Compare Unsecured Loans Bad Credit

Compare unsecured loans bad credit from all the lenders that offer poor credit loans in the UK & quickly discover which of the unsecured loans for bad credit available will work out cheapest for you. We make it easy to get a cheap unsecured personal loan for bad credit so you don't pay more just because you have a poor credit rating history.
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 LoanRepresentative APRFor Loan AmountsTermBad Credit 
MinimumMaximumMinimumMaximum
Opal Loans
Personal Loan
£2,000£10,00024.9%£2,000 to £10,000
2
years
5
years
Representative Example: Representative 24.9% APR (variable). Borrow £5,000 and pay £198.53 a month for 36 months. The Total Interest Payable is £2,147.08. The Total Amount Payable is £7,147.08.
Opal Loans offers a loan broking service. Please only apply if you are a home owner, aged 25 to 72, earning £15,000 per annum, and making regular payments to your mortgage.
UK Credit Ltd
Guarantor Loan
£1,000£7,50047.9%£1,000 to £7,500
1
year
5
years
Representative Example: £3,000 over 3 years, Annual interest rate 39.8% fixed, monthly payment £143.98. Interest payable £2,183.28. Total repayable £5,183.28. Representative 47.9% APR fixed.
UK Credit is a specialist, no fee guarantor loan provider. All bad credit considered. Please only apply if you have a homeowner guarantor to support your application.
Amigo Loans Ltd
Guarantor Loan
£500£5,00049.9%£500 to £5,000
1
year
5
years
Representative Example: The Representative APR is 49.9% (variable) so if you borrow £5,000 over 2 years at a rate of 41.16% p.a. you will repay £309.08 per month & £7,417.92 in total.
Struggling to get a loan even though you know can afford to pay it back? Amigo can lend you up to £5000 as long as you've got someone willing to back you up.
Achieve Credit
Guarantor Loan
£1,000£7,50053.8%£1,000 to £7,500
1
month
3
years
Representative Example: The representative APR is 53.8% (fixed) so if you borrow £5,000 over 2 years at a rate of 53.8% p.a. (fixed) you will repay £316.43 per month & £7,594.32 in total.
Aspire Money
Personal Loan
£500£7,50058.5%£500 to £7,500
1
year
7
years
Representative Example: Representative 58.5% APR. Borrow £5,000 and pay £297.34 a month for 36 months. The interest payable is £5,704.24. The total repayable is £10,704.24.
Aspire Money offer a loan brokering service with no upfront fees and have loans available that don\'t require a guarantor. Please only apply if you are aged 18 to 65, employed or self employed with a income of more than £800 a month.
Pounds to Pocket
 
Personal Loan
£200£2,000399.0%£200 to £2,000
1
year
1
year
Representative Example: The Representative APR is 399% so if you borrow £500 over 1 year at a rate of 172% you will repay £98.54 per month and £1182.50 in total.
Provident Personal Credit
 
Cash Loan
£100£500399.7%£100 to £500
6
months
1
year
Representative Example: Representative 399.7% APR. Borrow £200 and pay £10 per week for 32 weeks at a fixed interest rate of 97.5% per year. The Total Repayable is £320.
Shopacheck
Cash Loan
£200£1,000399.7%£200 to £1,000
8
months
1
year
Representative Example: The representative APR is 399.7% (fixed) so if you borrow £300 over 8 months at a rate of 399.7% p.a. (fixed) you will repay £60 per month & £480 in total.

money.co.uk, Dot Zinc Limited, 160 Fleet Street,London. EC4A 2DQ. We are a Credit Broker for all consumer credit products listed on money.co.uk.

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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Can You Get an Unsecured Loan with Bad Credit?

Finding a loan if you have a poor credit rating can be difficult, especially if you donít want to risk your home or possessions. But there are options out there, and knowing what to look for will help you find the best bad credit unsecured loans.

1 Creditcheck

If you’re looking for an unsecured loan bad credit, caused by missed payments or in some cases simply having not built a credit history yet, can seriously narrow your options.

But if you want to buy a new car, improve your home or consolidate some existing debts you may still need a loan to help you pay for it. The trick is knowing what to look for.

The cheapest loan options are usually secured loans, which use your home to guarantee the balance if you have built up enough equity. However not everyone has this luxury, and if you don’t own your home or don’t want to risk losing it you can opt for an unsecured loan instead.

With no collateral involved, these are based purely on the lender deciding whether or not you can repay it. The lender’s affordability checks will cover what you earn, your monthly outgoings and your credit rating.

Even if you have a history of bad credit, you should still go about your personal loan comparison in the same way; however, your choice will be limited to specialist “bad credit loans”. Here’s how to get the cheapest bad credit loan:

How large a loan do you need?

How much you borrow will affect what companies will offer you a loan and the interest rates they charge, so decide how much you need first of all. This will stop you wasting time looking into unsuitable products and help you more accurately work out what each loan will cost you. Simply match your required loan to each lender’s maximum / minimum borrowing figures.

How long do you need to repay the loan?

You can often choose the length of the term you repay your loan over. A longer period will make your monthly payments smaller and can sometimes come with a lower APR, but you’ll probably pay more interest overall. So when you choose the term of your loan, make sure you can comfortably afford the amount you need to pay each month, while still keeping the term as short as you’re able.

Would you like the loan to be fixed or flexible?

