Loan Repayment Calculator
Enter your loan amount, interest rate and term to see exactly what your monthly repayments will be and how much the loan will cost you in total.
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Results are estimates only. Actual APR depends on credit score and lender criteria. Representative APR may differ from your personal rate.
Loan repayment examples — 6.9% APR
Click any row to load the loan amount into the calculator above.
| Loan amount | Monthly (1 yr) | Monthly (3 yr) | Monthly (5 yr) | Total interest (3 yr) |
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How personal loan interest works
Personal loans use a fixed monthly payment over the agreed term. Each payment covers interest accrued on the remaining balance, with the remainder reducing what you owe. Early in the loan, a larger share goes to interest; this shifts towards capital as the balance falls.
Lenders advertise a representative APR — the rate offered to at least 51% of successful applicants. Your personal rate may be higher or lower depending on your credit history and the lender's criteria.
Shorter terms mean higher monthly payments but less total interest. Longer terms reduce the monthly burden but significantly increase the overall cost.
Frequently asked questions
Yes — most personal loans allow early repayment, but lenders may charge an early repayment fee (typically up to 58 days' interest). Check your loan agreement or ask your lender before making a lump sum payment.
For good credit borrowers, personal loan rates typically range from around 5% to 10% APR for mainstream lenders. Those with thinner credit files or adverse history may see rates of 20–50%+. Always use an eligibility checker before applying to avoid hard searches.
Unsecured personal loans don't put any asset at risk, but secured loans (using your home as collateral) typically offer lower rates and higher borrowing limits. Secured loans carry more risk — failure to repay could mean losing your home.