.
The loan amount and term.
A stronger credit profile usually means a lower rate. If your score needs a little love, even small improvements – like paying bills on time or reducing existing balances – can help over time.
Once you have a sense of what your repayments might look like, the next step is usually to compare real loan offers and apply for one you like the look of. Most lenders start with a soft credit check, which does not affect your credit score. This will enable them to give you an idea of the rate you could be offered and whether you are likely to be approved.
If you go ahead with a full application, they’ll run a hard credit check. If things go well and you are approved, the lender may get a decision within minutes.
Once approved, the money is often transferred the same day or within a few days – and sometimes even within hours. If you already bank with the lender, it can make the process of receiving the money into your account faster.
Page updated on 21st March 2026, Reviewed by Richard Groom