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Personal loans
Compare our best personal loans.
Rates from 5.7%
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Our best personal loan rates - from 5.7%^
Our cheapest personal loan rates for each of the different loan amounts.
Loan Amount | Representative APR* from | Eligibility Checker |
|---|---|---|
£3k - £4,999 | 9.9% (Tesco Bank) | |
£5k - £7,500 | 6.9% (M&S Bank) | |
£7,500 - £15k | 5.7% (M&S Bank) | |
£15,001 - £20k | 5.7% (M&S Bank) |
Accurate on 18 May 2026
Our expert says…
Before applying for a personal loan, it’s worth checking your eligibility and reviewing your credit report for any errors that could affect your chances of approval.
Only borrow what you need, and avoid making multiple credit applications in a short space of time, as lenders may see this as a sign of financial pressure.
Using a comparison tool can help you understand your likelihood of acceptance before you apply, while helping you find a more competitive rate.
Kara Gammell Personal Finance & Insurance Expert
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How do personal loans work?
A personal loan lets you borrow a fixed amount and repay it in monthly instalments over an agreed term, usually between one and five years. Most loans are unsecured, meaning you won’t need to put up your home or car as collateral.
Lenders will assess your income, expenses and credit history to decide whether to approve your application and what rate to offer. If accepted, you’ll usually receive the funds within a few days. Comparing loans can help you find a more competitive rate and lower monthly repayments.
Pros and cons of unsecured personal loans
Pros | Cons |
|---|---|
✅ Quick access to funds | ❌ Higher interest rates |
How to compare personal loans
Find the right loan for you and see which rates you’ll be guaranteed to get.
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 pay for with a personal loan?
Personal loans can be used for a wide range of planned expenses, from buying a car to tying the knot.
Purpose | Average loan amount | Average APR |
|---|---|---|
£12794.91 | 9.5% | |
£4491.70 | 24.9% | |
£12689.74 | 12.9% | |
£9727.46 | 13.8% |
Alternatives to personal loans
If a personal loan isn’t right for you, there are other ways to borrow depending on your needs and credit history.
Secured loans may offer lower rates, but your home or another asset could be at risk if you miss repayments.
Interest-free overdrafts can help with short-term borrowing if you can repay quickly.
0% credit cards let you spread the cost of purchases or consolidate existing debt without paying interest for a set period.
Guarantor loans may help if you have a poor or limited credit history, as someone else (often a parent) agrees to cover your repayments if needed.
Learn more about personal loans
If you’re still weighing up your options, these guides can help you decide which option could be right for you.
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 18 May 2026 by
Lowest representative APR for loans between £7.5k and £15k. Accurate on 20 April 2026. Subject to credit status.
