About LoanCalc
LoanCalc is a free, independent loan repayment calculator built to help people understand exactly what a loan will cost them before they borrow — no sign-up, no data collection beyond standard analytics, and no lender affiliation.
Why we built this
Loan comparison sites are often designed to funnel you toward a specific lender or product. We wanted something different: a straightforward tool that shows you the real math behind a loan — your monthly payment, how much of it goes to interest versus capital, and what percentage of your take-home pay it represents — without pushing a particular provider.
Whether you're comparing a 3-year term against a 5-year term, checking if a rate you've been quoted is reasonable, or just curious how amortisation works, LoanCalc gives you the full month-by-month breakdown instantly.
How the calculations work
Monthly repayments are calculated using the standard loan amortisation formula, which accounts for your loan amount, annual interest rate, and repayment term. Each month's payment is split between interest (calculated on the remaining balance) and capital (which reduces what you owe). Early payments are interest-heavy; later payments are increasingly capital-heavy — this is normal for any fixed-rate amortising loan.
The salary affordability panel estimates UK take-home pay using 2026/27 income tax and National Insurance rates for England and Wales, assuming the standard personal allowance. It does not account for student loan repayments, pension contributions, Scottish tax rates, or other individual circumstances, so treat it as a guide rather than exact payslip math.
Where our default rates come from
Each currency loads with a real average market rate rather than an arbitrary number, so your starting point is grounded in current data:
What LoanCalc is not
- We are not a lender, broker, or financial advisor, and we don't sell your data to lenders.
- Figures shown are estimates for illustrative purposes — always confirm exact terms with your lender before signing anything.
- We don't guarantee the accuracy of default rates beyond their stated source and date; rates change frequently.
Privacy & cookies
LoanCalc uses Google AdSense to display advertising, which may set cookies for personalised ads where you've given consent via the cookie banner. No loan or salary figures you enter are transmitted anywhere — all calculations run locally in your browser.
Get in touch
Spotted an error, have a suggestion, or want to report an issue? Visit our contact page and send us a message.