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representative APR examples

Representative APR examples

Official personal loan APRs

Chris Owen
Chris Owen | Edited by Martin Lewis
Updated 31 May 2022

There are regulations governing how APRs must be displayed. Below are loan providers' official examples of the cost of taking out a loan. For all the current cheapest personal loan rates, see our Personal Loans guide, or our Loans Eligibility Calculator helps you find which lenders are most likely to accept you.  

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In this 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.

Loan providers' representative APR examples

PROVIDER LOAN AMOUNT REPRESENTATIVE APR
AA (Members) £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 13.4% fixed and an annual interest rate of 13.4% you would pay:
 

Monthly payment: £67.04
Total charge for credit: £413.44
Total amount you repay: £2,413.44
£3,000 - £4,999 

If you borrow £4,000 over 3 years at a Representative APR of 8% fixed and an annual interest rate of 8% you would pay:

Monthly payment: £124.83
Total charge for credit: £493.88
Total amount you repay: £4,493.88
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 3.3% fixed and an annual interest rate of 3.3% you would pay:

Monthly payment: £175.15
Total charge for credit: £305.40
Total amount you repay: £6,305.40
£15,001 - £20,000

If you borrow £18,000 over 3 years at a Representative APR of 2.8% fixed and an annual interest rate of 2.8% you would pay:

Monthly payment: £521.59
Total charge for credit: £777.24
Total amount you repay: £18,777.24
£20,000 - £25,000

If you borrow £22,000 over 3 years at a Representative APR of 2.9% fixed and an annual interest rate of 2.9% you would pay:

Monthly payment: £638.45
Total charge for credit: £984.20
Total amount you repay: £22,984.20
AA (Non-members) £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 13.5% fixed and an annual interest rate of 13.5% you would pay:

Monthly payment: £67.12
Total charge for credit: £416.32
Total amount you repay: £2,416.32
£3,000 - £4,999 

If you borrow £4,000 over 3 years at a Representative APR of 8.1% fixed and an annual interest rate of 8.1% you would pay:

Monthly payment: £125
Total charge for credit: £500
Total amount you repay: £4,500
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 3.4% fixed and an annual interest rate of 3.4% you would pay:

Monthly payment: £175.40
Total charge for credit: £314.40
Total amount you repay: £6,314.40
£15,001 - £20,000

If you borrow £18,000 over 3 years at a Representative APR of 2.9% fixed and an annual interest rate of 2.9% you would pay:

Monthly payment: £522.36
Total charge for credit: £804.96
Total amount you repay: £18,804.96
£20,000 - £25,000

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

Monthly payment: £639.39
Total charge for credit: £1,018.04
Total amount you repay: £23,018.04
AIB £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 12.3% fixed and an annual interest rate of 11.75% you would pay:

 

Monthly payment: £66.36

Total charge for credit: £388.96

Total amount you repay: £2,388.96
Bank of Ireland £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 13.4% fixed and an annual interest rate of 13.4% you would pay:
 

Monthly payment: £67.04
Total charge for credit: £413.44
Total amount you repay: £2,413.44
£3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 8.1% fixed and an annual interest rate of 8.1% you would pay:
 

Monthly payment: £125.00

Total charge for credit: £500.00

Total amount you repay: £4,500.00
Cahoot £1,000 - £2,999

If you borrow £1,500 over 3 years at a Representative APR of 13.5% and an annual interest rate of 13.5% you would pay:

 

Monthly payment: £50.35

Total charge for credit: £312.60

Total amount you repay: £1,812.60
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 3.8% and an annual interest rate of 3.8% you would pay:
 

Monthly payment: £176.54
Total charge for credit: £355.44
Total amount you repay: £6,355.44
£7,500 - £20,000

If you borrow £10,000 over 3 years at a Representative APR of 2.8% and an annual interest rate of 2.8% you would pay:

 

Monthly payment: £289.78

Total charge for credit: £432.08

Total amount you repay: £10,432.08
First Direct 

 £25,000 - £30,000

If you borrow £27,000 over 3 years at a Representative APR of 3.3% fixed and an annual interest rate of 3.3% you would pay:
 

Monthly payment: £788.18
Total charge for credit: £1,374.63
Total amount you repay: £28,374.63
£30,001 - £50,000

If you borrow £35,000 over 3 years at a Representative APR of 6.7% fixed and an annual interest rate of 6.7% you would pay:
 

Monthly payment: £1,072.76
Total charge for credit: £3,619.26
Total amount you repay: £38,619.26
Halifax £25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 6.1% fixed and an annual interest rate of 6.1% you would pay:
 

Monthly payment: £911.79

Total charge for credit: £2,824.44
Total amount you repay: £32,824.44
£35,001 - £50,000

If you borrow £36,000 over 3 years at a Representative APR of 7% fixed and an annual interest rate of 7% you would pay:

Monthly payment: £1,108.04

Total charge for credit: £3,889.44
Total amount you repay: £39,889.44
JN Bank £2,500 -£2,999 If you borrow £2,500 over 3 years at a Representative APR of 9.9% fixed and an annual interest rate of 9.9% you would pay:

