How the balance is worked out
The calculator works out your monthly repayment from the amount, APR and term, using the monthly rate UK lenders use, (1 + APR)^(1/12) − 1. The balance left is the value today of the repayments still to come.
Worked example
You borrowed £10,000 at 7% APR over 5 years, repaying £197.00 a month from 1 January 2025. After 24 repayments you owe £6,400.46. You've repaid £3,599.54 of the loan and £1,128.44 of interest. 36 repayments are left, with £691.50 of interest still to pay, and the last is on 1 December 2029.
Balance or settlement figure?
The balance is what you owe on the loan today. To pay it off early, your lender gives a settlement figure, which can differ slightly because of the 28-day settlement period and any early repayment charge.
To estimate a settlement figure, use the UK early repayment calculator .
What this calculator assumes
A fixed APR, every repayment made in full and on time, and no overpayments. Your statement is the final word on what you owe.
Borrowing in the US?
The country choices above the inputs open separate local pages. US lenders charge the note rate divided by 12, and the payoff amount adds daily interest. Choosing United States opens that page and resets the inputs; amounts are not converted.
For a US loan, use the US remaining loan balance calculator in US dollars.
Inputs for the UK loan balance calculator
Original loan amount
How much you borrowed at the start, in pounds.
APR
The APR on your loan agreement.
Original term
How long the loan was set up to run, in years.
Payments made so far
How many monthly payments you've already made.
First payment date
When you made your first payment. It dates the final one.
CALCULATOR QUESTIONS
UK loan balance calculator questions
How do I calculate my outstanding loan balance?
Work out the value today of the repayments you still have to make, at the loan's monthly rate. That's what you still owe.
Why have I paid off so little after two years?
Early repayments are mostly interest, because interest is charged on a bigger balance. The share going to the loan grows over time.
Is my balance the amount to pay it off?
Not quite. The settlement figure can include up to 58 days of interest and an early repayment charge.
Where can I find my exact balance?
On your statement or your lender's app. You can also ask for a settlement figure, which lenders must provide.