Interest for this type of Loan = 2.5% per month or 34.49% APR
Examples of Loan repayable over 1 Year (12 months)
| Amount borrowed (£) | Length of Loan (months) | Monthly repayments (£) | Total Interest added (£) | Total Loan cost incl. interest (£) |
|---|---|---|---|---|
| 50 | 12 | 4.87 | 8.58 | 58.58 |
| 100 | 12 | 9.75 | 17.06 | 117.06 |
| 200 | 12 | 19.50 | 34.04 | 234.04 |
| 300 | 12 | 29.25 | 51.07 | 351.07 |
| 400 | 12 | 38.99 | 68.09 | 468.09 |
| 500 | 12 | 48.74 | 85.09 | 585.09 |
| 600 | 12 | 58.49 | 102.06 | 702.06 |
| 750 | 12 | 73.12 | 127.57 | 877.57 |
Examples of Loan repayable over 2 Years (24 months)
| Amount borrowed (£) | Length of Loan (months) | Monthly repayments (£) | Total Interest added (£) | Total Loan cost incl. interest (£) |
|---|---|---|---|---|
| 50 | 24 | 2.80 | 17.26 | 67.26 |
| 100 | 24 | 5.59 | 34.41 | 134.41 |
| 200 | 24 | 11.18 | 68.60 | 268.60 |
| 300 | 24 | 16.77 | 102.83 | 402.83 |
| 400 | 24 | 22.37 | 136.95 | 536.95 |
| 500 | 24 | 27.96 | 171.18 | 671.18 |
| 600 | 24 | 33.55 | 205.41 | 805.41 |
| 750 | 24 | 41.93 | 256.79 | 1,006.79 |
Examples of Loan repayable over 3 Years (36 months)
| Amount borrowed (£) | Length of Loan (months) | Monthly repayments (£) | Total Interest added (£) | Total Loan cost incl. interest (£) |
|---|---|---|---|---|
| 50 | 36 | 2.12 | 26.74 | 76.74 |
| 100 | 36 | 4.25 | 53.01 | 153.01 |
| 200 | 36 | 8.49 | 105.99 | 305.99 |
| 300 | 36 | 12.74 | 158.78 | 458.78 |
| 400 | 36 | 16.98 | 211.76 | 611.76 |
| 500 | 36 | 21.23 | 264.47 | 764.47 |
| 600 | 36 | 25.47 | 317.40 | 917.40 |
| 750 | 36 | 31.84 | 396.68 | 1,146.68 |