How the loan amount is worked out
A loan is worth its future repayments discounted at its interest rate. The calculator turns the APR into a monthly rate the way UK lenders do (FCA CONC App 1.2), (1 + APR)^(1/12) − 1, and adds up the present value of every repayment.
Worked example
£300 a month for 5 years at 7% APR repays a loan of £15,228.50. You repay £18,000, so £2,771.50 is interest. With a £2,000 deposit, you could buy something costing £17,228.50.
Finding your original loan amount
Enter your monthly repayment, the APR and the original term from your agreement. The result is the amount you borrowed, before any fees added to the loan.
What this calculator assumes
A fixed APR and equal monthly repayments. Lenders decide what they'll lend from your income, spending and credit file, so they may offer less.
Will a lender agree?
A repayment you can afford is only part of it. Lenders also check your budget.
To check what your budget supports, use the UK loan eligibility calculator .
Borrowing in the US?
The country choices above the inputs open separate local pages. US lenders charge the note rate divided by 12, so the same rate supports a slightly different amount. Choosing United States opens that page and resets the inputs; amounts are not converted.
For a US loan, use the US loan principal calculator in US dollars.
Inputs for the UK loan amount calculator
Monthly payment
The repayment you can afford, or the one on your loan, in pounds.
APR
The APR you expect, or the one on your agreement.
Term
How long you'll make the payments, in years.
Deposit (optional)
Money you'd put down towards a purchase. Enter 0 if none.
CALCULATOR QUESTIONS
UK loan amount calculator questions
How do I calculate a loan amount from the monthly payment?
Discount each repayment back to today at the monthly rate and add them up: payment × (1 − (1 + r)^−n) ÷ r, where r is the monthly rate and n the number of repayments.
How much can I borrow for £300 a month?
About £15,228 over 5 years at 7% APR. A longer term or lower rate means you can borrow more.
Does a deposit change how much I borrow?
No. It adds to what you can spend, not to the loan.
Why might a lender offer less?
Lenders check your income, spending and credit history, not just the repayment you'd like.