LoanTube

Best Personal Loan Intrest Rate in the UK

A personal loan in the UK is an essential financial tool used during a financial emergency or when you find yourself in a situation requiring funds you might not have planned for. Luckily, there’s no shortage of lenders offering personal loans, varying from traditional banks to online loan platforms.

When looking for your best loan option, the important part is to ensure that you are aware of your need and know how to look for the right personal loan to help in your situation.

Unsure of what loan will serve you best? Compare different loans quickly at LoanTube and find the best option for you.

One essential point to remember when deciding which personal loan to apply for is your ability to repay the loan. This will also help determine what interest rate will serve you best. So, make your decisions wisely and then look for the right loan with the lowest possible internet rate for your individual situation.

When looking for a personal loan, it’s imperative to know and compare the interest rates, APR, other fees, charges, etc., of various banks, lenders and financial institutions, and that process can be very cumbersome. Chances are you might get lost. So, here’s a handy list of the best personal loans in the UK with low interest rates laid out for you to help make your decision-making process a lot simpler.

41 Best Low Interest Personal Loans in the UK
(July 2022)​

Here’s a table comparing various personal loans and their specifications, including interest rates, APR, loan amount range, tenure, eligibility criteria, etc.

Lendable Unsecured Loans

Loan Amount

£1,000 - £25,000

Term

12 - 60 months

Representative APR

24.50%

About Lendable Unsecured Loans

Landable provide fast loans at fair rates. They let you check your rate before applying for the loan without affecting your credit score. Simplicity, speed, and transparency are their core values.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

£800 per month

Other Requirements

  1. You do not have any CCJs
  2. You have been living in the UK for at least 3 years

Representative Example: Assumed borrowing of £7,500.00 over 36 months at 24.5% APR representative. Monthly cost of £286.84. Total amount repayable of £10,326.27. Interest rate of 19.5% p.a.(fixed) and total fees of £440.00.

BetterBorrow Loans

Loan Amount

£1,000 - £12,000

Term

12 - 60 months

Representative APR

27.10%

About BetterBorrow Loans

BetterBorrow specialises in getting you the quickest of quotes on the interest rate and APR on your personal loan. It’s straightforward to apply for a loan with them. There’s no place for messy paperwork or long forms in their processing.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£12,000 per annum

Other Requirements

  1. Must be a UK resident
  2. Must be employed, self-employed or retired with a pension
  3. Must have a bank account registered in your name and to your current address

Representative Example: 27.1% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 27.1% pa (fixed). Monthly repayment of £177.68. Total amount payable £7,462.73. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.

LiveLend Loans

Loan Amount

£1,000 - £12,000

Term

12 - 60 months

Representative APR

29.90%

About LiveLend Loans

Created by the British Bank Chetwood, LiveLend believes in the optimum use of technology for the best customer experiences and product innovation. Getting a quote from LiveLend doesn’t affect your credit score, and they offer some of the lowest interest loans for good credit profiles.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£12,000 per annum

Other Requirements

  1. Must be a UK resident
  2. Must be employed, self-employed or retired with a pension
  3. Must have a good track record of repaying debt

Representative example: 29.9% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 29.9% pa (fixed). Monthly repayment of £183.74. Total amount payable £7,717.27 Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.

Lending Works Personal Loans

Loan Amount

£1,000 - £25,000

Term

12 - 60 months

Representative APR

12.90%

About Lending Works Personal Loans

Lending Works is one of the leading peer-to-peer lending platforms which connects a borrower to many lenders. You get the loan amount disbursed in your bank account within 48 hours with Lending Works.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident

Representative example: Borrow £1,000 over 12 months at 12.9% APR representative. Monthly repayments of £87.68 and total amount payable of £1052.15. Interest of 4.5% p.a. (fixed) and total fees of £27.50. The rate you are offered may differ from the representative APR shown and will be based on your personal circumstances, loan amount and repayment term.

