100% Recommend

Dave Beard

Expertly compared by Dave Beard

Products Updated March 18, 2021

The actual rate you're offered will depend on your personal circumstances – including your credit rating.

16 providers expertly compared:

Natwest Bank

Loan Amount
£7,500 - £19,950

Annual Percentage Rate (APR)
3.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.8/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.9%

Total repaid will be:

£50,805

With the Natwest if you're thinking about buying a new car, getting your your finances in order or making some new home improvements then a loan from the Natwest could be just what you need.

Representative Example

16 providers expertly compared:

Royal Bank of Scotland

Loan Amount
£1,000 - £50,000

Annual Percentage Rate (APR)
3.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.9%

Total repaid will be:

£50,805

To apply, you must be 18+ and a UK resident with a Royal Bank of Scotland current account (held for 3+ months). Borrowing money is a big decision. But with a personal loan from the RBS, it doesn't have to be a headache.

Representative Example

16 providers expertly compared:

Paragon Bank

Loan Amount
£10,000 - £250,000

Annual Percentage Rate (APR)
3.7%

Loan Term
1 - 30 years

Loan Type
Secured & Unsecured Loans

Status
Homeowners & Tenants

Rated 4.7/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£50,805

Paragons finance packages contain flexible terms to make sure you get a deal that's right for you. From personal loans to second charge mortgages Paragon has a range of funding solutions

16 providers expertly compared:

Hastings Direct

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.8%

Loan Term
0 - 5 years

Loan Type
Unsecured Personal Loan

Status

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.8%

Total repaid will be:

£50,805

If you're looking to replace your car, planning on some new home improvements, or you simply wish to get your finances in order, a personal loan from Hastings Direct could be the funding solution you're looking for.

Representative Example

16 providers expertly compared:

Prestige Finance

Loan Amount
£10,000 - £250,000

Annual Percentage Rate (APR)
3.8%

Loan Term
1 - 30 years

Loan Type
Secured Loans

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.8%

Total repaid will be:

£50,805

Prestige Finance is part of OneSavings Bank who are a specialist lender, primarily focused on carefully selected sub-sectors of the mortgage and loan market through an integrated multi-brand approach.

16 providers expertly compared:

Post Office

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.1%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.1%

Total repaid will be:

£50,805

Loans from the Post Office are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. Terms from 1 year to 7 years, depending on the amount borrowed and funds could be transferred the following day with an instant lending decision in most cases.

Representative Example

16 providers expertly compared:

AA Loans

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.1%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.1%

Total repaid will be:

£50,805

The AA don't just keep cars on the road, they can help keep your finances running smoothly too. Whether it's a new purchase, a holiday in the sun or getting some help to manage your existing debt the AA is here to help with a personal loan.

Representative Example

16 providers expertly compared:

Leap

Loan Amount
£100 - £15,000

Annual Percentage Rate (APR)
4%

Loan Term
1 - 6 years

Loan Type
Peer-to-Peer Loan

Status
Homeowners & Tenants

Rated 4.8/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

4%

Total repaid will be:

£50,805

Leap's aim is to help streamline your debts with a low-interest peer-to-peer loan, so you’ll have more money to do more of what you love doing.

16 providers expertly compared:

Lending Works

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
7.9%

Loan Term
1 - 5 years

Loan Type
Peer-to-Peer Loans

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

7.9%

Total repaid will be:

£50,805

Lending Works is a peer to peer lender that connects people that want to invest their money with borrowers who want to get a better rate on their personal loan. Loans available from £1,000 to £25,000 over 1 -5 years.

16 providers expertly compared:

Zopa

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
9.9%

Loan Term
1 - 7 years

Loan Type
Peer to Peer Lender

Status
Homeowners & Tenants

Rated 5.0/ 5

Good Credit

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

9.9%

Total repaid will be:

£50,805

Zopa directly match people looking for a personal loan with people looking to invest. It's their way of making money simple and fair. Since 2005 Zopa have approved a staggering £2.92 billion in loans.

Representative Example

16 providers expertly compared:

My Community Finance

Loan Amount
£1,500 - £25,000

Annual Percentage Rate (APR)
23.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

23.9%

Total repaid will be:

£50,805

My Community Finance have taken inspiration from the past to build a better financial future - where community matters. They’re a network of Credit Unions and ethical lenders. My Community Finance looks to give everyone access to fairly priced financial products.

