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Personal loans
Compare our best personal loans.
Rates from 5.8%
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MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident
Our best personal loan rates
Check out our cheapest personal loan rates for each of the different loan amounts. Check your eligibility today or use the calculator below to see how much your monthly repayments might be.
Loan Amount | Representative APR* from | Eligibility Checker |
|---|---|---|
£3k - £3,999 | 9.9% (Novuna Personal Finance) | |
£4k - £4,999 | 9.7% (Novuna Personal Finance) | |
£5k - £6,999 | 6.9% (Santander) | |
£7k - £7,499 | 6.5% (People's Choice) | |
£7,500 - £15k | 5.8% (M&S Bank) | |
£15,001 - £20k | 5.8% (M&S Bank) |
What is a personal loan?
A personal loan is simply a way of borrowing money that you’re required to pay back over an agreed period with interest. Knowing where to get the cheapest deal can be difficult, so we’ll compare a broad range of personal loans from across the market to find the right fit for you.
Personal 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 – it’s typically up to about £25,000.
How do they work?
Application Process: You must provide personal and financial details such as income, expenses, and employment status. Lenders evaluate your creditworthiness using this information, along with your credit score, to determine if you qualify for the loan and at what interest rate.
Approval and Funds: Once approved, your lender will outline terms, including the interest rate and repayment schedule. You must review and sign this agreement. After signing, the funds are usually transferred directly to your bank account within a few days, giving you access to the money quickly.
Repayment Terms: Personal loans require fixed monthly repayments over an agreed term, usually between one and five years. It's important to make payments on time to avoid late fees or negatively affect your credit score. Early repayment options may also be available, sometimes with a fee.
How much does a personal loan cost?
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.
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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 loan for?
You can use a loan for a range of purposes, including:
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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 sell more quickly with a bridging loan
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.
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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.
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How to get approved for a personal loan
Boost your chances of being accepted by following these steps:
Make sure you're eligible
To apply for a loan in the UK, you typically need to:
be a UK resident (excluding the Channel Islands and the Isle of Man)
be 18 or over
Have a UK bank account
Have a regular source of income
Check your credit report for errors
Incorrect information can bring down your credit score, meaning:
you might not get approved, or if you are,
if you are approved, your rate will be worse
Always check your credit report for errors, or make simple changes (like registering to vote) to boost your chance of being accepted for a loan, and getting a preferential loan rate.
Just borrow what you need
Consider your needs - £25,000 sounds great, but if it's more than you need you'll end up paying back more over your loan term, or you might not get accepted altogether.
Consider if you've recently applied for credit elsewhere
Multiple applications for credit, such as mortgages, credit cards, or other loans will show up on your credit file, and lenders will consider if you've been declined for credit before or if you've recently applied for credit elsewhere.
Use our loan comparison tool to understand your chances of acceptance before you apply, and keep your application to one lender.
What will you use this money for?
How much do people borrow on average?
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.
What are the pros and cons of unsecured personal loans?
There are a range of pros and cons of unsecured personal loans to consider when you’re thinking about applying for a loan. Here’s a summary:
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Pros
Quick access to money: You’ll have the money within days of being approved – so you can make your purchase or consolidate your debts quickly
Flexible repayments: You can choose how long you need to pay back the debt, with terms that range from a few months to five years or longer
Rebuild your credit score: A personal loan can help to build your credit score if you make sure to meet your monthly repayments
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Cons
Higher interest rates: Interest rates on your repayments are often higher when a loan is not secured against collateral, making it more expensive overall
Hard to borrow with poor credit: If your credit score is low, or you’ve defaulted on other debts in the past, you might not be approved for an unsecured loan
Penalties if you default: There are big implications if you miss repayments or stop them altogether. This can include a negative impact on your credit file and legal action by lenders
Will base rate cuts make loans cheaper?
As of December 2025, the base rate stands at 4%, after the Bank of England voted for a quarter-point cut on 7th August, the third cut of the year.
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 personal loan offers from different lenders to ensure you benefit from the most competitive APRs in the market.
Can I get a personal loan with bad credit?
It’s possible to get an unsecured personal loan even if you have struggled with debts and your credit history is patchy, but it’s unlikely you’ll be offered the best deal.
There are a number of lenders who specialise in bad credit loans, but you may be asked to pay a higher interest rate or you won’t be able to borrow as much as you would like.
Get clued up on loans with our range of expert guides
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.
What are the alternatives to unsecured personal loans?
If you can't get a personal loan, or you want to try and get a lower interest rate, there are other finance options available.
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Secured loans
A secured loan lets you offer an expensive item like a house as security, but you stand to lose your asset if you can’t meet repayments
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Overdraft facility
If you need to borrow a temporary amount and can pay it back quickly, you could try to arrange an interest-free overdraft on your current account
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Credit cards
Interest-free credit cards can let you spread the cost of a larger purchase, whereas a balance transfer card or a money transfer card can help you consolidate debt or pay off high-interest borrowing like overdrafts.
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Guarantor loans
A guarantor loan can be an alternative if you’re struggling to get a credit card. With someone you trust backing your repayments, you may be able to borrow more or at a lower rate than you’d get on your own.
Your credit score plays a part in the deal you get
When you apply for a personal loan, the lender will use your credit rating to decide whether to accept you, and what rates to offer you.
Because a personal loan is unsecured against an asset, such as your home, you'll generally need a better credit rating than a secured loan. Find out where you stand with our free Credit Score tool.
