Online APR & Unsecured Loans Calculator

Personal Loan Calculator

Interested in an affordable personal loan? Use our handy Personal Loan Calculator as a guide for your monthly repayments.

At Progressive Money we have made calculating a loan as simple as possible, just enter your credit rating status, how much you would like to borrow and for how long you plan to pay it back. We’ll do the rest.

Using our Personal Loan Calculator

Our free online Personal Loan Calculator allows you to evaluate your current financial situation and work out an affordable loan amount and repayment period before submitting an application. It’s often a quick and simple process. Just select a loan amount and repayment period (how long you have to pay it back) from the drop down menus; the calculator then converts it into a total and monthly repayment amount with typical rate of APR interest applied.

Taking out a personal loan could be more affordable than you think. Use the flexibility of our Personal Loan Calculator to check out different options regarding both the loan amount and repayment period to get the best deal for your situation.

Loan Calculator Guide

There are many lending options out there and it can often get confusing when looking for an affordable loan with a payment date and frequency to suit you. At Progressive Money we strive to make things as simple as possible. Here is an easy guide to how our bespoke Personal Loan Calculators could help you work out what personal loan amount best suits your needs.

The Personal Loan and APR calculator gives an intelligent estimate based on an average customer’s financial situation and credit rating. This means that the results could differ dependent on individual circumstances, any necessary fees and further evaluation.

To receive an exact quote for a personal loan, you can apply online or give one of our expert advisors a quick call today on 0161 814 9383.

Personal Loans

We offer personal loans between of £1,000 up to a maximum amount of £15,000.

A personal loan can be used for a variety of things from buying a new car to paying for your big day. You may also be able to take out a loan to consolidate your debts in to one affordable repayment.

It is an unsecured loan so it is not necessary for you to use your home or any other assets as security to guarantee the repayment of the loan. However, in order to qualify for a personal loan with Progressive Money you will need to be a homeowner and live in that property.

If your application is successful you will shortly* receive your personal loan amount in your bank account. Monthly repayments can be taken as a direct debit, or a card payment and will be a consistent amount each month unless you intend to pay the loan off quicker than the agreed term, though please be aware there may be a charge for this. Late repayments can also result in additional fees. If you are having difficulty paying back the agreed loan, please contact us as soon as possible so we can help you.

When used responsibly, an unsecured personal loan can prove to be very effective and could help to improve your financial situation. Use the free Personal Loan Calculator to estimate how much you will require and how affordable it may be for your situation before making a decision to apply for a loan.

*(subject to income and expenditure verification checks)

Loan Limits

We have a range of personal loan amounts to suit your needs whether you have an upcoming wedding or honeymoon and require a £1,000 loan or plan to make some major home improvements and require a £10,000 loan. The maximum personal loan amount you can borrow from Progressive Money is £15,000.

The repayment period can also be tailored to your needs. This ranges from a shorter 18 months to a maximum repayment period of 120 months (10 years). A shorter loan term usually results in a smaller total cost, but a longer repayment term may mean that your monthly payment will be less.

Please note we are only able to offer a loan to an individual who has proof of being able to afford the repayments. When applying for an unsecured loan we will usually ask for confirmation of being a homeowner, proof of income, bank statements and a form of identification. We also take your credit score in to consideration.

Why Your Credit Score Matters

A credit score is a three digit number calculated based on your credit history, this is used by lenders to determine if an individual is eligible for a financial service. It helps evaluate your creditworthiness and is based on your credit history. Lenders use credit scores to evaluate the probability that an individual will repay their debts.

The online Personal Loan Calculator asks potential customers to input their credit rating as either good, fair or poor to determine the end monthly payment result. However, Progressive Money are a specialist direct lender which means our decision is not exclusively based on credit scores and we take the time to understand your personal circumstances in order to find a lending solution to suit you.

For more information, see our guide for customers on how to improve your credit score or speak to one of our qualified loan advisors.

How is APR Calculated on a Personal Loan?

The Annual Percentage Rate (APR) is the yearly cost of borrowing your loan. Our Personal Loan Calculator automatically factors a typical APR interest rate for customers and includes the total repayment, and your expected monthly repayments and any added fees.

At Progressive Money we only offer fixed rate loans so the APR will remain the same throughout your repayment term providing you do not over pay or miss any payments.

For further information on applying for an unsecured personal loan, APR or our loan calculator then speak to one of our expert advisors on 0161 814 9383 or apply online via our website for a quote.