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10 year loans
Find the right 10 year loan for you
MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident.
What is a 10 year loan?
A 10 year loan is exactly what it says it is. A personal loan with the cost spread over a decade.
The idea of a long term loan is to keep monthly payments lower and manageable, possibly with lower interest rates, compared with two year or five year loans.
While you will pay more interest compared, and therefore incur a greater loan repayment, then with a shorter loan, the affordability is what makes it much more appealing.
How does it work?
Compare loan options: MoneySuperMarket allows you to compare interest rates (APR), monthly repayment, fees, early repayment charges, and terms and conditions.
Apply for the loan: Submit an application with your personal details, including income, employment status, and loan purpose. You'll also need to provide supporting documents (e.g. payslips, bank statements, ID).
Get approved and receive your money: Once your application has been approved, the lender will send the requested amount – usually within a few days – to your nominated bank account.
Pay back the loan: You make fixed monthly repayments across the agreed term of the loan. Payments usually include both interest and principal (except for interest-only loans). After 10 years, your loan should be fully repaid.
Use our handy loans calculator
Loan calculator
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.
Afford to borrow
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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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The maximum personal loan is £50,000
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.
What can I use a 10 year loan for?
You can use a 10 year loan for a whole variety of needs:
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To spread the cost of buying a car
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.
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To make home improvements
Planning home renovations? Whether it’s a new kitchen or a bathroom upgrade, a home improvement loan can help fund the cost of home improvements.
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To consolidate existing debts
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!).
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To pay for a holiday
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.
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To pay for a wedding
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.
How much can I borrow?
There’s no set limit on how much you can borrow on a 10 year loan – it all depends on your personal circumstances, such as your income, what monthly payment you can afford, your outgoings and your credit score.
Lenders will assess your ability to repay the loan and may offer an amount that's a multiple of your income, typically between four and five times.
To see how much you could borrow, try our simple loan calculator, and choose ‘What can I afford?’.
How quickly can I be approved for a 10 year loan?
Getting a 10-year loan, especially for a personal loan, can take varying amounts of time. While some lenders offer instant decisions and same-day funding for online applications, others require more time for paperwork and approvals.
Factors like your credit history and the loan type will influence the timeline.
Can I pay back a 10 year loan early?
Yes, you can pay back a 10 year loan early – but your lender may impose an early repayment charge. Be sure to read the terms and conditions before you sign up. You may be able to make regular overpayments up to certain amount.
Choose from a range of loan amounts
What are the pros and cons of a 10 year loan?
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Advantages
A 10 year loan spreads the cost of a big project over a long period, so it’s easier to deal with
It may mean you can borrow more money than you could over three or five years, with lower interest rates
Your monthly repayments will be lower than with a short-term loan
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Disadvantages
A 10-year loan is a long commitment and you could face big early repayment charges if you try to pay it off too soon
It could be harder to get approved for a long term loan if you don’t have a high credit score
You’ll pay more interest overall than on a shorter loan since you’re borrowing the money for longer
Why compare 10 year loans with MoneySuperMarket?
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Filter and compare
We work with leading loan providers and you can compare a wide range of 10 year loans and see your chances of being accepted.
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Protect your credit score
Good news: when you compare loans with MoneySuperMarket, you don't have to worry about hurting your credit score as we'll only carry out a soft search.
Am I eligible for a 10 year loan?
To be considered for a long term loan, most lenders require that you are:
A UK resident
Over 18 years old
Have a regular income
But even then, your credit history will play a role in your acceptance and eventual deal.
Can I get a 10 year loan with a bad credit score?
You can get a 10 year loan with a bad credit score but you may pay a higher annual percentage rate. You won’t be able to borrow as much as someone with a better credit rating.
If you have bad credit, you should consider these types of loans:
Secured loans: When you put down a valuable asset as security for if you can’t repay the loan
Guarantor loans: A family member or friend acts as a guarantor and is liable to repay the debt if you can’t
Bad credit loans: Specialist lenders offer these loans to those with bad credit scores. Loan amounts will be smaller and interest rates will be higher with bad credit loans
Will base rate cuts make loans cheaper?