Shawbrook Personal Loans

Loan Amount

£1,000 - £35,000

Term

12 - 84 months

Representative APR

13.90%

About Shawbrook Personal Loans

Apply online within minutes and get an instant decision on your loan application. Shawbrook offers fixed rates upfront, which are guaranteed. Their service is quick, and their team is efficient and helpful to borrowers.

Eligibility Criteria

Minimum Age

25 years

Minimum Income

£15,000 per annum

Other Requirements

  1. Must be a UK resident for atleast 3 years
  2. Must have a good credit history with no outstanding County Court Judgement (CCJ).

Representative Example: for comparison purposes, 13.9% APR Representative based on a loan of £10,000 repayable over 60 months (five years) with an interest rate of 13.9% p.a. (fixed). Monthly payment of £227.97 total amount repayable £13,678.20.

Zopa Loans

Loan Amount

£1,000 - £25,000

Term

12 - 60 months

Representative APR

15.40%

About Zopa Loans

Zopa was the first to work as a peer-to-peer lending company. In 2020, they got a full banking license. They offer credit cards, deposit accounts, and bank loans at legitimate interest rates for various purposes. They closed their peer-to-peer platform in December 2021.

Eligibility Criteria

Minimum Age

20 years

Minimum Income

£12,000 per annum

Other Requirements

  1. Must be a current UK resident with 1 year of address history in the UK
  2. Must be employed, self-employed or retired with a pension
  3. Must have a good track record of repaying debt

Representative example: A loan of £10,000 over 5 years will cost you £234.99 per month at a representative 15.4% APR. The total cost after 5 years is £14,099.54, which includes £4,099.54 interest at 15.4% fixed and a £0 fee. The total amount of credit is £10,000.

Likely Loans

Loan Amount

£500 - £5,000

Term

12 - 36 months

Representative APR

59.90%

About Likely Loans

It’s easy and fast on likely loans to know your chances of getting loans. Their eligibility criteria are simple, and they also help the applicant with bad credit history up to a certain extent. There are nominal or no processing fees when you apply on Likely Loans.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK citizen
  2. Must not have bankruptcy in the previous 12 months
  3. Must have some credit history

Representative example: If you borrow £2,000.00 over 24 months at a Representative rate of 59.9% APR and an annual interest rate of 59.9% (fixed), you would pay 24 monthly instalments of £131.05. The total charge for credit will be £1,145.20 and the total amount payable will be £3,145.20.

Bamboo Loans

Loan Amount

£1,000 - £8,000

Term

12 - 60 months

Representative APR

59.70%

About Bamboo Loans

Bamboo provides personal unsecured loans online with affordable interest rates and flexible tenure. Many customers applaud their customer service, along with their quick and discreet loan processing.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident (exlcuding the Channel Islands and Isle of Man)
  2. Must be able to afford the monthly repayments and not bankrupt

Representative example: If you borrow £3,00.00 over 24 months. Rate of interest 47.73% per annum (fixed). Representative 59.7% APR. Total amount payable £4,711.38 of which £1,711.38 is interest. 23 monthly repayments of £196.31 and a final payment of £196.25.

Everyday Loans

Loan Amount

£1,000 - £15,000

Term

12 - 60 months

Representative APR

99.90%

About Everyday Loans

If you had to struggle with credit in the past due to bad credit history, everyday loans might be able to help you. They are a friendly lending platform in the UK, owned by Secure Trust Bank PLC.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£10,000 per annum

Other Requirements

  1. Must be a UK citizen
  2. Must not be furloughed or on sick leave
  3. You might need to visit nearest Everyday Loans branch to complete your application.

Representative Example: Representative APR 99.9% (fixed). Based on a loan of £3,000 over 24 months at an interest of 71.3% p.a. (fixed). Monthly repayments of £237.75. Total amount payable £5,706. Maximum APR: 299%.

