Personal loan calculator

Use this calculator to work out how much your repayments could be on a fixed rate loan from Lloyds. Adjust the amount and term to see how that affects the interest rate and monthly loan repayments.

Important information: How much we lend and the rate available are dependent on our assessment of your circumstances. You must be age 18 or over and a UK resident. You must have had a Lloyds current account for at least 1 month.

Work out your potential loan repayments

This loan calculator uses an illustrative APR to give you an idea of how much a loan might cost. The interest rate we offer could vary, subject to our assessment of your circumstances.

£

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £238.03. Total amount repayable will be £11,425.44. Representative 6.9% APR, annual interest rate (fixed) 6.69%.

This representative APRRepresentative APRThe representative APR is the rate that at least 51% of people are expected to receive when taking out a loan within the stated amount and term range. applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. The maximum APR is 29.9% APR.

Is a personal loan right for you?

Explore personal loan features and check whether you meet the criteria to apply.

Why get a loan with Lloyds?

Borrow between £1,000 and £50,000. You can choose to pay this back over a repayment term of 1 to 7 years. The longer the term, the more interest you could pay.

6.9% APR representative. This applies to loans from £7,500 to £25,000 over 1 to 5 years. We offer other loan amounts and terms, with rates from 5.9% APR, subject to status.

Money when you want it. If your application is approved, the loan sum could be in your account the same day, 9am to 8.30pm, or by 9am the next day.

Repayment holidays. Subject to approval, you can apply for up to 2 non-consecutive repayment holidays of 1 month in a rolling 12-month period. Just be aware that daily interest will still be charged and your loan term will be extended, which will increase your overall borrowing costs.

Make extra payments at any time. This could help to reduce your loan term and borrowing costs. We won’t charge you any extra for making extra payments, unless you pay off your loan in full.

Pay off your loan in full. You can repay you loan early if you want to. Just be aware we might charge up to 58 days’ interest for early settlement.

Can I apply for a loan with Lloyds?

To apply, you need to:

  • be aged 18 or older
  • be a UK resident (except for the Channel Islands and the Isle of Man)
  • have held a Lloyds current account for at least 1 month.
  • be in paid employment or have a regular income and not be a full-time student
  • have no history of bad credit, such as County Court Judgements (CCJs) or bankruptcy.

A loan can’t be used to make speculative purchases, such as gambling, or for things like property, investment and business purposes.

How to get a loan

Get a quote for a personal loan

Tell us how much you want to borrow and over how long to get a quote. This won't affect your credit score.

If you go on to apply, you’ll get a loan decision online.

 

It's simple in the app

Scan the QR code to get it.

You must be registered for online banking to apply in the app.

Once you're in, select Apply, Loans and Car finance, then Loan calculator.

Or you can register on our website.

Already bank online?

We'll take you to the right place to get started.

Log in to get a quote

It's simple in the app

You must be registered for online banking to apply in the app.

Once you're in, select Apply, Loans and Car finance, then Loan calculator.

Get the app

Or you can register on our website.

Already bank online?

We'll take you to the right place to get started.

Log in to get a quote

Let’s look at the details

  • APR stands for annual percentage rate. It helps give you an idea of how much your loan could cost over a year, shown as a percentage. The APR includes the interest rate and standard fees only.

    The lower the APR, the cheaper it could be for you to borrow. But you should aim to borrow the lowest amount over the shortest possible term, helping to keep your borrowing costs to a minimum.

    When you apply, we’ll work out your personalised loan rate (APR) based on:

    your application details – including how much you want to borrow and the time you need to repay it.

    your credit record – this gives us a breakdown of your credit history, your ability to keep up with repayments and any potential risks we should be aware of.

    your past account history – and how you’ve managed any previous loans, credit cards and other accounts you’ve held with us.

  • The maximum amount you can get on a personal loan will depend on your personal circumstances. Lenders look at your credit history, income, loan term and more to work out the amount you can borrow.

    At Lloyds, the maximum loan amount you can get is £50,000.

    Think about how much you really need and can afford to borrow over the shortest possible term. This can help limit your borrowing costs.

    Things to ask yourself before you apply

    • Does a personal loan suit my needs, or should I consider other borrowing options?
    • What can I reasonably afford to repay?
    • Will I be able to make repayments, even if my circumstances change?

  • When you apply for a loan, the lender will complete a hard credit check. This does have the potential to affect your credit score, whether you’re approved or not.

    If approved, a new loan increases your total debt and decreases the average age of your accounts. This could lead to a temporary drop in your credit score but managing your repayments carefully and on time should help your score to recover.

    If you’re declined, it could cause a short-term dip in your credit score, so it’s wise to wait and work to improve your score before you try again. Making multiple credit applications in a short space of time can compound any negative effect on your score.

    If you’re a Lloyds customer, you can get a personal loan quote online, which won’t affect your credit score. If we can, we’ll tell you how likely you are to be approved before you go on to complete a full loan application involving a hard credit check.

  • A loan calculator can help you to understand your potential monthly repayments and total interest costs before you commit to borrowing.

    By trying out different scenarios – adjusting the loan amount and term – you can work out what might suit your budget.

    To minimise your interest costs, it’s always wise to only borrow what you really need, over the shortest possible term.

  • Loan calculators only provide an estimate of loan repayments and overall borrowing costs, based on an illustrative APR.

    When you apply for a loan, the interest rate and terms you’re offered might vary. Factors influencing a lending decision can include the loan amount, term and an assessment of your circumstances.

    If you’re a Lloyds customer, you can get a personal loan quote online, which won’t affect your credit score. If you’re able to apply, we’ll tell you how likely you are to be approved before you complete a full loan application involving a hard credit check.

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