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£20000 Loans

Compare great deals on £20k loans

  • See loans you’re pre-approved for before you apply


Compare loans from over 40 lenders, right across the market

We do the heavy lifting, so you don't have to. We work with leading providers to help you borrow the money you need.

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We're 100% independent, working only for our customers

Unlike some of our competitors, MoneySuperMarket is not owned by an insurance company. So we can offer the best value, with savings delivered straight to you.

By combining independence with our excellent technology, we can negotiate the best prices and the best value on products and services.

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Choose a £20,000 loan with MoneySuperMarket

If you want to fund a home renovation project or buy a new car taking out a loan can be a good option as it spreads the cost. 

Finding a £20,000 loan online with MoneySuperMarket is easy. We compare deals from leading UK lenders and we can quickly show you your chances of being accepted, all without harming your credit score.

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.  

How much will a £20,000 loan cost?

The cost of your £20,000 loan will depend on a range of things:

  • The interest rate or APR on your loan – this will be set by your lender and will be based on your individual circumstances and credit score

  • How long you borrow the money – you can specify this when you make your application

The longer the loan term the cheaper your monthly repayment – but you’ll pay more interest overall, so it will be more expensive. 

Use our loan calculator to work out the cost of a £20,000 loan. 

Example of costs of a £20,000 loan


2.8% over three years

2.8% over five years

4% over five years

Monthly repayments




Total cost of loan and credit




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. Data compiled by MoneySuperMarket and correct as of Jan 2022.

Can I get a £20,000 loan with bad credit?

If you’ve had debt problems in the past and you have a low credit score, it’s likely to be more difficult to get a £20,000 loan.

But you may be able to:

  • Borrow a smaller loan amount

  • Use specialist lenders who can offer bad credit loan deals

Expect to be offered higher interest rates if you have got a less than perfect credit history.

Aim to build your credit score by getting a free copy of your credit report and reading our hints and tips on how to improve your rating.

credit score illustration

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.

  • Apply with confidence

    When you’re pre-approved, theloan amount, duration and interestrate are all confirmed

  • Tailored to you

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

  • You’re in safe hands

    This helps protect your credit score asyou’re less likely to be rejected whenyou apply

How to apply for a £20000 loan with MoneySuperMarket

We’re here to help find the right loan for you, so we’ll tell you which rates you’re guaranteed to get.

  • It doesn’t take long

    Tell us a little about yourself, your finances and the loan you want

  • We’ll browse the market

    We’ll search through loans from a wide range of lenders on the market

  • Compare loans

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

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.

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.

For an unsecured personal loan of £20,000 you’re likely to need a strong credit score to be eligible. Other loan options could be available if your credit score is lower, such as secured loans, but you may not be able to borrow as much as £20,000. 

When you take out a secured loan you must put up a valuable asset, usually your home, as security against the debt. This means if you struggle to repay your home is at risk as the lender can force a sale of the property to recoup its losses. In contrast, with an unsecured loan you don’t need to put up any collateral or asset as security on your borrowing. Find out more about the differences between the two loan types in our guide to secured and unsecured loans.

You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.

  • Whip your credit score into shape with Credit Monitor

  • Super save over and over again with Energy Monitor

  • There are always more ways to save with MoneySuperMarket 

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.