Loans2Go

Loan Amount

£250 - £2,000

Term

upto 24 months

Representative APR

770.00%

About Loans2Go

Money2Go is also a friendly lending platform that prefers quickly passing loan applications. They decide in seconds about the loan. And they can complete the procedures in record 15 minutes.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident

Representative example: If you borrow £550 over 18 months at a flat rate of 180% per annum (fixed) with a representative 770% APR you will make 18 monthly payments of £113.06, repaying £2,035.08 in total.

118118 Money Loans

Loan Amount

£1,000 - £5,000

Term

12 - 36 months

Representative APR

49.90%

About 118118 Money Loans

118118 Money Loans provide personalised financial solutions at affordable interest rates. They offer credit cards and pre-approved personal loans, taken by more than a million people every year.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£1,000 net per month

Other Requirements

  1. Must be a UK citizen
  2. Must be employed or Self Employed
  3. Must have UK Bank Account and Debit Card

Representative Example: Representative APR 49.9%. Based on a loan of £2,000 over 24 months at an interest of 41.2% pa (fixed). Monthly repayments of £123.64. Total amount payable £2,967.43. Maximum APR: 79.9%.

Post Office Loans

Loan Amount

£1,000 - £25,000

Term

12 - 84 months

Representative APR

8.10%

About Post Office Loans

The personal loans offered by the post office come with legitimate interest rates and APRs. You can get the loan approved within 24 hours.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£12,000 per annum

Other Requirements

  1. Must be a UK resident for atleast 3 years
  2. Must have a good credit rating without a history of County Court Judgements or bankruptcy.

Representative example: If you borrow £4,000 over 36 months at a Representative rate of 8.1% APR and an annual interest rate of 8.1% (fixed), you would pay 36 monthly instalments of £125.00. The total charge for credit will be £500.09 and the total amount payable will be £4,500.09.

Tesco Bank Loans

Loan Amount

£1,000 - £35,000

Term

12 - 120 months

Representative APR

2.80%

About Tesco Bank Loans

You get an instant decision for personal loans from Tesco Bank. They also allow you to pay an additional amount with your EMI to close the loan earlier. However, they charge nominal fees if you pay off your loan faster.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident with past 3 years address history

Representative example: If you borrow £10,000 over 60 months at a Representative rate of 2.8% APR and an annual interest rate of 2.7647%, you would pay 60 monthly installments of £178.64. The total charge for credit will be £718.40 and the total amount payable will be 10,718.40.

Lending Stream Loans

Loan Amount

£50 - £1,500

Term

6 - 12 months

Representative APR

1333.00%

About Lending Stream Loans

Lending Stream Loans can be your perfect alternative to a payday loan with good APR and flexible tenure. They send cash to your bank at lightning speed if you are applying for a short-term loan and your application gets approved. They don’t base approval heavily on your credit history.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£400 per month

Other Requirements

  1. Must be a UK resident.

Representative example: At a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total. .

My Community Finance

Loan Amount

£1,500 - £25,000

Term

12 - 60 months

Representative APR

18.85%

About My Community Finance

My Community Finance offers community-backed personal loans. Their loans are quick and easy to get. Plus, you get access to the network of ethical lenders and credit unions.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£18,000 per annum

Other Requirements

  1. Must be a Permanent Resident of the UK (excludes NI, Channel Islands, Isle of Man)
  2. Loan available to Self Employed people and employed both.

Representative example: A loan of £6,000 to repay over 48 months. Representative APR rate of 18.85%. Each month you’ll pay: £173.64. Your total repayment over 48 months will be: £8,335.00. This includes £2,335.00 interest at 18.85% fixed and no fees.

The Money Platform Loans

Loan Amount

£250 - £1,000

Term

4 - 12 weeks

Representative APR

839.20%

About The Money Platform Loans

The Money Platform offers short-term personal loans at lower interest rates while providing total security and anonymity. Its loan application process is swift and user-friendly.

