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Representative APR examples

Official personal loan APRs

representative APR examples
Eesha Mohindra
Eesha Mohindra | Edited by Martin Lewis
Updated 4 December 2019

There are regulations governing how APRs must be displayed. Below are 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.

APR examples by provider

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
Admiral £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 13.2% fixed and an annual interest rate of 13.2% fixed you would pay:

Monthly payment: £66.87
Total charge for credit: £407.32
Total amount you repay: £2,407.32
£3,000 - £4,999

If you borrow £3,700 over 3 years at a Representative APR of 8.2% fixed and an annual interest rate of 8.2% fixed you would pay:

Monthly payment: £115.79
Total charge for credit: £468.44
Total amount you repay: £4,168.44
£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: £175.41
Total charge for credit: £314.74
Total amount you repay: £6,314.74
AIB £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 12.6% fixed and an annual interest rate of 12% you would pay:

 

Monthly payment: £66.58

Total charge for credit: £396.88

Total amount you repay: £2,396.88
Cahoot £1,000 - £1,999

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
£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
Clydesdale / Yorkshire Bank £5,000 - £7,499

If you borrow £6,000 over 3 years at a Representative APR of 3.5% fixed and at an annual interest rate of 3.5% you would pay: 

Monthly payment: £175.67
Total charge for credit: £324
Total amount you repay: £6,324
£20,000 - £25,000

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

Monthly payment: £639.40
Total charge for credit: £1,018.19
Total amount you repay: £23,018.19
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
  £1,000 - £2,999

If you borrow £2,000 over 3 years at a Representative APR of 12.6% fixed and an annual interest rate of 12% you would pay:

 

Monthly payment: £66.58

Total charge for credit: £396.88

Total amount you repay: £2,396.88
Halifax £25,001 - £35,000

If you borrow £30,000 over 3 years at a Representative APR of 5.8% fixed and an annual interest rate of 5.8% you would pay:

 

Monthly payment: £907.93

Total charge for credit: £2,685.48

Total amount you repay: £32,685.48
Hitachi £3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 8.5% fixed and an annual interest rate of 8.5% you would pay:

Monthly payment: £125.69
Total charge for credit: £524.84
Total amount you repay: £4,524.84
£5,000 - £7,999

If you borrow £6,000 over 3 years at a Representative APR of 3.5% fixed and an annual interest rate of 3.5% you would pay:

Monthly payment: £175.67
Total charge for credit: £324.12
Total amount you repay: £6,324.12
Ikano Bank £2,000 - £2,999

If you borrow £2,900 over 3 years at a Representative APR of 13.4% fixed and an annual interest rate of 12.6% you would pay:

Monthly payment: £97.21
Total charge for credit: £599.56
Total amount you repay: £3,499.56
John Lewis Finance £7,500 - £15,000

If you borrow £10,000 over 3 years at a Representative APR of 2.9% and an annual interest rate of 2.86% you would pay:

Monthly payment: £290.13
Total charge for credit: £444.51
Total amount you repay: £10,444.51
M&S Bank £7,500 - £19,999

If you borrow £10,000 over 4 years at a Representative APR of 2.9% fixed and an annual interest rate of 2.9% you would pay:

Monthly payment: £220.90
Total charge for credit: £603.28
Total amount you repay: £10,603.28
Post Office £3,000 - £4,999

If you borrow £4,000 over 3 years at a Representative APR of 8.9% fixed and an annual interest rate of 8.9% you would pay:

Monthly payment: £126.37

Total charge for credit: £549.49

Total amount you repay: £4,549.49
Sainsbury's Bank £15,000 - £25,000 (2-7 year term with a Nectar card)

If you borrow £20,000 over 3 years at a Representative APR of 2.9% fixed and an annual interest rate of 2.9% you would pay:

Monthly payment: £580.41
Total charge for credit: £894.76
Total amount you repay: £20,894.76
£25,001 - £40,000 (2-7 year term with a Nectar card)

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: £919.51
Total charge for credit: £3,102.36
Total amount you repay: £33,102.36
Santander
 £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% fixed you would pay:

Monthly payment: £50.35
Total charge for credit: £312.60
Total amount you repay: £1,812.60
Tesco Bank £7,500 - £25,000

If you borrow £23,000 over 3 years at a Representative APR of 2.9% and an annual interest rate of 2.9% fixed you would pay:

Monthly payment: £667.47
Total charge for credit: £1,028.92
Total amount you repay: £24,028.92
£25,001 - £35,000

If you borrow £26,000 over 3 years at a Representative APR of 6.6% fixed and an annual interest rate of 6.6% you would pay:

Monthly payment: £795.79
Total charge for credit: £2,648.44
Total amount you repay: £28,648.44
Zopa £5,000 - £7,499

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

Monthly payment: £175.51
Total charge for credit: £318.36
Total amount you repay: £6,318.36
£7,500 - £15,000

If you borrow £10,000 over 3 years at a Representative APR of 2.9% and an annual interest rate of 2.9% fixed you would pay:

Monthly payment: £290.38
Total charge for credit: £453.68
Total amount you repay: £10,453.68
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