How the Loan Repayment Calculator Works

This calculator uses a standard amortisation formula, which is the method most lenders use to calculate loan repayments. Each repayment covers:

• A portion of the loan principal
• A portion of the interest

At the start of the loan, a larger share of each payment goes toward interest. Over time, larger payments reduce the principal balance.

The calculator automatically adjusts results based on:

• Loan amount
• Annual Percentage Rate (APR)
• Loan term (years or months)
• Repayment frequency (monthly, weekly, or fortnightly)
• Optional one-time fees added to the loan balance

What You Can Calculate

With this loan calculator, you can instantly find:

• Your repayment amount per month, week, or fortnight
• Total interest paid over the full loan term
• Total amount repaid, including interest and fees
• A full amortisation schedule showing each repayment breakdown

This makes it easy to compare different loan offers or see how changing the interest rate or term affects your repayments.

Example Loan Calculation

For example, if you borrow £11,000 over 5 years at 6% APR with monthly repayments:

• Monthly payment: approximately £212.66
• Total interest paid: approximately £1,759.65
• Total amount repaid: approximately £12,759.65

Exact figures may vary slightly depending on rounding and lender-specific calculations.

Why Use a Loan Repayment Calculator?

Using a loan repayment calculator helps you:

• Budget more accurately
• Avoid borrowing more than you can afford
• Compare loan offers from different lenders
• Understand the true cost of interest over time
• Decide whether a shorter loan term could save money

It is especially useful before applying for credit, as it gives you a realistic expectation of ongoing repayments.

What Is an Amortised Loan?

An amortised loan is repaid through regular, fixed payments over a set period of time. Each payment includes both interest and principal, ensuring the loan balance is paid in full by the end of the term.

The most common loan types are amortised, including:

• Personal loans
• Car loans
• Mortgages
• Business loans

This calculator assumes an amortised loan structure unless stated otherwise.

Loan Repayment Calculator FAQs

How accurate is this loan calculator?

This calculator provides estimates based on standard amortisation formulas. Actual repayments may vary slightly due to lender fees, compounding methods, and rounding.

Does this calculator include fees?

Yes. You can choose to include one-time fees and add them to the loan balance to see how they affect repayments and total cost.

Can I calculate weekly or fortnightly repayments?

Yes. The calculator supports monthly, weekly, and fortnightly repayment frequencies.

Does this work for zero-interest loans?

Yes. If the interest rate is set to 0%, the calculator will divide the loan evenly across the selected repayment period.

Is this calculator free to use?

Yes. This loan repayment calculator is completely free and can be used as often as you like.

Important Disclaimer for Loan Calculator

This loan repayment calculator is provided for informational purposes only. It does not constitute financial advice. Always check final loan terms with your lender before making borrowing decisions.