Loan Calculator

Calculate your loan repayments and total interest

Last updated: August 2026

Loan Details

£
%
years
Repayment Amount
£391.32
per month
Total Interest
£3,479.38
Over 5 years

Loan Breakdown

Principal
£20,000.00
Interest
£3,479.38

Repayment Details

Number of Payments60
Total Amount Repaid£23,479.38
Interest Rate Per Payment0.5417%
Cost of Borrowing£3,479.38

Understanding Loan Repayments

Each repayment covers both principal and interest. Early payments are mostly interest, while later payments are mostly principal. Making overpayments can significantly reduce total interest paid over the life of the loan. Always check your lender's terms for early repayment charges.

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Reviewed by

, LLM (UK), CFP®, CIM®, PFP®. Financial planner with 18 years in banking and wealth management, holding a UK master of laws and the Canadian CFP®, CIM® and PFP® designations. Writes and reviews every calculator and article on FinanceToolz.

Last updated: August 2026. How figures are sourced, reviewed and corrected is set out in our editorial policy. This is general information, not regulated financial advice.

Sources

Every rate and threshold used by this calculator is taken from the official pages below. If a figure here disagrees with one of these, the official page is right, please tell us.