Compare 12 month loans with these lenders and brokers and choose one with a low APR to save money in interest.
Checking won't affect your credit score
Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.
1
Check your eligibility
Answer a few quick questions. This will not impact your credit score.
2
Compare personalised loans
See the exact amount you’ll need to pay each month – no estimates.
3
Apply online
Complete your application on the lender website. You could get your money in hours.
With real interest rates you'll see exactly how much you’ll need to pay each month. And which lenders will pre-approve your application before you apply.
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 18 years |
| Minimum income | £10,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | poor |
| Guarantor required | false |
| Maximum Age | Unlimited |
| Minimum Age | 18 years |
| Minimum income | £7,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 20 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | fair |
| Guarantor required | false |
| Minimum Age | 18 years |
| UK Resident |
| Credit rating accepted | poor |
| Guarantor required | false |
| Minimum Age | 18 years |
| Minimum income | £8,400 |
| UK Resident |
| Credit rating accepted | poor |
| Guarantor required | false |
| Minimum Age | 18 years |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 18 years |
| UK Resident |
We are classed as a credit broker for consumer credit, not a lender.
Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.
Your personalised bad credit loan results are powered by Monevo. They make sure you only see real interest rates. Not just estimates like some lenders show you.
These are short term loans that you repay over a 12 month period through fixed monthly instalments.
These can be useful for borrowing a small amount of money e.g. £3,000 to £7,000, although it is possible to borrow much more.
These loans can be used at any point, and the needs will vary, such as:
Unexpected expense
Extra cash to cover regular expenses
Making home improvements
Taking a holiday
But it's important that before you take out a loan, you have a plan in place to repay it.
Whether you opt for a credit card or loan depends on how much money you need to borrow. A loan may be a better option if you want to borrow a large amount of money, and you can afford to pay the fixed monthly payments.
Typically, the more you borrow, the lower the loan’s APR. APRs can be as high as 30% for loans of £1,000, but as low as 3% if you’re borrowing more than £7,000.
Credit cards are better suited for short term borrowing for everyday spending, as they tend to have higher interest rates than loans.
A 12 month loan can help you cover an unexpected cost, such as an emergency bill, or even a planned expense like a holiday. Remember to look for the lowest rates and consider your monthly repayments. ”Salman Haqqi, Loans expert
You could borrow between £1,000 and £25,000 with a 12 month loan, but you will need to show that you can afford the monthly payments.
It's important to only borrow an amount you need, because you'll have repay the whole amount with interest.
The interest rate is the main factor that dictates how much your loan will cost, so when you know how much you want to borrow, shop around to find the cheapest rate.
This comparison shows the representative APR of each loan. However, the rate can vary for different loan amounts.
The representative APR includes all of the standard costs of getting a loan, so check you are getting the lowest advertised rate you can find before you apply.
Paying back your loan over just 12 months may keep the overall cost down but it will also make your monthly payments higher.
Use our loan repayment calculator to see how much you would have to pay back each month if you borrowed over a 12 month period.
Once you know how much the monthly payments could be draw up a budget to check if you can afford them.
If you've had problems with credit before, there are lenders who may still consider offering a 12 month loan to you.
These lenders take into account your overall financial circumstances and your affordability, instead of just relying on you credit score.
That said, if your application is accepted, it's likely that you'll pay a higher interest rate, and that you may not be able to borrow the amount you wanted.
Exactly what is a loan? What can you use it for and how do you get one? Find answers to all your questions about loans here.
Read MoreYou can get a personal loan with bad credit, but the rates will likely be high. It can be harder to get a loan with bad credit, and it may be worth trying to improve your score before you apply for a loan.
Read MoreYour credit record has a big impact on the type of loan you can get and how much it will cost. Here is how your credit history affects your loan application and what you can do about it.
Read MoreShould you borrow against your house? Find out if taking out a secured loan against your home is sensible or something to avoid.
Read MoreChoosing the right way to borrow money can make it cheaper and easier to manage. Here is when you should use a credit card, loan or overdraft.
Read MoreWhen you miss a payment on your loan, you'll be charged a fee. You may be issued with a County Court Judgement or have to declare yourself bankrupt if you continue to miss payments.
Read MoreComparing loans could help you save money. Our award-winning loan comparison service makes sure you get our best interest rates. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.
We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.
Last updated: 30 March, 2022
