Loan Calculator
Calculate monthly payments and total interest for any type of loan. Find out how much you can borrow, or discover the implied rate on an existing loan.
Loan Details
Enter your loan information.
Your Loan Breakdown
Monthly Payment
GBP 188.71
A GBP 10,000.00 loan over 5 years at 5% costs GBP 188.71 per month.
Summary
Amortisation Schedule (First 12 Months)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | GBP 188.71 | GBP 147.05 | GBP 41.67 | GBP 9,852.95 |
| 2 | GBP 188.71 | GBP 147.66 | GBP 41.05 | GBP 9,705.30 |
| 3 | GBP 188.71 | GBP 148.27 | GBP 40.44 | GBP 9,557.02 |
| 4 | GBP 188.71 | GBP 148.89 | GBP 39.82 | GBP 9,408.13 |
| 5 | GBP 188.71 | GBP 149.51 | GBP 39.20 | GBP 9,258.62 |
| 6 | GBP 188.71 | GBP 150.13 | GBP 38.58 | GBP 9,108.48 |
| 7 | GBP 188.71 | GBP 150.76 | GBP 37.95 | GBP 8,957.72 |
| 8 | GBP 188.71 | GBP 151.39 | GBP 37.32 | GBP 8,806.34 |
| 9 | GBP 188.71 | GBP 152.02 | GBP 36.69 | GBP 8,654.32 |
| 10 | GBP 188.71 | GBP 152.65 | GBP 36.06 | GBP 8,501.66 |
| 11 | GBP 188.71 | GBP 153.29 | GBP 35.42 | GBP 8,348.37 |
| 12 | GBP 188.71 | GBP 153.93 | GBP 34.78 | GBP 8,194.45 |
About This Loan Calculator
Our loan calculator works for any fixed-rate instalment loan - personal loans, car finance, home improvement loans, or business borrowing. Enter your loan amount, interest rate, and term, and it instantly calculates your monthly payment, total repayment, and the total interest cost.
The three calculation modes cover every angle: find your monthly payment, discover how much you can borrow on a given budget, or reverse-engineer the interest rate from a known loan and payment amount. The amortisation schedule for the first 12 months shows exactly how your payments are structured from day one.
How to Use This Calculator
- 1
Choose your calculation mode
Monthly Payment calculates your fixed monthly instalment given a loan amount, rate, and term. Max Loan works backwards from your monthly budget to find the maximum you can borrow. Find Rate reveals the implied interest rate when you know the loan amount, term, and payment amount.
- 2
Enter your loan details
Provide the loan amount (or budget), annual interest rate, and the loan term in years. All three inputs are needed for the standard monthly payment calculation.
- 3
Read the loan breakdown
The results show your monthly payment, total amount paid over the life of the loan, and the total interest charge. The first 12 months of the amortisation schedule show how each payment is split between principal and interest.
- 4
Compare loan options
Change the interest rate or term to see how they affect your monthly payment and total cost. A lower rate or shorter term both reduce total interest - but a shorter term increases the monthly payment. Find the balance that works for your budget.