Loan Repayment Calculator
Enter your loan amount, interest rate and term to see your monthly repayment, total interest and total cost.
This calculator provides illustrative estimates only. It does not account for fees, early repayment charges, or variable rates. Always confirm terms with your lender before committing. For independent comparisons of UK loans, visit QuidCompare.
How repayment loans work
With a repayment (capital and interest) loan, each monthly payment covers both the interest accrued and a portion of the original capital. Early payments are mostly interest; later payments are mostly capital. By the end of the term the balance is zero.
With an interest-only loan, you pay only the interest each month. The capital must be repaid separately at the end of the term. This gives a lower monthly payment but a large final lump sum.
The calculator uses the standard annuity formula for repayment loans: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the principal, r the monthly rate, and n the number of months.
For help comparing actual loan products available in the UK, QuidCompare publishes independent guides to personal loans, business loans and short-term finance. For short-term business lending specifically, Credicorp provides working capital to UK limited companies from £50–£500,000 over 14–84 days.