Compare £5,000 loans

You could get a £5000 loan from these lenders that offer unsecured personal loans, and choose a low APR to save money in interest.

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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

You could get your money within hours. Complete your application on the lender’s website.

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.

15 results found, sorted by lowest representative apr. Find out more about how our calculator works and how we order our comparisons. Commission earned affects the table's sort order.
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£
years
RateSetter Personal Loan Semi Exclusive
Loan amount
£3,000 to £25,000
Representative APR
2.8% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 2.8% per annum would result in a representative rate of 2.8% APR, monthly repayments of £89.32 plus an arrangement fee of £179.50, and a total amount repayable of £5,538.70.
Eligibility
Credit rating acceptedgood
Debt consolidation
Flexible rescheduling
Guarantor requiredfalse
Managed online
Minimum Age21 years
Minimum income£12,000
Online decision
UK Resident
AA Personal Loan Ex/C Member
Loan amount
£1,000 to £25,000
Representative APR
4.1% APR
Loan term
1 year to 7 years
Available to existing customers only.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 4.1% per annum would result in a representative rate of 4.1% APR, monthly repayments of £92.14 false and a total amount repayable of £5,528.40.
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
4.2% APR
Loan term
1 year to 7 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 4.2% per annum would result in a representative rate of 4.2% APR, monthly repayments of £92.36 false and a total amount repayable of £5,541.60.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age21 years
Minimum income£12,000
Online decision
UK Resident
Post Office Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
4.2% APR
Loan term
1 year to 7 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 4.2% per annum would result in a representative rate of 4.2% APR, monthly repayments of £92.36 false and a total amount repayable of £5,541.60.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age21 years
Minimum income£12,000
Online decision
UK Resident
NatWest Home Improvements Loan Existing Customer Only
Loan amount
£1,000 to £50,000
Representative APR
7.9% APR
Loan term
2 years to 10 years
Available to existing customers only. You must be a homeowner to apply for this loan.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 7.9% per annum would result in a representative rate of 7.9% APR, monthly repayments of £100.49 false and a total amount repayable of £6,029.40.
Eligibility
Credit rating acceptedgood
Existing customers only
Flexible rescheduling
Guarantor requiredfalse
Homeowner only
Joint loan
Managed in branch
Managed online
Managed over phone
Minimum Age18 years
Online decision
UK Resident
Royal Bank of Scotland Home Improvements Loan Existing Customer Only
Loan amount
£1,000 to £50,000
Representative APR
7.9% APR
Loan term
2 years to 10 years
Available to existing customers only. You must be a homeowner to apply for this loan.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 7.9% per annum would result in a representative rate of 7.9% APR, monthly repayments of £100.49 false and a total amount repayable of £6,029.40.
Eligibility
Credit rating acceptedgood
Existing customers only
Flexible rescheduling
Guarantor requiredfalse
Homeowner only
Joint loan
Managed in branch
Managed online
Managed over phone
Minimum Age18 years
Online decision
UK Resident
Royal Bank of Scotland Personal Loan Existing Customer Only
Loan amount
£1,000 to £50,000
Representative APR
7.9% APR
Loan term
2 years to 8 years
Available to customers with a Royal Bank of Scotland current account (held for 3+ months), credit card or mortgage (held for 6+ months). Credit card and mortgage customers must apply online or by phone. 3.4% APR available for loans from £7,500 to £19,950.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 7.9% per annum would result in a representative rate of 7.9% APR, monthly repayments of £100.49 false and a total amount repayable of £6,029.40.
Eligibility
Credit rating acceptedgood
Debt consolidation
Existing customers only
Flexible rescheduling
Guarantor requiredfalse
Joint loan
Managed in branch
Managed online
Managed over phone
Minimum Age18 years
Online decision
UK Resident
NatWest Personal Loan Existing Customer Only
Loan amount
£1,000 to £50,000
Representative APR
7.9% APR
Loan term
2 years to 8 years
Available to customers with a NatWest current account (held for 3+ months), credit card or mortgage (held for 6+ months). Credit card and mortgage customers must apply online or by phone. 3.4% APR available for loans from £7,500 to £19,950.
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 7.9% per annum would result in a representative rate of 7.9% APR, monthly repayments of £100.49 false and a total amount repayable of £6,029.40.
Eligibility
Credit rating acceptedgood
Debt consolidation
Existing customers only
Flexible rescheduling
Guarantor requiredfalse
Joint loan
Managed in branch
Managed online
Managed over phone
Minimum Age18 years
Online decision
UK Resident
Zopa Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
15.4% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 15.4% per annum would result in a representative rate of 15.4% APR, monthly repayments of £117.40 false and a total amount repayable of £7,044.00.
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
BetterBorrow Personal Loan
Loan amount
£1,000 to £12,000
Representative APR
24.5% APR
Loan term
1 year to 5 years
Representative Example: Assumed borrowing of £5,000 over 60 months at a fixed rate of 24.5% per annum would result in a representative rate of 24.5% APR, monthly repayments of £138.42 false and a total amount repayable of £8,305.20.
Eligibility
Credit rating acceptedgood
Debt consolidation
Guarantor requiredfalse
Managed online
Minimum Age18 years
Minimum income£12,000
Online decision
UK Resident

