How the time is worked out
Each month the calculator adds interest at the monthly rate matching your APR (as defined in FCA CONC App 1.2), then takes off your payment; your lender charges the rate in your agreement, so its figures may differ slightly. The number of payments is n = −ln(1 − rate × balance ÷ payment) ÷ ln(1 + rate), rounded up, with a smaller last payment that clears the rest.
Worked example
£10,000 at 7% APR, paying £300 a month from 1 December 2026, takes 38 repayments: 37 of £300 and a last one of £11.82, on 1 January 2030. You pay £1,111.82 of interest in total.
Paying more each month
Raising the payment shortens the loan and cuts the interest. If the payment doesn't cover a month's interest the balance never falls, and the calculator tells you.
To see how much overpaying saves on your loan, use the UK loan overpayment calculator .
What this calculator assumes
A fixed APR, the same payment every month and no fees. Some UK calculators divide the APR by 12 instead, which gives slightly more interest.
Borrowing in the US?
The country choices above the inputs open separate local pages. US lenders charge the note rate divided by 12, and dates are written month first. Choosing United States opens that page and resets the inputs; amounts are not converted.
For the US version, use the US loan payoff time calculator in US dollars.
Inputs for the UK how long to repay a loan calculator
Amount you owe
The balance now, or the amount you're borrowing, in pounds.
APR
The APR on your loan.
Monthly payment
What you'll pay each month.
First payment date
When you'll make the next payment.
CALCULATOR QUESTIONS
UK how long to repay a loan calculator questions
How long will it take to pay off my loan?
Divide the work into months: the payment covers the interest, and the rest reduces the balance. The calculator counts the months for you.
Why is the last payment smaller?
Because only a little is left after the last full payment.
What if my payment only covers the interest?
Then the balance never falls. You need to pay more than the monthly interest.
Does paying weekly help?
Paying more often or more in total reduces interest slightly. What matters most is the total you pay.