Loan Calculator
Loan & CreditCalculate your monthly loan payments, total interest paid, and full amortization schedule for any loan amount, interest rate, and term.
Loan Summary
Monthly payment
£306
for 36 months
Total payment
£11,034
Total interest
£1,034
Interest rate
6.5%
Rates in United Kingdom
Yearly breakdown
3 rows| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | £3,678 | £3,120 | £558 | £6,880 |
| Year 2 | £3,678 | £3,329 | £349 | £3,552 |
| Year 3 | £3,678 | £3,552 | £126 | £0 |
What is a Loan Calculator?
A loan calculator helps you quickly determine your monthly repayment amount, total interest paid, and the full cost of borrowing — before you sign any agreement. Whether you are taking out a personal loan, auto loan, or any other type of instalment credit in United Kingdom, this free tool gives you an instant, accurate breakdown using the standard EMI formula.
How to use this calculator
Enter the loan amount, annual interest rate, and loan term in months or years. The calculator instantly computes your fixed monthly payment using the standard amortisation formula. You can also view a full amortisation schedule showing exactly how much of each payment goes toward principal versus interest over the life of the loan.
Example
For example, a United Kingdom loan of £10,000 at 6.5% per annum over 36 months results in a monthly repayment that you can calculate instantly using the tool above. Interest rates at Barclays and Lloyds vary, so always compare before borrowing.
Frequently asked questions
What is the EMI formula used?
Monthly payment = P × r(1+r)ⁿ / ((1+r)ⁿ−1), where P is the principal, r is the monthly interest rate, and n is the number of monthly payments.
Can I use this for any type of loan?
Yes — this calculator works for personal loans, auto loans, student loans, and any other fixed-rate instalment loan.
What are typical loan calculator rates in United Kingdom?
UK interest rates are influenced by the Bank of England base rate. Personal loan rates typically range from 3%–30% APR depending on your credit score.
Which lenders offer this in United Kingdom?
Popular lenders in United Kingdom include Barclays, Lloyds, NatWest, HSBC, Santander. Always compare rates from multiple providers before committing.
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Further reading
How Rising Interest Rates Are Affecting Mortgages in 2026
Interest rates have shifted significantly across the US, UK, Canada, and Nigeria in 2026. Here's what that means for your mortgage payments — with real numbers.
Read article →Personal Loan vs Mortgage: When Should You Choose Which?
They're both loans — but choosing the wrong one can cost you significantly more. Here's a clear breakdown with numbers for the UK, US, Canada, and Nigeria.
Read article →