Loan repayments are calculated using a fixed interest rate, the amount you are borrowing and the length of your loan. This information is available to borrowers before agreeing to take a loan, along with other financial information and key contract terms. Your monthly repayments will always be equal, and will typically consist of interest payments and repayments of the outstanding principal of the loan. Each month the interest portion of the payment will typically go down and the principal portion will go up.
With Coronavirus Business Interruption Loan Scheme (CBILS) or Bounce Back Loan Scheme (BBLS) loans, you won't have any loan repayments for the first 12 months. After this, your monthly repayments will begin, as depicted above.
The full repayment schedule for your loan will be sent after your loan has been funded, or can be seen at any time in the My Account section of the website.