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Personal loans

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personal loan 

  • Compare unsecured personal loan rates

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4.2 out of 5 2,601 reviews

MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident.

Compare loans from over 40 lenders, right across the market

We work with a wide range of providers. Including most of the big brands to help you borrow the money you need

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Introducing Novuna's 5.7% APR Representative loan!

  • 5.7% APR Representative for loans between £7,500 and £15,000 (available loan term of 2-5 years) with Novuna Personal Finance

  • Limited offer exclusively available through MoneySuperMarket Group. Offer ends 23 August, 2023 

  • UK residents aged 21+ with permanent paid employment or retired with a pension. Must have an income greater than £10,000. Rate will vary based on personal circumstance

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Why compare personal loans with MoneySuperMarket? 

  • It’s quick and easy

    Just tell us a little about yourself and how much you want to borrow. We’ll then search the market to bring you the results in seconds.

  • Compare at a glance

    We’ll show you the key information upfront such as the interest rate and monthly repayment amounts so you can easily compare loans.

  • We're highly rated

    Our loans service is highly rated. We currently have a 4.2/5 star rating on Feefo – our customers praise the ease of using our site and the super savings they’ve made.

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 best 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. 


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How do unsecured personal loans work?

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.

  • Pick and apply for your loan

    Decide on how much you want to borrow and over what period. The lender will then run a credit check and decide whether to approve your application. 

  • Receive the money

    Once approved, the money should hit your account within a few days. You can use it to make that car purchase, pay for home improvements or whatever you'd like.

  • Pay it back over time

    You’ll usually repay in monthly instalments across a period of between one and five years. You’ll pay back the amount borrowed plus the agreed interest.

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.

of our customers would buy again
based on 2,601 reviews

Pros: Very easy and straightforward to use. Cons: Nothing to improve.
Pros: Application was very quick with a fantastic rate that I may have missed out on had I gone to mainstream lenders Cons: N/A
Pros: Quick easy and accurate Cons: N/A

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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    • 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  

  • 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 

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, the loan amount, duration and interest rate are all confirmed

  • 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

  • You’re in safe hands

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

Can I get a personal loan with bad credit?

It’s possible to get an unsecured personal loan even if you’re struggled with debts in the past and you’ve got a low credit score, but it’s unlikely you’ll be offered the best deal. You may be asked to pay a higher interest rate or you won’t be able to borrow as much as you would like.

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How do I get the best personal loan deals?

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    Shop around

    Comparing deals from a range of lenders means more choice than going direct. We can do the hard work for you by searching across the market and show you your chances of being accepted for each loan. 

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    Check your credit score

    Make sure your credit score is as good as it can be by checking it regularly to spot and fix any errors that could mean your application is denied. You can also get tips on how to improve your score by signing up to our free credit monitor service. 

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    It can be cheaper to borrow more

    While you shouldn’t borrow what you can’t afford to pay back, you may find yourself paying a lower interest rate for a bigger loan. It’s worth checking to see whether borrowing a little more moves you into a lower APR bracket.  

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    Check the terms

    What if you miss any payments, need a payment holiday or want to pay off the loan early later down the line? Make sure the loan you’re offered suits your personal circumstances and any changes that could affect you in the future. 

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.

  • Secured loans

    A secured loan lets you offer an expensive item like a house or car as security. You might receive a better rate than with an unsecured loan, but if you do stop paying the loan back, you stand to lose your asset.

  • Overdraft facility

    If you only need to borrow a temporary amount and can pay it back quickly, arranging an interest-free overdraft on your current account might be the answer. Unless you're a student, most banks won't offer much more than £500, and you'll be expected not to stay in the red for long.

  • Credit cards

    If you only need to borrow a smaller sum for a shorter term, a credit card is an alternative to a personal loan. The best credit card deals offer 0% interest on borrowing for more than two years, while others offer 0% balance transfers for a fee, if you need to consolidate your debts.

  • Guarantor loans

    Don’t despair if your credit rating isn’t as good as you need it to be to take out an unsecured personal loan: there are options available. You might be able to find a secured loan with a higher rate of APR, or you could try a guarantor loan, where a friend or family member promises to pay your debt if you default.

Rebecca Goodman

Our expert says


A personal loan can be a great financial tool if you need a lump sum of money. This could be for consolidating existing debts, paying for a new car, or for home improvements. You generally don’t need to secure the loan against any existing assets, and you’ll be told from the start how much your monthly payments will cost and how much interest is being charged. Just remember that the personal loan market is competitive, so never stick with the first offer you’re given and take your time to compare all of the loans on offer before applying.

- Rebecca Goodman, Financial journalist

How to compare personal loans with MoneySuperMarket

Find the right loan for you and see which rates you’ll be 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

  • Choose your loan

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

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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 your 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 (September 2022)

Maximum APR 99%

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.

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.  

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.

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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.