MoneySavingExpert ChairFounder, Martin Lewis · Editor-in-Chief, Marcus Herbert
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Personal Loan Calculator

Find out how much you could afford to borrow, how much interest you would pay and whether you’d save by switching loans – all with our unique calculator.


Loan Calculator

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See our Cheap Personal Loans guide, or head straight to our Loans Eligibility Calculator to find which loans are likely to accept you.

The calculator has three options…

How much would a loan cost me?

If you’re looking to get a new loan, only borrow if it's needed, planned and you've budgeted to pay it back. Even then, borrow as little as possible and repay as quickly as you can. If you NEED a loan, our calculator will tell you how much your monthly repayments would be, plus the total amount of interest you’d pay. See our cheap loans guide for a list of best-buys and full loan need-to-knows.

How much could I afford to borrow?

Always base your borrowing on what you can comfortably afford to repay (preferably after doing a budget), as borrowing too much can cause debts to spiral out of control. Enter this amount into our calculator and it’ll tell you how much you can afford to borrow. Remember, only borrow what you NEED and aim to repay as quickly as possible.

Can I save by switching loans?

If you already have a loan, it’s always worth checking to see if you can save by using a new, cheaper loan to pay it off, effectively switching loans. Plug the old and new loan details into our calculator and it will tell you if you’d be better off, after factoring in any charges to pay it off early (note the calculator assumes you will borrow the new amount over the same remaining number of months).

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