Compare our best personal loans and see real interest rates without impacting your credit score.
Checking won't affect your credit score
You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.
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.
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.
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 18 years |
| Minimum income | £10,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | fair |
| Guarantor required | no |
| Maximum Age | Unlimited |
| Minimum Age | 25 years |
| Minimum income | £15,000 |
| UK Resident |
| Credit rating accepted | good |
| Guarantor required | false |
| Minimum Age | 20 years |
| Minimum income | £12,000 |
| UK Resident |
| Credit rating accepted | fair |
| Guarantor required | false |
| Minimum Age | 18 years |
| UK Resident |
| Credit rating accepted | poor |
| Guarantor required | false |
| Maximum Age | Unlimited |
| Minimum Age | 18 years |
| Minimum income | £7,000 |
| UK Resident |
| Credit rating accepted | poor |
| Guarantor required | false |
| Minimum Age | 21 years |
| Minimum income | £15,000 |
| 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.
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.
A personal loan is a loan which is not secured against anything you own such as a car or home. This is why they are also commonly known as 'unsecured loans.' Although unsecured loans are less risky for you, they may limit how much you are able to borrow.
Personal loans are reliant on your credit history, which means your credit check will play a big part in whether you’re approved for unsecured loans. It’ll also affect what personal loan rates you’re offered and whether you can access cheap loans or not.
In contrast, if you take out a secured loan, the borrowing is secured against an asset you own, like a house or car. That gives the bank or lender security, in case you default on your loan repayments.
Read more about the differences between secured and unsecured loans here.
Getting a personal loan is simple, and just takes a few easy steps:
Compare lenders
By comparing personal loans you can find the lender that offers you the best interest rate at term that keeps the fixed monthly payments at a level that you can afford. It also ensures that you don't pay more in interest overall.
Fill out a loan application
Once you've chosen the lender and deal you like, you can apply for a loan. The lender will carry out a credit check and assess your eligibility for the loan based on your financial circumstances. This process can take up to a week.
Receive funds
Once your application has been approved, all you need to do is accept the terms of the loan agreement and receive the funds. It can take between one to five days for the money to be transferred into your account.
When you apply for personal loans, UK lenders do a credit check. That means they look at your credit record to see your financial history. When it’s done in connection with an application for credit, it’s called a hard credit check. Your credit record logs how much credit you've taken out and whether you've made payments on time, or missed payments. Based on that and other affordability calculations, they’ll decide whether you're a responsible borrower and can afford to repay the loan.
Find out more about how your credit score affects your ability to get a loan
As with all borrowing, finding the best loan will depend on your financial and personal circumstances.
To find the best personal loan deals, you need think about a few main things before you apply for a loan:
How much you want to borrow. The amount you need to borrow will dictate the interest rate you are offered and even if you'll be approved for a personal loan.
How long you need to pay it back. The longer you take to repay the loan, the lower your monthly payments will be. But that also means you end up paying more in interest overall.
How much you can afford to repay each month. As mentioned, personal loans rely on your credit score and missing payments can damage your ability to get credit it in the future. So knowing how much you cant put aside every month to cover the repayments is an important factor.
To get the best unsecured loan deals, compare as many loans as you can so that you know what's available in the market.
In the table above, you can compare our best personal loans. We’ve included a representative example of how the loan works when borrowing £10,000 over five years.
However, it’s important to remember that this is just an example and the actual personal loan rates you are offered will be the lender’s decision after assessing your eligibility.
Every lender has its own criteria for what credit score you need to be accepted for their personal loans. That’ll affect whether they’ll give you an unsecured loan and what APR (annual percentage rate) they offer.
In short, the APR is the amount you’ll owe on top of what you borrow, for interest and other charges. You can read more on APR for loans here.
The representative APR shown in our personal loan comparison table is an advertised rate. It means this rate is offered to at least 51% of successful applicants. So it’s not guaranteed.
If your lender thinks you’re at risk of missing your repayments, you’ll be charged more for your loan. Some of the factors that affect the cost of your loan include:
How much you borrow: The more you borrow, the higher your monthly repayments will be
How long you borrow for: Short-term loans may come with a higher monthly cost, as they often charge more interest than longer-term loans
Your credit history: You might pay more interest if you have bad credit
Your income: If your income is low, you might be charged a higher interest rate
Once you’ve found the best personal loan for you, it’s a good idea to use our loan repayment calculator. It’ll show you how much you’d be repaying each month with that particular personal loan.
It’s important that you only apply for personal loans you can afford to pay back. Here’s some information about what happens if you can't payback your loan.
Total unsecured debt – excluding credit card debt - in the UK amounted £198 billion at the end of January 2022. That averages to about £3,743 per adult¹.
Unsecured personal loans are often used for making a big purchase, or for home improvements. But you can use the money however you like, as long it's not specifically excluded in the loan agreement.
A home improvement loan can be a good way to increase your home’s value. Our home improvement loan comparison table can help you find the best unsecured personal loans. Then you can renovate your home in the most cost-effective way.
If you want to buy a car use the personal loan comparison table above to see if any of the unsecured loans would work for you as car finance. You can also check the cost of car finance using our car finance calculator.
When considering an unsecured personal loan, you should aim to borrow only as much as you need, and repay it as soon as possible. To avoid getting into a debt trap, always borrow only what you can afford to pay back and make sure you factor in your repayments into your monthly budget.”Salman Haqqi, Loans expert
Before you apply for a personal loan, it’s essential you understand the risks involved. When you apply for a loan, a lender will perform a hard credit check and if this is rejected, this could further damage your credit profile.
It’s also important you assess whether you can confidently afford the loan you’re applying for. If you don’t make your repayments on time, you risk damaging your credit score and your ability to get credit in the future.
You can use our loan calculator to help you work out what your repayments could look like and work out a budget from this to see if a personal loan is a feasible option based on your financial situation.
If you’re concerned about your credit history, you could also use our eligibility checker at the top of this page. It uses a soft check so doesn’t affect your credit history but gives you an indication of loans you may be eligible for.
Finally, seriously consider how much you need to borrow and how long to borrow for.
Generally loans taken over a longer term cost less in monthly repayments, but will cost you more in total due to the interest you’ll pay. If you choose a shorter term, you will likely pay more each month but less interest overall.
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.
Read MoreChoosing 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.
Read MoreKeeping a check on your landline tariff can help you save money and quickly resolve problems with your phone company. Here is how to manage your landline service.
Read MoreTo get the best car finance deal, you need to shop around. Do not just go with the offer you’re given by a car dealership. You must meet the repayments, otherwise your vehicle may be repossessed.
Read MoreShould you borrow against your house? Find out if taking out a secured loan against your home is sensible or something to avoid.
Read MoreWhen 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.
Read MoreComparing loans could save you money. Our multiple award-winning comparison service makes sure you get the lowest interest rates and charges possible based on your individual circumstances. 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.
We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.
¹Based on data from the March 2022, Money Statistics report by The Money Charity.
Last updated: 5 April, 2022
