Demo rate card6.9% APR representative (fixed); £1,000.00 to £25,000.00 over 1 to 7 years
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | Fixed-rate personal loan |
| Rate, reward or charge | 6.9% APR representative (fixed); £1,000.00 to £25,000.00 over 1 to 7 years |
| Illustrative loan amount | £1,000.00 to £25,000.00 over 12 to 84 months |
| Access | Fixed monthly repayments over 1 to 7 years; early settlement allowed with up to 58 days’ interest in the model |
| Eligibility in the scenario | An adult story applicant with assumed affordability; all decisions are fictional |
| Fees | No arrangement fee; early settlement costs up to 58 days’ interest |
| Representative example | £10,000.00 over 60 months |
| Currency | GBP (£), used solely for fictional calculations |
Monthly payment and total repayable
Each cell shows the monthly payment, then the total repayable over the term.
| Amount | 24 months | 36 months | 60 months | 84 months |
|---|---|---|---|---|
| £5,000.00 | £223.16 / £5,355.91 | £153.68 / £5,532.48 | £98.28 / £5,896.71 | £74.71 / £6,275.72 |
| £10,000.00 | £446.33 / £10,711.84 | £307.36 / £11,064.93 | £196.56 / £11,793.43 | £149.42 / £12,551.38 |
| £15,000.00 | £669.49 / £16,067.75 | £461.04 / £16,597.44 | £294.84 / £17,690.11 | £224.13 / £18,827.05 |
| £25,000.00 | £1,115.82 / £26,779.55 | £768.40 / £27,662.38 | £491.39 / £29,483.59 | £373.55 / £31,378.34 |
Representative example: £10,000.00 over 60 months
| Item | Model amount |
|---|---|
| Amount borrowed | £10,000.00 |
| Term | 60 monthly payments |
| Fixed rate | 6.9% APR representative |
| Monthly payment | £196.56 |
| Total interest | £1,793.43 |
| Total repayable | £11,793.43 |
How the balance falls
| Year | Payments | Of which interest | Balance at year end |
|---|---|---|---|
| 1 | £2,358.72 | £616.30 | £8,257.58 |
| 2 | £2,358.72 | £496.09 | £6,394.95 |
| 3 | £2,358.72 | £367.57 | £4,403.80 |
| 4 | £2,358.72 | £230.18 | £2,275.26 |
| 5 | £2,358.55 | £83.29 | £0.00 |
Settling early
| Item | Model amount |
|---|---|
| Balance after 30 payments | £5,415.98 |
| 58 days’ interest in the model | £59.38 |
| Amount to settle | £5,475.36 |
| Interest saved versus running to term | £421.27 |
Assumptions: the fixed rate is converted to an equivalent monthly rate, payments are equal with an adjusted final payment, interest is rounded monthly and nothing is missed or overpaid. The early-settlement figure follows the usual up-to-58-days convention. This is a fictional illustration, not a credit agreement or a quotation.
Acorn Personal Loan is fixed-rate personal loan in the Loans range, used for a planned purchase paid off in fixed monthly amounts. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
Plan the account before the paperwork
Choose a story goal for Acorn Personal Loan, identify the amount available and check when it will be needed. Read the access rules before the rate: fixed monthly repayments over 1 to 7 years; early settlement allowed with up to 58 days’ interest in the model. Next, compare a suitable example with the fee summary. No real sign-up, identity upload, payment link or customer account is available on this site.
See the whole Loans range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Loans — Borrowing a Wheelbarrow of Acorns
- Acorn Personal Loan — How the Nutwork Works
- Acorn Personal Loan — Adding Pretend Nuts
AcornBank: entirely fictional banking, exceptionally committed squirrels.