Compare Loans
Find the right loan at the best rate. Compare personal loans, bad credit options and debt consolidation from leading UK lenders — free and no obligation.
Whether you need to fund home improvements, consolidate existing debts, or cover an unexpected expense, a personal loan can be a straightforward way to borrow a fixed amount and repay it over a set period. But interest rates and terms vary enormously between lenders. Some charge APRs below 3% for larger loans, while bad credit options can exceed 30%. Comparing before you apply is the single most effective way to reduce the cost of borrowing.
Personal Loans
Fixed-rate unsecured loans from £1,000 to £25,000. Compare APRs from high-street banks and online lenders to find the cheapest borrowing for your needs.
Compare personal loans →Bad Credit Loans
Specialist lenders who consider applicants with lower credit scores. Guarantor loans, secured options and credit-builder products to help you borrow responsibly.
Compare bad credit loans →Debt Consolidation
Roll multiple debts into one manageable monthly payment. Compare consolidation loans that could reduce your total interest and simplify your finances.
Compare consolidation loans →How personal loans work in the UK
A personal loan — sometimes called an unsecured loan — lets you borrow a lump sum and repay it in fixed monthly instalments over an agreed term, typically 1 to 7 years. The interest rate is usually fixed at the outset, meaning your payments stay the same throughout.
Unlike a credit card, a personal loan gives you certainty: you know exactly what you owe each month and when the debt will be cleared. The best rates are reserved for borrowers with strong credit histories and loan amounts in the £7,500–£15,000 range, where competition between lenders is fiercest.
Lenders are required to show a representative APR, but the rate you actually receive depends on your individual circumstances. At least 51% of successful applicants must receive the advertised rate, but many get offered a higher one. This is why comparing your personalised rate — using soft-search eligibility checkers — is so important before you formally apply.
Choosing the right type of loan
If you have a good credit score and need to borrow between £1,000 and £25,000, a standard personal loan is usually the cheapest option. For larger amounts or longer terms, a secured loan (backed by your home) may offer lower rates but carries more risk — your property could be repossessed if you fail to keep up repayments.
If your credit score is poor, specialist bad credit lenders can still help, though at higher rates. Guarantor loans — where a friend or family member agrees to cover missed payments — can offer better rates than standard bad credit loans. Debt consolidation loans make sense when you have multiple debts at different rates and want to simplify into a single, potentially cheaper monthly payment.
Always check the total amount repayable, not just the monthly figure. A longer term means lower payments but more interest overall. And watch for early repayment charges — most lenders allow overpayments or early settlement, but some charge up to two months' interest as a fee.
Compare loans from lenders including
Barclays Santander Nationwide HSBC Zopa Lending Works M&S BankThree steps to a better loan
Why comparing matters
Average personal loan APR
The average UK personal loan rate sits around 6.4%, but the best lenders offer rates below 3% for strong applicants borrowing £7,500+.
Typical loan amount
The average UK personal loan is around £8,000, with the most competitive rates available on amounts between £7,500 and £15,000.
Applications rejected
Around a third of loan applications are declined. Checking eligibility first with a soft search avoids unnecessary hard searches on your credit file.
Average interest saved
Borrowers who compare before applying save an average of £1,200 in interest over the life of their loan versus accepting the first offer.
Loan comparison FAQs
Focus on the APR (Annual Percentage Rate) rather than just the monthly payment. The APR includes interest and fees, giving you the true cost of borrowing. Also consider the total amount repayable over the full term, and whether the rate is fixed or variable. Use soft-search eligibility checkers to see your personalised rate without affecting your credit score.
No. Using a comparison service like SaveCompare to check eligibility uses a soft search, which does not affect your credit score. A hard search only happens when you formally apply for a loan, and this is recorded on your credit file. That's why checking eligibility first is so important.
Yes, some lenders specialise in bad credit loans. The interest rates will be higher than standard personal loans, but comparing options helps you find the most affordable deal for your circumstances. Guarantor loans and secured loans may also be available at more competitive rates.
Personal loans in the UK typically range from £1,000 to £25,000, with repayment terms from 1 to 7 years. The amount you can borrow depends on your income, credit score, and existing commitments. Loans between £7,500 and £15,000 usually attract the lowest APRs because that's where lender competition is strongest.