This comparison includes unsecured loans that can be repaid over at least 4 months.
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Sainsbury's Bank Personal Loan Med (1-5Yrs) Non-Nectar
Loan Amount
£7,500 to £15,000
Representative APR
3.7% APR
(£7,500 to £15,000)
Loan Term
1 year to 5 years
Joint Application
yes
Representative Example: The Representative APR is 3.7% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 3.7% p.a. (fixed) you will repay £224.18 per month & £10,760.64 in total.
Tesco Bank Personal Loan
Loan Amount
£1,000 to £25,000
Representative APR
3.8% APR
(£7,500 to £15,000)
Loan Term
1 year to 10 years
Joint Application
yes
Representative Example: The Representative APR is 3.8% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 3.8% p.a. (fixed) you will repay £224.60 per month & £10,780.80 in total.
Zopa Personal Loan
Loan Amount
£1,000 to £25,000
Representative APR
3.8% APR
(£7,500 to £15,000)
Loan Term
1 year to 5 years
Joint Application
no
You must be at least 20 years old, with an annual income of at least £12,000 & have a good credit history / no CCJ's.
Representative Example: The Representative APR is 3.8% so if you borrow £10,000 over 3 years at a rate of 3.3% p.a. (fixed) you will repay £294.06 per month & £10,080 in total. This includes £506.19 interest and a £80 fee.
Hitachi Personal Loan
Loan Amount
£2,500 to £25,000
Representative APR
3.8% APR
(£7,500 to £10,000)
Loan Term
2 years to 5 years
Joint Application
no
Representative Example: The Representative APR is 3.8% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 3.8% p.a. (fixed) you will repay £224.61 per month & £10,781.28 in total.
Nationwide Personal Loan
Loan Amount
£1,000 to £25,000
Representative APR
3.9% APR
(£7,500 to £14,999)
Loan Term
1 year to 5 years
Joint Application
yes
Get a commitment-free quote and get an instant decision online. No hidden fees or set-up charges. A lower loan rate available for existing current account customers.
Representative Example: The Representative APR is 3.9% APR (fixed) so if you borrow £10,000 over 5 years at a rate of 3.9% p.a. (fixed) you will repay £183.41 per month & £11,004.60 in total.
Santander Personal Loan Ex/C (Internet)
Loan Amount
£1,000 to £20,000
Representative APR
4.2% APR
(£7,500 to £20,000)
Loan Term
1 year to 5 years
Joint Application
yes
Available to existing customers only.
Representative Example: The Representative APR is 4.2% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 4.2% p.a. (fixed) you will repay £226.33 per month & £10,863.84 in total.
Sainsbury's Bank Personal Loan Small >=£5K <£7.5K Non-Nectar
Loan Amount
£5,000 to £7,499
Representative APR
4.9% APR
(£5,000 to £7,499)
Loan Term
1 year to 5 years
Joint Application
yes
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £5,000 over 5 years at a rate of 4.9% p.a. (fixed) you will repay £93.88 per month & £5,632.80 in total.
Clydesdale Bank Personal Loan
Loan Amount
£1,000 to £25,000
Representative APR
4.9% APR
(£7,500 to £14,999)
Loan Term
1 year to 7 years
Joint Application
yes
Apply online and get an instant decision. Any purpose loans. You can repay your loan in full and part at any time and they'll reduce the total credit payable under the agreement. Rates available online, in branch and via telephone.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £12,500 over 4 years at a rate of 4.9% p.a. (fixed) you will repay £286.97 per month & £13,774.18 in total.
NatWest Personal Loan Ex/C
Loan Amount
£1,000 to £25,000
Representative APR
4.9% APR
(£7,500 to £14,999)
Loan Term
1 year to 7 years
Joint Application
yes
If you choose to repay your loan early, an early redemption charge of up to 58 days' interest will apply. Other loan amounts are available at alternative rates. Rates depend on circumstances and loan amount.
Available to existing customers only.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 4.9% p.a. (fixed) you will repay £229.36 per month & £11,009.28 in total.
RBS Personal Loan Ex/C
Loan Amount
£1,000 to £25,000
Representative APR
4.9% APR
(£7,500 to £14,999)
Loan Term
1 year to 7 years
Joint Application
yes
If you choose to repay your loan early, an early redemption charge of up to 58 days' interest will apply. Other loan amounts are available at alternative rates. Rates depend on circumstances and loan amount.
