Loan overpayment and repayment holiday calculator

How does it work?

This calculator can show you how making extra payments, or taking a repayment holiday, could change the end date of your loan and the amount of interest paid overall.

You’ll need your loan balance, regular monthly payment amount and the APR of your loan for the next sections. The easiest way to check these is in Internet Banking or the mobile app. Alternatively, you can find your monthly repayment amount on the bank statement where the loan Direct Debits are paid from, and the APR on your loan agreement paperwork.

Tell us about your loan

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Take a one-month repayment holiday
 

  • A repayment holiday gives you a one-month break from your loan repayments. 
  • You’ll have the option to apply for up to two non-consecutive repayment holidays in a rolling 12-month period (subject to approval).
  • You won’t need to make your usual repayment during your repayment holiday, but we’ll still charge daily interest on your loan balance. This means that you’ll pay more overall, and your loan’s end date will be extended by one month each time. 
  • We’ll tell you what the additional interest will be before we confirm and start your repayment holiday. You can also use the calculator to get an idea of how much extra your interest charges are likely to be before you apply. 


If you would like to take a repayment holiday, you’ll need to let us know at least five working days before your next loan repayment is due.
 

You can ask for a one-month payment holiday at any time, providing you are up-to-date with your loan repayments and have 30 days or more remaining on your loan term. 

Remaining repayments:

Based on the information provided your loan is now expected to be repaid after ##holmonths## month(s).

Important: this is only an illustration

These results should only be used as a guide, as we have to make certain assumptions that could change. For example, that you’ll make all future repayments after the repayment holiday on time and on the same day of the month as you do now, and that other additional payments won’t be made.

We’ve used the APR which, because of rounding, means the estimated interest figure shown won’t be the exact amount of interest you’ll actually pay.

If you take other payment holidays or make additional payments in future, we’ll confirm the details at the time. 

New balance:

If you take a payment holiday of ##remainhol## month your balance will be:

##payholiday##

Remaining repayments:

Based on the information provided, your payment holiday of ##remainhol## month:

Your loan is now expected to be repaid after ##holmonths## month(s), an increase of ##holmonthdiff## month(s) if you had not taken a payment holiday.

You’ll be charged an estimated ##holintdiff## interest by doing this.

Important: this is only an illustration

These results should only be used as a guide, as we have to make certain assumptions that could change. For example, that you’ll make all future repayments after the repayment holiday on time and on the same day of the month as you do now, and that other additional payments won’t be made.

We’ve used the APR which, because of rounding, means the estimated interest figure shown won’t be the exact amount of interest you’ll actually pay.

If you take other payment holidays or make additional payments in future, we’ll confirm the details at the time. 

Remaining repayments:

Based on the information provided, your payment holiday of ##remainhol## month and making ##overpayterm## additional monthly payment(s) of ##overpayamt##:

Your loan is now expected to be repaid after ##opmonths## month(s), ##optermchange## of ##opmonthdiff## month(s) if you had not taken a payment holiday and if you had not made additional payments.

You’ll ##opintchange## an estimated ##opintdiff## interest by doing this.

Important: this is only an illustration

These results should only be used as a guide, as we have to make certain assumptions that could change. For example, that you’ll make all future repayments after the repayment holiday on time and on the same day of the month as you do now, and that other additional payments won’t be made.

We’ve used the APR which, because of rounding, means the estimated interest figure shown won’t be the exact amount of interest you’ll actually pay.

If you take other payment holidays or make additional payments in future, we’ll confirm the details at the time. 

Remaining repayments:

Based on the information provided, making ##overpayterm## additional monthly payment(s) of ##overpayamt##:

Your loan is now expected to be repaid after ##opmonths## month(s), ##optermchange## of ##opmonthdiff## month(s) if you had not made additional payment(s).

You’ll ##opintchange## an estimated ##opintdiff## interest by doing this.

Important: this is only an illustration

These results should only be used as a guide, as we have to make certain assumptions that could change. For example, that you’ll make all future repayments after the repayment holiday on time and on the same day of the month as you do now, and that other additional payments won’t be made.

We’ve used the APR which, because of rounding, means the estimated interest figure shown won’t be the exact amount of interest you’ll actually pay.

If you take other payment holidays or make additional payments in future, we’ll confirm the details at the time. 

Remaining repayments:

Based on the information provided, your payment holiday of ##remainhol## month and making ##overpayterm## additional monthly payment(s) of ##overpayamt##:

Your loan is now expected to be repaid after ##opmonths## month(s).

You’ll ##opintchange## an estimated ##opintdiff## interest by doing this.

Important: this is only an illustration

These results should only be used as a guide, as we have to make certain assumptions that could change. For example, that you’ll make all future repayments after the repayment holiday on time and on the same day of the month as you do now, and that other additional payments won’t be made.

We’ve used the APR which, because of rounding, means the estimated interest figure shown won’t be the exact amount of interest you’ll actually pay.

If you take other payment holidays or make additional payments in future, we’ll confirm the details at the time. 

  • The values entered indicate it will take more than 10 years to repay your loan. Please re-check the values you've entered, or contact us to discuss further options.