Loan repayment calculator
Calculate loan repayments, total interest cost and view a full amortisation schedule. Supports extra payments and different payment frequencies.
- Free, no sign-up
- No data stored
- Reviewed 2026-01-15
Your details
Results
- Total interest
- £3,205.71
- Total repaid
- £18,205.71
- Cost of credit
- 21.4 %
- Effective rate
- 8.19 %
- Payments made
- 60
Effective rate note
- Capital15.0k £ · 82.4%
- Interest3,205.71 £ · 17.6%
Schedule
| Period | Payment | Interest | Capital | Balance |
|---|---|---|---|---|
| 1 | £303.43 | £98.75 | £204.68 | £14,795.32 |
| 2 | £303.43 | £97.40 | £206.03 | £14,589.30 |
| 3 | £303.43 | £96.05 | £207.38 | £14,381.91 |
| 4 | £303.43 | £94.68 | £208.75 | £14,173.17 |
| 5 | £303.43 | £93.31 | £210.12 | £13,963.04 |
| 6 | £303.43 | £91.92 | £211.51 | £13,751.54 |
| 7 | £303.43 | £90.53 | £212.90 | £13,538.64 |
| 8 | £303.43 | £89.13 | £214.30 | £13,324.34 |
| 9 | £303.43 | £87.72 | £215.71 | £13,108.63 |
| 10 | £303.43 | £86.30 | £217.13 | £12,891.50 |
| 11 | £303.43 | £84.87 | £218.56 | £12,672.94 |
| 12 | £303.43 | £83.43 | £220.00 | £12,452.94 |
| 13 | £303.43 | £81.98 | £221.45 | £12,231.50 |
| 14 | £303.43 | £80.52 | £222.90 | £12,008.59 |
| 15 | £303.43 | £79.06 | £224.37 | £11,784.22 |
| 16 | £303.43 | £77.58 | £225.85 | £11,558.37 |
| 17 | £303.43 | £76.09 | £227.34 | £11,331.04 |
| 18 | £303.43 | £74.60 | £228.83 | £11,102.20 |
| 19 | £303.43 | £73.09 | £230.34 | £10,871.86 |
| 20 | £303.43 | £71.57 | £231.86 | £10,640.01 |
| 21 | £303.43 | £70.05 | £233.38 | £10,406.63 |
| 22 | £303.43 | £68.51 | £234.92 | £10,171.71 |
| 23 | £303.43 | £66.96 | £236.46 | £9,935.24 |
| 24 | £303.43 | £65.41 | £238.02 | £9,697.22 |
| 25 | £303.43 | £63.84 | £239.59 | £9,457.63 |
| 26 | £303.43 | £62.26 | £241.17 | £9,216.47 |
| 27 | £303.43 | £60.68 | £242.75 | £8,973.71 |
| 28 | £303.43 | £59.08 | £244.35 | £8,729.36 |
| 29 | £303.43 | £57.47 | £245.96 | £8,483.40 |
| 30 | £303.43 | £55.85 | £247.58 | £8,235.82 |
| 31 | £303.43 | £54.22 | £249.21 | £7,986.61 |
| 32 | £303.43 | £52.58 | £250.85 | £7,735.76 |
| 33 | £303.43 | £50.93 | £252.50 | £7,483.26 |
| 34 | £303.43 | £49.26 | £254.16 | £7,229.10 |
| 35 | £303.43 | £47.59 | £255.84 | £6,973.26 |
| 36 | £303.43 | £45.91 | £257.52 | £6,715.74 |
| 37 | £303.43 | £44.21 | £259.22 | £6,456.52 |
| 38 | £303.43 | £42.51 | £260.92 | £6,195.60 |
| 39 | £303.43 | £40.79 | £262.64 | £5,932.96 |
| 40 | £303.43 | £39.06 | £264.37 | £5,668.59 |
| 41 | £303.43 | £37.32 | £266.11 | £5,402.48 |
| 42 | £303.43 | £35.57 | £267.86 | £5,134.62 |
| 43 | £303.43 | £33.80 | £269.63 | £4,864.99 |
| 44 | £303.43 | £32.03 | £271.40 | £4,593.59 |
| 45 | £303.43 | £30.24 | £273.19 | £4,320.40 |
| 46 | £303.43 | £28.44 | £274.99 | £4,045.42 |
| 47 | £303.43 | £26.63 | £276.80 | £3,768.62 |
| 48 | £303.43 | £24.81 | £278.62 | £3,490.00 |
| 49 | £303.43 | £22.98 | £280.45 | £3,209.55 |
| 50 | £303.43 | £21.13 | £282.30 | £2,927.25 |
| 51 | £303.43 | £19.27 | £284.16 | £2,643.09 |
| 52 | £303.43 | £17.40 | £286.03 | £2,357.07 |
| 53 | £303.43 | £15.52 | £287.91 | £2,069.15 |
| 54 | £303.43 | £13.62 | £289.81 | £1,779.35 |
| 55 | £303.43 | £11.71 | £291.71 | £1,487.63 |
| 56 | £303.43 | £9.79 | £293.63 | £1,194.00 |
| 57 | £303.43 | £7.86 | £295.57 | £898.43 |
| 58 | £303.43 | £5.91 | £297.51 | £600.92 |
| 59 | £303.43 | £3.96 | £299.47 | £301.44 |
| 60 | £303.43 | £1.98 | £301.44 | £0.00 |
Schedule note
About the Loan Calculator
Work out your monthly repayment for any fixed-rate loan by entering the principal, interest rate and term. The calculator generates a complete amortisation schedule showing how the balance reduces over time.
Add optional extra payments to see how overpaying shortens the term and reduces total interest. You can also include any arrangement or monthly fees in the calculation.
How to use the Loan Calculator
- Enter the loan amount (principal).
- Set the annual interest rate.
- Choose the term in months and payment frequency.
- Optionally add fees or extra payments.
- Review the schedule and total cost below.
Formula and method
PMT = P × r(1+r)n / [(1+r)n − 1]
Frequently asked questions
Does this work for car loans?
Yes. Any fixed-rate loan with equal periodic payments uses the same formula. Enter your car finance amount, rate and term.
What about variable-rate loans?
This calculator assumes a fixed rate for the full term. For variable rates, re-run the calculation when the rate changes.
Is the rate APR or flat?
Enter the annual percentage rate (APR). A flat rate would need converting to APR first for accurate results.
Sources
Figures are estimates for guidance only. Always confirm with the official source or a qualified professional before acting on them.