Eligibility Criteria

Minimum Age

20 years

Minimum Income

Not mentioned

Other Requirements

  1. You’ll need to confirm your identity
  2. Have a UK current account and a credit history
  3. Have a good track record of repaying debt
  4. Be a current UK resident
  5. Have 3 years of address history in the UK
  6. Be able to afford the loan

Representative example: A loan of £500 to repay over 6 weeks. Representative APR rate of 839.20%. You will be paying one payment to pay off your loan. Your total repayment after 6 weeks will be: £647. This includes £147 interest at 255.5% per annum.

Wagme Loans

Loan Amount

£1,000 - £5,000

Term

1 - 18 months

Representative APR

49.90%

About Wagme Loans

Wagme Loans offer flexible repayment and process your loan online within minutes. You get short-term loans starting from £50, £100, £250, £500 to £5,000, which is convenient when you need a small amount.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£600 per month

Other Requirements

  1. Must be a UK citizen
  2. Have a valid UK bank account
  3. Have a valid email address

Representative Example: Amount of credit: £1,200 for 18 months at £90.46 per month. Total amount repayable of £1,628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR

QuidMarket Loans

Loan Amount

£300 - £1,500

Term

3 - 6 months

Representative APR

1296.50%

About QuidMarket Loans

QuidMarket Loans offer short-term personal loans directly provided by the lender. These short-term loans are better than payday loans. They are easily manageable and are available to you for a longer tenure.

Eligibility Criteria

Minimum Age

23 years

Minimum Income

£1300 per month

Other Requirements

  1. Must be a UK resident
  2. You should be in either full time or part time employment

Representative example: Borrow £300 for 3 months / Interest payable £154.37 / Total amount payable: £454.37 in 3 instalments / 3 payments of £151.46 / Representative 1296.5% APR / Interest rate 292% per annum (fixed) / Maximum APR 1625.5%

Oplo Personal Loans

Loan Amount

£2,000 - £15,000

Term

24 - 72 months

Representative APR

31.60%

About Oplo Personal Loans

Oplo Personal Loans are available for any type of expense. They also offer home loans. This platform believes in investing in a person’s prospects rather than history.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a permanent UK resident
  2. You must be a homeowner to get this loan
  3. Must be in permanent paid employment
  4. Must not be currently bankrupt or in an IVA or debt management arrangement

Representative example: If you borrow £6,541 over 46 months at a Representative rate of 31.6% APR and an annual interest rate of 14.16% (fixed), you would pay 45 monthly instalments of £232.64 and one final payment of £232.50. The total charge for credit will be £2,423.71 and the total amount payable will be £10,701.30 with an acceptance fee of £395.

CashFloat Loans

Loan Amount

£300 - £2,500

Term

3 - 9 months

Representative APR

611.74%

About CashFloat Loans

CashFlot Loans provide other types of loans like payday loans and personal loans. They are one of the UK’s top direct lenders of unsecured credit. Their financial solutions are fast, simple, and flexible.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident
  2. Have a valid UK bank account

Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments £224.60, last monthly repayment of £112.20. Total repayment £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Daily interest is capped at 0.793%. Rates between 295.58% APR and a maximum APR of 1294%.

DotDot Loans

Loan Amount

£100 - £1,000

Term

3 - 9 months

Representative APR

824.70%

About DotDot Loans

Dotdot Loans try to support less than perfect credit scores as much as possible. They work 24/7 to approve loans fast and don’t charge any hidden costs. Their UK-based customer service team is super-efficient.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK citizen
  2. Have a valid UK bank account with debit card details
  3. Have a valid email address and mobile number

Representative example: Borrow £250 over 6 months with monthly repayment of £81.41. Total amount payable £488.46. Interest rate 248.19% p.a. (fixed). 824.7% APR Representative.

Drafty Loans

Loan Amount

£50 - £3,000

Term

Renewable credit line

Representative APR

89.70%

About Drafty Loans

Drafty Loans are the line of credit direct lenders. They don’t charge a fee to process your loan and support your profile even with bad credit. A pre-approved loan from them won’t affect your credit score at all.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£1250 per month

Other Requirements

  1. Must be a UK resident
  2. Have a valid UK bank account with debit card details

Representative example: Representative 89.7% APR. Based on drawing your full approved credit limit of £1200 and repaying in 12 monthly payments at an Annual Interest Rate of 65.7%(Fixed). Total repayable is £1,627.05.

