Monthly repayment
For a standard repayment loan, each monthly payment covers interest and reduces the outstanding balance.
Monthly repayment—
Enter your details to calculate.
Monthly loan repayment calculator
Enter the amount borrowed, annual interest rate and repayment term to calculate an estimated monthly loan repayment, total amount repaid and total interest. Use the sensitivity check to see how a different rate changes the monthly payment.
Total interest
Longer terms can lower the monthly payment but often increase the total interest paid.
APR and rate
Use the annual borrowing rate shown for the loan. Fees may mean the advertised APR differs from the simple interest rate.
Loan repayment worked example
A £10,000 repayment loan over 5 years at 6.9% uses 60 monthly payments. The calculator applies the standard amortising-loan formula so each payment covers that month's interest and reduces the outstanding balance.
The entered rate is treated as constant. Lender fees and advertised APR calculations can make an actual quotation differ.
Loan assumptions & sensitivity
Loan repayment estimates treat the entered rate as a constant nominal annual interest rate converted to a monthly rate. Actual advertised APRs can include fees and other costs, so a lender quotation can differ.
The three scenarios shown with your result use the entered rate and rates one percentage point lower/higher. They are not forecasts — they show how sensitive the monthly payment is to the rate assumption.
Useful reference: FCA explanation of APR
How this loan estimate works
The calculator converts the entered annual interest rate to a monthly rate and uses the standard amortising-loan formula to estimate a fixed monthly repayment. It is best used for comparing repayment scenarios rather than reproducing a lender quote exactly, because arrangement fees, payment timing and an advertised APR can change the real cost.
Frequently asked questions
What happens if the interest rate is 0%?
The calculator divides the loan amount evenly across the repayment months.
Does a longer loan term reduce monthly payments?
Usually yes, but it can increase the total interest paid over the life of the loan.
Does this include loan fees?
Only if those fees are included in the amount or rate you enter.
Built for quick, transparent estimates. See how our calculators work and check page-specific assumptions before relying on a result.