We make it easy for you to find the best loan rates by comparing deals from UK lenders.
Finding the right fixed rate loan for you means deciding what type you need, so let's have a closer look at your options:
With a UK personal or unsecured loan you can usually borrow up to £25,000 over a period of 1-10 years. Private loans don't require you to secure property against them, but the rate you pay will depend on your personal circumstances and the amount you borrow: loans for £7,500 to £15,000 tend to come with the lowest APR.
Cheap personal loans are about more than just a low interest rate. You can tailor the amount you borrow and the repayment term, so the monthly payments are set at a level you can afford.
Secured loans are generally guaranteed against your home so the lender is able to recover their costs if you don't repay them.
They allow you to borrow more than unsecured loans and over a longer term. This can make them more expensive in the long run, so it's extra important to make sure you research and compare all of your options.
You also need to understand that there is a risk you could lose your home if you fell far enough behind on your payments.
Guarantor loans offer a chance to borrow money over a term of a year or more to people struggling to get credit elsewhere.
You'll need a guarantor: someone to back you up and agree to repay the loan if you fail to. They're often secured loans, meaning your guarantor will have to be a homeowner with enough equity in their property.
A specialist car loan can sometimes offer a cheaper interest rate than a finance plan from a car dealership.
The loans are often secured on your car, meaning it could be repossessed if you fall behind on your payments.
Payday loans are short term unsecured loans designed to keep you going until you're paid.
However, they come with very high interest rates and fees if you miss payments or roll the loan over, so you should always look into your other options before taking out a payday loan.
Instalment loans are similar to payday loans: they're quick, available to those with bad credit and they come with high interest rates.
However, they're repaid over a longer period rather than at the end of the month, meaning you can end up paying much more than you borrowed.
Logbook loans are a type of secured loan where you use your car as collateral. They can be used for any purpose, not just for buying a new car.
Although they're often available to those with bad credit, they can be very expensive and you can even run the risk of losing your car if you can't keep up with the repayments.
Social lending / p2p loans
Peer to peer loan companies arrange loans between customers who want to borrow money and those who want to make a return by lending money.
Generally the loans are "pooled" and spread between many lenders, so a £10000 loan, for example, would be funded by several people, not just one. In theory, you can get a better interest rate than you might from a mainstream bank or building society but this isn't always the case.
Usually, the riskier you look as a borrower, the higher the interest rate you'll have to pay.
Bridging loans are short term, secured loans that you can use to pay for a big purchase until you've found a long-term solution. They're quick to arrange and can last from one day to two years.
Their uses include quickly buying a house until you can sell your current property or obtain a mortgage, funding a business until it's profitable and completing a building project.
Business loans can give your company a cash boost to help it start out or expand.
There are lots of different options available including secured, unsecured, bad credit and even peer to peer business loans. The best one for you will depend on how much you need, your assets and the nature of your business.
How to choose the best loan deal for you
We have guides on each type of loan that explain how they work, who they'll suit and how to make sure you find the best one.
They also outline the risks of the most expensive loans, so it's absolutely vital you read these and consider your other options if you're thinking of taking out a payday or logbook loan.
You can then use our comparison tables to find the specific loan that's cheapest and most manageable for your circumstances.
Our loan calculator works out how much a loan could cost you per month and in total.
It's also worth checking reviews via product pages to make sure your chosen lender's customer service is up to scratch. You'll then be perfectly placed to find the best personal loan rates around.