Compare 12 month loans from direct lenders

Compare 12 month loans with these lenders and brokers and choose one with a low APR to save money in interest.

  • Compare 12 month loans from leading providers
  • View terms, rates and repayments
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Compare 12 month loans from leading providers

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.


How it works


Check your eligibility

Answer a few quick questions. This will not impact your credit score.


Compare personalised loans

See the exact amount you’ll need to pay each month – no estimates.


Apply online

Complete your application on the lender website. You could get your money in hours.

See the interest rate you’re eligible for before you apply

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.

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12 month loan deals

10 results found, sorted by lowest representative apr. How we order our comparisons.
Monevo Personal Loan
Loan amount
£1,000 to £35,000
Representative APR
10.6% APR (£15,000 to £19,999)
Loan term
1 year to 5 years
Monevo Personal Loan
Monevo is a credit broker and not a lender.
Representative Example: The representative rate is 10.6% APR (fixed) so if you borrow £15,000 over 5 years at a rate of 10.6% p.a (fixed) you will repay £319.57 per month and £19,174.37 in total.
Credit rating acceptedpoor
Guarantor requiredfalse
Maximum AgeUnlimited
Minimum Age18 years
Minimum income£7,000
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.

Powered by Monevo to show you real rates

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.

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What are 12 month loans?

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.

Is a credit card better than a 12 month loan?

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.

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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

How to get cheap 12 month loans

Decide how much you need to borrow

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.

Look for the lowest rate

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.

Check that you can afford the loan repayments

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.

Can you get a 12 month loan with bad credit?

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.

12 month loans FAQs

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Why compare loans with

Comparing 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.

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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.

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Last updated: 30 March, 2022