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representative APR examples

Representative APR examples

Official personal loan APRs

Benjamin Taylor
Benjamin Taylor
Money Analyst – Banking and Insurance
Updated 25 March 2025

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.

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

Bank of Scotland

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 8.8% fixed and an annual interest rate of 8.8% you would pay:

Monthly payment: £933.66
Total charge for credit: £3,611.76
Total amount you repay: £33,611.76

£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 7.8% fixed and an annual interest rate of 7.8% you would pay:

Monthly payment: £1,262.03
Total charge for credit: £5,433.08
Total amount you repay: £45,433.08

Barclays

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 7.9% fixed and an annual interest rate of 7.9% you would pay:

Monthly payment: £934.95
Total charge for credit: £3,658.20
Total amount you repay: £33,658.20

£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 8% fixed and an annual interest rate of 8% you would pay:

Monthly payment: £1,248.31
Total charge for credit: £4,939.16
Total amount you repay: £44,939.16

First Direct

Loan amount

Representative APR

£25,000 - £30,000

If you borrow £27,000 over 3 years at a Representative APR of 5.9% fixed and an annual interest rate of 5.9% you would pay:

Monthly payment: £818.29
Total charge for credit: £2,458.48
Total amount you repay: £29,458.48

£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

Halifax

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 8.8% fixed and an annual interest rate of 8.8% you would pay:

Monthly payment: £933.66
Total charge for credit: £3,611.76
Total amount you repay: £33,611.76

£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 7.8% fixed and an annual interest rate of 7.8% you would pay:

Monthly payment: £1,262.03
Total charge for credit: £5,433.08
Total amount you repay: £45,433.08

John Lewis Finance

Loan amount

Representative APR

£1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 9.9% and an annual interest rate of 9.9% you would pay:

Monthly payment: £64
Total charge for credit: £319
Total amount you repay: £2,319

Lloyds

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 8.8% fixed and an annual interest rate of 8.8% you would pay:

Monthly payment: £933.66
Total charge for credit: £3,611.76
Total amount you repay: £33,611.76

£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 7.8% fixed and an annual interest rate of 7.8% you would pay:

Monthly payment: £1,262.03
Total charge for credit: £5,433.08
Total amount you repay: £45,433.08

Nationwide

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 5 years at a Representative APR of 6.9% and an annual interest rate of 6.9% you would pay:

Monthly payment: £589.68
Total charge for credit: £5,380.80
Total amount you repay: £35,380.80

£35,001 - £50,000

If you borrow £40,000 over 5 years at a Representative APR of 7.9% and an annual interest rate of 7.9% you would pay:

Monthly payment: £803.94
Total charge for credit: £8,236.40
Total amount you repay: £48,236.40

Natwest/ RBS/ Ulster Bank

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 7.7% fixed and an annual interest rate of 7.7% you would pay:

Monthly payment: £932.36
Total charge for credit: £3,564.96
Total amount you repay: £33,564.96

£35,001 - £50,000

If you borrow £40,000 over 3 years at a Representative APR of 8.7% fixed and an annual interest rate of 8.7% you would pay:

Monthly payment: £1,260.29
Total charge for credit: £5,370.44
Total amount you repay: £45,370.44

Novuna Personal Finance

Loan amount

Representative APR

£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: £555.32
Total amount you repay: £3,055.32

£3,000 - £3,999

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

Monthly payment: £96.07
Total charge for credit: £458.52
Total amount you repay: £3,458.52

£4,000 - £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

People's Choice

Loan amount

Representative APR

£1,000 - £4,999

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

Monthly payment: £92
Total charge for credit: £339
Total amount you repay: £3,339

£5,000 - £6,999

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

Monthly payment: £185
Total charge for credit: £669
Total amount you repay: £6,669

£7,000 - £7,499

If you borrow £7,000 over 3 years at a Representative APR of 6.5% fixed and an annual interest rate of 6.5% you would pay:

Monthly payment: £214
Total charge for credit: £723
Total amount you repay: £7,723

£7,500 - £25,000

If you borrow £10,000 over 3 years at a Representative APR of 5.8% fixed and an annual interest rate of 5.8% you would pay:

Monthly payment: £303
Total charge for credit: £919
Total amount you repay: £10,919

Santander

Loan amount

Representative APR

£1,000 - £2,999

If you borrow £2,500 over 3 years at a Representative APR of 13.5% and an annual interest rate of 13.5% fixed you would pay:

Monthly payment: £83.91
Total charge for credit: £520.76
Total amount you repay: £3020.76

£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% fixed you would pay:

Monthly payment: £128.09
Total charge for credit: £611.24
Total amount you repay: £4,611.24

£5,000 - £7,499

If you borrow £7,000 over 3 years at a Representative APR of 7.2% and an annual interest rate of 7.2% fixed you would pay:

Monthly payment: £216.05
Total charge for credit: £777.80
Total amount you repay: £7,777.80

£7,500 - £14,999

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: £304.36
Total charge for credit: £956.96
Total amount you repay: £10,956.96

£20,000 - £25,000

If you borrow £23,000 over 3 years at a Representative APR of 6.4% and an annual interest rate of 6.4% fixed you would pay:

Monthly payment: £702.00
Total charge for credit: £2,272.00
Total amount you repay: £25,272.00

Tesco Bank

Loan amount

Representative APR

£25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 7.8% and an annual interest rate of 7.8% fixed you would pay:

Monthly payment: £933.65
Total charge for credit: £3,611.40
Total amount you repay: £33,611.40

TSB

Loan amount

Representative APR

£7,500 - £25,000

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: £304.36
Total charge for credit: £956.96
Total amount you repay: £10,956.96