Personal Loans | Loans Over 1 Year @CreditRaters.com

Compare Personal Loans

Use Credit Raters today to compare the UK’s leading personal loans.

Warning: Late repayment can cause serious money problems, for help and advice please go to moneyadviceservice.org.uk

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Loan Amount

£100 - £1000

Loan Term

1 - 12 Months

Interest

259.33%

APR

947%

Instalment Loan

Borrow £400 for 6 months. Total repayment: £750.78 in 6 monthly payments of £125.13. Interest p.a: 259.33% (fixed). Representative 947% APR.

Loan Amount

£500 - £15000

Loan Term

12 - 60 Months

Interest

Variable

APR

49.7%

Guarantor Loan

Borrow £4,000 over 36 months. Monthly repayment of £194.78. Total repayable is £7012.08. Interest payable is £3012.08. Fixed APR of 49.7%. Interest rate of 41% per annum. Representative APR 49.7% (fixed).

Loan Amount

£100 - £700

Loan Term

1 - 6 Months

Interest

274%

APR

1081.24%

Instalment Loan

Amount of credit: £300 for 4 months. Interest: £185.68. Interest rate: 274%pa (fixed). Four repayments of: £121.42. Total amount payable: £485.68. Representative 1081.24% APR.

Loan Amount

£1000 - £20000

Loan Term

24 - 60 Months

Interest

20.33%

APR

20.33%

Car Finance Loan

Loan amount £7,500, 60 monthly repayments £200.08 Representative APR 20.33% fixed, loan term 60 months an annual interest rate of 20.33% Total cost of credit £4505.00, total amount repayable £12005.00

Loan Amount

£500 - £25000

Loan Term

12 - 48 Months

Interest

13%

APR

27.4%

Car Finance Loan

Amount of credit £7500 repayable by 47 monthly repayments of £244.79 at a fixed annual interest rate of 13%, Representative APR 27.4%. Total cost of credit £3899.92. Total amount repayable £11899.92.

Loan Amount

£1000 - £20000

Loan Term

24 - 60 Months

Interest

33.6%

APR

33.6%

Car Finance Loan

Borrowing £1000 over 24 months with a best available rate of 33.6% (fixed) and £0.00 deposit, amount payable is £56.21 per month. The total amount payable is £1349.04*.

Loan Amount

£1000 - £50000

Loan Term

12 - 60 Months

Interest

10.87%

APR

21.8%

Car Finance Loan

Average credit score: Loan amount £5000 – 48 monthly payments £149.46 – Total cost of credit £2174.08 – total amount payable £7174.08 – representative example 21.8% APR. This is a yearly flat rate of interest of 10.87%. This is a fixed rate.

Loan Amount

£500 - £5000

Loan Term

3 - 36 Months

Interest

65%

APR

171.9%

Logbook Loan

Amount of credit £1000 repayable by 12 monthly repayments of £137.50 at a fixed annual interest rate of 65%, Representative APR 171.9%. Total cost of credit £650. Total amount repayable £1650.

Loan Amount

£50 - £1000

Loan Term

1 - 3 Months

Interest

292%

APR

1299.1%

Instalment Loan

Representative Example: Amount of credit: £300 for 81 days with one repayment of £97.20 and one repayment of £397.20. Interest: £194.40. Interest rate: 292% pa (fixed). 1299.1% APR Representative.

Loan Amount

£100 - £3600

Loan Term

3 - 12 Months

Interest

238%

APR

788%

Instalment Loan

Borrow £500 for 6 months. Annual interest rate 238% (variable). 1 instalment of £142.10 & 5 equal instalments of £142.42. Total amount to repay £854.20. Representative 788% APR

Loan Amount

£500 - £10000

Loan Term

12 - 60 Months

Interest

36.9%

APR

43.8%

Guarantor Loan

Borrowing £4,000 over 3 years at an interest rate of 36.9%p.a. (fixed), you will repay 36 monthly payments of £185.27. Interest payable £2,669.72. Total repayable £6,669.72. Representative 43.8% APR.

Loan Amount

£150 - £500

Loan Term

3 - 5 Months

Interest

160%

APR

677%

Instalment Loan

Loan amount £200 repayable over 3 months. Total amount repayable £280 in 3 payments of £93.33. Interest 160% p.a. fixed. Representative 677% APR.

Loan Amount

£500 - £10000

Loan Term

12 - 60 Months

Interest

47.8%

APR

47.8%

Guarantor Loan

Representative Example: £3000 over 3 years, representative 47.8% APR Fixed. Monthly payment £143.84. Annual interest rate 39.7%. Interest payable £2178.24. Total payable £5178.24.

Loan Amount

£250 - £50000

Loan Term

12 - 36 Months

Interest

132%

APR

450.5%

Logbook Loan

If you borrow £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will repay 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total.

Loan Amount

£1000 - £10000

Loan Term

12 - 60 Months

Interest

33.3%

APR

39.9%

Guarantor Loan

Representative example: £4500 over 3 years, representative 38.9% APR fixed. Monthly payment £199.26. Annual interest rate 33.3% fixed. Interest payable £2673.36. Total repayable £7173.36.

