Free tools for UK family loans
Family Loan Calculators UK
Plan repayments in pounds, compare an interest rate and work through whether money is genuinely a gift or a loan.
Choose a calculator ↓Three free tools for family money decisions
Use one calculator on its own or compare all three before agreeing the repayment plan, the interest rate and whether repayment is expected at all.
Family Loan Calculator
Calculate weekly, fortnightly or monthly repayments, total interest, payoff date and a full repayment schedule in GBP.
Calculate repayments →02Choose a rateMinimum Interest Rate
Answer “what is the minimum interest I can charge?” and compare 0% with a rate that suits this family loan.
Compare interest rates →03Choose the structureGift vs Loan
Work through repayment intent, written terms and practical UK tax questions before calling the money a gift or a loan.
Compare gift vs loan →Start with the question
Which calculator should I use?
Start with the outcome you need. Each tool keeps one decision clear instead of mixing the repayment plan, rate and gift question together.
Use the Family Loan Calculator for amount, rate, term and repayment frequency.
Use the Minimum Interest Rate tool to compare 0% and a chosen rate.
Use the Gift vs Loan Calculator to clarify whether repayment is genuinely expected.
UK family loan calculator FAQs
Plain-English answers for planning money between people who know each other.
What does a UK family loan calculator show?
It estimates repayments from the amount, annual interest rate, term and payment frequency. Chipkie also shows total interest, total repaid, payoff date and a full schedule.
Is there a minimum interest rate for a family loan in the UK?
For an ordinary private loan between family or friends, there is no single UK government rate that must always be charged. The parties may agree on 0% or another rate.
Can a UK family loan be interest-free?
Yes. An ordinary private family loan can be documented at 0%, provided both people are clear that the principal is still expected to be repaid.
Does interest from a family loan need to be declared?
Interest received can form part of the lender’s taxable savings income. The amount of tax depends on the lender’s other income and available allowances.
Is money from family a gift or a loan?
A gift carries no genuine expectation of repayment. A loan does, and is clearer when the amount, repayment plan and any interest are recorded.
Can a gift affect Inheritance Tax?
Some lifetime gifts can count for Inheritance Tax if the donor dies within seven years. GOV.UK explains exemptions and the seven-year rule.
Ready to turn the numbers into a plan?
Set up and track a family loan for free. Add a written Chipkie Loan Contract only when the arrangement needs one.