As of May 2025, the base rate stands at 4.25%, after the Bank of England voted for a quarter-point cut on 8th May. More cuts are predicted in the coming months, but they're generally predicted to be gradual and in small, quarter-point increments.
When the base rate is reduced, lenders often lower their Annual Percentage Rates (APRs) on loans, making borrowing more affordable. Whilst interest rates are still considerably higher compared to recent years, if more rate cuts are announced in the coming months then you could find that personal loans become slightly cheaper.
However, not all lenders adjust their rates at the same pace. Some may quickly pass on the savings to borrowers, while others may delay or make smaller adjustments. Therefore, it's important to compare 10 year loan offers from different lenders to ensure you benefit from the most competitive APRs in the market.
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Is a 10 year old loan a good choice for me?
Whether a 10-year loan is a good choice for you depends on your financial situation, goals, and ability to handle the payments. A 10-year loan typically comes with lower interest rates compared to longer-term loans and allows you to pay off your debt faster, saving money on interest over time.
However, the monthly payments are usually much higher, which could strain your budget if your income isn't stable or sufficient. If you have a steady income and want to become debt-free sooner, a 10-year loan can be a smart choice.
If you need more flexibility or lower monthly payments, a longer loan term might be better suited for your needs.
How to apply for a 10 year loan with MoneySuperMarket
We’ll do the hard work – just pick the deal you like best
What are the alternatives to a long term loan?
Not quite sure if a long term loan is right for you? Here are some alternatives to consider:
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Secured loans
A loan that is secured can enable you to borrow larger amounts, making them better for bigger and most costly home improvements. This is because the loan is secured against a valuable asset – usually your home. Rates are typically lower on secured loans but your home is at risk if you can’t repay.
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Credit cards
Find out more about credit cards for bad credit and compare deals here.
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Borrowing from friends or family
Can make borrowing more affordable, but can also strain relationships.
Our expert says…
Taking out a long-term loan over ten years helps you spread your repayments, which can make it easier to meet them alongside your other daily outgoings. But there’s a price to pay, in the respect that you’ll pay more overall than if you opted for a shorter term. And it’ll take longer to clear your debt too. For that reason, we recommend you make sure you only borrow what you need and use our handy loans calculator to work the overall cost.
Kara Gammell Personal Finance & Insurance Expert
Trusted Service Awards Winners
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.
Learn more about long term loans
Can I get a 10 year loan with no credit check?
No, When you apply for a 10 year loan, your provider will always run a credit check. It’s still possible to get a long term loan with bad credit, especially if you can secure it against your property, but your credit score will always be taken into account.
What details will I need to apply for a 10 year loan?
When you compare 10 year loans with MoneySuperMarket, we’ll just need some basic information from you – your name and address, your employment details, and your annual income. Searching and comparing loans with us won’t affect your credit score in any way.
But, once you’ve found the loan you want and you make a full application the loan provider will run a full credit check on you before it can accept you for a loan.
What happens if I miss repayments on a 10 year loan?
Talk to your lender – they should take steps to help you, for example pausing repayments for a few months while you get your finances in order (you’ll still be charged interest over this period while the total amount you owe won’t change) and fix your personal circumstances, or restructuring your loan. If you don’t let your lender know and you miss repayments you could be charged big fees and extra interest - and your credit score will be damaged.
What is the longest loan term I can get?
The longest length of a loan you can get will depend on the type and the provider you borrow from. The maximum amount of time for a personal loan is usually 10 years.
Here at MoneySuperMarket, you can compare a range of loans that go up to 25 years.
It’s important to remember that although a longer loan term will lower your repayments, you’ll end up paying more in interest overall.
Will my interest rate be fixed for the 10 year loan?
If you get a fixed rate loan, then the interest rate will remain the same for 10 years.
This can be helpful, as you’ll know exactly what you’ll be paying throughout the loan term. However, if you opt for a variable interest rate on your 10 year loan then the rates will change. With a variable interest rate, the rate will change according to the lender’s base rate.
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So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.
You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.
Lenders
Curious about who’s behind the loans? Take a look at each lender’s page below to learn more:
Reviewed on 8 Dec 2025 by