Loan Amount

£250 - £1000

Loan Term

18 - 18 Months

Interest

205.2%

APR

989.9%

Instalment Loan

Representative example if you borrow £600 over 18 months at a flat rate of 205.2% per annum (fixed) with a representative 989.9% APR you will make 17 monthly payments of £135.93 and 1 payment of £135.99, repaying £2,446.80 in total.

Loan Amount

£100 - £750

Loan Term

1 - 5 Months

Interest

292%

APR

1255%

Instalment Loan

The Representative APR is 1297% APR so if you borrow £100 over 35 days at 292% p.a. (fixed) you will repay £28 in interest and £128 in total.

Loan Amount

£250 - £1000

Loan Term

2 - 3 Months

Interest

193.45%

APR

397%

Instalment Loan

Representative Example: Borrow: £1000 for 12 weeks. Repayment method: Three installments. Interest rate: 193.45%. Total repayment of: £1448. Representative: 397% APR.

Loan Amount

£1000 - £25000

Loan Term

12 - 60 Months

Interest

2.9%

APR

3%

Personal Loan

A loan of £10,000 over 5 years will cost you £179.25 per month at a representative 2.9% APR. The total cost after 5 years is £10,754, which includes £754.87 interest at 2.9% fixed and a £0 fee. The total amount of credit is £10,000.

Loan Amount

£100 - £800

Loan Term

0 - 1 Months

Interest

292%

APR

1281.8%

Instalment Loan

Total amount of credit £80, duration of the agreement 29 days, rate of interest 292% per annum (fixed), total amount payable (in one repayment) £98.56. Representative 1281.8% APR.

Personal loans are at the heart of consumer borrowing, making up the vast majority of loans that are issued each year by lenders. They can come in a huge variety of forms and are offered by hundreds of mainstream and independent lenders from across the UK.

In this guide, we’ll take a look at the different types of personal loans available along with some handy information about how you can pick up a great rate on your next line of credit.

What Are Personal Loans?

Personal loans, unlike payday loans is a term used to describe any form of unsecured loan which is borrowed as a lump sum over a fixed number of years. Unsecured loans are those which are not tied to any assets that you own meaning that none of your personal possessions will ever be put at risk through non payment.

Whilst this is a great way to protect your personal assets, it does mean that you’re likely to receive a slightly higher interest rate to account for the added risk that the lender takes on by waiving your possessions as security.

Each application is assessed on its individual merits and, with so many personal loan providers currently operating in the UK, there are plenty of suitable options for those with a less than perfect credit history.

What Can Personal Loans Be Used For?

The beauty of unsecured loans is their flexibility. They can be used for almost any life expense including home improvements, debt consolidation, the purchase of a new vehicle, a holiday, school fees or simply to take care of an unforeseen financial emergency.

How Are My Repayments Calculated?

Whenever you apply for a loan, you’ll select how much you want to borrow along with the length of time that you’d like to repay the loan over. Depending on your credit rating and ability to repay the loan on time, the lender will then calculate a rate of interest specific to your application that takes into account the solidity of your credit report to reflect the risk that unsecured lending brings.

Interest can either spread evenly across each month that you’re repaying your loan in order to bring consistency to your repayments. It’s also possible to arrange your loan so that the interest paid reflects the total amount outstanding, meaning that your interest payments will reduce each month as the total amount of debt decreases.

These repayments will then be listed on your credit agreement which will need to be electronically signed prior to funds being transferred.

Need to repay your loan early? Not a problem! If you’d rather clear off your personal loan before the end of the credit agreement, simply get in touch with your lender and they’ll be able to quickly and easily give you a final settlement figure. It’s becoming more and more common for lenders to waive early repayment charges, however it’s well worth investigating this with your lender before committing to an early repayment.

What If I’m Unable To Make Repayments On My Personal Loans?

Typically, repayments are made each month by direct debit. If you find that you’re financial circumstances have changed since taking out the loan and repayments are becoming difficult then it’s certainly not the end of the world.

Simply contact your lender straight away and explain your situation to them with complete transparency. They’re obliged to be sympathetic towards your situation and will often be able to freeze interest and charges until you’re back on your feet. The worst thing that you can do is to bury your head in the sand as this will only lead to further charges and a great deal of stress for you as the borrower.

Remember – always keep in touch with your creditor and they’ll do everything in their power to help you overcome a temporary shift in finances.

How Do I Apply For A Personal Loan?

The straightforward application process has been helped massively by the advancement of online technology. No longer do you have to sit through lengthy appointments with your bank before waiting several weeks for an underwriting decision that could prove unfavourable anyway.

It all starts by completing your initial application form here at Creditraters.com. We’ll then help you to compare personal loans from across the UK by presenting you with a range of information so that you can make an informed decision on which provider will suit you best.

Each lender takes into account a wide variety of factors during the application process, however most of this is now done online in a matter of minutes, so in most instances you can expect a same day decision. You’ll be required to provide details about your current employment status, income, existing outgoings and the purpose of your loan, as well as where you’d like the funds to be paid should you be accepted.

Once approved, you’ll receive a credit agreement which will detail how much you’ll need to pay back, the dates of your repayments, and the total amount of interest that will be payable. This will help you to keep on top of your new credit facility and ensure that your credit score improves as timely payments are made.