Fair Finance Loans

Loan Amount

£400 - £1,000

Term

6 - 12 months

Representative APR

302.03%

About Fair Finance Loans

Fair Finance has a bouquet of financial solutions, including business funding, payment gateway solutions, risk management consultation, investment guidance, crypto consultation, loan assistance, etc.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

Not mentioned

Other Requirements

  1. Available to new immigrants and customers with no credit history in the UK.
  2. Available to customers who have bad credit history.

Representative example: Borrow £500 over 12 months. Total repayment including interest and fees is £952.56. Monthly instalments of £76.88 and a one off 6% administration fee of £30. Interest (fixed) is 249% per year with a representative 302.03% APR.

Fast Loan UK

Loan Amount

£50 - £2,000

Term

1 - 8 months

Representative APR

766.18%

About Fast Loan UK

Fast Loan UK is a financial institution that provides swift loans to fulfil daily requirements. They offer flexible repayment tenure and provide complete support during the loan processing.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident
  2. Have a valid UK bank account with debit card details
  3. Be in either Full-time, Part-time or Self-employment

Representative example: If you borrow £500.00 over 16 weeks at a Representative rate of 766.18% APR and an annual interest rate of 151.4% (fixed), you would pay 4 monthly installments of £183.59. The total charge for credit will be £234.36 and the total amount payable will be £734.36.

Fintern Loans

Loan Amount

£1,000 - £7,500

Term

12 - 36 months

Representative APR

18.80%

About Fintern Loans

Fintern offers personal loans at the lowest interest rates based on the analysis of your financial situation. They keep track of the kind of EMI and repayment term you can afford and design customised solutions for you.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must not have unresolved defaults or CCJs

Representative Example: If you borrow £2,000 over 36 months at a Representative rate of 18.8% APR and an annual interest rate of 18.8% p.a. (variable), you would pay 36 monthly instalments of £71.66. The total charge for credit will be £579.56 and the total amount payable will be £2,579.56.

Koyo Loans

Loan Amount

£1,500 - £12,000

Term

6 - 60 months

Representative APR

24.90%

About Koyo Loans

Koyo Loans take more into consideration than just your credit score. They also look at your bank data and prospects to decide upon your eligibility for the loan. Their personal loan calculator helps you determine the tentative interest rate for your loan.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a permanent resident of the UK for at least 6 months
  2. Must not be bankrupt
  3. Must not have CCJs or history of bad credit

Representative example: If you borrow £4,000 over 36 months, at 24.9% Representative APR and an Interest rate of 22.44% pa (fixed), you would repay 35 monthly payments of £154.24 and a final payment of £153.91. The Cost of Credit would be £1,546.36. Total amount payable £5,546.36

Virgin Money Loans

Loan Amount

£7,500 - £15,000

Term

12 - 84 months

Representative APR

2.90%

About Virgin Money Loans

Awarded as the best personal loan provider 2020 by Moneyfacts, Virgin Money Loans sends money to your account within 2 hours or maximum by the end of the next day after approval. Their application process is simple, and interest rates are fixed.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

Not mentioned

Other Requirements

  1. You must have a Virgin Money current account or be a Clydesdale Bank, Yorkshire Bank or B customer.
  2. Must be a UK resident

Representative example: If you borrow £7,500 over 60 months, at 2.9% Representative APR and an Interest rate of 2.9% pa (fixed), you would repay 60 monthly payments of £134.32. The Cost of Credit would be £559.01. Total amount payable £8,059.01.

M & S Bank Personal Loans

Loan Amount

£1,000 - £25,000

Term

12 - 84 months

Representative APR

2.80%

About Fintern Loans

Personal loans by M & S Bank are easy to manage as they come with fixed monthly repayments over a specified period. They check your eligibility within seconds to help you make your decision faster.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£10,000 per annum

Other Requirements

  1. Must be a UK resident

Representative example: If you borrow £75,000 over 60 months, at 2.8% Representative APR and an Interest rate of 2.8% pa (fixed), you would repay 60 monthly payments of £133.98. The Cost of Credit would be £538.80. Total amount payable £8,038.80.

