Unsecured Personal Loans are quick loans paid back in instalment. Lenders consider your current financial situation and your credit worthiness. ⭐Apply Now⭐
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Sometimes, no matter how much planning and preparation you do, your finances can’t always stretch to cover an emergency. However, if an emergency arises like your car breaking down when you’re two weeks away from payday, you actually have a lot more options available to you than just walking to work.
Unsecured personal loans are a convenient option to receive the finance you need to cover all of the little things that can easily catch you off guard.
In this article, LoanTube team explain what Unsecured Personal Loans are, the benefits of these loans, and how you can get one.
Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92. Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92. Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00 Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00 Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24. Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.Maximise your options: Compare and apply for loans below with LoanTube
Apply Filters
Loan Amount
£4000 -
£20000
Norwich Trust
Loan Term
1 -
10 years
4.8/5
Representative APR
22.9%
Minimum Age
21 Years
4.8/5
Norwich Trust
Loan Amount
£4000 -
£20000
Loan Term
1 -
10 years
Representative APR
22.9%
Minimum Age
21 Years
Minimum Income
£2000 per month
Loan Amount
£5000 -
£100000
Evolution Money Loans
Loan Term
1 -
20 years
4.5/5
Representative APR
28.96%
Minimum Age
18 years
4.5/5
Evolution Money Loans
Loan Amount
£5000 -
£100000
Loan Term
1 -
20 years
Representative APR
28.96%
Minimum Age
18 years
Minimum Income
Not mentioned
Loan Amount
£1000 -
£10000
1Plus1 Guarantor Loans
Loan Term
1 -
5 years
4.4/5
Representative APR
47.80%
Minimum Age
18 years
4.4/5
1Plus1 Guarantor Loans
Loan Amount
£1000 -
£10000
Loan Term
1 -
5 years
Representative APR
47.80%
Minimum Age
18 years
Minimum Income
Not mentioned
What is an Unsecured Personal Loan?
Many types of loans that you might get from your bank require you to provide a form of collateral like your home or your car. You provide the bank with something that is worth a lot of money, which they can sell if you can’t repay the loan. For people who want to borrow a little bit of money without having to risk losing their house, this isn’t a viable option.
That’s where unsecured personal loans demonstrate their value and why millions of them are taken out every year in the UK. Instead of having to provide collateral, unsecured loans look at your current financial situation and creditworthiness. Every personal loan fits around the needs of the borrower.
What are the Biggest Benefits of Getting an Unsecured Personal Loan?
- An unsecured loan can help you out when you need it most
You can create a budget for everything but all it can take sometimes is one emergency and you’re left without much money. In situations like these, many people choose to take out an unsecured personal loan to cover the costs of their cars breaking down, any urgent home improvements, and plane tickets to visit unwell loved ones.
- The money is in your account quickly
Your loan approval could come in seconds. Better still, it isn’t uncommon for people to see the money in their bank account on the very same day that they apply.
However, please be aware that LoanTube doesn’t lend you the money – we’re not lenders, we’re a credit broker. We connect with you the lenders (all licensed by the Financial Conduct Authority) who will consider your loan application. Applying through LoanTube means you don’t have to submit dozens of applications individually to each lender to get your loan decision.
- You only borrow what you need
Because we work with so many FCA-approved lenders, finding a loan for the amount you need is quicker and easier than ever. Whether you need to borrow £100 or £2,000, you can do it with an unsecured personal loan.
Many banks won’t offer you the chance to borrow lower amounts of money. You may find that this puts you in an uncomfortable situation – you either borrow more money than you need through the bank or you won’t have access to the money at all.
- You don’t need a high credit score but you need to be employed
Some people feel that they won’t be accepted for an unsecured personal loan because they have a low credit score. This isn’t the case with LoanTube. Because each lender has their own “profile” and these profiles tell us about the type of loan each lender wants to make, We will introduce you to some lenders who we know will provide loans for people with bad low credit scores. Please note that you need to be employed to be eligible for an Unsecured Personal Loan.
Of course, you will have more options available to you when your credit score is higher. For more information about how to build your credit score, click here.
- You pay off the loan in manageable instalments
Unsecured personal loans are typically paid off in monthly instalments. You will always know how much you need to pay and when you need to pay it by.
There are no hidden fees either. The Financial Conduct Authority (FCA) is the regulatory body for all short-term brokers and lenders. One of their rules is that any fees and charges must be included in the price that you see when you sign up. You don’t have to worry about any nasty surprises in the future with any loan company we introduce you to here at LoanTube.
- You can use the loan in nearly any way you like
Once your loan application has been accepted and the money enters your account, you can do whatever you like with it. People use unsecured loans to buy new cars, spread the payments of fixing their houses, and even to consolidate all of their debts.
What you Need to Know About Making a Loan Application Through LoanTube
At LoanTube, we work to help people find the cheapest loan possible, even for borrowers with poor credit ratings.
How do we do this? Every lender we work with has a “profile” – the type of borrower they’re happy to lend to. When you submit your details to us, our clever computer system matches you with the lenders whose “profile” you’re closest to. This is all done in real-time and, once we’ve got all the quotes, we present all these offers with their terms and condition to you. Although we can’t guarantee we’ll find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple lenders.
To start your application, please click here.
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