Since you know how much you want to borrow you can follow these three steps:
Work out how long you need to pay the loan back
Compare rates online to find the cheapest loan
Make sure you meet the lender's rules before you apply
You can see which will be the cheapest and see how much you will pay each month using our loan calculator.
Decide on your loan term
Most £5,000 loans can last between one and seven years, but some lenders do offer shorter terms of just six months, or longer loans up to ten years.
Always pick the shortest loan term that comes with monthly payments you can afford.
Choosing a longer loan term makes your monthly loan payments smaller and more affordable, but it will also make the total cost of your loan more expensive.
Get the cheapest loan
The cheapest loan is one with the lowest APR (interest rate) for the term you want to borrow for.
This comparison includes all the £5,000 personal loans available in the UK today, so you can compare rates to find the best loan.
Check the rules before you apply
Every lender has a list of requirements all their borrowers have to meet before they lend to them, so it pays to check you fit the bill before you apply.
Typical requirements can include:
Being a UK resident
Earning a minimum income per year e.g. £12,000
Having a good credit record e.g. no history of missing loan payments