Online secured loans calculator

Our loan calculator can be used as a guide and will show you an example of typical monthly repayments and total repayable when a loan amount and loan term is selected.

Before you go ahead and submit an application for a secured loan, it’s worth trying out our nifty loan calculator first. The calculator allows you to select a total loan amount and repayment period, which is then converted into a typical monthly repayment period with a typical rate of interest applied. This allows loan applicants to evaluate their current financial situation and get a much clearer view of the value of loan they are able to afford before they submit a formal application.

Plus, it’s really easy to use! Simply select the total amount you’re looking to borrow from the drop-down menu – whether that’s a £1,000 loan, a £5,000 loan or a £10,000 loan. Our maximum secured loan amount that you are able to borrow is £25,000. You will then also need to select a repayment period that suits you. This ranges from over 12 months to over 180 months, though the interest rate is liable to increase the longer the long repayment period you choose.

From there, the calculator will generate the typical APRC interest rate to show the total repayable and the typical repayments that you’re due to pay each month. Try it out for yourself below…

So, for instance, let’s say you are looking to apply for a £2,000 loan which has a repayment period of over 24 months, though you have a poor credit rating and have been refused credit elsewhere. At an estimated 67% APRC added interest rate, you would be due to repay a total amount of £3267.36, which works to a monthly repayment schedule of £136.14 for each month of the loan period.

Whichever loan amount you’re looking to borrow, it’s important to be aware that this calculator provides our customers with an estimate based on an average customer’s financial situation and credit rating. The figures may, therefore, be subject to change in lieu of your own individual situation once we have evaluated all necessary factors.

In order to receive an exact quote for the terms and conditions of your own secured loan, it’s best to give one of our expert loan advisors a quick call today on 0161 814 9158 to talk through your credit needs.

* Evolution Money is a responsible lending partner, therefore loans applied for through Evolution Money are subject to affordability checks and further criteria being met by the applicant. T & Cs apply.