Representative Example

16 providers expertly compared:

Lendable

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
27.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.3/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

27.9%

Total repaid will be:

£50,805

Lenable offer fast loans at fair rates. See your rate before you apply - it won’t affect your credit score. Lendable offer a paperless application with instant quotes. You can manage your loan online, top up, repay early without a settlement fee.

Representative Example

16 providers expertly compared:

Oplo

Loan Amount
£2,000 - £15,000

Annual Percentage Rate (APR)
18.2%

Loan Term
2 - 6 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

18.2%

Total repaid will be:

£50,805

Oplo Personal Loans offer unsecured personal loans from £2,000 to £15,000. Whether you’re looking to buy a new car, a new kitchen or thinking of any type of major purchase they can help secure the funding you need.

Representative Example

16 providers expertly compared:

Koyo

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £7,500

Annual Percentage Rate (APR)
27%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

27%

Total repaid will be:

£50,805

Koyo offers one-day loan approval and they normally give a decision after 1 full working day. Once approved, Koyo says the money could be in your account within 1 working day.

Representative Example

16 providers expertly compared:

Everyday Loans

Loan Amount
£1,000 - £15,000

Annual Percentage Rate (APR)
93.6%

Loan Term
2 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.3/ 5

Poor Credit

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

93.6%

Total repaid will be:

£50,805

With everyday loans, you're more than just your credit score. Here at everyday we look at your credit future, not just your credit history. As such even if you have bad credit now or you've had a poor credit score in the past, we may be able to help.

Representative Example

16 providers expertly compared:

Buddy Loans

Loan Amount
£999 - £10,000

Annual Percentage Rate (APR)
49.9%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status

Rated 4.2/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

49.9%

Total repaid will be:

£50,805

At Buddy Loans their goal is to pay out your money on the same day of the application and they will still consider your application if you can afford it, even if you have CCJs or DEFAULTS. Buddy Loans can be used for any purpose such as debt consolidation, car purchase or home improvements.

Representative Example

Read our customer and visitor reviews for this product:

Rating: 4.5 / 5 with 2 votes

Good comparison

by Mandy Thomson

Good comparison service and lenders to choose from. Easy application form.

Plently of loans to choose from

by SL

These facility by Feasible.co.uk provided many solutions and gave me choice of several lenders as part of the search. Vey fast and no issues using them. Quick to phone me back also.

Get Added Flexibility with Instalment Loans

Instalment loans ranging from £100 to £250,000 offer a simple and flexible way to borrow money. With the opportunity to spread repayments over several months and years, you can pay back in monthly instalments to make life easier – and you always have the option to repay early if you need to.

Lending Expert is delighted to be working with the entire UK market of instalment loan providers, helping you find the right product for you based on your loan amount and credit history. With the option to repay over 1 to 30 years in instalments, we can find the best option for you. 

Start by using our comparison table to compare rates, loan amounts and product details – and simply click on ‘check my eligibility’ to be taken directly to the lender’s website where you can apply.

 

Key Features

  • Borrow £100 to £250,000
  • Repay over 1 to 30 years
  • Repay in monthly instalments
  • Unsecured, personal, guarantor and secured loan options available
  • Rates from 3.1% APR
  • Same day funding available
  • All credit histories considered
  • Early repayment available

 

How Do Instalment Loans Work?

Instalment loans allow you to borrow money for personal, lifestyle or business purposes and then repay the loan and interest in monthly instalments. 

With most customers selecting the last working day of the month to make their repayments, the agreed repayment amount simply comes out of your bank account on this date for the duration of the loan (lasting 1 to 30 years).

Instalment loans are flexible because you can receive a large sum of money upfront and then repay in small repayments, helping you stay on top of cash flow.

The longer you wish to borrow money for, the more expensive it will be since the interest accumulates over time. However, in most cases, you have the option to repay your loan off early or make overpayments to bring the overall cost down. There may be fees for early repayment, so always check this with your instalment loans direct lender.

 

What Are The Benefits of Instalment Loans?

Spread repayment – Instalment loans offer important flexibility to help you spread your repayment over a longer period of time. Whether you need money for an emergency, home improvements or to consolidate your debt, it can be helpful to receive the money you require in one lump sum, but with the breathing space to repay in affordable chunks over several months or years.

 

Stay on top of your cash flow – With certain types of short term loans, such as payday and bridging loans, there can be pressure to pay back the loan very quickly (in under 24 months). But with instalment loans, you have the option to extend them for much longer (up to 30 years) and this can help you keep your finances in order and relieve any financial pressures.

