Apr Loan Calculator
Use the Apr Loan Calculator to determine your monthly repayments
The APR Loan Calculator is a useful tool for working out how much you will have to spend on a monthly basis to repay your personal loan. Enter the loan amount, the interest rate and the loan term, and the calculator will return the monthly repayment (including some of the loan and some of the interest) you'll have to repay every month. It's important to note that the APR is a more accurate way of comparing a loan, because it factors in all the additional charges that might apply when you take out the loan, rather than simply calculating the repayments.
APR stands for annual percentage rate, and will take factors such as the loan arrangement fee and any additional supplementary charges into consideration. APR was brought into force to counteract the advertisement of loans by their interest rate alone, which enabled loan providers to attract customers with unrealistically low rates and make up the shortfall with additional charges. The APR loan calculator should be used in your research, but if you are taking out a sizable loan it is also a good idea to talk to a loan specialist. This will ensure that you are choosing the right product for your circumstances and that you are financial stable enough to be able to afford the repayments without putting your home or other assets at risk.