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Cheap personal loans
Borrow at 2.7% for £7.5k+
If you NEED to borrow, the cheapest loan rates are currently close to the lowest we've ever seen – though we're starting to see some rates ticking up. Our guide has full info on what to watch out for and the cheapest loans – though only ever borrow if you need to. Plus, our Loans Eligibility Calculator helps you find loans more likely to accept you.
Who's this guide for? This guide is for anyone considering taking out a loan.
Not what you want? Other related guides...
Cut existing loan costs | Balance transfer credit cards | Debt help

What is a personal loan?
Personal loans, also known as unsecured loans, are where you borrow a sum of money from a lender, and agree to pay it back over a set time period in fixed monthly repayments.
The lender will charge you interest as its fee to lend money to you, so you repay the amount you borrowed plus interest. The advantage is you get cash upfront, but can spread the cost of a purchase over several months or years.
This guide details the cheapest personal loans, but also addresses whether other finance options, like credit cards, might be cheaper for you. Plus, we've our clever Loans Eligibility Calculator, which can tell you which lenders are likely to accept you before you apply.
The seven need-to-knows
See which loans you've the best chance of getting, in your own personal best-buy table.
Usually, applying is the only way to know if you'll be accepted for a loan. Yet that marks your credit file, affecting your ability to get future credit. To help, our tool uses a 'soft search' to find your chances of acceptance before applying.
The calculator also now shows 'guaranteed' rates from some lenders, which often undercut the rep APRs in the tables below (where this is the case, we've included them for comparison).
Check your chance of acceptance
Best-buy personal loans

