Personal loan calculator
Estimate your monthly personal-loan payment and total interest by amount, rate and term in the United Kingdom. With UK personal-loan rates averaging around 8.9%, it's the fast way to see what a loan really costs before you compare offers.
Monthly payment
£317.53
How this estimate is calculated
We apply the standard amortizing-loan formula at your rate over your term to produce the monthly payment, then sum the interest. The default reflects the UK average representative rate (Bank of England — effective interest rates); your actual rate depends on your credit, income and lender.
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Bank of England — effective interest rates (as of 2026-02-28)
- Written by
- Colson — Founder & consumer-finance researcher, ColsonSuperApps LLC
- Verified
- Every figure checked against its cited primary source
- Last updated
- June 14, 2026
- Standards
- Editorial policy
These results are educational estimates based on the figures you enter and standard financial math, not financial advice or an offer of credit. Your actual rate, payment and terms depend on your credit, lender and other factors. Verify any number with the lender before you act.
Frequently asked questions
What rate will I actually get on a personal loan?
It depends mostly on your credit, income and lender. Strong-credit borrowers may see single digits; others can see 20%+. The default is the UK average — change it to your quoted rate for an accurate payment.
Is a personal loan good for paying off debt?
A fixed-rate loan below your current card APR can consolidate balances and save interest. Run it through the consolidation calculator first, and only borrow to pay down debt — never to take on more.