Loan repayment calculator
See the monthly payment on a loan, the total you'll repay and how much of it is interest, from the amount, the APR and the term. Free, no sign-up, nothing leaves your browser.
- 1Type in your own numbers
- 2The tool works it out
- 3See the answer clearly
Use the APR the lender quotes you; the starting rate is only an example. This assumes a fixed rate and equal monthly payments.
How loan repayments are worked out
Most personal loans are repaid in equal monthly amounts. Each payment covers that month's interest on what you still owe, and the rest pays down the loan. Early on most of the payment is interest; by the end almost all of it is paying off the amount you borrowed.
Why the APR and the length matter
The APR is the yearly cost of borrowing including interest and required fees, so it's the fairest way to compare loans. A longer term means smaller monthly payments but more interest in total. The rate you're offered depends on your circumstances, so check the lender's own figures.
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