Compare Low Interest Loans

Compare low interest loans from all the lenders currently offering low cost loan deals in the UK and find cheap interest loans that you can apply for in minutes. Our comparison of the best personal loan interest rates on offer makes it easy for you to access affordable borrowing by finding the cheapest low interest rate loans possible.
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 LoanRepresentative APRFor Loan AmountsTerm 
MinimumMaximumMinimumMaximum
Promoted Results
Zopa
Personal Loan
£1,000£20,0004.3%£7,500 to £15,000
2
years
5
years
Representative Example: The Representative APR is 4.3% so if you borrow £10,000 over 3 years at a rate of 4.3% p.a. (fixed) you will repay £296.42 per month & £10,671.12 in total.
You must be at least 23 years old, with an annual income of at least £16,000 & have a good credit history / no CCJ's.
Clydesdale Bank
Personal Loan
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
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.
Yorkshire Bank
Personal Loan
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
Tesco Bank
Personal Loan
£3,000£25,0004.5%£7,500 to £15,000
1
year
10
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.62 per month & £10,925.76 in total.
Hitachi Personal Finance
 
Personal Loan
£2,500£25,0004.5%£7,500 to £10,000
2
years
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Sainsbury's Bank
 
Standard Medium Loan (4-5 Yrs)
£7,500£15,0004.5%£7,500 to £15,000
4
years
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Different rates apply if you don't have a Nectar Card.
Santander
Internet Loan
£1,000£20,0004.5%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Derbyshire Building Society
 
Personal Loan
£5,000£20,0004.6%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.6% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.6% p.a. (fixed) you will repay £228.06 per month & £10,946.88 in total.
For a limited time, get 4.6% APR Representative for loans between £7,500 and £15,000.
AA
Loan
£3,000£25,0004.7%£7,500 to £15,000
2
years
5
years
Representative Example: The Representative APR is 4.7% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.7% p.a. (fixed) you will repay £228.49 per month & £10,967.52 in total.
One year term is available for loans under £5,000.
M&S Bank
Personal Loan (New Customers)
£1,000£25,0004.8%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.8% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.8% p.a. (fixed) you will repay £228.93 per month & £10,988.64 in total.
To apply for an M&S Personal Loan you have to be a UK resident aged 30 or over or a homeowner.
To apply for an M&S Loan, you must have an annual income of at least £10,000 and be aged 30 or over, or a homeowner aged 18 or over.
RBS
Internet Loan (Existing Customers)
£1,000£25,0004.9%£7,500 to £14,950
1
year
7
years
Representative Example: The Representative APR is 4.9% (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.
Available to existing customers only.
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.
Shawbrook Bank
Platinum Exclusive Secured Loan
£20,000£100,0005.0%
---
3
years
25
years
Representative Example: The Representative APR is 5% (variable) so if you borrow £20,000 over 10 years at a rate of 4.9% p.a. (variable) you will repay £211.15 per month & total amount payable £25,455.60.
You must be a homeowner to apply as this loan will be secured against your home.
Exclusively available when you get a quote through money.co.uk.
Sainsbury's Bank
 
Standard Small Loan (£5K-£7499) (4-5 Yrs)
£5,000£7,4995.7%£5,000 to £7,499
4
years
5
years
Representative Example: The Representative APR is 5.7% (fixed) so if you borrow £5,000 over 4 years at a rate of 5.7% p.a. (fixed) you will repay £116.41 per month & £5,587.68 in total.
Nationwide
Personal Loan
£7,500£25,0006.2%£7,500 to £14,999
1
year
5
years
Representative Example: The representative APR is 6.2% (fixed) so if you borrow £11,000 over 51 months at a rate of 6.2% p.a. (fixed) you will repay £245.04 per month & £12,497.04 in total.
Nemo Personal Finance
 
Nemo's cheapest Secured Loan
£40,000£200,000
6.2%
variable
---
3
years
25
years
Representative Example: The Representative APR is 6.2% (variable) so if you borrow £100000 over 25 years at a rate of 5.592% p.a. (variable) you will repay £644.38 per month & total amount payable £154,651.20.
You must be a homeowner to apply as this loan will be secured against your home.
NatWest
Personal Loan
£1,000£25,0006.4%£7,500 to £14,950
1
year
7
years
Representative Example: The Representative APR is 6.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 6.4% p.a. (fixed) you will repay £235.77 per month & £11,316.96 in total.
Available to existing customers only.
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.
Sainsbury's Bank
 
