When you borrow money, you repay a fixed amount each month. These instalments include a portion of the principal (the amount of the actual loan) and interest, together called repayments. The amount of your repayments depends on the amount you borrow and the term of your loan. How much interest you pay each month depends on your personal situation, for example your income, your family situation and whether you own your home or rent it. If you would like to know exactly how much a loan will cost you each month, you can
calculate your loan here.