Idea PlannerLoan instalment calculator
Type what the lender offered. See the monthly instalment, the total repaid and the interest.
The rate above is an example. Banks may also charge fees and the rate may change; ask the lender.
How it is worked out
The instalment is the loan times r times (1 + r) to the power n, divided by ((1 + r) to the power n minus 1), where r is the rate for one month (the yearly rate divided by 12 and by 100) and n is the number of months. A loan of 300,000 at 12 percent for 3 years has an instalment of about 9,964.
Before you borrow
- Check that the business profit, after your own pay, is clearly above the instalment.
- Ask for all fees and the total you will repay.
- Borrow the least you need.
Details of government loan schemes change, so this site does not describe them: ask a bank or the official scheme page.
Common questions
Is this the same as the bank figure?
It should be close if the bank uses a monthly reducing balance. Fees, rounding and other methods can change it slightly.
Can I borrow without collateral?
It depends on the lender and the scheme. Ask the bank; this site does not state rules.
Keep going
This site states no profit figure, start-up cost, licence requirement or loan scheme: you type your own numbers, and the idea pages list questions to ask and things to measure. Interest rates in the worksheets are typed by you. It is not financial, tax or legal advice. Checked 14 November 2026.