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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.

Getting started

This calculator can show you how making additional payments, or taking a repayment holiday, could change the end date of your loan and the amount of interest paid overall.

You’ll need your loan balance, regular monthly repayment amount and the APR of your loan for the next sections. The easiest way to check these is in Online Banking or the mobile app. Alternatively, you can find your monthly repayment amount on the bank statement where the loan Direct Debits are paid from, and the APR on your loan agreement paperwork.

Tell us about your loan

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Calculate

Repayment holiday information:

  • Once you've made the first monthly repayment on your loan, you'll have the option to apply for a repayment holiday. You can apply for up to two non-consecutive repayment holidays of one month each, in a rolling 12-month period (subject to approval). Just be aware, even though you won't need to make your usual repayment during your repayment holiday, we'll still charge daily interest on your loan. This means you'll pay more overall, and your loan end date will be extended by one month each time.
  • Your agreed monthly Direct Debit payments will stop during a repayment holiday. You’ll receive a letter to let you know when they’ll start again.
  • Additional payments you make won't replace regular monthly repayments after your repayment holiday ends.
  • As long as you’re not in arrears, any payments made during a repayment holiday are treated as additional payments, and can reduce the overall interest and term of your loan.
  • You can make additional payments online, in branch; or by phone.

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.