What's Left, step 4 of 7: When will my debts be paid off?
Loan repayment calculator
See your monthly payment and the total interest on a personal loan before you apply.
You'll pay
£196.91
a month for 5 years. In total you'll pay back £11,815, including £1,815 interest.
What the loan costs
| Item | Total |
|---|---|
| Amount borrowed | £10,000.00 |
| Interest | £1,814.64 |
| Total you'll pay back, including interest | £11,814.64 |
The APR (6.98%) is the yearly cost of borrowing, including interest and any compulsory fees, so you can compare loans on the same basis.
This is an estimate, not advice. Your lender's figures may differ slightly depending on fees and when interest is charged.
Year by year
| Year | Interest paid | Balance left |
|---|---|---|
| Year 1 | £623.33 | £8,260.40 |
| Year 2 | £501.90 | £6,399.37 |
| Year 3 | £372.00 | £4,408.45 |
| Year 4 | £233.04 | £2,278.56 |
| Year 5 | £84.37 | £0.00 |
You pay £196.91 every month. Early on, more of each payment is interest; by year 5 almost all of it pays off the loan.
If money's tight, free help is available
It's confidential, it costs nothing and getting advice won't affect your credit score. These services help people every day with bills, borrowing and debts of any size:
- MoneyHelper backed by the government, with a free debt advice locator
- Citizens Advice online, by phone or in person near you
- StepChange debt charity, online advice any time
- National Debtline free phone and webchat advice
How loan repayments are worked out
Each monthly payment covers that month's interest plus some of what you borrowed. Early payments are mostly interest; later ones mostly pay down the loan.
A longer term lowers the monthly payment but raises the total interest. Over 3 years the same loan costs less in total, even though each payment is higher.
Common questions
How much is a £10,000 loan over 5 years?
At 7.9% APR you pay £200.99 a month, £12,059.19 in total, of which £2,059.19 is interest.
What does APR mean?
The Annual Percentage Rate: the yearly cost of the loan including interest and any compulsory fees. Use it to compare loans.
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These results are an estimate, not financial advice. They use the 2026/27 rates in force on 24 October 2026 and the inputs shown, so your actual tax, pay or costs may differ. Before making a decision about your money, check the figures with HMRC or your provider, or speak to a regulated financial adviser. Free, impartial guidance is available from MoneyHelper.
This page explains the rules using the 2026/27 rates in force on 24 October 2026. It is general information, not financial advice. For decisions about your own money, speak to a regulated financial adviser, or get free, impartial guidance from MoneyHelper.