Personal loan calculator
Use this personal loan calculator to explore different loan amounts, APRs and repayment terms. It provides general estimates to show how changing these details could affect monthly repayments and the overall cost of borrowing. Vanquis does not provide personal loans directly.
Estimated read time: 6 mins
How does a loan calculator work?
A loan calculator helps you estimate how much a loan could cost based on the amount you’d like to borrow, the APR and the repayment term you choose. It uses this info to estimate your monthly repayments and the total amount payable over the loan term.
Changing the loan amount, APR or repayment term will affect your results. This helps you compare borrowing options and find a repayment plan that suits you.
How does the loan term affect repayments?
A longer loan term could reduce your monthly repayments because the cost of the loan is spread over a longer period. But you’ll usually pay more interest overall. This means the total amount you have to repay will likely be higher.
A shorter loan term may increase your monthly repayments, but you could pay less interest over the duration of the loan and reduce the overall amount repayable.
Remember, the figures shown by the calculator are estimates only and intended as a guide. The actual loan terms available to you may vary.
Featured article
17 June 2026
What is a personal loan?
12 February 2026
Why can’t I get a credit card?
11 December 2025
How to pay off credit card debt
Calculate your potential loan repayments
Use the calculator to see a general estimate of monthly repayments and the total cost of borrowing based on the details you enter. The results are illustrative only and are not a loan quote or offer from Vanquis.
Results
- Monthly repayment £0
- Total interest £0
- Loan amount £0
Illustrative example only. This assumes there are no extra fees and that your payments are made on time and in full.
What your results mean
- Monthly repayment: The estimated amount you’ll repay each month over the length of the loan.
- Total repayable: The estimated total amount you’ll repay over the full loan term, including interest.
- Total interest: The estimated amount of interest you’ll pay over the duration of the loan.
- APR: The Annual Percentage Rate (APR) shows the total cost of borrowing over a year and can help you compare loans.
- Loan amount: The amount of money you’d like to borrow.
- Loan term: The length of time you choose to repay the loan.
Borrowing example
Based on the entered, a £5,000 loan repaid over 36 months could have the following estimated costs. This is an illustrative example only and does not indicate that you can borrow this amount from Vanquis.
Your estimated monthly repayment would be £212. The total amount repayable would be £7,631, including £2,631 in interest.
This example is based on an APR of 29.9% and assumes all repayments are made on time and in full.
Important info
The results shown are estimates for guidance only, based on the information you’ve entered. The actual loan amount, APR and repayments you may be offered could be different and will depend on affordability, credit history and the lender’s checks. Terms and conditions will apply.
*Vanquis Bank Limited acts as a credit broker, not a lender, introducing customers to our partner ClearScore. ClearScore acts as a credit broker and not as a lender.
If you take out a loan, Vanquis Bank and ClearScore receive a commission payment from your lender. If you’d like further information about the commission Vanquis Bank or ClearScore receive as a result of your loan, please contact us.
We will not charge you a fee for our services. Loans can only be offered to customers aged 18 or over. Credit is subject to status. Terms and conditions apply.
Can I reduce the total cost of a loan?
There are a few ways you may be able to reduce the overall cost of borrowing.
Compare APRs
The APR shows you the total cost of borrowing. It also helps you compare loans from different lenders more easily. Normally, the lower the APR, the less you may pay over the duration of the loan.
Watch out for additional fees
Before taking out a loan, read the terms carefully and check whether there are any additional fees or charges. These can increase the total cost of borrowing.
Borrow only what you need
Borrowing less means you’ll typically pay less interest overall. Before applying, think about how much you need and if a smaller loan might be better.
Thinking about switching an existing loan?
If you already have a loan, it may be worth comparing it with other options. But don’t just focus on the monthly payment.
Look for any early repayment charges, settlement fees, or other costs that might apply. Then, compare the total amount repayable to see whether switching could save you money.
Your savings will depend on your situation, the rates you can get, and the terms of your current and new loan.
FAQs
Will using the calculator affect my credit score?
No. Using this general loan calculator is free and does not involve a credit application or credit check, so it will not affect your credit score.
What does APR mean?
APR stands for Annual Percentage Rate. It shows the total cost of borrowing over a year, including interest, and can help you compare loans from different lenders.
How does the loan term affect repayments?
A longer loan term can lower your monthly payments, but you’ll often pay more interest in total. A shorter loan term can mean higher monthly repayments, but less interest paid overall.
Can I take a payment break?
If you’re struggling to make your loan payments, contact your loan provider right away. They can talk you through the support that may be available and help you understand your options.
Can I repay a personal loan early?
Each lender has different rules for this. If you take out a loan, the fees and rules for paying it back early will depend on the lender and the offer. You should see all this info, including any fees, up front before you sign any agreements.
Could I save money by changing an existing loan?
Possibly. Changing an existing loan could help you reduce your monthly repayments or get a better interest rate. Before you make changes, think about how it might impact your total repayment. Check for any early repayment charges, settlement fees, or other costs too.
Take control with Vanquis
What is a personal loan?
Personal loans give you the flexibility to borrow a fixed amount and repay it in manageable monthly instalments over a term. Learn more about personal loans....
Ways to borrow safely
Here we give you a quick overview of some of the more common ways of borrowing, how they work and what you might want to think about....
Support beyond us
Explore organisations and resources that can provide additional financial wellbeing and practical support....
Soft credit checks
A soft credit check lets you see whether you're likely to be approved without affecting your credit score. Learn more about how soft credit checks work....
Improve your credit score
Worried about how to improve credit score? Read our latest guide to learn ways to improve your credit score. Check our guide today!...