A fixed loan allows you to pay the same amount each month, making it easier to plan your budget. If the loan provider supplies a loan repayment calculator, you should be able to work out how much the payments will be depending by specifying the amount and term. With a flexible loan you’ll still owe that fixed monthly amount, however you may also be allowed to pay off the loan early or make overpayments.

Fixed or variable interest?

A fixed interest rate will give you the peace of mind of knowing exactly how much you need to pay each month, as the rate you pay will be guaranteed for the loan’s entire term. Variable interest rates aren’t guaranteed, so could go up or down. This could leave you needing to pay back more than anticipated and could even be the difference between being able to pay back the loan or not.

Are any fees charged?

Loans can often charge set-up fees as well as interest, so be sure to factor these in when you work out the total cost of the loan. These can include charges for early repayment or for getting the money to you on the same day. Many unsecured bad credit loans are sold through brokers, so make sure you check for their fees too.

Will you be eligible for the loan?

If your credit rating is already low, you won’t want to make it worse, so apply for unsecured personal loans for bad credit with caution. If you apply for too many, this could make your credit rating worse, so try to stick with the companies that will be willing to lend to you. Our article How to check your credit report can help give you an idea of where you stand.

As well as your credit rating, keep an eye on the terms and conditions for any other eligibility criteria the lenders have, such as your age, your residential status, that you have a current account and a regular income.

Homeowner guarantors

Many of the loans you find advertised will only be available if you have a guarantor to back you up. This means that while the loan is unsecured for you, your guarantor must agree to pay it if you miss your payments. Most lenders require your guarantor to be a homeowner; if both of you fail to pay the loan they could lose their home. Make sure your guarantor knows of the risks before your apply.

Compare unsecured loans for poor credit

Providers generally see unsecured loans as risky, as there is no collateral to recover their money from if repayments are missed. So unsecured loans for bad credit often have higher interest rates, which makes it even more important to look for the best deal you can find.

Our unsecured loans bad credit comparison will help you find the best interest rates, but when you decide on the right loan for you, make sure you consider its total cost by looking at the monthly repayments and fees. Combine this with looking for the amount you need, available for repayment over a period that suits you.

Loan Comparison

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Alternative Loans

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

Sainsbury's Bank Standard Small Loan (£1K-£2999) (4-5 Yrs)

  • 5 years maximum loan term is offered.
  • This Sainsbury's Bank loan has a £0 arrangement fee (£).
  • Get 18.5% representative APR.
  • Minimum loan of £1,000.
  • 4 years minimum loan duration is offered.
  • This loan has 30 days 1st payment due.
  • Representative Example: The Representative APR is 18.5% (fixed) so if you borrow £2,000 over 4 years at a rate of 18.5% p.a. (fixed) you will repay £57.81 per month & £2,774.88 in total.

Metro Bank Personal Loan

  • Minimum loan of £2,000 is available to new customers.
  • Get £0 minimum arrangement fee.
  • This loan gives an arrangement fee (£) of £0.
  • 5 years maximum loan term is offered with Personal 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.

Sainsbury's Bank Standard Medium Loan (4-5 Yrs)

  • Representative APR of 4.5 percent is available.
  • New customers get 5 years maximum loan term.
  • 4 yrs minimum loan duration is offered.
  • Get a deferred start of 2 months from the loan.
  • Have the benefit of £0 arrangement fee (£).
  • Representative APR of 4.5 percent is offered.
  • 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 Shopper Reward Med Loan (1-3 Yrs)

  • This Shopper Reward Med Loan (1-3 Yrs) has £7,500 to £15,000 representative loan amount.
  • This Sainsbury's Bank Shopper Reward Med Loan (1-3 Yrs) has £7,500 minimum loan.
  • 1st payment due of 30 days.
  • You get 3 yrs max loan term from Sainsbury's Bank.
  • Sainsbury's Bank gives representative APR of 4.7%.
  • Representative Example: The Representative APR is 4.7% (fixed) so if you borrow £10,000 over 2 years at a rate of 4.7% p.a. (fixed) you will repay £436.93 per month & £10,486.32 in total.

RateSetter 1 Year Loan

  • RateSetter offers deferred start of 0 mth.
  • £5,000 to £14,999 representative loan amount is offered with the loan.
  • 1 Year Loan gives a representative APR of 6.7%.
  • Customers benefit from 6.7% representative APR from the loan.
  • Get a max loan of £25,000 from this loan.
  • 30 days first payment due.
  • Representative Example: The Representative APR is 6.7% (fixed) at a rate of 6.7% p.a. (fixed)Arrangement fee £115.75.

Moneybarn Car Finance

  • Moneybarn gives representative APR of 33.4 percent.
  • New customers get 33.4% representative APR from the Car Finance.
  • £5,000 minimum loan.
  • Minimum loan term of 2 years is available.
  • You get £25,000 maximum loan.
  • Representative Example: The representative APR is 33.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 33.4% p.a. (fixed) you will repay £378.91 per month & £18,187.56 in total.

Derbyshire Building Society Personal Loan

  • You have the benefit of £0 arrangement fee (£) from Derbyshire Building Society.
  • Personal Loan gives a minimum arrangement fee of £0.
  • New customers can enjoy max arrangement fee of £0.
  • Personal Loan offers a 1st payment due of 30 days.
  • Maximum loan term of 5 years is offered with Personal Loan.
  • 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.