Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

The MoneySaving Forum: join to chat & swap tips with other MoneySavers. Learn how in the Forum Introduction Guide

Representative APR examples

Official personal loan APRs

Get Martin's Free Weekly Email!

For all the latest deals, guides and loopholes - join the 10m who get it. Don't miss out

Eesha | Edited by Martin

Updated August 2016

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.

Admiral

Loans between £2,000 and £2,499

If you borrow £2,000 over 3 years at a Representative APR of 11.5% and an annual interest rate of 11.5% (variable) fixed you would pay:

Monthly payment: £65.42
Total charge for credit: £355.12
Total amount you repay: £2,355.12

Loans between £2,500 and £2,999

If you borrow £2,500 over 3 years at a Representative APR of 10.5% and an annual interest rate of 10.5% (variable) you would pay:

Monthly payment: £80.70
Total charge for credit: £405.20
Total amount you repay: £2,905.20

Loans between £3,000 and £4,999

If you borrow £4,000 over 3 years at a Representative APR of 7.4% and an annual interest rate of 7.4% (variable) you would pay:

Monthly payment: £123.80
Total charge for credit: £456.80
Total amount you repay: £4,456.80

Cahoot

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 4.4% and an annual interest rate of 4.4% (variable) fixed you would pay:

Monthly payment: £178.21
Total charge for credit: £415.69
Total amount you repay: £6,415.69

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 3.4% and an annual interest rate of 3.4% (variable) you would pay:

Monthly payment: £468.13
Total charge for credit: £852.51
Total amount you repay: £16,852.51

Hitachi

Loans between £1,000 and £1,999

If you borrow £1,500 over 3 years at a Representative APR of 12.3% and an annual interest rate of 12.3% (variable) you would pay:

Monthly payment: £50.04
Total charge for credit: £301.32
Total amount you repay: £1,801.32

Loans between £2,000 and £2,499

If you borrow £2,200 over 3 years at a Representative APR of 12.3% and an annual interest rate of 12.3% (variable) you would pay:

Monthly payment: £73.39
Total charge for credit: £441.94
Total amount you repay: £2,641.94

Loans between £2,500 and £2,999

If you borrow £2,600 over 3 years at a Representative APR of 7.4% and an annual interest rate of 7.4% (variable) you would pay:

Monthly payment: £80.76
Total charge for credit: £307.25
Total amount you repay: £2,907.25

Loans between £3,000 and £4,999

If you borrow £4,000 over 3 years at a Representative APR of 6.9% and an annual interest rate of 6.9% (variable) you would pay:

Monthly payment: £123.33
Total charge for credit: £439.72
Total amount you repay: £4,439.72

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 4.2% and an annual interest rate of 4.2% (variable) you would pay:

Monthly payment: £177.68
Total charge for credit: £396.42
Total amount you repay: £6,396.42

Loans between £20,000 and £25,000

If you borrow £21,000 over 3 years at a Representative APR of 3.9% and an annual interest rate of 3.9% (variable) you would pay:

Monthly payment: £619.07
Total charge for credit: £1,286.52
Total amount you repay: £22,286.52

HSBC

Loans between £7,500 and £14,999

If you borrow £9,000 over 3 years at a Representative APR of 3.3% and an annual interest rate of 3.3% fixed you would pay:

Monthly payment: £262.92
Total charge for credit: £465.21
Total amount you repay: £9,465.21

Ikano Bank

Loans between £1,000 and £1,999

If you borrow £1,500 over 4 years at a Representative APR of 11.9% and an annual interest rate of 11.3% fixed you would pay:

Monthly payment: £39.43
Total charge for credit: £392.50
Total amount you repay: £1,892.50

Loans between £2,000 and £2,999

If you borrow £2,500 over 3 years at a Representative APR of 7.9% and an annual interest rate of 7.6% fixed you would pay:

Monthly payment: £78.23
Total charge for credit: £316.12
Total amount you repay: £2,816.12

Loans between £3,000 and £4,999

If you borrow £4,000 over 3 years at a Representative APR of 5.8% and an annual interest rate of 5.7% fixed you would pay:

Monthly payment: £121.33
Total charge for credit: £367.72
Total amount you repay: £4,367.72

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 4.1% and an annual interest rate of 4% fixed you would pay:

Monthly payment: £177.21
Total charge for credit: £379.56
Total amount you repay: £6,379.56

Loans between £7,500 and £14,999

If you borrow £9,000 over 3 years at a Representative APR of 3.2% and an annual interest rate of 3.2% fixed you would pay:

Monthly payment: £262.34
Total charge for credit: £444.24
Total amount you repay: £9,444.24

M&S Bank

Loans between £7,500 and £15,000

If you borrow £10,000 over 3 years at a Representative APR of 3.3% and an annual interest rate of 3.3% you would pay:

Monthly payment: £292.14
Total charge for credit: £516.90
Total amount you repay: £10,516.90

Sainsbury's

Loans between £1,000 and £1,999 (1-3 year term with a Nectar card)

If you borrow £1,500 over 3 years at a Representative APR of 12.4% and an annual interest rate of 12.4% fixed you would pay:

Monthly payment: £50.11
Total charge for credit: £303.91
Total amount you repay: £1,803.91

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

If you borrow £1,500 over 4 years at a Representative APR of 12.5% and an annual interest rate of 12.5% fixed you would pay:

Monthly payment: £39.81
Total charge for credit: £413.76
Total amount you repay: £1,913.76

Loans between £2,000 and £2,999 (1-3 year term with a Nectar card)

If you borrow £2,500 over 3 years at a Representative APR of 12.4% and an annual interest rate of 12.4% fixed you would pay:

Monthly payment: £83.51
Total charge for credit: £506.51
Total amount you repay: £3,006.51

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

If you borrow £2,500 over 4 years at a Representative APR of 12.5% and an annual interest rate of 12.5% fixed you would pay:

Monthly payment: £66.45
Total charge for credit: £689.60
Total amount you repay: £3,189.60

Loans between £3,000 and £4,999 (1-3 year term with a Nectar card)

If you borrow £4,000 over 3 years at a Representative APR of 7.4% and an annual interest rate of 7.4% fixed you would pay:

Monthly payment: £124.24
Total charge for credit: £472.68
Total amount you repay: £4,472.68

Loans between £3,000 and £4,999 (4-5 year term)

If you borrow £4,000 over 4 years at a Representative APR of 7.5% and an annual interest rate of 7.5% fixed you would pay:

Monthly payment: £96.72
Total charge for credit: £642.35
Total amount you repay: £4,642.35

Loans between £5,000 and £7,499 (2-3 year term with a Nectar card)

If you borrow £6,000 over 3 years at a Representative APR of 4.2% and an annual interest rate of 4.2% you would pay:

Monthly payment: £177.68
Total charge for credit: £396.42
Total amount you repay: £6,396.42

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

If you borrow £6,000 over 4 years at a Representative APR of 4.3% and an annual interest rate of 4.3% you would pay:

Monthly payment: £136.28
Total charge for credit: £541.50
Total amount you repay: £6,541.50

Loans between £7,500 and £19,999 (1-3 year term with a Nectar card)

If you borrow £10,000 over 3 years at a Representative APR of 3.2% fixed and an annual interest rate of 3.2% you would pay:

Monthly payment: £291.69
Total charge for credit: £501
Total amount you repay: £10,501

Loans between £7,500 and £19,999 (4-5 year term)

If you borrow £10,000 over 4 years at a Representative APR of 3.3% fixed and an annual interest rate of 3.3% you would pay:

Monthly payment: £222.67
Total charge for credit: £688.24
Total amount you repay: £10,688.24

Loans between £20,000 and £25,000 (2-3 year term with a Nectar card)

If you borrow £21,000 over 3 years at a Representative APR of 3.8% and an annual interest rate of 3.8% (variable) you would pay:

Monthly payment: £618.14
Total charge for credit: £1,252.93
Total amount you repay: £22,252.93

Loans between £20,000 and £25,000 (4-5 year term)

If you borrow £21,000 over 3 years at a Representative APR of 3.9% and an annual interest rate of 3.9% (variable) you would pay:

Monthly payment: £619.07
Total charge for credit: £1,286.52
Total amount you repay: £22,286.52

Loans between £25,000 and £35,000 (2-3 year term with a Nectar card)

If you borrow £26,000 over 3 years at a Representative APR of 6.7% fixed and an annual interest rate of 6.7% you would pay:

