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Compare loans for £10,000

Find the right loan for you

  • Searching won’t harm your credit score
  • See your chances of being accepted
  • A small step towards Money Calm

Compare loans

Taking out a loan could be the right choice for you if you need help financially for a specific reason – whether that’s buying a new car, making some home improvements or dealing with existing debt.

MoneySuperMarket helps find the right loan for you, and our eligibility checker shows you your chance of being accepted for loans as well as the guaranteed rate. This way you can weigh up the facts and decide which deal to go for.

MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders.

You must be 18 or over and a UK resident.

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Is a £10,000 loan the best option for me?

A loan may be the right amount for you – it can help you pay for things like weddings, new vehicles, a home extension, or even to manage existing debts.

In fact more than four in five searches for £10,000 loans on MoneySuperMarket were for one of the following:

Any kind of borrowing carries a risk of building up debts if you can’t repay what you owe – so be certain a loan is what you need before applying. It can help to know how much you’ll be able to repay each month, so you should understand exactly how much your loan will cost.

*MoneySuperMarket data based on loans for £10,000 searched for between January and June 2020, accurate as of September 2020.

How much will a £10,000 loan cost?

There are two key factors that affect how much your loan will cost: the loan term length, and your interest rate.

You’ll be able to specify how long you want to borrow over when you make your application, but your interest rate will be set by your lender according to your credit score

Although a loan over a longer term does mean lower monthly repayments, you’ll pay more in interest overall – so the loan will be more expensive in the long run.

Loan amount Loan term Interest rate Monthly repayments Total repaid Loan cost
£10,000 Three year 2.80% £289.78 £10,431.95 £431.95
£10,000 Three year 6.50% £305.64 £11,003.19 £1,003.19
£10,000 Five year 2.80% £178.64 £10,718.59 £718.59
£10,000 Five year 6.50% £194.79 £11,687.50 £1,687.50

These rates were chosen for illustration purposes and are not based on any products available with MoneySuperMarket.

Calculations were made using MoneySuperMarket’s loan calculator.

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How long will it take to repay the loan?

You’ll be able to choose how long you want to borrow the £10k over, so you should pick a term length for which you’ll be able to afford the monthly payments – you may face extra charges for making late payments.

Over 50% of people who searched for a £10,000 loan with MoneySuperMarket looked to borrow over five years, compared with just 17% who looked for a term lasting three years and 1% who wanted to borrow over one year.* 

*MoneySuperMarket data based on loans for £10,000 searched for between January and June 2020, accurate as of September 2020.

Can I get a £10,000 loan with bad credit?

When you take out a loan it will usually be one of two types:

  • Personal loan

    Also known as an unsecured loan, you borrow £10,000 over a set period of time, making monthly repayments including interest until it is all paid off. Personal loans don’t usually let you borrow more than £25,000 as there is no collateral for the lender – unlike with a secured loan.

  • A secured loan

    With a secured loan you offer up an asset as security. This will often be your home, which is why these are also referred to as homeowner loans. Secured loans usually let you borrow more than a personal loan – however you should only borrow what you know you’ll be able to pay back, as if you can’t make your repayments you could lose your asset to the lender.

Can I get a £10,000 loan with bad credit?

You might find it more difficult to find a £10,000 loan if you have bad credit, and you’re also likely to pay a higher interest rate. This is because a poor credit history indicates a higher financial risk to the lender, so they’ll be less willing to accept that risk.

If you have bad credit, you’re more likely to get a £10,000 loan if it’s secured to an asset, such as your home or car – this gives the lender a reassurance that they’ll be able to recoup their losses if you aren’t able to pay it off.

Our Credit Monitor tool can help you understand your financial position, so you can see how you can improve your credit score and earn better terms in the future.

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How to compare loans with MoneySuperMarket

Find the right £10k loan for you and see which rates you’ll be guaranteed to get:

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Tell us about yourself

We need a little information about
your and your finances – select
£10,000 as your loan amount

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We’ll check for loans

We’ll browse the market for loans
from a wide range of lenders
across the market

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Choose your loan

You’ll be able to sort loans by the
overall cost and the likelihood you’ll
be accepted

With a pre-approved loan, the deal you see is the deal you get

When you apply for a loan, it’s not always clear what deal you’ll be offered or whether you’ll be accepted. But when you’re pre-approved for a loan, you know the deal you see is the deal you’ll get – you’ll know where you stand, with information that will help you make the right choice.

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Apply with confidence

When you’re pre-approved, the
loan amount, duration and interest
rate are all confirmed

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Tailored to you

When you know what you’ll be able to
borrow and how much it will cost, you
can choose a loan that’s right for you

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You’re in safe hands

This helps protect your credit score as
you’re less likely to be rejected when
you apply

MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders. We never take a fee from customers for this broking service. Instead we are usually paid a fee by the lenders – though the size of that payment doesn’t affect how we show products to customers.

APR stands for annual percentage rate, and it basically means the interest rate at which you’ll pay back the £10,000. It includes the main interest rate of the loan, but also takes any other fees and charges into account so you get a better picture of the loan’s total cost.

When you see a representative APR advertised on a loan, it means this rate must be offered to at least 51% of applicants – you won’t be guaranteed to get this rate yourself, as this will be based on your personal circumstances.

If you apply for a £10k loan and you’re unsuccessful, it will probably have a negative impact on your credit score – which could make it harder to take out a loan or line of credit in the future. There are steps you can take to improve your credit rating, giving you a better chance of being accepted when you do next apply for a loan.

A soft search is how we find out where you stand in terms of getting a loan without affecting your credit report, so you can 
find a loan you’ll be eligible for without damaging your chances of being successful when you apply.

If you miss a repayment on your loan, you risk having to pay a late fee – but you may also lose any low- or zero-interest incentives you have. Your interest rate could even go up for future repayments.

A repayment holiday is when you agree with your lender that you don’t need to make your repayments for a set period of time – which can be useful if you’ve had a change in circumstances. For example, you might benefit from a payment holiday during times of unemployment, maternity or other surprise expenditures. 

You will normally be able to pay all of part of your loan off early, but it may involve an early repayment charge.

If you think you might struggle to make your loan repayments you should contact your lender as soon as possible. 

They may be able to help you figure out an alternative payment plan if you do, but if you don’t you could be penalised for missing your repayments.

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

  • Take control of your credit score by checking and improving it for free with Credit Monitor
  • Never overpay again with Energy Monitor, our energy monitoring service
  • Over 50 ways to Get Money Calm

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.