When you take out a personal loan, you’ll need to pay it back in monthly instalments over the agreed ‘term’ of the deal. This can be from one to seven years.
The amount you pay each month is a partial repayment of the money you’ve borrowed plus the interest charged on top. If you choose a longer term, the monthly payments will be lower than for a shorter term. But you’ll be making payments and paying interest for longer, so the total amount you repay could be higher.
To help you work out which arrangement might suit you best, our easy-to-use calculator lets you choose the amount you want to borrow, the length of the term and the interest rate.
You can adjust these to see how it affects your monthly payments, the amount you’ll pay in interest, and the total amount you’ll repay over the term.
You can also explore how your repayments will gradually reduce your debt over term.
Compare Loans From Leading Providers
Find loans you're most likely to be approved for, without affecting your credit score
