# Loan calculator UK: monthly repayments and cost | ComputeNow

URL: https://computenow.co.uk/loan-repayment-calculator/

> Work out the monthly payment and total cost of a personal loan from the amount, APR and term, with any arrangement fee.

This calculator shows a worked example below. To use your own figures, add them to the URL as query parameters (listed in https://computenow.co.uk/llms.txt), for example https://computenow.co.uk/loan-repayment-calculator/?<parameter>=<value>.

[What's Left, step 4 of 7: When will my debts be paid off?](https://computenow.co.uk/money-plan/#steps)

# Loan repayment calculator

See your monthly payment and the total interest on a personal loan before you apply.
Uses the APR you are quotedRates checked 18 October 2026
By the ComputeNow team, checked against GOV.UK and HMRC[Sources (2)](#sources)[How we calculate](https://computenow.co.uk/methodology/)

You'll pay
£196.91
a month for 5 years. In total you'll pay back £11,815, including £1,815 interest.

What you repay

- Amount borrowed £10,000.00 (85%)
- Interest £1,814.64 (15%)

## 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.

### Next steps

- [Savings goal calculator](https://computenow.co.uk/savings-goal-calculator/?goal=10000&years=5)Or see what saving up for it instead would take.

Added. [See what's left each month](https://computenow.co.uk/money-plan/)
[What's Left](https://computenow.co.uk/money-plan/) adds up your monthly figures from each calculator and shows what is left each month.
[You'll pay £196.91 Breakdown](#result)

## 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](https://www.moneyhelper.org.uk/en/money-troubles) backed by the government, with a free debt advice locator
- [Citizens Advice](https://www.citizensadvice.org.uk/debt-and-money/) online, by phone or in person near you
- [StepChange](https://www.stepchange.org/) debt charity, online advice any time
- [National Debtline](https://nationaldebtline.org/) 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.

## Related calculators

[Credit card payoff calculator How long to clear your balance](https://computenow.co.uk/credit-card-payoff-calculator/)[Savings calculator How your savings grow with interest](https://computenow.co.uk/savings-calculator/)[Loans & savings calculators See all loan and savings tools](https://computenow.co.uk/loans-and-savings/)

## Guides and help

### Our guides

[UK interest rates and inflation today Average mortgage, savings, loan and card rates](https://computenow.co.uk/guides/uk-interest-rates-and-inflation/)

### Official services and free advice

[Check a firm is authorised FCA register: lenders, brokers and advisers](https://register.fca.org.uk/)[Financial Ombudsman Service Free help with complaints about a lender](https://www.financial-ombudsman.org.uk/)[Options for paying off your debts GOV.UK: plans, breathing space and more](https://www.gov.uk/options-for-paying-off-your-debts)

## Sources

Each source was last checked on 18 October 2026.

- [Bank of England: quoted household interest rates (September 2026)](https://www.bankofengland.co.uk/boeapps/database/FromShowColumns.asp?SearchText=IUMBV34&Travel=NIxAZx)
- [FCA: Understanding APR](https://www.fca.org.uk/consumers/credit-cards)
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.