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Monthly payment estimator (UK)
This tool is intended to help you model simple 'what if' scenarios using your own figures. If you want to see how a loan payment fits into your overall budget, take a look at our Budget planner. You can also compare debt‑repayment strategies with our Snowball vs Avalanche tool or check your debt‑to‑income ratio to gauge affordability.
Estimate your monthly payment
Enter the details of your loan or credit agreement below to calculate an approximate monthly repayment. These figures are for illustration only and do not constitute advice.
Payment results
Monthly payment
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Total cost
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Total interest
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What these results mean
Your monthly payment depends on the loan amount, annual interest rate and the length of the repayment term. The total cost includes both the original amount borrowed and the interest paid over the term.
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Frequently asked questions
What does this estimator calculate?
It uses the loan amount, annual interest rate and repayment term to estimate a monthly repayment using a standard amortisation formula. The results also show the total cost and total interest over the term.
Which loan types is it suitable for?
This tool is designed for conventional amortising loans such as personal loans, car finance or other instalment credit. It’s not intended for interest‑only loans, mortgages with fees or products with irregular repayments.
Does it include fees or charges?
No. The calculator only factors in interest. It doesn’t include arrangement fees, early repayment charges or insurance premiums. See our guide to debt consolidation for more on fees and charges. Always check with your lender for a full quote.
How accurate are the results?
The figures are approximations based on the information you enter. Actual monthly payments can vary due to rounding, fees and lender policies. Use this tool as a guide rather than a definitive quote. For a fuller picture of your finances, consider using our Budget planner alongside this estimator.
What happens if the interest rate is 0%?
If you enter a 0% rate, the monthly payment is simply the loan amount divided by the number of months in the term. There would be no interest cost in this example. You may also want to explore 0% balance transfer offers to move existing debt to a promotional rate.
Related tools
Try these other Debt Settlers calculators:
- Budget planner – track your monthly income, expenses and savings.
- Snowball vs Avalanche – compare two ways to pay down multiple debts.
- Debt‑to‑income check – see how your monthly debt payments compare with your income.
Need more general information about formal debt solutions?
If you're struggling with debt, you may want to learn more about options like DMPs, IVAs or DROs. You can read impartial guidance at MoneyHelper or speak to a free debt charity such as StepChange, National Debtline or Money Advice Trust.
Some links on this site are affiliate links. If you click through and choose to act on the information provided, we will receive a commission at no extra cost to you. General information only; not financial advice.
This tool is general information only and does not constitute financial advice. Always speak to an FCA-regulated adviser or free debt charity before making decisions about debt solutions.