Standard Medium Loan (5+ Yrs)
£7,500£15,0006.5%£7,500 to £15,000
61
months
7
years
Representative Example: The Representative APR is 6.5% (fixed) so if you borrow £10,000 over 7 years at a rate of 6.5% p.a. (fixed) you will repay £147.60 per month & £12,398.40 in total.
Sainsbury's Bank
 
Standard Large Loan (5+ Yrs)
£15,001£25,0006.6%£15,001 to £25,000
61
months
7
years
Representative Example: The Representative APR is 6.6% (fixed) so if you borrow £20,000 over 7 years at a rate of 6.60% p.a. (fixed) you will repay £296.10 per month & £24,872.40 in total.
RateSetter
1 Year Loan
£1,000£25,0006.7%£5,000 to £14,999
1
year
23
months
Representative Example: The Representative APR is 6.7% (fixed) at a rate of 6.7% p.a. (fixed)Arrangement fee £115.75.
Quick and simple online process, approval within 24 hours. No early repayment charges and all fees are included in the APR. Need good credit history.
Prestige Finance
 
Super Sized Secured Loan from 6.5%
£100,000£2,500,000
6.86%
variable
---
3
years
25
years
Representative Example: The Representative APR is 6.86% (variable) so if you borrow £500000 over 20 years at a rate of 6.5% p.a. (variable) you will repay £3772.56 per month & total amount payable £905,414.40.
You must be a homeowner to apply as this loan will be secured against your home.
Moneyway
Plus Loan
£3,000£15,0007.5%£7,001 to £15,000
1
year
5
years
Representative Example: The Representative APR is 7.9% so if you borrow £7,000 over 3 years at a rate of 7.9% p.a. (fixed) you will repay £218.15 per month & £7,853.40 in total.
Prestige Finance
 
