Loan calculator

MoneySuperMarket's loan calculator is designed to give you an idea how much a personal loan is going to cost.

Your monthly repayment will be

The total amount repayable will be , therefore the loan will cost you

You could afford to borrow up to

The total amount repayable will be , therefore the loan will cost you

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Calculate and compare loans: Find out how

Loan calculator

Whether you’re looking at home improvements, buying a new car or consolidating your debs, our loan calculator can give you an idea of how much a personal loan is going to cost.

It’s simple to use. Either decide how much you want to borrow or how much you can afford to repay each month, and we’ll do the calculations.

Find out how much your loan will cost

Secured loans: Your home may be repossessed if you do not keep up repayments on a mortgage, loan or any other debt secured on it.

We compare loans that can be paid back over terms of between one and 25 years. The APR interest rate you’ll be charged depends on your personal circumstances, and will usually be between 2.8% and 99.9%.

Representative example: 5.5% APR Representative based on a loan of £10,000 repayable over 60 months at an interest rate of 5.5% pa (fixed). Monthly repayment of £190.39. Total amount payable £11,423.40.

How do you calculate payments on a loan?

Your monthly loan repayments can be calculated by dividing the total loan and interest amount by the number of months the loan will take you to pay back.

Our loan calculator shows you how much a loan will cost you each month, and how much interest you will pay overall.

If you took a three-month payment freeze on your personal loan during coronavirus, bear in mind your subsequent repayments could be slightly higher to compensate.

What are the most common term lengths for loans?

Data collected by MoneySuperMarket between January and June 2020, accurate as of August 2020

How to use the MoneySuperMarket loan calculator

If you know how much you want to borrow:

  1. Select ‘Calculate monthly repayments’
  2. Enter amount, how long you want to pay it back, and at what interest rate
  3. Hit ‘Calculate’

To see how much you can borrow based on what you can currently afford in monthly loan repayments:

  1. Select ‘What can I afford?’
  2. Enter the monthly repayment you can afford to make, and the length of time you can afford to pay that amount, and at what interest rate
  3. Hit ‘Calculate’

By selecting different annual interest rates (APRs), you can see how they would affect your monthly loan repayments and total loan cost.

Remember, the calculator shows you an example of how much a loan would cost with that loan amount, term and interest rate – rather than the exact cost of an available deal.

How much do people borrow on average?

Data collected by MoneySuperMarket between January and June 2020, accurate as of August 2020

Comparing loans

Our loans search tool uses information about your income and requirements to find personal loan quotes for the amount, term and interest rate you’re likely to be able to afford.

If you’re a homeowner, it can also show you secured loan deals. These can be a good option if you want to borrow a large amount or are finding it difficult to get an unsecured loan.  

To find out more about how to apply for a loan read our step-by-step guide.

Remember: the loan rates you see will only include loans you’re likely to be offered and will be based on a “soft” or simple check that does not show on your credit report.

The loan amount, rate and duration you are offered by a provider may differ because they are based on a more detailed investigation of your credit history and financial situation.

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