Loan calculator

For secured and personal loans

Whether you’re taking out a loan to consolidate your debts or pay for home improvements, you’ll no doubt want to know how much it’s going to cost per month. This is where our handy loan calculator comes in. This tool will estimate your monthly loan repayments based on:

  • How much money you want to borrow
  • How long you want to borrow it for
  • The estimated APR you enter

Knowing how much your loan will cost you each month and over the full term is important, as it lets you assess affordability both now and in the future.

How do you calculate a loan payment?

Here at Ocean, we calculate your loan cost based on:

  1. Your loan amount
  2. How long you borrow it for
  3. The APR

We’ll take the amount you’re borrowing, add on the cost of interest, and then divide it by the number of months (or years) you want to make your repayments.

Please note that APR is calculated annually, so taking out a loan over a longer period will likely increase the amount of interest you pay overall.

Let’s see what we can do for you today

Personal Loans from £1,000 to £15,000

  • Instant online decision
  • All credit histories welcome
  • No upfront fees

79.5% APR Representative (variable)

Homeowner Loans from £10,000 to £500,000

  • Check if you'll be accepted before you apply
  • Getting a quote won’t affect your credit score
  • We compare 100s of loans with competitive rates

12.40% APRC Representative (variable)

Ocean Finance is a trading style of Intelligent Lending Limited. We are a credit broker working with a panel of lenders to find you a loan.

Homeowner loans are secured against your property.

How could we help you?

Ocean has provided access to loans, credit cards and mortgages to people across the UK since 1991. In this time, we’ve pre-approved more than a million people, offering products and advice to suit their circumstances.

  • All credit histories considered

  • Check your eligibility without affecting your credit score

  • Save time finding the right loan deal

You can learn more about Ocean on our about us page.

Homeowner loans are secured against your property. This means your home may be at risk if you fall behind with your secured loan or mortgage repayments.

Remember, if you consolidate your existing borrowing, you may be extending the term and increasing the amount you repay in total.

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