Loan repayment & cost of credit calculator
Enter an amount, APR and term to see the monthly repayment, the total you would repay, and the total interest.
How the cost of credit is worked out
The monthly repayment is the amount that clears the loan over the term at the given rate. We convert the APR to an effective monthly rate, then apply the standard amortisation formula. Total repayable is the monthly repayment times the number of months; total interest is the amount above the sum borrowed.
APR is the cost of credit, not a test of whether repayments are affordable. For that, try the affordability calculator.
This tool gives a rough estimate for guidance only. It is not a lending decision, credit or financial advice, or a regulated affordability assessment. Figures are illustrative.
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Credit Canary runs real affordability, decisioning and payments for UK lenders, from verified data, not estimates.
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