 

Early repayment – If you find that you are in a position to repay the full amount early, you can typically do so – and you should be able to save money on the overall interest that has been charged.

 

Are Instalment Loans Right for Me?

Instalment loans can certainly be right for you, depending on your requirements. Some people need money fast and want to pay them back as quickly as possible (e.g payday loans). However, some consumers benefit from having a loan where they can spread the repayment over time.

You can also borrow large amounts through instalment finance, with up to £25,000 for unsecured loans or as much as £250,000 if secured against your property or vehicle (or higher).

Before you apply for an instalment loan, it is always important to consider how long you need money for and how you plan to repay your loan. Will you be paying off the loan from your income from work? Savings? Or will you need to add another loan on top? Having a clear plan to repay your loan will be very useful to avoid financial difficulty down the line.

 

What is the Criteria?

  • 18 or over
  • UK resident
  • Employed and able to cover monthly repayments
  • Valid UK bank account, email address and contact number
  • Good or average credit score (unsecured loans)
  • Adverse credit considered (secured loans)
  • Will need collateral i.e property or car (secured loans)
  • No recent bankruptcy

 

How Do Repayments Work for Instalment Loans?

The repayments for instalment loans are typically equal monthly instalments, making it very simple to know how much you owe each month and this is typically collected automatically from your bank account or debit account.

Your loan repayment will be made up of a combination of capital and interest and depending on the loan product, the instalments may not be exactly equal, so it is always important to check this with your lender.

Representative Example: Borrow £400 for 6 months. Total repayment £734.23 in 6 monthly payments of £122.37. Representative APR 855.85%

 

Can I Get an Instalment Loan with Bad Credit?

Yes, there are several loan options available for people with bad credit. You may be eligible for an unsecured, personal or payday loan with bad credit, provided that you have a stable income, employment and can afford monthly repayments.

If you have very poor credit or a recent CCJ, you may need to use some form of security or collateral to be eligible. This could involve using your car or property as security to borrow money – but this could be at risk of repossession if you do not keep up with payments. See secured loans for more information.

 

How to Apply for Instalment Loans with Lending Expert

To apply for direct instalment loans with Lending Expert, use our comparison table provided to give you a full market overview and select the lender that best suits your needs. With products ranging from unsecured, secured and guarantor, you are sure to find the right loan for you.

Simply click on ‘check my eligibility’ to be taken directly to the lender’s website where you can apply in less than 5 minutes and usually get an immediate decision. 

Unsecured loans can usually be approved and funded within 24 to 48 hours, with secured loans taking up to 2 weeks to confirm your details and verify your assets.

At Lending Expert, we are proud to be one of the UK’s leading price comparison sites for loan products. We do not charge any fees for using our service and applying with us or our panel of direct lenders will not impact your credit. For any further questions, please visit our FAQs or contact us directly by email.

 

FAQ

No. With the exception of some logbook lenders, most lenders will require a formal credit check in order to establish your creditworthiness. A lender will need to check into your past credit to check for any issues such as records of missed payments, outstanding or unpaid debts, CCJ's or even a past history of bankruptcy.

Yes. A lender will look at the loan affordability and check that your current income from your casual work is adequate enough to meet the loan repayments. You will also need to show proof of income from your current employer such as your most recent payslips.

Yes, we work with direct lenders only, so you have peace of mind that you when you apply, that you will be working with the lender you have chosen, with no other middlemen or brokers.

Depending on the product, you may require a guarantor to co-sign your loan agreements. This is commonly used by borrowers with poor credit or no credit ratings and they need to add a bit more security to their application. Guarantor loans can be an effective way to borrow, but we also compare secured options if you need them too.

A basic instalment loan can offer £100 and this is more likely to resemble a payday product lasting a few months. With unsecured loans you can borrow up to £25,000 and secured loans can allow you to borrow as much as £250,000 or even higher depending on the size and value of your security

If you are borrowing an unsecured loan or guarantor loan, this can usually be approved and funded in 24-48 hours. For secured loans, this can take up to 2 weeks (or longer) to confirm and verify your assets ready for funding.

No, applying for an instalment loan will not have a negative impact on your credit score. There will be a search footprint on your credit file to confirm that a credit check has been carried out, but this will not have a negative effect and will disappear after a few months.

Yes, if you do not want to repay in monthly instalments, there are options for paying off the entire loan in one payment. This includes payday loans and bridging loans, where the payment is rolled up until the end of the loan term and repaid in full.