Loan overpayment and repayment holiday calculator

Our calculator shows how making extra payments, or taking a repayment holiday, could change the end date of your loan and the amount of interest paid.

Lets get started

You’ll need your loan balance, regular monthly payment amount and the APR of your loan ready for the next sections. Please call us to confirm any of these you’re not sure about. Alternatively, you can find your monthly repayment amount on the bank statement where the loan Direct Debits are paid from. You can also find the APR on your loan agreement paperwork.

Tell us about your loan

£
£
£
Calculate

Take a repayment holiday

  • A repayment holiday gives you a 1-month break from your loan repayments. 
  • You can apply for up to two repayment holidays of 1 month in a rolling 12-month period, subject to approval.
  • Extra interest will be charged if you take a repayment holiday. So, you’ll pay more interest overall and your original term will increase. 
  • We’ll tell about the extra interest before we set up your repayment holiday. Our calculator can show you before you apply. 
  • You need to inform us at least five working days before your next loan repayment is due for this to be applied to your next payment. 


You can request a payment holiday at any time, providing you:

  • Have made at least one repayment and have a Direct Debit in place.
  • Are up to date with your loan repayments. 
  • 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.