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Take a look at our cheapest rates for each of the different loan amounts. Check your eligibility today or use our calculator below to see how much your monthly repayments might be.
Loan Amount | Representative APR* from | Eligibility Checker |
|---|---|---|
£3k - £3,999 | 9.9% (2-5 years) (Novuna Personal Finance) | |
£4k - £4,999 | 9.7% (2-5 years) (Novuna Personal Finance) | |
£5k - £7,499 | 7.1% (Santander) | |
£7,500 - £15k | 5.9% (1-7 years) (M&S Bank) | |
£15,001 - £20k | 5.9% (1-7 years) (M&S Bank) |
*Rates shown are Representative rates, which means that at least 51% of those accepted must get this rate but others can be charged more. Actual rate depends on individual financial circumstances.
Use our handy personal loan calculator tool to find out how much your monthly repayments could be, and how much you can afford to borrow
Find out what monthly repayments would be, how much you'll pay overall and how much you could borrow.
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Based on the information you supplied, you would be borrowing XXX and repaying the loan in XXX monthly instalments of . The total sum to repay, subject to XXX% APR over the full loan term would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
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Based on the information you supplied, you could borrow XXX at a monthly repayment rate of to be paid over XXX monthly instalments. Over the full loan term at XXX% APR, the total amount repayable would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
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If you need a larger amount, consider a secured loan, which will allow you to borrow more but uses your home as collateral. Be aware that lenders can sell your house if you fail to keep up with repayments.
Lower interest rates may make borrowing cheaper, so if you have any debt, it might be a good time to refinance at a lower rate to reduce your monthly payments and the total amount of interest you pay over the life of the loan. Hello
This is particularly beneficial for those with high-interest debt, as even a small reduction in the interest rate can lead to significant savings.
However, it's important to consider the long-term implications of taking on new debt or refinancing existing loans. While lower interest rates can provide immediate financial relief, it's crucial to ensure that you can comfortably manage your loan payments and avoid overextending yourself financially.
Kara Gammell Senior Editorial Strategy Lead/Brand Spokesperson
A loan is a way of borrowing money over an agreed period with interest.
Loans are usually unsecured, which means you’re not putting your valuable possessions, such as your home or car, up as security or collateral against the debt. But this limits how much you can borrow – typically up to about £25,000.
Secured loans, otherwise known as 'homeowner loans', require an asset as collateral and are often for much larger sums relative to personal loans - up to £500,000 from some lenders.
Your loan eligibility depends on several factors. Here's what lenders will typically take into account:
Your credit history and score: A higher credit score improves your chances. Check your credit report for errors and take steps to improve your score if needed.
Existing debts: Lenders assess how much debt you already have. Reducing your existing debt can increase your affordability.
Age and residency: You must be at least 18 years old and a UK resident.
Pre-eligibility checks: Use our soft search to see your chances of approval without affecting your credit score.
If you’re looking for more information about loans, you’ve come to the right place. We have many guides you can read to help you get to grips with loans.
An unsecured loan, or personal loan means you don't need to use something you own as collateral. Lenders use your financial history to decide if you qualify and how much you can borrow - it helps if you have a good credit score and have kept up with debt repayments before.
With a secured loan or homeowner loan, you put up an asset - usually a property that you own or pay the mortgage on - as security. If you don’t keep up with the repayments, the lender can seize the asset – meaning you could lose your home.
Guarantor loans are another option if you have poor or limited credit. They work like a regular loan, except that you need a guarantor when you apply. This is someone (normally a family member) who promises to make your repayments if you miss any.
A business loan can offer an affordable way to borrow funds to help you build your business. With a loan you can spread the repayments over a term that suits you and your business needs.
For even more loan stats, visit our dedicated loans statistics page.
for any loan taken out over £7,500, according to MoneySuperMarket data
excluding mortgages, according to Nimblefins
32% of people who take out a loan through MoneySuperMarket use it to buy a car. It’s not hard to see why they choose us.
With car loan representative rates from just 5.9%[3] you can trust us to help you get on the road with the ride of your choice.
Better still, our soft search won’t affect your credit score. And we’ll only show you loans you’ll be eligible for, so we won’t waste your time.
Think you'd prefer to finance your new car with a personal contract purchase (PCP) deal or Hire Purchase (HP) agreement? Our partner Motiv can help you find the right car finance deal for your needs.