Metro Bank Loans

Loan Amount

£1,000 - £35,000

Term

12 - 60 months

Representative APR

4.90%

About Metro Bank Loans

Metro Bank Loans are low-rate personal loans. RateSetter is their exclusive partner for online personal loans. Their interest rates and fees are generally legitimate and depend on your credit profile.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£16,000 per annum

Other Requirements

  1. Must be a UK resident for a minimum of three years.
  2. You should have a good credit history, with no County Court judgements, bankruptcies or debt relief orders on your credit file.
  3. You should not have not missed any regular payments in the last 12 months.

Representative example: If you took out a loan of £10,000 over five years at a fixed interest rate of 2.3% per year (4.9% APR representative), your monthly repayment would be £187.94 and your total repayment amount would be £11,276.40. This includes a fee of £638.

Sainsbury's Personal Loans

Loan Amount

£7,500 - £25,000

Term

12 - 84 months

Representative APR

3.40%

About Sainsbury's Personal Loans

Sainsbury’s Personal Loans offer loans with low APR and flexible repayment terms. They don’t charge an application fee but process your loan with speed and accuracy.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£7,500 per annum

Other Requirements

  1. If you are self employed, you can borrow up to £25,000, up to 5 years.
  2. You cannot apply if you are a resident of: the Isle of Man, Channel Islands (Jersey, Guernsey, Alderney, Sark, Herm, Jethou, Brecqhou and Lihou) and the Republic of Ireland.

Representative example: You could borrow £10,000 over 60 months with 60 monthly repayments of £181.24. The total amount repayable will be £10,874.40. Representative 3.4% APR, annual interest rate (fixed) 3.4%.

TSB Bank Loans

Loan Amount

£1,000 - £25,000

Term

12 - 84 months

Representative APR

9.90%

About TSB Bank Loans

TSB Bank Loans process the application the same day but not without getting your approval on a personalised quote. They offer an exclusive facility to take a break from repayment. However, your overall interest will increase.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£10,200 per annum

Other Requirements

  1. Must be a UK resident
  2. You should have no bankruptcy or County Court Judgements within the last 5 years
  3. You should be employed or retired with a pension

Representative example: If you borrow £5,000 over 5 years at a Representative APR of 9.9% and an annual rate of 9.52% (fixed) you would pay £105.06 per month. Total charge for credit will be £1,303.60. Total amount repayable is £6,303.60.

NatWest Bank Loans

Loan Amount

£1,000 - £50,000

Term

12 - 120 months

Representative APR

3.40%

About NatWest Bank Loans

They offer attractive APR on personal loans of a higher amount. You can quickly get a quote from NatWest Bank before applying for a loan without disturbing your credit profile. Their borrowing terms are friendly and affordable.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You must be a UK resident with a NatWest current account (held for 3+ months).
  2. You have not been declared bankrupt in the last 6 years
  3. You have not applied for a personal loan with us within the last 28 days

Representative example: If you borrow £10,000 over 5 years at a Representative APR of 3.4% and an annual rate of 3.4% (fixed) you would pay £181.25 per month. Total charge for credit will be £875. Total amount repayable is £10,875.00.

