Personal Loan Calculator UK 2026

Use GlobalCalqulate’s free UK Personal Loan Calculator (2026) to estimate monthly repayments based on loan amount, APR, and term. Instantly calculate total interest, total repayment, and full cost of borrowing. Compare multiple loan scenarios to choose an affordable monthly payment, model early repayments, and plan debt consolidation or major purchases with confidence.

Last revised 13 September 2026

By Team GlobalCalqulate · About our editorial standards

Loan Details

Loan Amount

Representative APR (%)

Loan Term (Years)

Repayment Frequency

How this estimate was calculated

At 4.5% APR you would pay £1,240.10 less interest over the full term.
Advertised personal loan APRs are REPRESENTATIVE: a lender need only offer the advertised rate to 51% of accepted applicants, so the rate you are quoted after a credit check may be higher than the one used here.

Financial Disclaimer: This is an illustration, not a quotation or an offer of credit. The rate you are offered, any fees and any early-settlement charge depend on the lender and your circumstances. Check the APR and total amount repayable, and confirm overpayment rules, before you borrow. Full disclaimer.

Sources & methodology

Formula:: Amount financed
Reference:: Financial Conduct Authority Handbook

Calculation type: Exact calculation. Figures are taken from Financial Conduct Authority Handbook — see sources below.

Your entries stay on this device. This calculator runs entirely in your browser — the figures you type are not sent to us or to anyone else. The page itself uses cookies for analytics and advertising, described in the privacy policy.

Formula & methodology

Formula used

Amount financed

P = loan amount + arrangement fee + insurance cost

Fees added to the loan are borrowed too, so they attract interest for the whole term.

Monthly repayment

M = P × i × (1 + i)^n ÷ [(1 + i)^n − 1]

The level payment that clears the financed amount and its interest over the term.

Effect of overpaying

Each month: interest = balance × i, then balance −= (M + extra − interest)

An overpayment reduces the balance immediately, so every later month is charged interest on less money — which is why it shortens the term and cuts total interest.

Variable definitions

Symbol	Meaning	Unit
P	Amount financed. The loan plus any arrangement fee or insurance added to it.	£
i	Monthly interest rate. Annual interest rate divided by 12.	decimal
n	Term in months. The repayment period expressed in months.	months
Extra	Extra monthly payment. A voluntary amount paid on top of the contractual repayment each month.	£/month

Step-by-step calculation

1. Add fees to the amount borrowed
Arrangement fees and any insurance are financed alongside the loan unless you pay them separately.
2. Compute the contractual monthly payment
Apply the amortisation formula to the financed amount.
3. Total the cost over the full term
Multiply by the number of months and subtract the financed amount to isolate the interest.
4. Re-run the schedule with overpayments
Simulate month by month with the extra payment applied, and compare the interest and term against the contractual schedule.

Limitations

Assumes a fixed rate and that overpayments are allowed without penalty. Many agreements cap penalty-free overpayments or levy an early settlement charge.
Under the Consumer Credit Act a lender settling a regulated loan early may add up to 58 days' interest — this is not modelled.
The rate entered is an interest rate, not necessarily the APR, which also includes compulsory fees and is the right basis for comparing offers.
Advertised 'representative APR' need only go to 51% of accepted applicants; your offer depends on your credit profile and may be higher.
Payment protection or other add-on insurance is treated purely as a cost added to the balance, with no assessment of whether the cover is suitable.

This page is educational. It applies a standard formula to the figures you enter and shows the arithmetic behind the result. It is an estimate, not an offer, a quotation or financial advice: real costs depend on the provider's pricing, fees and underwriting, and on circumstances this calculator does not collect.

Sources & references

RegulationCONC App 1.2 — Total charge for credit rules (APR calculation) — Financial Conduct Authority Handbook
Defines how APR and the total charge for credit must be calculated for UK consumer credit — the basis of the periodic rate and total-repayable figures this calculator produces.

Help & FAQs

Frequently Asked Questions

Clear answers to common questions to help you use this calculator confidently.

Are fees and charges included?

Tap to view the answer

The calculator usually does not include arrangement fees, early repayment charges, or late fees. These costs may affect your total loan cost. Results are simplified estimates.