Available to existing customers only.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 4.9% p.a. (fixed) you will repay £229.36 per month & £11,009.28 in total.
TSB Personal Loan Ex/C
Loan Amount
£1,000 to £25,000
Representative APR
4.9% APR
(£7,500 to £19,999)
Loan Term
1 year to 5 years
Joint Application
yes
Available to existing customers only.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £10,000 over 4 years 7 months at a rate of 4.83% p.a. (fixed) you will repay £203.09 per month & £11,169.95 in total.
Yorkshire Bank Personal Loan
Loan Amount
£1,000 to £25,000
Representative APR
4.9% APR
(£7,500 to £14,999)
Loan Term
1 year to 7 years
Joint Application
yes
Apply online and get an instant decision. Any purpose loans. You can repay your loan in full and part at any time and they'll reduce the total credit payable under the agreement. Rates available online, in branch and via telephone.
Representative Example: The Representative APR is 4.9% APR (fixed) so if you borrow £12,500 over 4 years at a rate of 4.9% p.a. (fixed) you will repay £286.97 per month & £13,774.18 in total.
Lendable 5 Year Loan
Loan Amount
£1,000 to £15,000
Representative APR
5% APR
(£1,000 to £15,000)
Loan Term
5 years
Joint Application
-
Online Application, instant decision & funds within 2 hrs. Repay early or overpay without charges. Rates fully personalized to circumstances.
Good credit rating required.
The Representative APR is 5% APR (fixed) so if you borrow £7500 over 60 months at a rate of 5% p.a. (fixed) you will repay £141.53 per month & £8,492.06 in total. An arrangement fee of 2% applies.
Sainsbury's Bank Personal Loan Med (5+Yrs) Non-Nectar
Loan Amount
£7,500 to £15,000
Representative APR
5.7% APR
(£7,500 to £15,000)
Loan Term
6 years to 7 years
Joint Application
yes
Representative Example: The Representative APR is 5.7% APR (fixed) so if you borrow £10,000 over 7 years at a rate of 5.7% p.a. (fixed) you will repay £143.97 per month & £12,093.48 in total.
Sainsbury's Bank Personal Loan Large Non-Nectar
Loan Amount
£15,001 to £25,000
Representative APR
5.9% APR
(£15,001 to £25,000)
Loan Term
2 years to 7 years
Joint Application
yes
Representative Example: The Representative APR is 5.9% APR (fixed) so if you borrow £20,000 over 7 years at a rate of 5.9% p.a. (fixed) you will repay £289.74 per month & £24,338.16 in total.
Ulster Bank Personal Loan Ex/C
Loan Amount
£1,000 to £25,000
Representative APR
6.4% APR
(£7,000 to £14,950)
Loan Term
1 year to 5 years
Joint Application
yes
Available to existing customers only.
Representative Example: The Representative APR is 6.4% APR (fixed) so if you borrow £7,500 over 5 years at a rate of 6.4% p.a. (fixed) you will repay £145.76 per month & £8,745.60 in total.
Sainsbury's Bank Personal Loan >£25K <=£35K Non Nectar
Loan Amount
£25,001 to £35,000
Representative APR
6.9% APR
(£25,001 to £35,000)
Loan Term
2 years to 5 years
Joint Application
yes
Representative Example: The Representative APR is 6.9% APR (fixed) so if you borrow £30,000 over 5 years at a rate of 6.9% p.a. (fixed) you will repay £589.67 per month & £35,380.20 in total.
Moneyway Plus Loan
Loan Amount
£3,000 to £15,000
Representative APR
7.9% APR
(£5,001 to £7,000)
Loan Term
1 year to 5 years
Joint Application
no
Representative Example: The Representative APR is 7.9% APR so if you borrow £7,000 over 18 months at a rate of 7.9% p.a. (fixed) you will repay £412.79 per month & £7,430.22 in total.
besavvi Personal Loan
Loan Amount
£2,000 to £10,000
Representative APR
11.4% APR
(£7,500 to £10,000)
Loan Term
2 years to 5 years
Joint Application
no
The Representative APR is 11.4% APR (fixed) so if you borrow £7,500 over 5 years at a rate of 11.4% p.a. (fixed) you will repay £162.50 per month & £9,750.00 in total.
Evolution Money Personal Loan
Loan Amount
£1,000 to £15,000
Representative APR
17.6% APR (variable)
(£1,000 to £15,000)
Loan Term
1 year to 10 years
Joint Application
yes
This is an unsecured loan, but you must be a homeowner to apply as it is designed for homeowners who would prefer not to secure a loan against their property.
Representative Example: The Representative APR is 17.6% APR (variable) so if you borrow £5,000 over 5 years at a rate of 12.7% p.a. (variable) you will repay £122.34 per month & £7,340.67 in total.

