How to work out loan repayments
- Enter the amount. The price of what you're buying. Add a deposit if you're paying part up front.
- Enter the rate and length. The yearly interest rate and the number of years to pay it back.
- Compare. Try a shorter length or a bigger deposit to see how much interest you'd save.
Questions people ask
How are monthly loan repayments calculated?
With the standard repayment formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the monthly rate and n the number of months.
Does this work for a mortgage?
Yes, for a repayment mortgage. Put the house price as the amount, your deposit, the rate and the term (often 25 years).
Is the result exact?
It's a good estimate. Lenders may add fees, round differently, or use a rate that changes over time.
Is this financial advice?
No. It's a calculator to help you compare. Check the full terms with the lender.
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