According to MoneySuperMarket data from January 2025, the average APR for car loans ranging from £7,500 to £14,999 is 9.3%, with a 5-year term being the most common. Here's what that would cost:
Loan Details | £10,000 loan | £15,000 loan |
|---|---|---|
APR | 9.3% | 9.3% |
Monthly repayment | £207 | £311 |
Total interest paid | £2,433 | £3,650 |
Total repayment amount | £12,433 | £18,650 |
You can use a loan for a range of purposes, including:
Found your dream car but don’t have the savings to buy it outright? A loan can help you enjoy your new wheels by spreading the cost of the car into manageable repayments.
Looking to make renovations to your house? From a new kitchen to a new bathroom, a home improvement loan can help fund the cost of home improvements.
A bridging loan can help you to buy a new property before you sell your current home, by ‘bridging’ the gap between sale and completion.
Finding one low interest rate loan for all your debts can bring the ease of having just one payment to deal with instead of different cards and loans on the go (where it may be easy to lose track and miss payments!).
Whether your holiday is abroad or in the UK, a holiday loan can help towards the cost of your next adventure if you don’t have the savings to help out.
While a wedding may be the best day of your life, it can also be an expensive one! A wedding loan can help manage the cost of your big day and minimise money worries.
Securing a loan with a lower interest rate can save you money, but achieving this isn’t always quick or straightforward. Here are some practical ways to help make a loan more affordable:
Borrow over a longer period: Data from September 2024 shows that the average APR for a 1-year loan is 31.8%, compared to just 14.5% for a 5-year loan. While longer terms often come with lower APRs, remember that they also result in higher total interest payments over the life of the loan.
Improve your credit score: Enhancing your credit score can unlock better loan rates. Our MoneySuperMarket research indicates that registering on the electoral roll can boost your score by an average of 41 points. Additionally, correcting any errors on your credit report and paying bills on time are straightforward ways to improve your credit score.
Increase your income: While this isn’t always an immediate solution, our data shows that borrowers earning £30,000–£39,999 pay an average APR of 19.8%, compared to 22.9% for those earning £20,000–£29,999. If possible, taking on additional work or negotiating a pay rise can improve your chances of securing a better deal.
Compare loan providers: Shopping around and comparing loan options can help you find the most competitive rates. Our loan comparison can provide a clear overview of available deals tailored to your needs and credit profile.
MoneySuperMarket data shows the average APR you can expect, and how this changes between the different loan purposes. There are also a number of other factors which determines the APR you will get, such as your income and loan amount.
Loan Purpose | Average APR |
|---|---|
Car Loan | 9.5% |
Home Improvement Loan | 12.3% |
Debt Consolidation Loan | 15.9% |
Wedding Loan | 17.5% |
We’ll reward you every time you make a purchase. Exchange your earnings for a gift card for Amazon.co.uk[5], Sainsbury’s & more
Get a 12-month pass to 1000s of attractions, including London Zoo, Go Ape, Gravity Active, English Heritage and more. Worth £180[6]. App users only
Whether you're buying clothing, homewares or takeaways, earn up to 10%[7]cashback from brands like Just Eat, eBay & Argos.
You and your friends each get up to £20 when they join the Club and make a qualifying purchase. Win-Win!
Many people use loans to pay for important life events and essential big-ticket expenses such as home improvements, a wedding or financing a car purchase, but before you apply for a loan, ask yourself:
Do I need it? If you’re using the loan to pay for something that’s not urgent, such as an expensive gift, then maybe consider if a loan is necessary
Can I afford the repayments? You must pay back your loan, which will be the loan amount plus the interest rate. You can use our loan calculator to get a rough idea of how much the loan will cost you.
Will I keep up with the repayments? If you’re unable to keep up or make late repayments, you’ll damage your credit score which will make it harder to borrow in the future
At the time of writing (June 2025), the Bank of England base rate stands at 4.25%, after the MPC opted for a quarter-point cut on 8th May 2025.
The future direction of rates is uncertain. But it's widely expected that we could be in for further small cuts at some stage this year, after the Office for National Statistics' Consumer Prices Index showed that inflation tapered to 2.5% in December 2024.
However, right now rates are still significantly higher than they were just a few years ago and will likely stay that way in the near term.
Higher interest rates make it more expensive to borrow but shopping around, considering specialist lenders, and improving your credit rating can all make the final loan rate cheaper.
