How is a personal loan repayment calculated?

A personal loan is repaid in equal monthly instalments over a fixed term. Each instalment covers the interest for the month plus a slice of the capital, so the balance clears at the end. The monthly figure depends on the amount borrowed, the APR and the term.

Is this a loan offer or a real rate?

Neither - it is a calculator, not a lender. You enter the APR yourself and the result is illustrative. Actual loan offers depend on your credit profile and the lender's representative APR, which may differ from any rate you type in.

Does a longer loan term cost more?

Usually yes overall. A longer term lowers each monthly payment but you pay interest for longer, so the total interest is higher. A shorter term costs more per month but less in total.

Personal Loan Calculator 2026

Enter how much you want to borrow, the APR and the term to see your monthly repayment and the total interest over the life of the loan. You enter the rate yourself - this is a calculator, not a loan offer. See also: mortgage repayment calculator.

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Frequently asked questions

How is a personal loan repayment calculated?: A personal loan is repaid in equal monthly instalments over a fixed term. Each instalment covers the interest for the month plus a slice of the capital, so the balance clears at the end. The monthly figure depends on the amount borrowed, the APR and the term.
Is this a loan offer or a real rate?: Neither - it is a calculator, not a lender. You enter the APR yourself and the result is illustrative. Actual loan offers depend on your credit profile and the lender's representative APR, which may differ from any rate you type in.
Does a longer loan term cost more?: Usually yes overall. A longer term lowers each monthly payment but you pay interest for longer, so the total interest is higher. A shorter term costs more per month but less in total.

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Frequently asked questions

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