Super Sized Secured Loan from 7.5%
£100,000£2,500,000
7.84%
variable
---
3
years
25
years
Representative Example: The Representative APR is 7.84% (variable) so if you borrow £1000000 over 25 years at a rate of 7.5% p.a. (variable) you will repay £7434.21 per month & total amount payable £2,230,263.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Part of the Principality Building Society Group
£40,000£200,000
8.3%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.3% (variable) so if you borrow £50000 over 20 years at a rate of 7.008% p.a. (variable) you will repay £418.92 per month & total amount payable £100,540.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
£100,001£150,000
8.3%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.3% (variable) so if you borrow £150000 over 20 years at a rate of 7.5% p.a. (variable) you will repay £1254.15 per month & total amount payable £300,996.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 6.7% APR
£40,000£200,000
8.4%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.4% (variable) so if you borrow £40000 over 10 years at a rate of 6.54% p.a. (variable) you will repay £384.26 per month & total amount payable £46,111.20.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Prestige Finance most affordable secured loan
£10,000£100,000
8.47%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.47% (variable) so if you borrow £50000 over 15 years at a rate of 6.75% p.a. (variable) you will repay £482.28 per month & total amount payable £86,810.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
£150,001£200,000
8.5%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.5% (variable) so if you borrow £175000 over 20 years at a rate of 7.75% p.a. (variable) you will repay £1484.52 per month & total amount payable £356,284.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Low rate Secured Loan 8.75%
£200,000£500,000
8.5%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.5% (variable) so if you borrow £175000 over 20 years at a rate of 8.75% p.a. (variable) you will repay £1484.52 per month & total amount payable £356,284.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Low Rate secured loan from 7%
£7,500£39,999
8.9%
variable
---
3
years
25
years
Representative Example: The Representative APR is 8.9% (variable) so if you borrow £30000 over 15 years at a rate of 7.008% p.a. (variable) you will repay £296.76 per month & total amount payable £53,416.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Shawbrook Banks lowest standard rate
£20,000£100,000
9.2%
variable
---
3
years
25
years
Representative Example: The Representative APR is 9.2% (variable) so if you borrow £40000 over 15 years at a rate of 6.9% p.a. (variable) you will repay £402.23 per month & total amount payable £72,401.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
£100,001£150,000
9.2%
variable
---
3
years
25
years
Representative Example: The Representative APR is 9.2% (variable) so if you borrow £40000 over 15 years at a rate of 6.9% p.a. (variable) you will repay £402.23 per month & total amount payable £72,401.40.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Part of the One Savings Bank Group
£10,000£100,000
9.69%
variable
---
3
years
25
years
Representative Example: The Representative APR is 9.69% (variable) so if you borrow £40000 over 15 years at a rate of 7.5% p.a. (variable) you will repay £421.58 per month & total amount payable £74,253.60.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
£20,000£100,000
9.7%
variable
---
3
years
25
years
Representative Example: The Representative APR is 9.7% (variable) so if you borrow £50000 over 15 years at a rate of 7.7% p.a. (variable) you will repay £516.41 per month & total amount payable £92,953.80.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Super Sized Secured Loan from 9.4%
£100,000£2,500,000
9.87%
variable
---
3
years
25
years
Representative Example: The Representative APR is 9.87% (variable) so if you borrow £1500000 over 25 years at a rate of 9.4% p.a. (variable) you will repay £13053.29 per month & total amount payable £3,915,987.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 8.2% APR
£40,000£200,000
10%
variable
---
3
years
25
years
Representative Example: The Representative APR is 10% (variable) so if you borrow £40000 over 10 years at a rate of 7.944% p.a. (variable) you will repay £419.07 per month & total amount payable £50,288.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
New larger loan product
£75,000£20,000
10.5%
variable
---
3
years
25
years
Representative Example: The Representative APR is 10.5% (variable) so if you borrow £100000 over 25 years at a rate of 9.516% p.a. (variable) you will repay £909.8 per month & total amount payable £272,940.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
High LTV secured loan
£7,500£100,000
10.7%
variable
---
3
years
25
years
Representative Example: The Representative APR is 10.7% (variable) so if you borrow £40000 over 15 years at a rate of 8.592% p.a. (variable) you will repay £435.66 per month & total amount payable £78,418.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured loan at competitive rate
£7,500£39,999
10.9%
variable
---
3
years
25
years
Representative Example: The Representative APR is 10.9% (variable) so if you borrow £15000 over 10 years at a rate of 7.2% p.a. (variable) you will repay £201.27 per month & total amount payable £24,152.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 8.4% APR
£7,500£39,999
10.9%
variable
---
3
years
25
years
Representative Example: The Representative APR is 10.9% (variable) so if you borrow £15000 over 10 years at a rate of 8.124% p.a. (variable) you will repay £201.27 per month & total amount payable £24,152.40.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Secured loan for thoses with mild adverse credit
£10,000£100,000
11.48%
variable
---
3
years
25
years
Representative Example: The Representative APR is 11.48% (variable) so if you borrow £50000 over 15 years at a rate of 9.4% p.a. (variable) you will repay £565.82 per month & total amount payable £101,847.60.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
UK Cheapest Rate for BTL Secured Loans
£5,000£60,000
11.7%
variable
---
3
years
25
years
Representative Example: The Representative APR is 11.7% (variable) so if you borrow £40000 over 15 years at a rate of 9.85% p.a. (variable) you will repay £458.14 per month & total amount payable £82,465.20.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Step One Finance's cheapest secured loan
£7,500£50,000
11.7%
variable
---
5
years
20
years
Representative Example: The Representative APR is 11.7% (variable) so if you borrow £30000 over 15 years at a rate of 8.9% p.a. (variable) you will repay £342.78 per month & total amount payable £61,700.40.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Light Adverse Secured Loan
£5,000£80,000
11.8%
variable
---
3
years
25
years
Representative Example: The Representative APR is 11.8% (variable) so if you borrow £40000 over 15 years at a rate of 9.95% p.a. (variable) you will repay £460.77 per month & total amount payable £82,938.60.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 9.4% APR
£7,500£39,999
11.9%
variable
---
3
years
25
years
Representative Example: The Representative APR is 11.9% (variable) so if you borrow £15000 over 10 years at a rate of 9.048% p.a. (variable) you will repay £209.44 per month & total amount payable £25,132.80.
You must be a homeowner to apply as this loan will be secured against your home.
Full Results
Zopa
Personal Loan
£1,000£20,0004.3%£7,500 to £15,000
2
years
5
years
Representative Example: The Representative APR is 4.3% so if you borrow £10,000 over 3 years at a rate of 4.3% p.a. (fixed) you will repay £296.42 per month & £10,671.12 in total.
You must be at least 23 years old, with an annual income of at least £16,000 & have a good credit history / no CCJ's.
Clydesdale Bank
Personal Loan
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
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.
Yorkshire Bank
Personal Loan
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
Clydesdale Bank
Personal Loan (Ex/C)
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
Sainsbury's Bank
 
Standard Medium Loan (1-3 Yrs)
£7,500£15,0004.4%£7,500 to £15,000
1
year
3
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 2 years at a rate of 4.4% p.a. (fixed) you will repay £435.65 per month & £10,455.60 in total.
Yorkshire Bank
Personal Loan (Ex/C)
£1,000£25,0004.4%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.4% p.a. (fixed) you will repay £227.20 per month & £10,905.60 in total.
Available to existing customers only.
Tesco Bank
Personal Loan
£3,000£25,0004.5%£7,500 to £15,000
1
year
10
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.62 per month & £10,925.76 in total.
Hitachi Personal Finance
 
