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AcornBank.

Loans · Products · FROM THE ACORNBANK FOREST

Acorn Personal Loan — Rates and Returns

A fixed-rate loan for plans that do not fit in a savings pot yet. The rate never moves, the payment never moves, and the tables show exactly how much of each payment is interest.

A wheelbarrow full of acorns.
A fictional bank, a real sense of humour. All people, places, products and figures are invented. No real banking or financial advice. About this demo.

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 detailDemo terms
Account typeFixed-rate personal loan
Rate, reward or charge6.9% 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
AccessFixed monthly repayments over 1 to 7 years; early settlement allowed with up to 58 days’ interest in the model
Eligibility in the scenarioAn adult story applicant with assumed affordability; all decisions are fictional
FeesNo arrangement fee; early settlement costs up to 58 days’ interest
Representative example£10,000.00 over 60 months
CurrencyGBP (£), used solely for fictional calculations

Try your own numbers

Change the amounts to see what Acorn Personal Loan would do in the story. Fictional figures, no application, no advice.

Monthly payment£196.566.9% APR representative, fixed
Total interest
£1,793.43
Total repayable
£11,793.4360 payments
Balance halfway through
£5,415.98Settling then costs up to 58 days’ interest on top.

Acorn Personal Loan against the rest of loans

FeatureAcorn Personal Loan6.9% APR · FIXEDTreehouse Improvement Loan5.9% APR · FIXEDWheelbarrow Car Loan7.9% APR · FIXED
TypeFixed-rate personal loanFixed-rate home improvement loanFixed-rate car loan
Rate, reward or charge6.9% APR representative (fixed); £1,000.00 to £25,000.00 over 1 to 7 years5.9% APR representative (fixed); £7,500.00 to £40,000.00 over 2 to 10 years7.9% APR representative (fixed); £3,000.00 to £30,000.00 over 1 to 5 years
Representative APR6.9% fixed5.9% fixed7.9% fixed
Term1 to 7 years2 to 10 years1 to 5 years
Minimum£1,000.00£7,500.00£3,000.00

Acorn Personal Loan in charts

The same fictional model as the tables below, drawn rather than written. Hover or focus a mark for its value, or open the table view.

Monthly payment on £10,000 by term6.9% APR representative, fixed
£0£250£500£750£1,00012 months · Monthly payment: £863.84£863.8412 months24 months · Monthly payment: £446.33£446.3324 months36 months · Monthly payment: £307.36£307.3636 months48 months · Monthly payment: £238.03£238.0348 months60 months · Monthly payment: £196.56£196.5660 months84 months · Monthly payment: £149.42£149.4284 months

A longer term lowers the payment and raises the total repayable; the tables show both.

View as a table
CategoryMonthly payment
12 months£863.84
24 months£446.33
36 months£307.36
48 months£238.03
60 months£196.56
84 months£149.42
Total interest on £10,000 by termThe cost of spreading the same amount
£0£1,000£2,000£3,00012 months · Total interest: £366.12£366.1212 months24 months · Total interest: £711.84£711.8424 months36 months · Total interest: £1,065£1,06536 months48 months · Total interest: £1,426£1,42648 months60 months · Total interest: £1,793£1,79360 months84 months · Total interest: £2,551£2,55184 months
View as a table
CategoryTotal interest
12 months£366.12
24 months£711.84
36 months£1,065
48 months£1,426
60 months£1,793
84 months£2,551
Balance on £10,000 over 60 monthsEqual payments, interest falling every month
£0£2,500£5,000£7,500£10,000StartM9M18M27M36M45M54M60Start · Balance: £10,000M1 · Balance: £9,859M2 · Balance: £9,718M3 · Balance: £9,575M4 · Balance: £9,432M5 · Balance: £9,288M6 · Balance: £9,143M7 · Balance: £8,998M8 · Balance: £8,851M9 · Balance: £8,704M10 · Balance: £8,556M11 · Balance: £8,407M12 · Balance: £8,258M13 · Balance: £8,107M14 · Balance: £7,956M15 · Balance: £7,804M16 · Balance: £7,650M17 · Balance: £7,497M18 · Balance: £7,342M19 · Balance: £7,186M20 · Balance: £7,030M21 · Balance: £6,872M22 · Balance: £6,714M23 · Balance: £6,555M24 · Balance: £6,395M25 · Balance: £6,234M26 · Balance: £6,072M27 · Balance: £5,910M28 · Balance: £5,746M29 · Balance: £5,581M30 · Balance: £5,416M31 · Balance: £5,250M32 · Balance: £5,082M33 · Balance: £4,914M34 · Balance: £4,745M35 · Balance: £4,575M36 · Balance: £4,404M37 · Balance: £4,232M38 · Balance: £4,059M39 · Balance: £3,885M40 · Balance: £3,710M41 · Balance: £3,534M42 · Balance: £3,357M43 · Balance: £3,179M44 · Balance: £3,001M45 · Balance: £2,821M46 · Balance: £2,640M47 · Balance: £2,458M48 · Balance: £2,275M49 · Balance: £2,091M50 · Balance: £1,906M51 · Balance: £1,721M52 · Balance: £1,534M53 · Balance: £1,346M54 · Balance: £1,157M55 · Balance: £966.41M56 · Balance: £775.24M57 · Balance: £583.00M58 · Balance: £389.69M59 · Balance: £195.30M60 · Balance: £0.00£0.00
View as a table
PointBalance
Start£10,000
M1£9,859
M2£9,718
M3£9,575
M4£9,432
M5£9,288
M6£9,143
M7£8,998
M8£8,851
M9£8,704
M10£8,556
M11£8,407
M12£8,258
M13£8,107
M14£7,956
M15£7,804
M16£7,650
M17£7,497
M18£7,342
M19£7,186
M20£7,030
M21£6,872
M22£6,714
M23£6,555
M24£6,395
M25£6,234
M26£6,072
M27£5,910
M28£5,746
M29£5,581
M30£5,416
M31£5,250
M32£5,082
M33£4,914
M34£4,745
M35£4,575
M36£4,404
M37£4,232
M38£4,059
M39£3,885
M40£3,710
M41£3,534
M42£3,357
M43£3,179
M44£3,001
M45£2,821
M46£2,640
M47£2,458
M48£2,275
M49£2,091
M50£1,906
M51£1,721
M52£1,534
M53£1,346
M54£1,157
M55£966.41
M56£775.24
M57£583.00
M58£389.69
M59£195.30
M60£0.00

Monthly payment and total repayable

Each cell shows the monthly payment, then the total repayable over the term.

Amount24 months36 months60 months84 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

ItemModel amount
Amount borrowed£10,000.00
Term60 monthly payments
Fixed rate6.9% APR representative
Monthly payment£196.56
Total interest£1,793.43
Total repayable£11,793.43

How the balance falls

YearPaymentsOf which interestBalance 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

ItemModel 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.

One fixed rate, one fixed payment

A loan’s representative APR is the annual cost of borrowing including any fees, and here there are none. The rate is fixed, so the monthly payment never changes; what changes with the term is the total repayable. Read the total, not just the payment.

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

AcornBank: entirely fictional banking, exceptionally committed squirrels.