Not sure how much you can afford to borrow? Find out with our unique Personal Loan Calculator. Simply plug in the best-buy rates below and how much you can comfortably afford each month. It can also tell you how much a loan would cost you.
If you're looking for a loan, check out the best-buy rates below. We list loans by 'bands' as the rate you could get differs depending on how much you want to borrow.
As we warn above, while you should only borrow what you NEED, a peculiar quirk means you can sometimes pay less by getting a slightly bigger loan. Rates of loans under £3,000 are the most expensive, so always check if it's actually cheaper to borrow slightly more.
Specialist money transfer credit cards are also far cheaper than the loans below, if you can repay the full balance over 12-18 months.
Cheapest loans £1,000 - £1,999
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
Important. Specialist money transfer credit cards are far cheaper than the loans below. | ||
Barclays | 'From 5.9%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
Novuna Personal Finance | 9.9% rep APR (2-5 years) | Check eligibility |
Apply* | ||
AIB (NI) | 12.3% rep APR | Newbies must apply by phone (not in eligibility calc) |
M&S Bank | 12.9% rep APR (1-7 years) | Check eligibility |
Apply* | ||
AA | 13.4% rep APR (AA members) + claim a £30 voucher 13.5% rep APR (non-members) + claim a £30 voucher |
Check eligibility |
Apply* |
See all official APR examples.
Cheapest loans £2,000 - £2,999
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
Important. Specialist money transfer credit cards are far cheaper than the loans below. | ||
Barclays | 'From 5.9%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
Novuna Personal Finance | 9.9% rep APR (2-5 years) | Check eligibility |
Apply* | ||
Zopa | 'From 12.4%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
AIB (NI) | 12.3% rep APR | Newbies must apply by phone (not in eligibility calc) |
M&S Bank | 12.9% rep APR (1-7 years) |
Check eligibility |
Apply* |
See all official APR examples.
Cheapest loans £3,000 - £4,999
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
Important. Specialist money transfer credit cards are far cheaper than the loans below, provided you can get a credit limit big enough. | ||
Ratesetter | 'From 6.9%' (on £4,000-£4,999) Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
Finble | 8.1% rep APR (1-7 years) | Check eligibility (not available direct) |
M&S Bank | 8.1% rep APR (1-7 years) | Check eligibility |
Apply* | ||
AA | 8.1% rep APR (AA members) + claim a £30 voucher 8.2% rep APR (non-members) + claim a £30 voucher |
Check eligibility |
Apply* | ||
Novuna Personal Finance | 8.2% rep APR (2-5 years) | Check eligibility |
Apply* |
See all official APR examples.
Cheapest loans £5,000 - £7,499
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
M&S Bank | 3.7% rep APR | Check eligibility |
Apply* | ||
Novuna Personal Finance | 3.7% rep APR (2-5 years) | Check eligibility |
Apply* | ||
Sainsbury's Bank | 3.7% rep APR (Nectar cardholders) 3.8% rep APR (1-3 years) |
Check eligibility |
Apply* | ||
Cahoot | 3.8% rep APR | Check eligibility |
Apply* | ||
RateSetter | 'From 3.9%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
See all official APR examples.
Cheapest loans £7,500 - £15,000
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
Finble | 2.7% rep APR (1-7 years) | Check eligibility (not available direct) |
RateSetter | 'From 2.8%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
M&S Bank | 2.8% rep APR | Check eligibility |
Apply* | ||
Cahoot | 2.9% rep APR | Check eligibility |
Apply* | ||
Santander | 3.1% rep APR | Check eligibility |
Apply | ||
AA | 3.1% rep APR (AA members, 1-7 years) + claim a £30 voucher 3.2% rep APR (non-members, 1-7 years) + claim a £30 voucher |
Check eligibility |
Apply* |
See all official APR examples.
Cheapest loans £15,001 - £20,000
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
RateSetter | 'From 2.7%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
Finble | 2.8% rep APR (1-7 years) | Check eligibility (not available direct) |
Cahoot | 2.9% rep APR | Check eligibility |
Apply* | ||
AA | 2.9% rep APR (AA members, 1-7 years) + claim a £30 voucher 3% rep APR (non-members, 1-7 years) + claim a £30 voucher |
Check eligibility |
Apply* | ||
Post Office | 3% rep APR (1-7 years) | Check eligibility |
Apply* |
See all official APR examples.
Cheapest loans £20,001 - £25,000
LENDER | RATE (1-5 years or stated) |
CHECK ELIGIBILITY + APPLY |
---|---|---|
RateSetter | 'From 2.8%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility (apply via eligibility link) |
Finble | 2.8% rep APR (1-7 years) | Check eligibility (not available direct) |
AA | 3.1% rep APR (AA members, 1-7 years) + claim a £30 voucher 3.2% rep APR (non-members, 1-7 years) + claim a £30 voucher |
Check eligibility |
Apply* | ||
Post Office | 3.2% rep APR (1-7 years) | Check eligibility |
Apply* | ||
Tesco | 3.2% rep APR | Check eligibility |
Apply* |
See all official APR examples.
Important. Certain lenders offer personal loans up to £50,000, though it's a huge commitment, so think very carefully before getting such a large amount. Be VERY sure you can repay it.
If you do plan to borrow, first check with your own bank, as cheap rates for such large borrowing are often for existing customers only. If your bank can't help, next look at the cheapest open market rates.
Cheapest loans over £25,000
LENDER | RATE (1-5 years or stated) |
APPLY |
---|---|---|
You need to be an existing customer to qualify for these loans | ||
First Direct |
£25k-£30k: 3.3% rep APR (1-8 years) | Apply (not in our eligibility calculator) |
£30k-£50k: 6.7% rep APR (1-8 years) | ||
NatWest/RBS/Ulster Bank | £25k-£35k: 5.6% rep APR (2-8 years) |
Check eligibility (NatWest and RBS) |
£35k-£50k: 6.9% rep APR (1-8 years) | Apply to NatWest*, RBS* or Ulster Bank | |
The top open market loans | ||
RateSetter | £25k-£30k: 'from 2.8%' Use our eligibility calc to check if you can get these personalised, 'guaranteed' rates |
Check eligibility |
Sainsbury's Bank | £25k-£40k: 5.7% rep APR (2-5 years), 6.2% rep APR (6-7 years) Must have a Nectar card, not open to anyone self-employed |
Check eligibility |
Apply* | ||
Novuna Personal Finance | £25k-£35k: 5.9% rep APR (4-5 years) | Check eligibility |
Apply* | ||
Tesco Bank | £25k-£35k: 6% rep APR (1-3 years), 6.6% rep APR (4-5 years), 7.9% rep APR (6-7 years) | Check eligibility |
Apply* | ||
Finble | £25k-£35k: 6.3% rep APR (1-7 years) | Check eligibility (not available direct) |
See all official APR examples.
If the above doesn't work, you could combine smaller personal loans or remortgage, though that usually means extending the term, more interest and securing the debt on your home.
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Want to complain about your loan provider?
If your loan provider has charged you the wrong amount, taken the wrong amount in payment, or its service has been atrocious, then you don't have to suffer in silence. It's always worth trying to call your lender first to see if it can help, but if it can't (or won't), or it doesn't get back to you...
Personal Loans Q&A

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Clever ways to calculate your finances