Compare the real cost of a personal loan
A representative APR is not necessarily the rate offered to you. Enter a confirmed nominal borrowing rate and any setup charge to compare payments and the cash actually available.
Enter your loan and arrangement costs
How will the fee be collected?
Assumes a fixed nominal borrowing rate divided by 12 and an upfront fee handled only as deducted or financed. The calculated annualized cost is NOT a regulated UK APR. No insurance, missed instalments, loan restructuring, variable rate or early settlement charges are automatically included.
Borrowing cost breakdown
Borrowing cost breakdown
First twelve and final loan payments
| Month | Interest | Capital repaid | Balance outstanding |
|---|---|---|---|
| 1 | £100.00 | £204.35 | £11,795.65 |
| 2 | £98.30 | £206.05 | £11,589.60 |
| 3 | £96.58 | £207.77 | £11,381.82 |
| 4 | £94.85 | £209.50 | £11,172.32 |
| 5 | £93.10 | £211.25 | £10,961.07 |
| 6 | £91.34 | £213.01 | £10,748.06 |
| 7 | £89.57 | £214.78 | £10,533.28 |
| 8 | £87.78 | £216.57 | £10,316.71 |
| 9 | £85.97 | £218.38 | £10,098.33 |
| 10 | £84.15 | £220.20 | £9,878.13 |
| 11 | £82.32 | £222.03 | £9,656.10 |
| 12 | £80.47 | £223.88 | £9,432.21 |
| 48 | £2.52 | £301.84 | £0.00 |
Compare the real cost of a personal loan
- 01
Use a lender quotation to identify nominal annual borrowing interest rate. Do not assume the representative APR is the same figure, because the comparison APR may reflect lender fees and other conventions.
- 02
Enter your stated loan principal and any arrangement fee, then select fee deducted at release or financed on top. This changes either the cash available immediately or the financed principal.
- 03
Check monthly instalment versus overall interest plus upfront fee. Extending the term usually makes payments smaller but increases total interest.
- 04
If you might repay early, compare the agreement's early settlement statement. MoneyHelper recommends checking affordability and using eligibility soft searches before full applications.
Representative APR and nominal rate are not identical
Assumes a fixed nominal borrowing rate divided by 12 and an upfront fee handled only as deducted or financed. The calculated annualized cost is NOT a regulated UK APR. No insurance, missed instalments, loan restructuring, variable rate or early settlement charges are automatically included.
Rates, loan approval and early settlement rights depend on your provider and agreement; no real-time offers are shown.
Personal loan questions
Will I get the advertised representative APR?
Not necessarily. UK representative APR is a marketing requirement; lenders assess the applicant and only a qualifying proportion of accepted applicants must receive that rate or better.
Does the model calculate an early repayment rebate?
No. It assumes every agreed instalment is paid on its due date through maturity. Early settlement and statutory rebates require lender-specific information.
Can rates change mid-loan?
Some loans have variable rates. This model is suitable only for a chosen fixed-rate illustration.
MoneyHelper — Personal loans and representative APR
Your representative APR and actual offer may be different.