Personal Loan
£2,500£25,0004.5%£7,500 to £10,000
2
years
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Sainsbury's Bank
 
Standard Medium Loan (4-5 Yrs)
£7,500£15,0004.5%£7,500 to £15,000
4
years
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Different rates apply if you don't have a Nectar Card.
Santander
Internet Loan
£1,000£20,0004.5%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Hitachi Personal Finance
 
Car Loan
£2,500£25,0004.5%£7,500 to £10,000
2
years
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.50 per month & £10,920.00 in total.
Santander
Branch Loan (123 Customers)
£1,000£20,0004.5%£7,500 to £20,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Available to existing customers only.
Santander
Branch Loan (Standard)
£1,000£20,0004.5%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Santander
Telephone Loan (123 Customers)
£1,000£20,0004.5%£7,500 to £20,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Available to existing customers only.
Santander
Telephone Loan (Standard)
£1,000£20,0004.5%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Santander
Select Loan (Select Customers)
£1,000£25,0004.5%£7,500 to £25,000
1
year
5
years
Representative Example: The Representative APR is 4.5% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.5% p.a. (fixed) you will repay £227.63 per month & £10,926.24 in total.
Available to existing customers only.
Derbyshire Building Society
 
Personal Loan
£5,000£20,0004.6%£7,500 to £15,000
1
year
5
years
Representative Example: The Representative APR is 4.6% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.6% p.a. (fixed) you will repay £228.06 per month & £10,946.88 in total.
For a limited time, get 4.6% APR Representative for loans between £7,500 and £15,000.
AA
Member Loan
£3,000£25,0004.6%£7,500 to £15,000
2
years
5
years
Representative Example: The Representative APR is 4.6% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.6% p.a. (fixed) you will repay £228.06 per month & £10,946.88 in total.
Available to existing customers only.
One year term is available for loans under £5,000.
AA
Loan
£3,000£25,0004.7%£7,500 to £15,000
2
years
5
years
Representative Example: The Representative APR is 4.7% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.7% p.a. (fixed) you will repay £228.49 per month & £10,967.52 in total.
One year term is available for loans under £5,000.
M&S Bank
Personal Loan (Existing Customers)
£1,000£25,0004.7%£7,500 to £15,000
1
year
7
years
Representative Example: The Representative APR is 4.7% (fixed) so if you borrow £10,000 over 4 years at a rate of 4.7% p.a. (fixed) you will repay £228.49 per month & £10,967.52 in total.
Available to existing customers only.
To apply for an M&S Loan, you must have an annual income of at least £10,000 and be aged 30 or over, or a homeowner aged 18 or over.
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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

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How to Compare Low Interest Loans

We help you compare low interest personal loans so you can easily find the cheapest loan for your circumstances.

Pound Notes

Low interest rate loans can either be secured on your property, or unsecured, but they both tend to be available over periods of one to seven years - although some secured loans can be extended over a longer period.

The longer repayment period means lenders can offer significantly lower interest rates than those available on payday loans, and that whatever your timescale you should be able to find a low interest loan to meet your needs.

However, a number of factors beyond just your timescale will impact which loan is right for you.

So whether you're after low interest loans for bad credit, or want a low interest loan to pay off debt, you'll need to consider:

Secured or unsecured?

To be offered a secured loan you'll need to own a property or - in some cases - a car, that you'll need to put forward as a guarantee you'll repay.

If you default on the loan, your lender is allowed to reclaim your home or vehicle and sell it in order to recoup their losses; this protection means they're often the lowest interest loans available.

Unsecured loans don't require that surety so they're more accessible, more flexible and you're better protected as you don't have to give anything other than your word that you'll repay.

However, because of this their interest rates can sometimes be more costly, especially if you have an adverse credit history.

Whether you go for an unsecured or secured loan you'll generally come across fixed rate and variable rate options. If you choose a loan that offers variable interest rates you need to be away that the rate and your repayments could increase or (potentially) decrease during the loan term.

Fixed rate loans guarantee the rate of interest throughout the loan period so you pay back the same amount every month, over the full loan term.

Find out more in our guide: Can You Get an Unsecured Loan with Bad Credit?

What size loan do you need?

Decide how much you need to borrow and compare it against each lender's minimum and maximum loan limits. Exclude any lenders where you're proposed loan would be ineligible. 

While it can be tempting to borrow more than you really need to so as to give yourself a little 'play money' it's generally best to keep this to the minimum.

You'll need to pay interest on anything you borrow so the bigger your loan the more money you'll need to find to cover the cost.

