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Wonga Interest Calculator

Use the sliders above to calculate the interest for your Wonga loan. All our costs are shown upfront so you know exactly the amount you need to pay back.

What is interest?

If you borrow money, such as a payday loan, you’ll have to pay back what you borrow plus charges by the lender. These charges are made up of interest and fees. Interest is a daily charge for borrowing money.  Make sure you understand the full cost that applies to your loan including any charges if you repay late.

How is the interest rate calculated?

How much interest you pay depends on the following:

  • Interest rate

  • Loan term

  • Loan amount

The higher the interest rate and loan amount and length of borrowing, the more interest you’ll pay.

How to use the Wonga interest calculator

With our slider calculator you can select how much you want to borrow and exactly how long for. Simply use the sliders and see the full costs of the loan upfront before you apply, including interest and any other fees.

To apply for a Wonga short term loan, you must:

  • Be over 18
  • Be a bank account and debit card holder
  • Be a mobile phone owner
  • Live in the UK

Further help on interest rates

If you’re trying to manage existing debt or if you’re struggling to manage financially, consider carefully what your options are. For further advice on managing your money visit the Money Advice Service.