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LOANS & MORTGAGES

Loan Payment Calculator

Calculate monthly payments, total repayment, and total interest. Find out exactly how much a loan will cost you before you borrow.

Loan Details

Enter your loan terms to calculate payments.

GBP
%

Payment Summary

Estimated Monthly Payment

GBP 300.57

A GBP 15,000.00 loan over 60 months at 7.5% interest has an estimated monthly payment of GBP 300.57, with total interest of approximately GBP 3,034.15.

Total Repayment

GBP 18,034.15

Total Interest

GBP 3,034.15

Shorter loan terms mean higher monthly payments but lower total interest. Longer terms lower your monthly burden but increase the total amount paid to the lender.

About This Loan Payment Calculator

Before taking on any debt, you need to know three numbers: the monthly payment, the total amount you'll repay, and the total interest you'll pay. Our loan payment calculator gives you all three instantly.

Whether you are comparing personal loan offers, planning a car purchase, or simply checking what a mortgage will cost, this tool handles it all. The Borrow Limit mode is especially useful - enter the monthly payment you can comfortably afford and find out the maximum loan you should take on at any given interest rate and term.

For a full payment-by-payment breakdown, use our Amortization Calculator, which shows exactly how your balance reduces over time and how much of each payment is interest versus principal.

How to Use This Calculator

  1. 1

    Choose your calculation mode

    Select By Years for a standard term, By Months for more precision, Borrow Limit to find the maximum you can afford to borrow, or 0% Interest for interest-free deals.

  2. 2

    Enter your loan amount

    Type the total amount you want to borrow. For the Borrow Limit tab, enter the maximum monthly payment you can afford instead.

  3. 3

    Set your interest rate and term

    Enter the annual interest rate from your lender and the length of the loan. Your results update instantly.

  4. 4

    Review your payment and total cost

    See your monthly payment, total amount repaid, and total interest paid. Use this to compare different loan offers side by side.

Frequently Asked Questions