Free calculator
Start Up Loan calculator
See what a government-backed Start Up Loan would cost each month. Choose an amount up to £25,000 and a term of one to five years to get the monthly repayment, the total interest and the full schedule.
Monthly repayment
£200.38
for 60 months
Total interest
£2,022.77
Total repaid
£12,022.77
Repayment schedule
| Year | Paid | Interest | Capital | Still owed |
|---|---|---|---|---|
| 1 | £2,404.56 | £691.93 | £1,712.63 | £8,287.37 |
| 2 | £2,404.56 | £558.97 | £1,845.59 | £6,441.78 |
| 3 | £2,404.56 | £415.68 | £1,988.88 | £4,452.90 |
| 4 | £2,404.56 | £261.30 | £2,143.26 | £2,309.64 |
| 5 | £2,404.53 | £94.89 | £2,309.64 | £0.00 |
How it works
Start Up Loans are personal loans with a fixed interest rate, repaid in equal monthly instalments. Each month, interest is charged on the amount you still owe, and the rest of your payment reduces the loan. Early payments are mostly interest; by the end, almost all of each payment goes towards the loan itself.
The monthly payment uses the standard repayment formula for a fixed-rate loan, rounded to the penny. The final payment is adjusted by a few pence so that the balance ends at exactly zero.
Worked example
Borrow £10,000 over 5 years at the fixed rate of 7.5% a year. The monthly repayment is £200.38. In the first month £62.50 of that is interest and £137.88 pays off the loan. Over 60 months you repay £12,022.77, so the loan costs £2,022.77 in interest.
The same loan at 6%, the rate before April 2026, would have cost £193.33 a month and £1,599.68 in interest. Borrowing the maximum of £25,000 over 5 years at 7.5% costs £500.95 a month and £5,056.96 in interest.
Assumptions
- The rate is the fixed 7.5% a year that GOV.UK gives for new Start Up Loans. If your loan was approved before April 2026, enter your own rate.
- Interest is worked out monthly on the balance still owed (one twelfth of the annual rate each month), with equal monthly payments.
- There are no fees: Start Up Loans have no application fee and no early repayment fee, so paying off early simply saves the interest you would have paid.
- The loan is personal and unsecured, and approval depends on a credit check and your business plan. This calculator does not check eligibility.
- Figures are rounded to the penny; your loan agreement is the final word on the amounts you pay.
Sources
Rates, limits and fees were checked on 21 October 2026.
Not financial advice. This calculator gives estimates for general information only. It does not know your full circumstances, and tax rules, rates and fees change. Check the official sources and speak to a qualified accountant, tax adviser or lawyer before you make a decision.