Unsecured loans let you borrow money without putting your possessions at risk, because they are not tied to anything you own.

Use this comparison to find a loan that offers the amount you need to borrow over the time you want to pay it back. You should check:

  • Monthly payments: This is how much of your loan you pay back each month. Some lenders offer repayment breaks, but this may cost more overall.

  • Representative APR: This is the interest you are charged for borrowing. Look for a loan with low APR and check to see if the interest is fixed or variable.

  • Total payable: This is the total cost of all your monthly payments and your interest. The shorter your borrowing term, the less you pay back.

  • Fees: You may have to pay early repayment charges, or fees for late payments. Some brokers also charge for arranging your loan, so check the terms before you apply.

You can usually apply online, by phone or in branch once you have found a loan that offers what you want.

Avoid applying for too many loans at once if your application is rejected, because this can damage your credit record.

How much do they cost?

If your lender thinks you are at risk of missing your repayments, you will be charged more for your loan. Some of the factors that affect the cost of your loan include:

  • What you borrow: The more you borrow, the higher your monthly repayments will be

  • How long you borrow for: Short term loans cost more monthly, but you pay less interest

  • Your credit history: You may pay a higher interest if you have bad credit

  • Your income: If your income is low, you may be charged a higher interest rate

Use our loan repayment calculator to see how much a loan costs to repay each month.

You should only apply for a loan you can afford to pay back. Here is what happens if you cannot pay back your loan.

What if you have bad credit?

You may still be able to get an unsecured personal loan by comparing:

  • Guarantor loans, which let you borrow more by nominating a friend or family member to take over the repayments if you cannot pay back your loan.

  • Bad credit loans let you borrow even if you have a poor credit history. However, your choice of lender is limited and you may pay more interest.

You may be able to borrow what you need with a secured loan, which is tied to something you own like your house or car. However, if you cannot pay back your loan, your lender can then take this from you.

Unsecured loans FAQs


How can I get an unsecured loan?


Use this comparison to find the cheapest loan that offers the amount you want to borrow. You can then apply online, by phone or by post.


How much can I borrow with an unsecured loan?


Most unsecured loans let you borrow up to 25,000. However, how much you can borrow will depend on your income and your credit history.


Can I get an unsecured loan if I have bad credit?


Yes, but you may not be able to get the cheapest rates if you have poor credit. Use our comparison to find unsecured bad credit lenders.


What does APR mean?


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.


What happens if I miss a payment?


You may be charged a fee and pay more interest because you will owe money for longer. Here is what to do if you cannot pay back your loan.


How long can I borrow for?


Most unsecured loans let you borrow between 1 and 5 years, but you may be able to borrow for longer. Here is more information on borrowing terms.


Can I cancel my loan?


Yes, you have a 14 day cooling off period to cancel your loan. But you must pay back any money borrowed during that time, within 30 days of cancelling.

About our loans comparison


Who do we include in this comparison?


We include every unsecured loan you can get in the UK and peer to peer and credit union loans from our panel. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.


How do we make money from our comparison?


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 here.

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