Halifax Bank Loans

Loan Amount

£7,500 - £25,000

Term

12 - 60 months

Representative APR

3.90%

About Halifax Bank Loans

Halifax Bank Loans are here to help you if you are 18+ and a UK citizen. Of course, there are other criteria you need to fulfil to get a loan, but they’ve certainly made it easier for an eligible candidate to get a personal loan.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You live in the UK (excluding the Channel Islands and the Isle of Man)
  2. You’re not a full–time student
  3. You haven’t had a request for credit declined in the past month
  4. You don’t have a history of bad credit, such as bankruptcy or CCJs

Representative example: If you borrow £10,000 over 48 months at a Representative rate of 3.9% APR and an annual interest rate of 3.83% (fixed) you would pay 48 monthly repayments of £225.04. The total charge for credit will be £801.92 and the total amount payable will be £10,801.92

Barclays Bank Loans

Loan Amount

£1,000 - £50,000

Term

24 - 60 months

Representative APR

7.90%

About Barclays Bank Loans

Barclays offers a provisional loan limit even before you borrow if you have a current account with them. You can check how much you are eligible for on their website. Their approval is based on the applicant’s credit history, application credentials, and financial circumstances.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You must have a Barclays current account or Barclaycard account.
  2. You must be a UK resident.

Representative example: If you borrow £10,000 over 60 months at a representative rate of 7.9% APR and an annual interest rate of 7.9% (fixed), you would pay 60 monthly instalments of £200.99. The total charge for credit will be £2,059.40 and the total amount payable will be £12,059.40.

Lloyds Bank Loans

Loan Amount

£1,000 - £50,000

Term

12 - 84 months

Representative APR

4.40%

About Lloyds Bank Loans

Apart from the chance to check your loan eligibility without affecting your credit score, Lloyds Bank also allow you to choose your repayment term and loan amount.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You must be a UK resident (excluding the Channel Islands and the Isle of Man).
  2. You have held a Lloyds Bank current account for at least one month.
  3. You must be in paid employment or have a regular income, and are not a full-time student.
  4. You have a good credit score, with no history of bad credit, such as County Court Judgements (CCJs) or bankruptcy.

Representative example: You could borrow £10,000 over 48 months with 48 monthly repayments of £227.20. Total amount repayable will be £10,905.60. Representative 4.4% APR, annual interest rate (fixed) 4.31%.

Tappily Loans

Loan Amount

upto £2,500

Term

Renewable credit line

Representative APR

49.70%

About Tappily Loans

Here, you get a revolving line of credit up to £2500. After passing the affordability checks, you can borrow this amount whenever you need it. You can pay the minimum amount every month if you can’t pay more.

Eligibility Criteria

Minimum Age

Not mentioned

Minimum Income

Not mentioned

Other Requirements

  1. You need a registered UK bank account with an Internet Banking service in your name.

Representative example: You could borrow £700 over 75 days with. Representative 49.7% APR, annual interest rate (variable) 25.5%.

Selfy Loans

Loan Amount

£1,000 - £15,000

Term

24 - 60 months

Representative APR

99.90%

About Selfy Loans

Selfy Loans are here to help budding enterprises to realise their dream. They offer exclusive credit facilities to self-employed, sub-contracting professionals. They also try to revive your bad credit situation and not deny a loan based on that.

Eligibility Criteria

Minimum Age

21 years

Minimum Income

£10,000 per annum

Other Requirements

  1. Must be a UK resident.
  2. Must not be furloughed or on sick leave.
  3. You might need to visit nearest Everyday Loans branch to complete your application.

Representative example: If you borrow £3.000 over 24 months at a Representative rate of 99.9% APR and an annual interest rate of 71.3% (fixed), you would pay 24 monthly installments of £238. The total charge for credit will be £2,706 and the total amount payable will be £5,706

Morses Club

Loan Amount

£300 - £1,000

Term

35 - 52 weeks

Representative APR

498.34%

About Morses Club

Morses offer cash loans from £300 to £1000. You can check which amount you are eligible for online. They are open in their communication with no hidden fees and allow easy management of your loan.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. Must be a UK resident
  2. Have not not have been declared bankrupt, applied for a sequestration, had a Debt Relief Order on an Individual Voluntary Agreement in the last 6 years.

