Loan calculator
See what a loan costs. Enter the amount, the yearly interest rate and the term, and get the monthly payment and the total interest.
How a loan payment is worked out
Each month you pay the same amount. Part of it covers that month’s interest on what you still owe, and the rest pays down the loan.
Early payments are mostly interest, so a longer term lowers the monthly payment but raises the total interest.
Common questions
Which interest rate should I use?
Use the yearly rate your lender quotes. Check whether it is a plain interest rate or an annual percentage rate (APR), which also includes fees. The APR gives a closer picture of the real cost.
Does this include fees?
No. It covers the loan amount and interest only. Add set-up fees, insurance or early repayment charges yourself to see the full cost.
Is this a loan quote?
No. It is an estimate for planning. Your lender’s figures may differ slightly, for example in how they count days or round payments.
