Jack Tools

Loan Repayment Calculator

Estimate your monthly loan repayments, total interest, and full repayment cost.

Enter loan details

£
%
yrs
mo

This calculator gives an estimate using a standard fixed monthly repayment formula. It does not include fees, penalties, or variable rate changes.

Estimated monthly repayment
£0.00
Total repaid: £0.00
Loan amount
£0.00
Total interest
£0.00
Total repaid
£0.00
Term length
0 years

Loan breakdown

Interest rate 0%
Years 0
Extra months 0
Total payments 0

How This Loan Repayment Calculator Works

This loan repayment calculator estimates your monthly loan payments based on the loan amount, interest rate, and repayment period you enter.

The calculation uses a standard amortisation formula that spreads repayments across the full loan term. Each monthly payment includes both interest and a portion of the original amount borrowed.

Over time, the interest portion of each repayment usually decreases while the amount going toward the loan balance increases.

This makes the calculator useful for comparing borrowing costs across different loan amounts, interest rates, and repayment terms before applying for finance.

Loan amount The total amount borrowed from the lender before interest is added.
Interest rate The annual percentage rate used to calculate the cost of borrowing.
Loan term The total time allowed to repay the loan, including years and any extra months.
Monthly payments Regular repayments that gradually reduce the outstanding loan balance over time.
Back to calculator ↑

Example Loan Repayment Scenarios

£10k loan
Rate6%
Term3 years
Monthly~ £304
Moderate repayment
£20k loan
Rate7%
Term5 years
Monthly~ £396
Higher total interest
£5k loan
Rate5%
Term2 years
Monthly~ £219
Shorter repayment period
£30k loan
Rate8%
Term6 years
Monthly~ £525
Larger long-term loan

Loan Calculator FAQs

A loan repayment is the regular payment made to a lender to pay back borrowed money plus interest over an agreed period.
Most fixed repayment loans use amortised payments, which means each monthly payment covers both interest and part of the loan principal until the balance is fully repaid.
Yes. Extending the loan term usually reduces monthly payments because the balance is spread over more payments, but it often increases the total interest paid.
No. This calculator provides an estimate only. Actual repayments may differ depending on lender fees, compounding method, repayment structure, and whether the rate changes during the term.
Higher interest rates and longer loan terms usually increase the total cost of borrowing, even if the monthly payment looks more manageable.
Yes. Changing the loan term is one of the best ways to compare how monthly repayments and total interest change between shorter and longer borrowing periods.

Related tools

Credit Card Interest Calculator Compare revolving debt costs with loan repayments. Salary After Tax Calculator Estimate take-home pay against loan affordability. Savings Calculator Compare borrowing costs with saving goals.