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How to Find the Best Long Term Loans

by NickC from money.co.uk

If you're looking for a long term loan to spread the cost of your borrowing you have a number of options, whether it's for an emergency or something you've planned for a while. Here's how to get the loan you need.

man outside working on laptop

Sometimes your monthly income just won't stretch far enough to cover an urgent expense or give you the extra cash you need. If this is the case then getting a long term loan might be the answer.

When comparing long term loans you're likely to find that there are two main types - secured and unsecured.

Which one you go for will depend on what exactly you need the cash for - so how do they differ?

Secured and unsecured loans: what's the difference?

An unsecured long term personal loan is one where you aren't asked to provide collateral in order to get the loan - though of course you do need to legally agree to pay it back.

In contrast, secured loans do require you to provide some sort of solid guarantee and collateral - typically your home - to ensure you repay the loan.

Why choose a secured loan?

The benefit of picking a secured loan is that you can generally borrow more cash and for longer. Providers are also more open about who they're willing to lend to, mainly because they already have your collateral as backup.

Why choose an unsecured loan?

You may want to opt for an unsecured loan if you don't want to run the risks associated with secured loans (you can lose your home if you default on your payments). Moreover unsecured loans can generally only be taken out for less time - meaning you pay them off quicker and pay less overall.

Compare long term loans online

When you make a long term loans comparison you'll notice minimum and maximum loan amounts can vary from company to company.

The maximum amount you can borrow with an unsecured loan may be less than the minimum amount you can get with a secured loan - so the amount of money you're after could determine which loan type you choose.

In terms of the longest available loans, these are generally secured - which you can repay for up to 25 years.

It's worth remembering that the amount of interest you'd pay for a loan over that amount of time could be considerably more than you would over a shorter period.

Some long term loans UK lenders will also penalise you if you want to pay off the loan more quickly - while others won't hit you with charges for faster payments.

So if you think you are likely to want to pay it off sooner to avoid paying more interest, compare long term loans direct lenders who allow early repayment.

Know how you much you want to borrow

If you take out long term loans with monthly repayments you want to avoid paying more than you have to - which might happen if you borrow more than you need in the first place. Try to work out exactly how much you need to borrow and stick to it so that you can avoid having to pay the loan back for longer.

You also need to consider that lenders may well have conditions in place that determine who they give cash to - if you don't match them you won't be able to get a long term loan.

These can include age limits, earning a certain amount or being a homeowner, so don't waste your time applying to ones where you don't fit the bill, as it may hurt your credit rating.

Repaying long term loans

You might think that spreading out payments for as long as possible will make it easier to repay the loan, but it could actually cost you a lot more than a shorter loan.

This is because the more months you have to pay it off for, the more times you'll get charged interest.

If you pay it off faster there'll be fewer instalments - meaning the company can charge you less interest.

Try to strike a balance between keeping your loan affordable and the total amount of time down to keep your overall costs as low as possible.

Remember that the representative annual percentage rate is exactly that - representative. When it comes to getting your loan it could be quite different to the advertised APR, so don't always take it at face value.

Our guide Personal loans - where to start has more information about what you should consider when it comes to APR and loan repayments.