Useful next calculations
When to use this calculator
- Before comparing personal loan or credit offers on the same amount and term.
- When you want to see total interest, not only the monthly payment.
- When you are choosing between a shorter term and a lower monthly debit.
- When you need a planning estimate before making a credit application.
A worked example
These are the example figures the calculator opens with.
| Input | Value |
|---|---|
| Balance to transfer (£) | £3,500 |
| Transfer fee (%) | 3% |
| 0% promotional period (months) | 18% |
For those figures the calculator returns:
- Transfer fee: £105.00
- Balance after fee: £3,605.00
- Monthly payment to clear: £200.28
How to read your results
Monthly Payment to Clear
Estimated amount paid each month under the selected APR and term. It is not a guaranteed offer.
Method & assumptions
This planner makes a balance-transfer deadline concrete. It adds the entered transfer fee to the balance, shows the even monthly amount needed to clear it during the entered 0% period and estimates the balance left if you follow a different monthly payment.
If a balance remains, it uses the post-promotion APR you enter to illustrate a further payoff path. That illustration does not replace the card agreement, minimum-payment rules, fees, credit-limit rules or an affordability assessment.
Never rely on a future balance-transfer offer. Keep required payments up to date and seek free independent debt advice if the plan is not affordable rather than taking additional borrowing.
Common mistakes
- Judging an offer by the monthly payment alone and ignoring total interest.
- Using a representative APR as if it were a guaranteed personal rate.
- Forgetting arrangement fees or early-settlement terms.
- Comparing two loans that do not use the same amount and term.
What to do next
- Compare offers using the same amount and term, then check total repayable.
- Add fees and read early-settlement terms before treating the estimate as the full cost.
- Test a shorter term to see whether a higher payment is worth the interest saved.
- If several debts are involved, use a consolidation or payoff planner next.