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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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Last updated: 15 September, 2020

Is a £5,000 loan right for you?

Borrowing £5,000 is something many people may need to do at some point in their lives. It could be to consolidate debt, purchase a car, go on a honeymoon, or to make repairs around the house.

There are many reasons for which you may need a £5,000 loan and there's nothing wrong with it as long as you have a clear plan on how you're going to pay it back.

But before you borrow £5,000 you also need to know the cheapest way to borrow. You'll have to decided whether you use a credit card, or take out a loan.

At £5,000, you're probably at the maximum threshold for using a credit card to borrow. Credit cards have much higher interest rates compared to loans and are meant for short term borrowing. This is why a £5,000 loan may be a better option.

How long should you take to repay your £5,000 loan

A £5000 loan, UK wide, can last between one and seven years, but some lenders do offer shorter terms of just six months, or longer loans up to 10 years.

With personal loans, the longer the term your loan, the smaller your monthly repayments will be. However, the longer you take to repay your loan the more you'll end up paying in interest over all.

For example, let's say you borrow £5,000 at 8% APR ...

  • If you repay the loan over 3 years: your monthly repayment will be £156.04 and you'll pay £617.44 in interest over all.

  • If you repay the loan over 5 years: your monthly repayment will be £100.72 and you'll pay £1,043.20 in interest over all.

To avoid burdening yourself, it's better to make sure you choose the shortest loan term that results in repayments you can afford on a monthly basis for the duration of the loan.

How to get the right £5,000 loan for you

Since you know how much you want to borrow you can follow these three steps:

  1. Work out how long you need to pay the £5000 loan back

  2. Compare rates online to find the cheapest loan

  3. 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.

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 for you.

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

Will being rejected for a loan affect my credit rating?

Every time you apply for credit, it leaves a mark on your credit report. If you're rejected for a loan application, it's important to try to find out why before you apply again.

It's also vital that you don't make many applications at once, as that may give the impression that you are struggling financially.

This is where our comparison service can help, as you can compare find the deals that you can afford and that you're more likely to be accepted for.

£5,000 loan FAQs

It stands for annual percentage rate, and is the interest you pay on the total value of your loan. The lower your APR, the lower your monthly payments.

This depends on the interest rate and how long you take to pay back the loan. You can use our loan calculator to check what your payments could be.

All the loans in this comparison offer fixed interest rates so the amount you will pay will stay the same.

Applying online can take minutes if you have your details ready. Some secured loans take longer as the lender will need to value your property.

Yes you might, the lender only has to offer their advertised interest rate to 51% of borrowers, so if you have bad credit they can charge you more.

Most £5,000 loans can last between one and seven years. There are a few lenders that offer loans that last up to ten years.

About our loans comparison

Our comparison tables include providers we have commercial arrangements with. The number of listings in our tables can vary depending on the terms of those arrangements, as well as other market developments. They are all from lenders regulated by the Financial Conduct Authority. For more information you can also see how our website works.

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more about how our website works.

You do not pay any extra and the deal you get is not affected.