Representative Example: £300 loan repayable over 35 weeks at £15 per week, Rate of interest 111.4% p.a fixed; Representative 498.34% APR, Total amount payable is £525

Salad Money

Loan Amount

£300 - £1,000

Term

12 - 18 months

Representative APR

69.90%

About Salad Money

Salad Money delivers affordable personal loans to NHS workers and public sector employees. It’s a social sector organisation that protects the NHS workers from high-interest credits such as payday loans.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

£1,100

Other Requirements

  1. Only available to key workers in secure employment
  2. Must have been employed with the same organization for 3 months+.

Representative Example: Representative APR 69.9%. Based on a loan of £1,000 over 17 months at an interest of 54.19% p.a. (fixed). 17 monthly repayments of £82.64 and a final repayment of £26.09. Total amount payable £1,430.97. Maximum APR: 69.9%.

1Plus1 Guarantor Loans

Loan Amount

£1,000 - £10,000

Term

12 - 60 months

Representative APR

47.80%

About 1Plus1 Guarantor Loans

You get a guarantor loan with a bad credit rating as well if you match the affordability criteria and get a creditworthy guarantor. 1Plus1 loans are perfect for supporting you when your credit ratings are messed up, but you need money.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You will need to provide a Guarantor with a good credit history
  2.  You and your guarantor must be UK resident.

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

Evolution Money Secured Loans

Loan Amount

£5,000 - £100,000

Term

12 - 240 months

Representative APR

23.51%

About Evolution Money Secured Loans

You get a guarantor loan with a bad credit rating as well if you match the affordability criteria and get a creditworthy guarantor. 1Plus1 loans are perfect for supporting you when your credit ratings are messed up, but you need money.

Eligibility Criteria

Minimum Age

18 years

Minimum Income

Not mentioned

Other Requirements

  1. You must be a Homeowner to get this loan.
  2. It is a Secured Loan, secured against your property.

Representative Example: Loan Amount: £20,000.00, Loan Term: 144 Months, Interest Rate: 19.56% PA (variable), Monthly Repayments: £385.68, Total Amount Repayable: £55,538.36. This example includes a Product fee of £2,000.00 (10% of the loan amount) and a Lending fee of £699.00.

Can't find what you need? We can help you find the best personal loan for you.

FAQs

Here are the answers to some frequently asked questions regarding personal loans, interest rates and APR.

A personal loan interest rate is the percentage of the principal amount borrowers must pay to the lender to get the loan. In other words, interest rate is an amount the lender charges from the borrower based on the loan amount.

APR stands for Annual Interest Rate, which is the actual yearly cost of any loan. It is represented in percentage and includes the interest rate and fees the borrower pays on the loan each year, as well as the other charges applicable on your loan each year. Its full form is the Annual Percentage Rate. Since it combines additional charges with the interest rate, it’s higher than the interest rate of the personal loan.

APR depends on the interest rate of personal loans, which varies because of multiple factors. However, for a loan amount of more than £5000, the good APR can be below 8%. For a £2000-£5000 loan amount, the APR rate below 12% can be considered fair. For loans below £2000, the APR up to 15% is a reasonable APR.

Personal loan interest rates range start from 6% and go up to 36%. It depends upon multiple factors such as the borrower’s credit score, past association with the lender, affordability, etc. The loan amount and repayment tenure also play a vital role in deciding personal loan interest rates. So it’s hard to mention a generic acceptable interest rate or APR for personal loans.

You may need to take a personal loan for various purposes. Some examples of personal loans are short-term personal loans, vacation loans, consumer durable loans, home renovation loans, wedding loans, agriculture loans, overdraft loans, debt consolidation loans, etc.

The creditor on your profile runs a soft search to know your eligibility for the loan. This review decides how high the chances of your loan application getting cleared are. The good thing is that the soft search doesn’t leave a trace on your credit history. Therefore there is no fear of credit score getting affected due to loan rejection.

Sometimes lenders may run a background check on you to test your eligibility for the loan. It’s a pre-approved loan when they like what they see and decide to lend you money. It’s not a guarantee of a loan disbursal until the complete check is done. But pre-approved loans certainly mean that your chances of getting a loan are bright. With such an excellent credit history, you will likely get the personal loan at the lowest rate.

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