Compare Personal Loans

If you want to buy a car, pay for a family holiday, or fund home improvements, you'd probably have to save for a long time to build up the cash you need. A personal loan can be a useful way to buy what you need now.

Lender Product APR Amount Borrowed (example) Total Repayable Monthly Payment Apply
Likely Loans
£2,000 over 24 months
Personal Loan
Rates APR: 59.9%
£2,000 over 24 months £3,145.2 £131.05 per month
Apply Now

Likely Loans

£2,000 over 24 months
Personal Loan

APR

Rates APR: 59.9%

Amount Borrowed (example)

£2,000 over 24 months

Total Repayable

£3,145.2

Monthly Payment

£131.05

Apply Now
Representative example: Borrowing £2,000 over 24 months at Representative 59.9% APR and Interest rate 59.9% p.a. (fixed) with monthly repayments of £131.05 and a total amount payable of £3,145.20
Saga Personal Loans
£1,000 - £25,000
Terms 1 - 7 years
Personal Loan
7.9%
Representative (fixed)
£10,000 over 3 years £11,219.40 £311.65 per month
Apply Now

Saga Personal Loans

£1,000 - £25,000
Terms 1 - 7 years
Personal Loan

APR

7.9% Representative (fixed)

Amount Borrowed (example)

£10,000 over 3 years

Total Repayable

£11,219.40

Monthly Payment

£311.65

Apply Now
You must be a homeowner and between 50 and 75 years old to apply for this loan. Representative example: The representative rate is 7.9% APR (fixed) so if you borrow £10,000 over 3 years at a rate of 7.9% (fixed), you will repay £311.65 for 36 months and £11,219.40 in total. Provided by Shawbrook Bank Limited. Acromas Financial Services Limited is a credit broker, not a credit lender.
Zopa Personal Loan
£1000 - £25,000
Terms 1 - 5 years
Personal Loan
3.2%
Representative
£10,000 over 5 years £10,822 £180.37
Apply Now

Zopa Personal Loan

£1000 - £25,000
Terms 1 - 5 years
Personal Loan

APR

3.2% Representative

Amount Borrowed (example)

£10,000 over 5 years

Total Repayable

£10,822

Monthly Payment

£180.37

Apply Now
A loan of £10,000 over 5 years will cost you £180.37 per month at a representative 3.2% APR. The total cost after 5 years is £10,822, which includes £712.33 interest at 2.7% fixed and a £110 fee. The total amount of credit is £10,110.
Everyday Personal Loans
£1000 - £15,000
Terms 2 - 5 years
Conditional decision within minutes
59.9% PA
Representative
£3,000 over 2 years £5,213.68 £217.24
Apply Now

Everyday Personal Loans

£1000 - £15,000
Terms 2 - 5 years
Conditional decision within minutes

APR

59.9% PA Representative

Amount Borrowed (example)

£3,000 over 2 years

Total Repayable

£5,213.68

Monthly Payment

£217.24

Apply Now
Representative Example: Borrowing £3,000 over 2 years at an interest rate of 67.9% p.a. (fixed), you will repay 24 monthly payments of £231.78 per month. Interest payable £2,562.75. Total amount payable £5,562.75. Representative 93.6% APR.
Trusttwo Guarantor Loan
£1000 - £7500
Terms 2 - 5 years
 
43.8 %
Representative
£4,000 over 3 years £6,669.72 £160.51
Apply Now

Trusttwo Guarantor Loan

£1000 - £7500
Terms 2 - 5 years
 

APR

43.8 % Representative

Amount Borrowed (example)

£4,000 over 3 years

Total Repayable

£6,669.72

Monthly Payment

£160.51

Apply Now
Representative example: Borrowing £4,000 over 3 years at an interest rate of 36.9% p.a. (fixed), you will repay 36 monthly payments of £185.27. Interest payable £2,669.72. Total repayable £6,669.72. Representative 43.8% APR.

Personal loans

A personal loan allows you to borrow a fixed amount of money over a set length of time, usually at a fixed rate of interest.


Most banks and building societies offer unsecured personal loans, up to a maximum of £25,000, which are usually repaid over a period of between 1 and 5 years.


If you wish to borrow more than £25,000, you can take out a secured loan, however the repayments are secured against your assets (usually a property), which means that if you can't keep up with your repayments, you could lose your home.


Who can apply?

Most people are eligible to apply for a personal loan, including non-homeowners.


However, the rate you get will depend on your credit score and personal circumstances. Your provider will carry out a credit check when you apply for a personal loan. If you have a poor credit history, you could be rejected or offered a higher rate of interest.


What are the advantages?

Personal loans are a traditional, tried and tested way to borrow money.


Because the repayments and interest rate are both fixed, you will know from day one how much your monthly repayments will be, making it easier to budget.


Rather than waiting for savings to build up to make a purchase a personal loan allows you make the purchase right away, then repay the loan.


Good to know

  • Avoid taking out a loan you cannot afford to service or repay. Personal loans might be unsecured, but you still have to pay the money back. Missed payments will negatively affect your credit score.
  • Don't borrow more than you need. Lower amounts are easier to borrow and the quicker you pay it back.
  • Getting turned down? It's worth checking your credit report as there might be a mistake on there that's costing you. And remember, many applications will leave a footprint on your credit history.

What are the drawbacks?

Watch out for charges. Some providers charge loan arrangement fees, while others penalise you if you want to pay your loan off early.


You may not get the low advertised rate, known as the Representative APR. By law, providers must offer the advertised rate to 51% of successful loan applicants, which means that almost half may be offered a less attractive rate of interest.


It can be tempting to repay your loan over a longer term to reduce the monthly payments. However, you may end up paying substantially more interest over the life of the loan and therefore the total amount payable.


Borrowing money means you will pay interest on the amount. Saving your money then buying outright is cheaper.


Find New Ways To Save
Sign up for FREE news and money saving offers and more.