Our expert says…
A loan can be a lifeline when you need to pay for something, such as a wedding, a new car or unexpected home repairs, but don't have a lump sum of money to hand. However, if you're looking for a loan right now, it's important to keep in mind that at the time of writing December 2025, interest rates are at 4%, which is higher than in recent years. For that reason, it’s vital to compare and shop around before committing to any new borrowing.
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.
How to compare personal loans with MoneySuperMarket
Find the right loan for you and see which rates you’ll be guaranteed to get.
How do I earn SuperSaveClub Rewards with a loan?
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
What details do I need to apply for a personal loan?
You won’t need many details to apply for an unsecured personal loan. You’ll typically be asked for proof of:
Identification, such as driving licence or passport
Address (for example on a recent utility bill)
Income (on your payslip).
A lender will then perform background checks on your credit history and let you know if you’re eligible.
Is car finance a personal loan?
While many personal loans are taken out to buy a car, car finance is a broad term used to explain the different ways you can purchase or lease a vehicle. For more information on financing a car, take a look at our guide on how car finance works.
Can I repay my personal loan early?
You can repay your unsecured personal loan early, but you might incur an early repayment charge. While you’ll save on interest repayments if you clear the debt, you should factor this against how much you’ll be penalised for paying off the loan ahead of schedule. Look out for early repayment charges before taking out a loan because your financial circumstances will invariably change over time.
Why a personal loan might work for you
Personal loans are useful if you need cash in the short-term to make a substantial purchase you might otherwise be unable to afford – or you don’t have the time to save up.
You have to be able to prove to the lender that you'll be able to meet your repayment responsibilities. If you're not sure you can make your monthly repayments, a personal loan may not be for you.
Should I get a loan or credit card?
An interest-free or low-interest credit card is an alternative to a personal loan, especially if you only want to borrow £1,000 or less.
People with a good credit rating can often find credit cards offering long periods interest-free, so if you always meet your minimum monthly repayments, a credit card will be a cheaper way to borrow money. If you need several thousand pounds, a personal loan may be a better bet – albeit more expensive. Our guide on credit cards vs loans explores this in more detail.
How much can I borrow?
The amount you’ll be eligible to borrow will depend on your personal circumstances and credit history, but it’s usually only up to £25,000 on an unsecured loan.
How long can I take a loan out for?
The length of your loan can vary depending on the type of loan and the provider you choose, but it could be anywhere between one and 10 years. Taking out a loan for a longer period of time may reduce your monthly repayments, but you’ll end up paying more in interest overall.
Do I need a good credit rating?
You’ll need a good credit score to be accepted for the most competitive loans with the lowest interest rate (APR), but some providers offer loans designed for people with poor or no credit. For example, you can get guarantor loans, in which someone else commits to make your repayments if you can’t.
What is a soft search?
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 way to find out if you’re eligible for a loan without harming your chances of being accepted.
What happens if I miss loan repayments?
Missing repayments can mean extra charges and interest from your lender, and it could also bring to an end any low-interest or zero-interest rate deals you have. You may also see your interest rate increase.
What is an APR?
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 rate you pay, plus any other fees or charges involved in the deal, to give you a more complete picture of what your loan will cost.
When you see a rate advertised as the representative APR, this means the provider is required to offer this rate to at least 51% of applicants – however it doesn’t mean you’re guaranteed to receive this yourself.
Can I get a personal loan with a low APR?
Whether you can get a personal loan with a low APR depends on a few factors such as your credit rating and affordability to meet repayments.
The better your credit score, the higher your chances of securing a lower APR, but ultimately it will be up to the lender to decide.
What if I can’t repay my loan?
If you’re worried you can’t meet your monthly loan repayments you should contact your lender to see whether they can help work out a solution.
This might include extending the loan term so you pay less each month or taking a payment holiday so you have a chance to repair your finances.
Other options include debt consolidation and seeking support from dedicated debt charities.
Read our guide on what to do if you’re struggling to repay your loan for more information.
Lenders
Curious about who’s behind the loans? Take a look at each lender’s page below to learn more:
Reviewed on 17 Dec 2025 by
Lowest representative APR for loans between £7.5k and £15k. Accurate as of December 8th 2025. Subject to credit status.
Selected providers. SuperSaveClub restrictions and T&Cs apply. Click here for details.
YouGov Survey 1st July 2024 to 30th June 2025. Net Recommend score derived from “Which of the following online service websites would you recommend to a friend or colleague, or tell them to avoid?” Base: Current Customers of (MoneySuperMarket n=18,382, Compare the Market n=16,802, Go.Compare n=10,162, Confused.com n=8,229, Uswitch n=528).
Selected providers. SuperSaveClub restrictions and T&Cs apply. Click here for details.
Based on the average loan amount from enquirys made on MoneySuperMarket in November 2025 where the purpose of the loan was Home Improvement.
Based on the average loan amount from enquirys made on MoneySuperMarket in November 2025 where the purpose of the loan was Debt.
Based on the average loan amount from enquirys made on MoneySuperMarket in November 2025 where the purpose of the loan was Car.
Based on the average loan amount from enquirys made on MoneySuperMarket in November 2025 where the purpose of the loan was Holiday.
Based on 1 visit per month – average ticket value £15.30 (Oct 24)
T&Cs and restrictions apply, see here for more information
T&Cs and restrictions apply, see here for more information
T&Cs apply, click here for more information