zacdaddytools
Estimate your monthly payment and see the true cost of borrowing.
Adjust any value to update the repayment instantly.
See how paying a little extra could shorten the loan and reduce interest.
A clear picture of the cost of your loan.
Monthly repayment
£1,169.18
Total interest
£150,754.02
Total repaid
£350,754.02
Loan duration
25 years
Estimated payoff
Available after page loads
First payment breakdown
Estimate only. Your lender may calculate interest or fees differently.
Enter the amount borrowed, annual interest rate and term in whole years. The calculator estimates the standard monthly repayment for a repayment loan, total interest, total amount repaid and an approximate payoff month.
The first-payment breakdown shows how much goes to interest and how much reduces the balance. As the balance falls, the interest portion normally becomes smaller and more of each fixed payment repays principal.
For a positive fixed rate, the tool uses the standard amortising-loan formula with a monthly rate and equal scheduled payments. At 0% interest, the principal is simply divided across the number of months.
A £10,000 loan at 5% over 3 years gives a monthly repayment of about £299.71.
Across 36 payments, total interest is approximately £789.52 before fees or rate changes.
Add an optional extra monthly amount to model a faster payoff. The result estimates months saved and interest avoided. Before overpaying a real loan, check whether the agreement allows it and whether early-repayment charges or payment limits apply.
This is an illustrative calculation, not a credit offer or affordability assessment. Actual lenders may calculate daily interest, add fees, round payments differently or change a variable rate.
For impartial information about borrowing and repayments, visit MoneyHelper credit guidance.
FAQs
It uses the annual interest rate entered and does not model arrangement fees or every cost that may be included in a lender’s APR.
It increases each planned payment, which can reduce the balance sooner and lower the total interest charged in this fixed-rate model.
Yes. With a zero rate, the loan amount is spread evenly across the selected number of months.
No. It is an estimate based on today, the entered terms and uninterrupted monthly payments. Lender schedules and rounding may differ.