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representative APR examples

Representative APR examples

Official personal loan APRs

Chris Collier
Chris Collier
Updated 16 March 2023

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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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 (member) £3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 9.9% fixed and an annual interest rate of 9.9% you would pay:

 

Monthly payment: £127.92

Total charge for credit: £605.04

Total amount you repay: £4,605.04
£7,500 - £15,000

If you borrow £12,000 over 3 years at a Representative APR of 4.9% fixed and an annual interest rate of 4.9% you would pay:

 

Monthly payment: £358

Total charge for credit: £907.08

Total amount you repay: £12,907.08
£15,001 - £25,000

If you borrow £20,000 over 3 years at a Representative APR of 4.9% fixed and an annual interest rate of 4.9% you would pay:


Monthly payment: £597.56
Total charge for credit: £1,512.28
Total amount you repay: £21,512.28
£25,001 - £40,000

If you borrow £27,000 over 4 years at a Representative APR of 7.8% fixed and an annual interest rate of 7.8% you would pay:

 

Monthly payment: £653.26

Total charge for credit: £4,356.61

Total amount you repay: £31,356.61
AA (non-member) £3,000- £4,999

If you borrow £4,000 over 3 years at a Representative APR of 9.9% fixed and an annual interest rate of 9.9% you would pay:

 

Monthly payment: £128.09

Total charge for credit: £611.22

Total amount you repay: £4,611.22
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 6.3% fixed and an annual interest rate of 6.3% you would pay:

 

Monthly payment: £182.87

Total charge for credit: £583.32

Total amount you repay: £6,583.32
£7,500 - £15,000

If you borrow £12,000 over 3 years at a Representative APR of 5% fixed and an annual interest rate of 5% you would pay:

 

Monthly payment: £359.05

Total charge for credit: £925.80

Total amount you repay: £12,925.80
£15,001 - £25,000

If you borrow £20,000 over 3 years at a Representative APR of 5% fixed and an annual interest rate of 5% you would pay:


Monthly payment: £598.42
Total charge for credit: £1,543.17
Total amount you repay: £21,543.17
£25,001 - £40,000

If you borrow £27,000 over 4 years at a Representative APR of 7.9% fixed and an annual interest rate of 7.9% you would pay:

 

Monthly payment: £654.44

Total charge for credit: £4,413.09

Total amount you repay: £31,413.09
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
£5,001 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 5.6% fixed and an annual interest rate of 5.45% you would pay:

 

Monthly payment: £181.33

Total charge for credit: £527.88

Total amount you repay: £6,527.88
First Direct 

 £25,000 - £30,000

If you borrow £27,000 over 3 years at a Representative APR of 4.9% fixed and an annual interest rate of 4.9% you would pay:
 

Monthly payment: £806.71
Total charge for credit: £2,041.58
Total amount you repay: £29,041.58
£30,001 - £50,000

If you borrow £35,000 over 3 years at a Representative APR of 6.9% fixed and an annual interest rate of 6.9% you would pay:
 

Monthly payment: £1,075.76
Total charge for credit: £3,727.35
Total amount you repay: £38,727.35
HSBC £7,500 - £15,000

If you borrow £12,000 over 3 years at a Representative APR of 4.9% and an annual interest rate of 4.9% you would pay:

 

Monthly payment: £358.54

Total charge for credit: £907.37

Total amount you repay: £12,907.37
M&S Bank £1,000 - £1,999

If you borrow £1,500 over 3 years at a Representative APR of 14.9% and an annual interest rate of 14.9% you would pay:

 

Monthly payment: £51.24

Total charge for credit: £344.80

Total amount you repay: £1,844.80
£3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 9.9% and an annual interest rate of 9.9% you would pay: 

 

Monthly payment: £128.09

Total charge for credit: £611.22

Total amount you repay: £4,611.22
£7,500 - £15,000

If you borrow £12,000 over 3 years at a Representative APR of 4.9% and an annual interest rate of 4.9% you would pay:

 

Monthly payment: £358.54

Total charge for credit: £907.37

Total amount you repay: £12,907.37
Natwest/ RBS/ Ulster Bank £25,000 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 6.7% fixed and an annual interest rate of 6.7% you would pay:

 

Monthly payment: £919.47

Total charge for credit: £3,100.92

Total amount you repay: £33,100.92
£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 7.9% fixed and an annual interest rate of 7.9% you would pay:

 

Monthly payment: £1,246.64

Total charge for credit: £4,879.04

Total amount you repay: £44,879.04
Novuna Personal Finance £2,500 - £2,999

If you borrow £2,500 over 3 years at a Representative APR of 14.4% fixed and an annual interest rate of 14.4% you would pay:

Monthly payment: £84.87
Total charge for credit: £555.43
Total amount you repay: £3055.43
£3,000 -£4,999

If you borrow £4,000 over 3 years at a Representative APR of 9.7% fixed and an annual interest rate of 9.7% you would pay:


Monthly payment: £127.74
Total charge for credit: £598.64
Total amount you repay: £4,598.64
£5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 6.1% fixed and an annual interest rate of 6.1% you would pay:


Monthly payment: £182.36
Total charge for credit: £564.86
Total amount you repay: £6,564.86
£25,001 - £35,000

If you borrow £26,000 over 4 years at a Representative APR of 7.4% fixed and an annual interest rate of 7.4% you would pay:

Monthly payment: £624.59
Total charge for credit: £3,980.32
Total amount you repay: £29,980.32
Post Office £15,001 - £25,000

If you borrow £20,000 over 3 years at a Representative APR of 5% fixed and an annual interest rate of 5% you would pay:


Monthly payment: £598.42
Total charge for credit: £1,543.17
Total amount you repay: £21,543.17
£25,000 - £40,000

If you borrow £32,000 over 5 years at a Representative APR of 7.9% fixed and an annual interest rate of 7.9% you would pay:

 

Monthly payment: £643.16
Total charge for credit: £6,589.39
Total amount you repay: £38,589.39
Sainsbury's Bank (Nectar cardholder) £5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 6.1% fixed and an annual interest rate of 6.1% you would pay:


Monthly payment: £182.36
Total charge for credit: £564.86
Total amount you repay: £6,564.86
£7,500 - £15,000

If you borrow £12,000 over 3 years at a Representative APR of 4.8% and an annual interest rate of 4.8% you would pay:

 

Monthly payment: £358.02

Total charge for credit: £888.72

Total amount you repay: £12,888.72
£15,001 - £25,000

If you borrow £20,000 over 3 years at a Representative APR of 4.9% fixed and an annual interest rate of 4.9% you would pay:


Monthly payment: £597.56
Total charge for credit: £1,512.16
Total amount you repay: £21,512.16
£25,001 - £40,000

If you borrow £27,000 over 5 years at a Representative APR of 6.6% and an annual interest rate of 6.6% fixed you would pay:

 

Monthly payment: £527.13

Total charge for credit: £4,627.80

Total amount you repay: £31,627.80

Santander

 £1,000 - £1,999

If you borrow £1,500 over 3 years at a Representative APR of 14.5% and an annual interest rate of 14.5% fixed you would pay:

 

Monthly payment: £50.99

Total charge for credit: £335.57

Total amount you repay: £1835.57
£2,000 - £2,999

If you borrow £2,500 over 3 years at a Representative APR of 14.5% and an annual interest rate of 14.5% fixed you would pay:

 

Monthly payment: £84.98

Total charge for credit: £559.28

Total amount you repay: £3059.28
 Tesco Bank £25,001 - £35,000

If you borrow £26,000 over 3 years at a Representative APR of 7.2% and an annual interest rate of 6.97% fixed you would pay:

 

Monthly payment: £802.48

Total charge for credit: £2,889.32

Total amount you repay: £28,889.32
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