This unsecured home improvement loan calculator helps you estimate your monthly payments and total loan cost based on the loan amount, interest rate, and term.

Loan Calculation Formula

Monthly Payment = Loan Amount × Monthly Interest ÷ (1 – (1 + Monthly Interest)-Loan Term)
Total Loan Cost = Monthly Payment × Loan Term

Example Calculation

£10,000 loan, 5% interest rate, 5-year term → Monthly Payment = £188.71, Total Loan Cost = £11,32