Work out the monthly payment and total cost of a personal loan, and see how much overpaying would save in interest and time. Free PDF plan.
This calculator is a guide only and not financial advice. It assumes a fixed representative APR and equal monthly payments. The rate you are offered may differ, and some loans carry arrangement fees or early-repayment charges. Always check the loan agreement.
Before you take out a personal loan it pays to know exactly what it will cost — not just the monthly payment, but the total interest over the full term. This calculator works out both from three simple inputs: the amount you want to borrow, the APR and the length of the loan.
It also shows the power of overpaying. Add a monthly overpayment and you will see how much interest you save and how many months sooner the loan clears. The free PDF includes a year-by-year breakdown of how each payment splits between interest and capital, so you can see the balance fall over time.
For smaller sums, a 0% purchase credit card can sometimes be cheaper than a loan, and a better insurance or bills deal can free up cash for repayments. Always check the loan agreement for any fees or early-repayment charges before committing.