Monthly payment: £799.24
Total charge for credit: £2,772.75
Total amount you repay: £28,772.75

Loans between £25,000 and £35,000 (2-5 year term)

If you borrow £26,000 over 4 years at a Representative APR of 6.8% fixed and an annual interest rate of 6.8% you would pay:

Monthly payment: £620.19
Total charge for credit: £3,769.25
Total amount you repay: £29,769.25

Tesco

Loans between £5,000 and £7,499 (with a Clubcard)

If you borrow £6,000 over 4 years at a Representative APR of 4.3% and an annual interest rate of 4.3% you would pay:

Monthly payment: £136.28
Total charge for credit: £541.50
Total amount you repay: £6,541.50

Loans between £7,500 and £15,000 (with a Clubcard)

If you borrow £10,000 over 3 years at a Representative APR of 3.3% and an annual interest rate of 3.3% you would pay:

Monthly payment: £292.14
Total charge for credit: £516.90
Total amount you repay: £10,516.90

Loans between £15,000 and £25,000 (with a Clubcard)

If you borrow £16,000 over 3 years at a Representative APR of 3.4% fixed and an annual interest rate of 3.4% you would pay:

Monthly payment: £468.13
Total charge for credit: £852.51
Total amount you repay: £16,852.51

Loans between £15,000 and £25,000 (without a Clubcard)

If you borrow £18,000 over 4 years at a Representative APR of 3.6% fixed and an annual interest rate of 3.6% you would pay:

Monthly payment: £403.21
Total charge for credit: £1,354.03
Total amount you repay: £19,354.03

Loans between £25,000 and £35,000 (with a Clubcard)

If you borrow £26,000 over 3 years at a Representative APR of 6.7% fixed and an annual interest rate of 6.7% you would pay:

Monthly payment: £799.24
Total charge for credit: £2,772.75
Total amount you repay: £28,772.75

Loans between £25,000 and £35,000 (without a Clubcard)

If you borrow £29,000 over 4 years at a Representative APR of 6.9% fixed and an annual interest rate of 6.9% you would pay:

Monthly payment: £693.10
Total charge for credit: £4,268.63
Total amount you repay: £33,268.63

TSB

Loans between £15,000 and £19,999

If you borrow £16,000 over 3 years at a Representative APR of 3.5% fixed and an annual interest rate of 3.49% you would pay:

Monthly payment: £468.77
Total charge for credit: £875.72
Total amount you repay: £16,875.72

Loans between £20,000 and £25,000

If you borrow £22,000 over 3 years at a Representative APR of 3.9% fixed and an annual interest rate of 3.88% you would pay:

Monthly payment: £648.33
Total charge for credit: £1,339.88
Total amount you repay: £23,339.88

Zopa

Loans between £1,000 and £1,999

If you borrow £1,500 over 3 years at a Representative APR of 9.9% (a fee of £120 an annual interest rate of 4.4%) fixed you would pay:

Monthly payment: £48.06
Total charge for credit: £230.13
Total amount you repay: £1,730.13

Loans between £2,000 and £2,999

If you borrow £2,500 over 3 years at a Representative APR of 7.4% (a fee of £100 an annual interest rate of 4.7%) fixed you would pay:

Monthly payment: £77.42
Total charge for credit: £287.08
Total amount you repay: £2,787.08

Loans between £3,000 and £4,999

If you borrow £4,000 over 3 years at a Representative APR of 5.3% (a fee of £90 an annual interest rate of 3.8%) fixed you would pay:

Monthly payment: £120.27
Total charge for credit: £329.61
Total amount you repay: £4,329.61

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 4.1% (a fee of £90 an annual interest rate of 3.1%) fixed you would pay:

Monthly payment: £177.31
Total charge for credit: £383.27
Total amount you repay: £6,090.27

Loans between £7,500 and £15,000

If you borrow £10,000 over 3 years at a Representative APR of 3.3% (a fee of £40 an annual interest rate of 3.1%) fixed you would pay:

Monthly payment: £292.09
Total charge for credit: £475.30
Total amount you repay: £10,515.30

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 3.5% (a fee of £120 an annual interest rate of 3%) fixed you would pay:

Monthly payment: £468.72
Total charge for credit: £753.87
Total amount you repay: £16,873.87