Calculate your interest payments
How it works.
- Enter the amount you’ve borrowed into ‘Total balance owed’.
- Enter your interest rate for this debt into ‘Interest rate (APR)’.
- If you make a set payment every month, enter it into ‘Monthly payment’.
- Or, if you’re planning to make only the minimum repayment, enter your minimum payment percentage into the next box. This should be between 3% and 5%, but if you’re not sure, ask your lender.
- You can now see how long your debt will take to repay, and how much interest you’ll pay in total
This information should only be used as a guide – your lenders will be able to provide you with specific information in relation to your credit. If you are struggling with debt repayments, we could help you find the right solution.