How long will you need to pay it off?

Decide how long you want to take to pay off your loan and make sure any lender you consider getting a quote from can offer a loan to suit. 

Remember to arrange your repayments over the shortest period you can afford so that you don't end up paying more for your borrowing than you really need to. It's a good idea to work out how much you can afford per month and on that basis work out how long you need to extend the loan over - just make sure that you'd be able to afford the monthly repayment.

What's the interest rate?

The interest rate you're offered will be based on your credit history, whether the loan is secured or unsecured, and its proposed size and duration.

If you ask for a loan within lenders' minimum and maximum limits, you're more likely to be offered their average loan interest rate (headline APR).

That's fine if you've got a good credit history. On the other hand, if you're looking for low interest loans for bad credit it's worth searching for lenders that specialise in customers with bad credit.

Make sure you'd be eligible for their headline rates and use those rates to assess which loans with low interest rate might work out cheapest.

The terms and conditions

Once you've established what size loan you need and which loans with low interest are likely to work out cheapest, check their terms, conditions and flexibility.

For example, what (if any) are the charges for paying off the loan early, or extending your loan facility? You should always make sure you're happy with the terms of a loan before you apply.

Remember, applications for loans will show on your credit history whether you take out the loan or not, so it's best to do your research before you enquire. Also check what other borrowing options you might have: read our guide, What's the Cheapest Way to Borrow Money? for ideas.

If you narrow your low interest loans comparison down step by step, you can find the best interest rates on loans from lenders that can also give you the service and the support that you need.

Loan Comparison

View all loan reviews.

Alternative Loans

You may want to compare the above loans with the following.

Bank of Ireland Personal Loan

  • A 0 month deferred start is offered.
  • You enjoy 7.7% representative APR from Bank of Ireland.
  • New customers get 7,500 to 14,999 representative loan amount from this loan.
  • 6 months minimum loan period is offered with Personal Loan.
  • Get first payment due of 30 days.
  • The loan offers a representative APR of 7.7%.
  • Representative Example: The Representative APR is 7.7% (fixed) so if you borrow 10,000 over 4 years at a rate of 7.7% p.a. (fixed) you will repay 240.33 per month & 11,535.84 in total. Arrangement fee 65.

Halifax Clarity Loan

  • You get 1 yr minimum loan duration from the Clarity Loan.
  • Customers get 1,000 minimum loan from this Clarity Loan.
  • 7 yrs max loan term is offered with the loan.
  • Get a max loan of 25,000.
  • Representative Example: The Representative APR is 9.9% (fixed) so if you borrow 10,000 over 4 years at a rate of 9.9% p.a. (fixed) you will repay 233.89 per month & 11,226.72 in total.

Post Office Personal Loan

  • Max loan of 25,000 is offered to you.
  • A deferred start of 0 month is offered by Post Office.
  • Customers can get first payment due of 30 days.
  • Get 1 year minimum loan term from Post Office.
  • 7 yrs maximum loan term.
  • Representative Example: The Representative APR is 7.4% (fixed) so if you borrow 10,000 over 4 years at a rate of 7.4% p.a. (fixed) you will repay 240.21 per month & 11,530.08 in total.

Ulster Bank Ufirst Gold

  • 0 percent arrangement fee (%) is offered with the loan.
  • Get 0 mth deferred start.
  • 7 yrs max loan term is available with Ufirst Gold.
  • Get 10,000 to 25,000 representative loan amount from Ulster Bank.
  • Representative APR of 8.8 percent.
  • Benefit from a maximum arrangement fee of 0 from the Ufirst Gold.
  • Representative Example: The Representative APR is 8.8% (fixed) so if you borrow 10,000 over 4 years at a rate of 8.8% p.a. (fixed) you will repay 246.25 per month & 11,820 in total.

Metro Bank Personal Loan

  • The loan offers 30 days 1st payment due.
  • Metro Bank gives minimum loan of 2,000.
  • Get 1 year minimum loan period.
  • You get 0 mth deferred start from the loan.
  • Representative Example: The Representative APR is 7.9% (fixed) so if you borrow 2,000 over 2 years at a rate of 7.9% p.a. (fixed) you will repay 90.12 per month & 2,162.88 in total.

RateSetter Personal Loan

  • 5.4% representative APR.
  • Take advantage of a representative APR of 5.4%.
  • 1 year minimum loan term is available with this loan.
  • Minimum loan of 1,000 is available with this loan.
  • Representative Example: The Representative APR is 5.4% (fixed) so if you borrow 8,000 over 24 months at a rate of 5.4% p.a. (fixed) you will repay 352.41 per month & 8,457.84 in total.