Calculate Your Loan Details
Enter your details below. Hover over the icons for quick tips.
Results
Monthly Payment:
Total Interest:
Total Payment:
Repayment Schedule
| No. | Date | Payment Amount | Principal | Interest | Remaining Balance |
|---|
Monthly Payment Breakdown
Principal vs. Interest
Loan Calculator Features & Background
Our loan calculator performs several types of calculations:
- Classic Calculation: Determines monthly payment based on the loan amount and term.
- Term Calculation: Calculates loan duration based on a specified monthly payment.
- Maximum Loan Amount: Computes the maximum loan amount you can afford.
For detailed calculations including precise dates, variable rates, and early repayment options, please use our advanced calculator.
You will receive:
- Monthly payment amount
- Total interest over the term
- Detailed monthly repayment schedule
- Clear, visual charts
Understanding Interest Rates
The interest rate (expressed as an annual percentage rate or APR) determines the interest charged on the outstanding amount.
Key factors influencing the interest rate include:
- Central Bank Key Rate: Banks adjust their rates based on the central bank’s key rate.
- Loan Type: Riskier loans typically have higher rates.
- Borrower Profile: Your credit history and relationship with your bank can influence the rate.
Bank of England Rate Changes (2013–2025)
Annuity vs. Differentiated Payments
Annuity Payments: Fixed monthly payments where the principal and interest portions vary over time.
Differentiated Payments: Payments decrease over time as the principal is repaid at a constant rate.
Payment Comparison: Annuity vs. Differentiated
Conclusion
Our loan calculator provides an in‐depth look at your loan’s monthly payments, interest, and principal breakdown over time. Experiment with various scenarios to choose the best plan for your financial goals.