| First Repayment | Repayment Amount after 6 months | Total Loan Term (months) | Total Amount You Will Repay | Cost increase over NO PAYG option | |
|---|---|---|---|---|---|
| If you don't use any Pay As You Grow options | xx | xx | 72 | xx | N/A |
| i Term extension to 10 years | xx | xx | 120 | xx | xx |
|
i
Interest only (6 months) |
xx | xx | 78* | xx | xx |
| i Full Repayment Holiday (6 months) | N/A | xx | 78* | xx | xx |
| i Term Extension to 10 years + Interst Only (6 months) | xx | xx | 120 | xx | xx |
| i Term Extension to 10 years + Full Repayment Holiday (6 months) | N/A | xx | 120 | xx | xx |
Important Information
Interest Rate: 2.5% (fixed) per annum
The amounts shown are indicative and could vary from your actual repayment amount
This calculator assumes no repayments have been made and you have not already chosen any Pay As You Grow options
Your first monthly repayment will be taken 13 months after you opened your loan. For the first 12 months of your loan, no capital repayments are required and interest payments are covered by the UK Government's Business Interruption Payment.
To avail of one of the Pay As You Grow options, please refer back to our Pay As You Grow webpage for more information on How to Apply.
*The above illustration defaults to 78 months (original 6yr term loan + 6 months), however you can choose not to extend your loan by 6 months. This will increase monthly repayments, and will decrease the total amount you repay.