Monthly payment: £80.06
Total charge for credit: £382.16
Total amount you repay: £2,882.16
M&S Bank £7,500 - £15,000

If you borrow £10,000 over 4 years at a Representative APR of 2.8% fixed and an annual interest rate of 2.8% you would pay:
 

Monthly payment: £220.31
Total charge for credit: £574.88
Total amount you repay: £10,574.88
£15,001 - £20,000

If you borrow £16,000 over 3 years at a Representative APR of 3.1% fixed and an annual interest rate of 3.1% you would pay:

Monthly payment: £465.70
Total charge for credit: £765.20
Total amount you repay: £16,765.20
MBNA £5,000 - £7,499

If you borrow £5,000 over 3 years at a Representative APR of 3.7% fixed and an annual interest rate of 3.64% you would pay:

Monthly payment: £146.82
Total charge for credit: £285.52
Total amount you repay: £5,285.52
£7,500 - £25,000

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

Monthly payment: £291.06
Total charge for credit: £478.16
Total amount you repay: £10,478.16
Natwest/ RBS/ Ulster Bank £25,000 - £35,000

If you borrow £30,000 over 4 years at a Representative APR of 5.6% fixed and an annual interest rate of 5.6% you would pay:

 

Monthly payment: £697.15

Total charge for credit: £3,463.20

Total amount you repay: £33,463.20
£35,001 - £50,000

If you borrow £40,000 over 4 years at a Representative APR of 6.9% fixed and an annual interest rate of 6.9% you would pay:

 

Monthly payment: £952.11

Total charge for credit: £5,701.28

Total amount you repay: £45,701.28
Novuna Personal Finance £1,000 -£2,999

If you borrow £2,500 over 3 years at a Representative APR of 9.8% fixed and an annual interest rate of 9.8% you would pay:

Monthly payment: £79.95
Total charge for credit: £378.20
Total amount you repay: £2,878.20
£3,000 - £4,999

If you borrow £3,500 over 3 years at a Representative APR of 8.1% fixed and an annual interest rate of 8.1% you would pay:

Monthly payment: £109.38
Total charge for credit: £437.68
Total amount you repay: £3,937.68
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 3.6% fixed and an annual interest rate of 3.6% you would pay:
 

Monthly payment: £175.92
Total charge for credit: £333.12
Total amount you repay: £6,333.12
£20,000 - £25,000 

If you borrow £20,000 over 3 years at a Representative APR of 3.1% fixed and an annual interest rate of 3.1% you would pay:

Monthly payment: £582.16
Total charge for credit: £957.76
Total amount you repay: £20,957.76
£25,000 - £35,000

If you borrow £26,000 over 4 years at a Representative APR of 4.9% fixed and an annual interest rate of 4.9% you would pay:

Monthly payment: £596.27
Total charge for credit: £2,620.96
Total amount you repay: £28,620.96
Post Office £3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 8.1% fixed and an annual interest rate of 8.1% you would pay:

Monthly payment: £125.00
Total charge for credit: £500.09
Total amount you repay: £4,500.09
£15,001 - £25,000

If you borrow £22,000 over 3 years at a Representative APR of 2.9% fixed and an annual interest rate of 2.9% you would pay:

Monthly payment: £638.45
Total charge for credit: £984.24
Total amount you repay: £22,984.24
Sainsbury's Bank  £5,000 - £7,499

If you borrow £6,000 over 5 years at a Representative APR of 3.7% and an annual interest rate of 3.7% fixed you would pay:
 

Monthly payment: £109.52

Total charge for credit: £571.20

Total amount you repay: £6,571.20
£25,001 - £40,000

If you borrow £27,000 over 5 years at a Representative APR of 6.3% and an annual interest rate of 6.3% fixed you would pay:

Monthly payment: £523.56
Total charge for credit: £4,413.60
Total amount you repay: £31,413.60
 Santander £7,500 - £15,000 If you borrow £10,000 over 5 years at a Representative APR of 2.8% and an annual interest rate of 2.8% fixed you would pay:

Monthly payment: £178.64
Total charge for credit: £718.40
Total amount you repay: £10,718.40
 
 Tesco Bank £5,000 - £7,499

If you borrow £5,000 over 3 years at a Representative APR of 3.4% and an annual interest rate of 3.6387% fixed you would pay:
 

Monthly payment: £146.81
Total charge for credit: £235.16
Total amount you repay: £5,235.16
£7,500 - £25,000

If you borrow £23,000 over 3 years at a Representative APR of 2.8% and an annual interest rate of 2.76% fixed you would pay:
 

Monthly payment: £666.48
Total charge for credit: £993.28
Total amount you repay: £23,993.28
£25,001 - £35,000

If you borrow £26,000 over 3 years at a Representative APR of 6% and an annual interest rate of 5.84% fixed you would pay:
 

Monthly payment: £789.09
Total charge for credit: £2,407.24
Total amount you repay: £28,407.24
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