Avoid borrowing money without thinking carefully whether you need it, and whether the cost of the loan is worth what you’re taking it out for.
For example, it’s probably not a good idea to take a loan out for everyday purchases – a credit card might be more suitable.
Work out how much you can afford to borrow and pay back before applying for a loan. This way you can look for loans in your borrowing range, giving yourself the best chance of being accepted as well as ensuring you don’t take on a financial commitment that you can’t afford – try our loan calculator for guidance.
If you're on a variable rate deal, repayments can change whenever the lender decides to change it – often lenders will use the Bank of England base rate as a guideline. While this means that your repayments could be less if the base rate falls, they could also go up if the rate rises, so consider if interest rate fluctuations are worth the risk before taking out a variable rate loan.
Loan sharks should always be avoided – they’re illegal, not regulated by any financial organisations, and they generally charge massively high interest rates. What’s more, if you aren’t able to repay them you may be pressured into borrowing even more money, which could lead to a spiral of debt.
Payday loans may be legitimate, but they can come with incredibly high interest rates sometimes reaching over 1000% - which could make even a small loan turn into a debt spiral. Learn more with our guide to payday loans.
Every application you make, just like credit applications, leaves a mark on your credit report.
Too many of these will give lenders the impression that you are desperate to take out a loan, which could imply that you’re struggling to manage your finances – as a result, lenders may be more reluctant to let you borrow from them in the future.
Use our eligibility checker to run a soft search and find lenders with a higher chance of acceptance, including preapproved.
As part of the loan application process, potential lenders will perform a credit check. Bad credit doesn’t mean you won’t be able to get a loan, however, it will make it harder to be approved and you may end up with a worse rate.
If you can, consult your credit report and take short-term steps to boost your credit score like registering to vote or addressing errors on your credit file.
Improving your credit rating can help you secure better loan rates and boost your chances of pre-approval.
If you're borrowing smaller amounts of money and can't dip into your savings, you might be better off with a credit card or an arranged overdraft.
To clear credit card balances, consider a balance transfer credit card.
To make a large purchase, consider a 0% interest credit card.
To clear an unarranged overdraft, consider a money transfer credit card.
To tide you over til next month, consider an arranged overdraft with your current account provider, or switch to an account with overdraft facilities.
A personal loan gives you access to cash at fairly short notice, with a fixed interest rate and fixed monthly payment
A loan can help you fund big-ticket purchases and spread your payments
Personal loans are generally a cheaper way to borrow than credit cards and other forms of credit
As long as you make your payments on time and in full, a personal loan can be a good way of building your credit rating
As with all forms of credit, if you miss repayments you can incur hefty fees
Taking out a loan can make it tempting to overspend and rack up debt
You may be able to get a credit card with a 0% introductory period instead, which would save you money
The amount you borrow depends on what you're using the loan for - here's what MoneySuperMarket customers borrow, on average, for anything from financing home improvement to taking out a car loan.
Yes, you can get a loan if you have a bad credit score. There are specialist lenders who specialise in lending money to people with low credit ratings. Having a low credit score doesn't mean you can’t get a loan; however, your options will be more limited than someone with a good credit rating.
Representative 23.3% APR
Because different agencies might have different information on you, or use different scoring criteria, Equifax might give you a higher proportional credit score than TransUnion. Each agency has a different range.
Credit score | TransUnion | Experian | Equifax |
|---|---|---|---|
Very Poor to Poor | 0 - 565 | 0 - 720 | 0 - 438 |
Fair | 566 - 603 | 721 - 880 | 439 - 530 |
Good | 604 - 627 | 881 - 960 | 531 - 670 |
We’re here to help find the right loan for you, so we’ll tell you which rates you’re guaranteed to get.
Tell us a little about yourself, your finances and the loan you want
We’ll search through loans from a wide range of lenders on the market
You’ll be able to sort loans by the overall cost and the likelihood you’ll be accepted
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
We’re aware that some fraudsters are trying to use the MoneySuperMarket brand to trick consumers into handing over money or financial details, by offering fake loans with eye-catching interest rates.
The best way to stop these scams is to report them.
If you think you’ve been contacted by a fraudster, please stop all communication with them and report it to Action Fraud.
If it’s someone impersonating MoneySuperMarket, please contact our customer services team
If you're asked to pay an up-front fee for a loan - it's likely to be a scam
Check out our tips on how to keep you and your family safe from scams.
