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Representative APR examples

Official personal loan APRs

There are regulations governing how APRs must be displayed. Below are loan providers' official examples of the cost of taking out a loan.

To see all the current cheapest personal loan rates, see our Personal Loans guide.

This page has loan providers' official examples of the total cost of taking out a loan.

To find out who offers the cheapest personal loans, see our Cheap Personal Loans guide.

What does representative rate mean?

Where credit cards or loans use a representative APR, this means 51% of successful applicants will be given the stated interest rate.

If a loan is advertised as being 7.5% representative APR, this means 51% of accepted applicants have to get 7.5% as their rate. The other 49% could get a different rate (which is usually higher).

Of course, some people will be rejected outright.

The AA

Loans between £3,000 and £4,999

If you borrow £3,000 over 3 years at a Representative APR of 7.9% fixed and an annual interest rate of 7.9% you would pay:

Monthly payment: £93.43
Total charge for credit: £365.64
Total amount you repay: £3,365.64

Loans between £7,500 and £14,999

If you borrow £7,500 over 3 years at a Representative APR of 4.1% fixed and an annual interest rate of 4.1% you would pay:

Monthly payment: £221.00
Total charge for credit: £483.00
Total amount you repay: £7,983.00

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 5.8% fixed and an annual interest rate of 5.8% you would pay:

Monthly payment: £484.23
Total charge for credit: £1,432.28
Total amount you repay: £17,432.28

Clydesdale Bank/Yorkshire Bank

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 5.4% and an annual interest rate of 5.4% you would pay:

Monthly payment: £180.00
Total charge for credit: £512.00
Total amount you repay: £6,512.00

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 5.7% fixed and an annual interest rate of 5.7% you would pay:

Monthly payment: £484.00
Total charge for credit: £1,444.00
Total amount you repay: £17,444.00

First Direct

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 4% and an annual interest rate of 4% (variable) you would pay:

Monthly payment: £361.00
Total charge for credit: £1340.00
Total amount you repay: £17,340.00

Hitachi

Loans between £2,500 and £2,999

If you borrow £2,600 over 3 years at a Representative APR of 8% and an annual interest rate of 8% (variable) you would pay:

Monthly payment: £82.00
Total charge for credit: £322.00
Total amount you repay: £2,922.00

Loans between £3,000 and £4,999

If you borrow £4,000 over 3 years at a Representative APR of 7.8% and an annual interest rate of 7.8% (variable) you would pay:

Monthly payment: £125.00
Total charge for credit: £482.00
Total amount you repay: £4,482.00

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 5.4% and an annual interest rate of 5.4% you would pay:

Monthly payment: £180.00
Total charge for credit: £512.00
Total amount you repay: £6,512.00

Loans between £7,500 and £10,000

If you borrow £10,000 over 3 years at a Representative APR of 4.1% and an annual interest rate of 4.1% you would pay:

Monthly payment: £295.00
Total charge for credit: £644.00
Total amount you repay: £10,644.00

HSBC

Loans between £7,000 and £14,999

If you borrow £10,000 over 3 years at a Representative APR of 3.9% and an annual interest rate of 3.9% (variable) you would pay:

Monthly payment: £294.00
Total charge for credit: £612.00
Total amount you repay: £10,612.00

Marks & Spencer

Loans between £1,000 and £1,999 (M&S cardholder)

If you borrow £1,500 over 3 years at a Representative APR of 18.5% and an annual interest rate of 18.5% fixed you would pay:

Monthly payment: £53.54
Total charge for credit: £427.44
Total amount you repay: £1,927.44

Loans between £1,000 and £1,999

If you borrow £1,500 over 3 years at a Representative APR of 18.6% and an annual interest rate of 18.6% fixed you would pay:

Monthly payment: £54.00
Total charge for credit: £468.00
Total amount you repay: £1,968.00

Loans between £5,000 and £7,499 (M&S cardholder)

If you borrow £5,000 over 3 years at a Representative APR of 5.5% and an annual interest rate of 5.5% fixed you would pay:

Monthly payment: £150.00
Total charge for credit: £435.00
Total amount you repay: £5,435.00

Loans between £5,000 and £7,499

If you borrow £5,000 over 3 years at a Representative APR of 5.6% and an annual interest rate of 5.6% fixed you would pay:

Monthly payment: £151.00
Total charge for credit: £443.00
Total amount you repay: £5,443.00

Post Office

Loans between £2,000 and £2,999

If you borrow £2,500 over 3 years at a Representative APR of 14.9% and an annual interest rate of 14.9% (fixed) you would pay:

Monthly payment: £85.41
Total charge for credit: £574.76
Total amount you repay: £3,074.76

Sainsbury's

Loans between £1,000 and £1,999 (1-3 year term)

If you borrow £1,500 over 3 years at a Representative APR of 18.4% and an annual interest rate of 18.4% fixed you would pay:

Monthly payment: £53.49
Total charge for credit: £425.64
Total amount you repay: £1,925.64

Loans between £1,000 and £1,999 (4-5 year term)

If you borrow £1,500 over 4 years at a Representative APR of 18.5% and an annual interest rate of 18.5% fixed you would pay:

Monthly payment: £44.00
Total charge for credit: £633.00
Total amount you repay: £2,133.00

Loans between £2,000 and £2,999 (1-3 year term)

If you borrow £2,500 over 3 years at a Representative APR of 18.4% and an annual interest rate of 18.4% fixed you would pay:

Monthly payment: £89.14
Total charge for credit: £709.04
Total amount you repay: £3,209.04

Loans between £2,000 and £2,999 (4-5 year term)

If you borrow £2,500 over 4 years at a Representative APR of 18.5% and an annual interest rate of 18.5% fixed you would pay:

Monthly payment: £74.00
Total charge for credit: £1,056.00
Total amount you repay: £3,556.00

Loans between £5,000 and £7,499 (1-3 year term)

If you borrow £6,000 over 3 years at a Representative APR of 5.3% and an annual interest rate of 5.3% you would pay:

Monthly payment: £180.00
Total charge for credit: £502.00
Total amount you repay: £6,502.00

Loans between £5,000 and £7,499 (4-5 year term)

If you borrow £6,000 over 4 years at a Representative APR of 5.4% and an annual interest rate of 5.4% you would pay:

Monthly payment: £139.00
Total charge for credit: £684.00
Total amount you repay: £6,684.00

Loans between £7,500 and £14,999 (1-3 year term)

If you borrow £10,000 over 3 years at a Representative APR of 4% fixed and an annual interest rate of 4% you would pay:

Monthly payment: £295.00
Total charge for credit: £628.00
Total amount you repay: £10,628.00

Loans between £7,500 and £14,999 (4-5 year term)

If you borrow £10,000 over 4 years at a Representative APR of 4.1% fixed and an annual interest rate of 4.1% you would pay:

Monthly payment: £226.00
Total charge for credit: £859.00
Total amount you repay: £10,859.00

Tesco

Loans between £7,500 and £14,999

If you borrow £7,500 over 3 years at a Representative APR of 4.1% and an annual interest rate of 4.1% (fixed) you would pay:

Monthly payment: £221.00
Total charge for credit: £483.00
Total amount you repay: £7,983.00