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24 month loans

Compare 24 month loans

These lenders and brokers all offer two year loans and choosing one with a lower APR means you'll pay less interest and reduce your monthly repayments.

Compare 24 month loans from leading providers
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Compare 24 month loans from leading providers

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.

Find a loan

Two year loan deals

11 results found, sorted by lowest representative apr. How we order our comparisons.

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M&S Bank Personal Loan

Loan amount

£1,000 to £25,000

Representative APR

2.8% APR (£7,500 to £15,000)

Loan term

1 year to 7 years

Representative Example: The representative rate is 2.9% APR (fixed) so if you borrow £7,500 over 5 years at a rate of 2.9% p.a (fixed) you will repay £134.31 per month & £8,058.60 in total.

Eligibility

Credit rating accepted	good
Flexible rescheduling
Guarantor required	false
Managed in branch
Managed online
Managed over phone
Minimum Age	18 years
Minimum income	£10,000
Online decision
UK Resident

AA Personal Loan Ex/C Member

Loan amount

£1,000 to £25,000

Representative APR

2.8% APR (£15,000 to £19,999)

Loan term

1 year to 7 years

Available to existing customers only.

Representative Example: Representative 8% APR fixed. Based on a loan of £4,000 for 36 months at 8% p.a. Total £4,493.88 repayable at £124.83 per month.

Eligibility

Credit rating accepted	good
Existing customers only
Guarantor required	false
Managed online
Minimum Age	21 years
Minimum income	£12,000
Online decision
UK Resident

AA Personal Loan

Loan amount

£1,000 to £25,000

Representative APR

2.9% APR (£15,000 to £19,999)

Loan term

1 year to 7 years

Representative Example: The representative rate is 3.0% APR (fixed) so if you borrow £17,500 over 60 months at a rate of 3.0% p.a. (fixed) you will repay £314.14 per month & £18,847.80 in total.

Eligibility

Credit rating accepted	good
Guarantor required	false
Managed online
Minimum Age	21 years
Minimum income	£12,000
Online decision
UK Resident

Post Office Personal Loan

Loan amount

£1,000 to £25,000

Representative APR

2.9% APR (£15,001 to £25,000)

Loan term

1 year to 7 years

Representative Example: Representative 8.1% APR fixed. Based on a loan of £4,000 for 36 months at 8.1% p.a. Total £4,500 repayable at £125 per month.

Eligibility

Credit rating accepted	good
Guarantor required	false
Managed online
Minimum Age	21 years
Minimum income	£12,000
Online decision
UK Resident

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 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.

Eligibility

Credit rating accepted	poor
Flexible rescheduling
Geographical restrictions
Guarantor required	false
Joint loan
Managed in branch
Managed online
Managed over phone
Maximum Age	Unlimited
Minimum Age	18 years
Minimum income	£7,000
Online decision
Self employed accepted
Social lending
UK Resident

Zopa Personal Loan

Loan amount

£1,000 to £25,000

Representative APR

15.4% APR (£1,000 to £25,000)

Loan term

1 year to 5 years

Representative Example: Representative 15.4% APR fixed. Based on a loan of £10,000 for 60 months at 15.4% p.a. Total £14,099.54 repayable at £234.99 per month.

Eligibility

Credit rating accepted	good
Flexible rescheduling
Guarantor required	false
Managed online
Minimum Age	20 years
Minimum income	£12,000
Online decision
Social lending
UK Resident

Koyo Personal Loan

Loan amount

£1,500 to £12,000

Representative APR

17.9% APR (£7,001 to £12,000)

Loan term

6 months to 5 years

Representative Example: Representative 24.9% APR fixed. Based on a loan of £4,000 for 36 months at 22.44% p.a. Total £5,562.27 repayable at £154.52 per month.

Eligibility

Credit rating accepted	fair
Guarantor required	false
Managed online
Minimum Age	18 years
Online decision
UK Resident

118 118 Money Personal Loan

Loan amount

£1,000 to £5,000

Representative APR

49.9% APR (£1,000 to £5,000)

Loan term

1 year to 3 years

Representative Example: Representative 49.9% APR fixed. Based on a loan of £2,000 for 24 months at 41.2% p.a. Total £2,967.43 repayable at £123.64 per month.