SuperSaveClub is our rewards club exclusively for MoneySuperMarket customers – you can find out more about SuperSaveClub here.
When you take out a loan from a selected lender, you’ll be eligible for SuperSaveClub rewards. At the moment, not all lenders are part of our rewards programme. When you search for a loan with us, you’ll be able to see which lenders are part of the programme, as the loans that come with a SuperSaveClub reward will be highlighted in your results.
The lenders who are currently signed up to SuperSaveClub are:
118 118 Money
Abound
Admiral
Asda
Bamboo
Bank of Scotland car finance
Be Savvi
Churchill
Everyday Loans
Finio
Fluro
Halifax car finance
Halifax loans
Hastings Direct
John Lewis Finance
Lendable
Lloyds bank car finance
MBNA
MCF
Monzo
Novuna (SSC only)
Oakbrook
Plata
Reevo
Santander
Shawbrook
Zopa
When applying for a loan, you’ll need to provide personal details such as your name, contact details and address. You’ll also have to let the lender know your employment status and your income. You will also be asked what you need the loan for and how much you’re looking to borrow. You should expect to be asked about any debts and assets you have as well as if you’re a homeowner.
The length of your loan can vary depending on the type of loan you take out and the provider you choose, but it could be anywhere between a year and ten years. Taking out a loan for a longer period of time may reduce your monthly payments, but you may end up paying more for the loan due to interest payments.
Different lenders and different types of loans will have varying requirements, but in general whether or not you qualify will depend on your personal details and your credit history. However you can always compare loans on MoneySuperMarket – all you need to do is answer a few questions about the loan you want to take out and you’ll be given a tailored list, which you can sort by interest rates and the likelihood of your application being accepted.
You can generally apply for loans by contacting the provider you choose – either by calling through the phone, sending an application form through the post, applying online, or dropping in to their branch (if they have one) to apply in person.
For many loans you’ll need a good credit history to be accepted, but some providers also offer loans designed for people with poor or no credit. For example, you can get guarantor loans where someone else will commit to make your repayments if you can’t.
A soft-search or soft-application is a way of finding out where you stand in terms of getting a loan without leaving a mark on your credit report. It’s a useful way of finding a loan you’ll be eligible for without harming your chances of being accepted.
Missing repayments can mean you might be fined by your lender, and it could also end any low or zero interest incentives you have. It may even lead to a hike in the interest rate you’ll make future repayments at.
APR, or your Annual Percentage Rate, is the interest rate at which you pay back money you’ve borrowed. It takes into account the actual interest rate you pay, plus any other fees or charges involved in the deal, to give you a more complete picture of what you loan will cost.
When you see a rate advertised as the representative APR, this means the lender is required to offer this rate to at least 51% of applicants – however it doesn’t mean you’re guaranteed to receive this interest rate yourself.
Representative 16.5% APR
Maximum APR 99%
A repayment holiday is when you don’t have to make any loan repayments for a certain period of time that you’ve agreed with your lender. They’re generally good for when you’ve had a temporary change of circumstances, such as unemployment, maternity, or unexpected expenditures.
You’ll normally be able to pay off all or part of your loan early, though some lenders may have an early payment charge.
When the interest rate increases, this can make it more expensive to borrow. When it comes to the loan you’ve taken out, if you’re on a variable interest rate then your APR will reflect your lender’s rate.
So, in short, if interest rates rise and you’re on a variable interest rate with your loan, your APR may go up. However, if you’ve taken out a fixed rate loan then the APR won’t rise when interest rates do.
Selected providers. SuperSaveClub restrictions and T&Cs apply. Click here for details.
Lowest representative APR for loans between £7.5k and £15k. Accurate as of May 30th 2025. Subject to credit status.
Lowest rep rate for loans between £7.5k and £15k
T&Cs and restrictions apply, see here for more information
T&Cs apply, click here for more information
Based on 1 visit per month – average ticket value £15.30 (Oct 24)
T&Cs and restrictions apply, see here for more information
Based on the average loan amount from enquirys made on MoneySuperMarket in May 2025 where the purpose of the loan was Home Improvement.
Based on the average loan amount from enquirys made on MoneySuperMarket in May 2025 where the purpose of the loan was Debt.
Based on the average loan amount from enquirys made on MoneySuperMarket in May 2025 where the purpose of the loan was Car.
Based on the average loan amount from enquirys made on MoneySuperMarket in May 2025 where the purpose of the loan was Holiday.
