You can apply for an online loan through the lender's website, and you could get a decision on whether your application has been accepted in minutes.
Before you compare online loans, work out exactly what you need to get the right borrowing for you.
What sort of loan do you need?
The help you find the best online loan, work out:
How much you need to borrow: Only borrow what you need to reduce the total amount you have to pay back
How long you want to borrow for: The shorter the term you choose, the less you will pay back in interest overall
This comparison shows how much each lender could offer, and what term you can borrow the money over.
How to compare online loans
Use this comparison to find loans that can offer the amount and term you want, and then look at:
The representative APR, which is the interest you are charged for borrowing. Look for a low rate to reduce how much you pay back in total.
The monthly payment, which is how much you will pay back each month. This is based on the interest rate, the term of the loan and how much you borrow.
Total cost of the loan, which is how much you will have paid back when you get to the end of the loan term. The shorter your term, the less you pay back in total.
Most lenders will show you this information before you make an application, or you can use our loan repayment calculator to work out how much each loan will cost.
Online loans can give you a quick decision, but you may get a better loan if you apply by phone or post. Compare all loans here to make sure you get the cheapest deal.
Online loans FAQs
How quickly will I get a decision?
It depends on the lender. Some can give you a decision in minutes after your application, but it may be longer if they need to run extra checks.
How much can I borrow with an online loan?
Most online loans let you borrow up to £25,000. However, how much you can borrow depends on your income and your credit record.
What does APR mean?
It stands for annual percentage rate, and is the interest you pay on the total value of your loan. The lower your APR, the lower your monthly payments.
How long can I borrow for?
Most online loans offer terms of between 1 and 5 years, but you may be able to borrow for longer. Here is more information on borrowing terms.
Will I have to pass a credit check?
Yes, when you apply the lender will check your credit record. Do not apply for more than one loan at once because this could harm your credit record.
About our loans comparison
Who do we include in this comparison?
How do we make money from our comparison?
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.