Eligibility

Credit rating accepted	poor
Flexible rescheduling
Guarantor required	false
Managed online
Minimum Age	18 years
Minimum income	£8,400
Online decision
UK Resident

Bamboo Personal Loan

Loan amount

£1,000 to £8,000

Representative APR

59.7% APR (£1,000 to £8,000)

Loan term

1 year to 5 years

Representative Example: Representative 59.7% APR fixed. Based on a loan of £3,000 for 30 months at 47.73% p.a. Total £5,190.50 repayable at £173.02 per month.

Eligibility

Credit rating accepted	poor
Flexible rescheduling
Guarantor required	false
Managed online
Managed over phone
Minimum Age	18 years
Online decision
UK Resident

Likely Loans Personal Loan

Loan amount

£500 to £5,000

Representative APR

59.9% APR (£500 to £5,000)

Loan term

1 year to 3 years

Representative Example: Representative 59.9% APR fixed. Based on a loan of £2,000 for 24 months at 59.9% p.a. Total £3,145.20 repayable at £131.05 per month.

Eligibility

Credit rating accepted	good
Flexible rescheduling
Guarantor required	false
Managed online
Minimum Age	18 years
Online decision
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.

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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 24 month loans?

A 24 year loan is one that you repay over a two year period. You can borrow anywhere between £1,000 to £25,000, but be sure that you can afford the repayments.

What can you use a 24 month loan for?

A 2 year loan can be used to anything that you need. But given that the repayment term is fairly long, 24 month loans are best used for planned expenses. These could be buying a new car, making home improvements, or going on a holiday.

How to get a cheap 24 month loan

Follow these three steps to find the right loan:

Decide how much you need to borrow: There are plenty of two year loans for between £1,000 and £25,000. If you need to borrow more, it may be possible but choice is limited. Try to borrow no more than you need to as it costs more in interest.
Look for the lowest interest rate: This is the main cost of your loan. You can use this comparison to compare interest rates for two year loans.
Check the loan details before you apply: Make sure you can afford the payments and meet all the lender's rules. It's also a good idea to check your credit record is accurate before you apply.

You can use our loan repayment calculator to get a quick estimate of how much your monthly payments could be.

Is 24 months still the right term for you?

Once you know how much the monthly payments could be it is worth double checking if a two year loan is still the best choice:

Monthly payments are bigger than expected

If you find that the monthly payments are bigger than expected you could make them more affordable by choosing a longer term loan, although you will normally pay more overall.

Long term loan

Monthly payments are smaller than expected

If you find that the monthly payments are smaller than expected you could save money by choosing a shorter loan term, just make sure you can still afford the payments each month.

Short term loan

For example, if you borrow £2,000 with an APR of 5% over 2 years the monthly payments would be £87.64. Change the term to 3 years and they drop to £59.84.

When applying for a loan consider your credit score. Are you in a good position to take on a financial commitment? It’s important to think about what your monthly repayments will be, as well as other bills you might have.”

Salman Haqqi, Loans expert

Can you get a 2 year loan with bad credit?

Yes, it's possible to get 24 month loans with bad credit. Many lenders will look at more than just your credit history to judge your eligibility for a loan. However, it's likely that you'll be offered a higher interest rate as you'll be considered a higher risk borrower.

How to apply for a loan

Further Information

Personal loans from Citizens Advice
Personal loans advice from the Money Advice Service

24 month loans FAQs

About our loans comparison

Explore more loans guides

See more guides

A beginner's guide to loans

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.

The word loan is spelt over four wooden blocs, with two male figurines placed next to them.

How to borrow money with bad credit

You 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.

How your credit record affects the loan you get

Your 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.

Should you borrow against your home?

Should you borrow against your house? Find out if taking out a secured loan against your home is sensible or something to avoid.

Should you get an overdraft, credit card or loan?

Choosing 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.

Weighing scales with a pile of receipts on one side in the air and a piggy bank on the other weighing it down

What happens if you are unable to pay back your loan?

When 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.

Why compare loans with money.co.uk?

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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