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.

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How it works

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.

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.

13 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 acceptedgood
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed in branch
Managed online
Managed over phone
Minimum Age18 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 (£15,001 to £25,000)
Loan term
1 year to 7 years
Available to existing customers only.
Representative Example: Representative 8.2% APR fixed. Based on a loan of £4,000 for 36 months at 8.2% p.a. Total £4,506.12 repayable at £125.17 per month.
Eligibility
Credit rating acceptedgood
Debt consolidation
Existing customers only
Guarantor requiredfalse
Managed online
Minimum Age21 years
Minimum income£12,000
Online decision
UK Resident
AA Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
2.9% APR (£15,001 to £25,000)
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 acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age21 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 acceptedpoor
Debt consolidation
Flexible rescheduling
Geographical restrictions
Guarantor requiredfalse
Homeowner only
Joint loan
Managed by post
Managed in branch
Managed online
Managed over phone
Maximum AgeUnlimited
Minimum Age18 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 acceptedgood
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Minimum Age20 years
Minimum income£12,000
Online decision
Social lending
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 acceptedpoor
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Minimum Age18 years
Minimum income£8,400
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.

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.

Last updated: 25 September, 2020

What are 24 month loans?

A 2 year loan is one that you repay over a 2 year period. You can borrow anywhere between £1,000 to £25,000 with a 2 year loan, but be sure that you can afford the repayments.

What can you use a 2 year 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

Since you know how long you need to pay back what you want to borrow, 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 is also a good idea to check your credit record is accurate before you apply too.

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

Here is how to apply for a loan

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:

  • 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.

  • 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.

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.

Can you get a 2 year loan with bad credit

Yes, it is 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.

Further Information

24 month loans FAQs

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