Loan repayment calculator
Estimate monthly cost, see how overpayments cut interest, and compare scenarios side-by-side.
Scheduled monthly
£207.10
Effective monthly
£207.10
Payoff time
60 mo
5.0 years
Total repaid
£12,426
Total interest
£2,426
Interest saved
£0
Months saved
0
Cost per £1 borrowed
£0.24
Balance over time
Compare scheduled repayment vs your plan with extra payments.
Year-by-year breakdown
How interest and principal change each year on your current plan.
| Year | Start balance | Payments | Interest | Principal | End balance | Total interest |
|---|---|---|---|---|---|---|
| 1 | £10,000 | £2,485 | £823 | £1,662 | £8,338 | £823 |
| 2 | £8,338 | £2,485 | £669 | £1,816 | £6,522 | £1,492 |
| 3 | £6,522 | £2,485 | £501 | £1,984 | £4,538 | £1,993 |
| 4 | £4,538 | £2,485 | £317 | £2,168 | £2,369 | £2,310 |
| 5 | £2,369 | £2,485 | £116 | £2,369 | £0 | £2,426 |
Tip: even a small extra monthly payment can knock months off your loan and save meaningful interest. Always check your loan agreement for early-repayment charges before overpaying.
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