What happens if I change the loan amount?

Tap to view the answer

Increasing the loan amount generally increases monthly repayments and total interest. You can adjust this input to see updated estimates. Results will change accordingly.

How does changing the interest rate affect results?

Tap to view the answer

Higher interest rates typically increase repayments and total cost, while lower rates reduce them. You can modify the rate to explore scenarios. The calculator shows indicative outcomes.

What if I choose a longer loan term?

Tap to view the answer

A longer term usually lowers monthly repayments but increases total interest paid. You can adjust the term to see how results change. Outcomes may vary.

What if I make extra repayments?

Tap to view the answer

You can reduce the loan balance and recalculate to see indicative effects. Extra payments may shorten the loan term and reduce interest. Results are indicative.

Need more help? Contact support or email globalcalqulate@gmail.com

We typically reply within 24–48 hours.

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Formula & methodology

Formula used

Amount financed

P = loan amount + arrangement fee + insurance cost

Fees added to the loan are borrowed too, so they attract interest for the whole term.

Monthly repayment

M = P × i × (1 + i)^n ÷ [(1 + i)^n − 1]

The level payment that clears the financed amount and its interest over the term.

Effect of overpaying

Each month: interest = balance × i, then balance −= (M + extra − interest)

An overpayment reduces the balance immediately, so every later month is charged interest on less money — which is why it shortens the term and cuts total interest.

Variable definitions

Symbol	Meaning	Unit
P	Amount financed. The loan plus any arrangement fee or insurance added to it.	£
i	Monthly interest rate. Annual interest rate divided by 12.	decimal
n	Term in months. The repayment period expressed in months.	months
Extra	Extra monthly payment. A voluntary amount paid on top of the contractual repayment each month.	£/month

Step-by-step calculation

1. Add fees to the amount borrowed
Arrangement fees and any insurance are financed alongside the loan unless you pay them separately.
2. Compute the contractual monthly payment
Apply the amortisation formula to the financed amount.
3. Total the cost over the full term
Multiply by the number of months and subtract the financed amount to isolate the interest.
4. Re-run the schedule with overpayments
Simulate month by month with the extra payment applied, and compare the interest and term against the contractual schedule.

Limitations

Assumes a fixed rate and that overpayments are allowed without penalty. Many agreements cap penalty-free overpayments or levy an early settlement charge.
Under the Consumer Credit Act a lender settling a regulated loan early may add up to 58 days' interest — this is not modelled.
The rate entered is an interest rate, not necessarily the APR, which also includes compulsory fees and is the right basis for comparing offers.
Advertised 'representative APR' need only go to 51% of accepted applicants; your offer depends on your credit profile and may be higher.
Payment protection or other add-on insurance is treated purely as a cost added to the balance, with no assessment of whether the cover is suitable.

Calculator inputs

Loan Details

Loan Costs & Fees2 options

Overpayments1 option

Affordability Check2 options

Loan Purpose1 option

Compare Loan Offers1 option

Your results

Sources & methodology

Formula & methodology

Formula used

Amount financed

Monthly repayment

Effect of overpaying

Variable definitions

Step-by-step calculation

Limitations

Sources & references

Are fees and charges included?

What happens if I change the loan amount?

How does changing the interest rate affect results?

What if I choose a longer loan term?

What if I make extra repayments?

Related calculators

More United Kingdom calculators

Calculator inputs

Loan Details

Loan Costs & Fees2 options

Overpayments1 option

Affordability Check2 options

Loan Purpose1 option

Compare Loan Offers1 option

Your results

Sources & methodology

How to Use This Calculator

Example: £10,000 personal loan at 8.9% representative APR

Understanding Your Results

Key Tips

Understanding Personal Loans

What is APR?

Short vs long loan terms

Using loans for consolidation

Formula & methodology

Formula used

Amount financed

Monthly repayment

Effect of overpaying

Variable definitions

Step-by-step calculation

Limitations

Sources & references

How to Use This Calculator

Example: £10,000 personal loan at 8.9% representative APR

Understanding Your Results

Key Tips

Understanding Personal Loans

What is APR?

Short vs long loan terms

Using loans for consolidation