Representative APR examples Official personal loans APRs

There are regulations governing how APRs must be displayed, and below we have included 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.

What does representative rate mean?

Where credit cards or loans use a representative APR, this means that 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%, and up to 49% could get a different rate (likely to be higher).

Of course, some people will be rejected outright.

Clydesdale Bank/Yorkshire Bank

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 7.1% and an annual interest rate of 7.1% you would pay:

Monthly payment: £185.06
Total charge for credit: £662.04
Total amount you repay: £6,662.04

Derbyshire

Loans between £7,500 and £14,999

If you borrow £10,000 over 3 years at a Representative APR of 5% fixed and an annual interest rate of 5% you would pay:

Monthly payment: £299.21
Total charge for credit: £771.56
Total amount you repay: £10,771.56

Loans over £15,000

If you borrow £16,000 over 3 years at a Representative APR of 7.3% fixed and an annual interest rate of 7.3% you would pay:

Monthly payment: £494.52
Total charge for credit: £1,802.72
Total amount you repay: £17,802.72

Nationwide

Loans between £7,500 and £14,999

Nationwide current account customers

If you borrow £10,000 over 3 years at a Representative APR of 5.9% and an annual interest rate of 5.9% (fixed) you would pay:

Monthly payment: £303.77
Total charge for credit: £935.59
Total amount you repay: £10,935.59

Non-current account customers

If you borrow £10,000 over 3 years at a Representative APR of 6.2% and an annual interest rate of 6.2% (fixed) you would pay:

Monthly payment: £305.13
Total charge for credit: £984.55
Total amount you repay: £10,984.55

Loans over £15,000

Nationwide current account customers

If you borrow £20,000 over 3 years at a Representative APR of 7.4% and an annual interest rate of 7.4% (fixed) you would pay:

Monthly payment: £619.01
Total charge for credit: £2,284.36
Total amount you repay: £22,284.36

Non-current account customers

If you borrow £20,000 over 5 years at a Representative APR of 7.3% and an annual interest rate of 7.3% (fixed) you would pay:

Monthly payment: £397.54
Total charge for credit: £3,852.40
Total amount you repay: £23,852.40

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

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: £54.68
Total charge for credit: £468.52
Total amount you repay: £1,968.52

Loans between £2,000 and £2,999

If you borrow £2,500 over 3 years at a Representative APR of 18.6% and an annual interest rate of 18.6% fixed you would pay:

Monthly payment: £91.98
Total charge for credit: £811.28
Total amount you repay: £3,311.28

Loans between £3,000 and £4,999

If you borrow £3,000 over 3 years at a Representative APR of 12.6% fixed and an annual interest rate of 12.6% you would pay:

Monthly payment: £99.59
Total charge for credit: £585.24
Total amount you repay: £3,585.24

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 6.9% and an annual interest rate of 6.9% you would pay:

Monthly payment: £186.48
Total charge for credit: 713.28
Total amount you repay: £6,713.28

If you borrow £6,000 over 4 years at a Representative APR of 7% and an annual interest rate of 7% you would pay:

Monthly payment: £144.70
Total charge for credit: £945.60
Total amount you repay: £6,945.60

Loans between £7,500 and £14,999

If you borrow £10,000 over 3 years at a Representative APR of 5% fixed and an annual interest rate of 5% you would pay:

Monthly payment: £299.21
Total charge for credit: £771.56
Total amount you repay: £10,771.56

If you borrow £10,000 over 5 years at a Representative APR of 5.1% fixed and an annual interest rate of 5.1% you would pay:

Monthly payment: £188.64
Total charge for credit: £1,318.40
Total amount you repay: £11,318.40

Loans over £15,000

If you borrow £20,000 over 3 years at a Representative APR of 7.1% and an annual interest rate of 7.1% (fixed) you would pay:

Monthly payment: £616.78
Total charge for credit: £2,204.08
Total amount you repay: £22,204.08

If you borrow £20,000 over 5 years at a Representative APR of 7.2% and an annual interest rate of 7.2% (fixed) you would pay:

Monthly payment: £396.12
Total charge for credit: £3,767.20
Total amount you repay: £23,767.20

Santander

Loans between £1,000 and £1,999

If you borrow £1,500 over 3 years at a Representative APR of 18.9% and an annual interest rate of 18.9% fixed you would pay:

Monthly payment: £53.81
Total charge for credit: £437.16
Total amount you repay: £1,937.16

Loans between £5,000 and £7,499

If you borrow £7,000 over 3 years at a Representative APR of 6.9% and an annual interest rate of 6.9% you would pay:

Monthly payment: £215.15
Total charge for credit: £745.40
Total amount you repay: £7,745.40

Tesco

Loans between £3,000 and £4,999

If you borrow £3,000 over 3 years at a Representative APR of 12.8% fixed and an annual interest rate of 12.8% you would pay:

Monthly payment: £99.79
Total charge for credit: £592.44
Total amount you repay: £3,592.44

Loans between £5,000 and £7,499

If you borrow £6,000 over 3 years at a Representative APR of 7% and an annual interest rate of 7% (fixed) you would pay:

Monthly payment: £184.87
Total charge for credit: £655.32
Total amount you repay: £6,655.32

Loans between £7,500 and £14,999

If you borrow £10,000 over 3 years at a Representative APR of 5.1% and an annual interest rate of 5.1% (fixed) you would pay:

Monthly payment: £299.63
Total charge for credit: £786.68
Total amount you repay: £10,786.68

Loans over £15,000

If you borrow £17,000 over 3 years at a Representative APR of 7.2% fixed and an annual interest rate of 7.2% you would pay:

Monthly payment: £524.69
Total charge for credit: £1,888.84
Total amount you repay: £18,888.84