Payment, term and the cost of borrowing
A fixed-rate loan is repaid in equal monthly instalments. Stretching the term lowers each payment but raises the total interest you pay. The calculator shows both, so you can weigh affordability today against the overall cost.
Common questions
Any fixed-rate personal loan with equal monthly repayments — car finance, personal loans, debt consolidation. For mortgages, use the mortgage calculator.
The Annual Percentage Rate is the yearly cost of borrowing including interest. A longer term lowers the monthly payment but increases total interest.
No. Arrangement fees and insurance can raise the real cost, so your effective APR may be higher than the rate entered.