Compare long term loans: Up to 10 years

You could spread the cost of a loan over five or more years to help make your repayments more manageable.

  • Compare long term loans from leading providers
  • View terms, rates and repayments
  • Our service is simple, reliable, and free of charge

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Compare long term 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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Long term loan deals

5 results found, sorted by lowest representative apr. How we order our comparisons.
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
Personal loan with 12 months breakdown cover at no extra cost, existing AA members are entitled to an add-on at no extra cost.
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.
UK Resident
Minimum Age21 years
Minimum Income£12,000
Credit Rating Acceptedgood
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
Personal loan with 12 months breakdown cover at no extra cost, existing AA members are entitled to an add-on at no extra cost.
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.
UK Resident
Minimum Age21 years
Minimum Income£12,000
Credit Rating Acceptedgood
Shawbrook Bank Personal Loan
Loan amount
£1,000 to £35,000
Representative APR
14.9% APR (£1,000 to £35,000)
Loan term
1 year to 7 years
Get a personalised quote with an instant decision without affecting your credit rating. Tailored rates. All documents are e-signed.
Representative Example: The Representative rate is 14.9% APR (fixed) so if you borrow £10,000 over 5 years at a rate of 14.9% p.a (fixed) you will repay £232.53 per month & £13,951.80 in total.
UK Resident
Minimum Age25 years
Minimum Income£15,000
Credit Rating Acceptedfair

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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What is a long term loan?

Long term loans are loans that are paid off over five or more years.

With long term personal loans, spreading the cost over a longer time period can make the monthly repayments lower and easier to afford. That being said, it’s worth bearing in mind that longer term loans are usually more expensive overall, because you’ll end up paying more interest. 

Even if you get a good interest rate from the best long term loans, the fact that you’re borrowing for longer means you’ll pay more overall.

If you want to apply for a long term loan, our comparison table above has loans which can be taken out for up to seven years.

When it comes to long term loans, direct lenders or banks may be happy to lend to you, depending on your circumstances.

Is a long term loan right for me?

Taking out a long term loan is a big decision and commitment. You’ll be making repayments for a long time and it’s hard to predict how your finances will be in the future. What if you change jobs? What if you lose your job? What if your marriage breaks down? Nobody knows what their financial situation will be in the future, so it’s worth bearing this in mind before you commit to a long term loan.

The best thing you can do is research longer loans thoroughly and make sure you fully understand the advantages and disadvantages of taking one out.

What are the advantages and disadvantages of taking out long term personal loans?

  • Banks will lend more money if you’re repaying it over a longer time period.

  • Low interest rates are common.

  • You can spread your loan over a longer time period, so it makes each monthly repayment lower.

  • Lots of banks offer long term loans.

  • You can choose how much to borrow over whatever time period suits you.

  • They have a higher borrowing cost. Even if the interest rate is low, the longer the loan period, the more you’ll pay in interest overall.

  • It can be more difficult to be approved for a loan

  • In some cases you’ll be charged for early repayments

How to choose the best long term loan for you

Finding the right long term loan for you will largely depend on your financial situation but it’s also worth thinking about three main things when applying: 

  • How much you need to borrow

  • How long you’re going to pay it back over

  • How much you can afford to pay back each month

Once you know how much you’d like to borrow and how long you need to pay it back, you can start doing a comparison. 

The comparison table at the top of this page shows longer loans in the UK that can be paid back over several years. It’s important you read the terms and conditions of the different loans available and make sure you understand what will happen if you can’t make your repayments each month.

 There are also a few other things to consider when taking out a loan over a long term, these include:

  • Whether the loan is secured or unsecured: It’s not uncommon for long term loans to be secured against your property. With long term secured loans, if you don’t keep up repayments on your debt, the bank could repossess your home and sell it to recoup its money. It can be hard to find a long unsecured loan if you’re borrowing for more than five years.

  • The type of interest rate: Most personal loans fix the rate of interest, but sometimes long term loans in the UK have variable rates. This means the rate can change during your loan, so check before you apply. With a variable interest rate, you’d need to make sure you were prepared for your monthly repayments to go up and down which can be tricky from a budgeting perspective.

  • Whether you can repay it early: Long term loans can be paid back early but some lenders might charge an early repayment fee for doing this. You should check before you apply. The option to pay it back early could save you money and help you clear your debts quicker if your situation changes.

  • The lender’s borrowing rules: Don’t forget to check the bank’s application guidelines before you apply.

What can I take out a long term loan for?

Most people who are interested in a long term loans are  looking to finance long term projects or a big expense such as:

  • Paying for a wedding

  • Home improvements

  • Purchasing a car

  • Long term debt consolidation

But remember that a long term personal loan shouldn’t be used for your business. You need to look specifically at long term business loans if the money is for your company.

Long term interest rates

When you take out any kind of loan, there are two types of interest rates to look out for.

A fixed interest rate means the interest rate stays the same throughout your term, even if market interest rates change. This makes it easier to plan your repayments. You won’t have to pay any more if interest rates rise. But remember that you also won’t benefit from lower repayments if interest rates go down.

A variable interest rate means the lender can increase or decrease the interest rate while you are paying off your loan. Your repayments would go up if market interest rates rose, but decrease if market interest rates went down. This can make it difficult to plan your finances. But if interest rates go down, you’ll benefit from lower repayments.

Long term loans for bad credit

You can still get long loans if you have a bad credit history. But you should be aware that long term loans for bad credit usually have higher interest rates.

Long term loans can be a good way to consolidate existing debts, allowing you to easily manage one monthly repayment instead of paying several different lenders.

With long term loans for bad credit, lenders might look more closely at your credit rating. They’re more likely to want to secure your loan against your home and you’ll need to think about whether you’re prepared to do this. 

If you’ve got bad credit history and are interested in long term loans, you might want to consider a guarantor. A long term loan without a guarantor could bebe problematic as many lenders will want to reduce the risk when lending to you. 

Find out more about debt consolidation loans and loans with guarantors here.

Long term loan 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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Last updated: 14 February, 2022