A personal loan calculator can compare estimated monthly payments and total interest for secured and unsecured borrowing when you enter the amount, term and interest rate or APR. Secured loans use an asset, often your home, as security and may offer lower rates or larger borrowing, but you could lose the asset if you do not repay. Unsecured loans do not require security, although lenders assess your credit history, income and affordability and may charge more. Calculator results are estimates, not guaranteed offers, so check the final terms with an FCA-authorised lender before applying.