Compare £10,000 personal loans

Want £10,000 in your account by the end of the week? Here's how to find the best rates available to you and get your application approved.

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  • Good and bad credit histories accepted
  • Fast funding with no hidden costs
  • One simple form to compare lenders

£10,000 is a lot of money, so most – but not all – lenders will look for a good-to-excellent credit score before they’ll approve you. The good news is there are now plenty of specialist lenders who lend to less than perfect credit histories, but if you’re not careful you could end up paying more interest than you need to – with some lenders charging upwards of 40% annually. We’ll help you understand your options and compare lenders – to find loans you can get approved for, at decent rates.

£10,000 loans for good credit scores

Table: sorted by representative APR, promoted deals first

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Name Product Total Payable Monthly Repayment Representative APR Link
Hitachi Personal Finance Hitachi Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.2% p.a. (fixed). Representative APR 3.2% and total payable £10,493.64 in monthly repayments of £291.49.
NatWest Existing Customer Personal Loan (specific eligibility criteria apply)
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
Post Office Money® Personal Loan
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Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.
Royal Bank of Scotland Existing Customer Personal Loan (specific eligibility criteria apply)
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
AA Member Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.0% p.a. (fixed). Representative APR 3.0% and total payable £10,462.68 in monthly repayments of £290.63.
Zopa Personal Loan
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Representative example: Borrow £10,000.00 over 5 years at a rate of 8.8% p.a. (fixed) with an application fee of £240.00. Representative APR 9.9% and total payable £12,602.87 in monthly repayments of £210.05.
Lloyds Bank Existing Customer Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.
Lending Works Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 5.8% p.a. (fixed) with an application fee of £0.00. Representative APR 10.0% and total payable £11,543.40 in monthly repayments of £320.65.
M&S Bank Personal Loan
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Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.

Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

What are your loan options if you want to borrow £10,000?

The options available to you will depend on your circumstances and why you need the loan. The same goes for the rates offered – the advertised “representative APR” that each lender shouts about is usually only awarded to 51% of their approved customers, so it can be distracting. Let’s take a look at some typical scenarios.

If you have bad credit

Specialist lenders do offer loans of £10,000 (or more) to people whose credit history isn’t perfect. The challenge is finding a loan you’ll get approved for which doesn’t have a terrible rate.

Crucially, don’t apply to the first lender you come across. Each application involves a credit check and a small negative impact on your credit score. Only hit “apply” when you’re confident the lender will approve you. Most offer an “eligibility checker” to check your likelihood of success without impacting your score.

You could go direct to a specialist lender like Everyday loans for an unsecured personal loan for bad credit, but you might be missing out on better rates.

A more sensible approach is a loan matching service. That’s a fancy way of saying a broker that runs “soft search” credit checks with a number of lenders to see which would approve you. You’ll need to fill in a short online form, but it’s a lot faster than going to multiple lenders individually.

Compare pre-approved loans

Applying with a guarantor could help you to access better rates than you might if you applied alone. A guarantor is a friend or relative (with good credit) who promises the lender that they’ll repay the loan if you don’t. Because there’s less risk for the lender, the guarantor loan could be offered at a lower rate.

Finally, if you’re a homeowner, you could leverage the equity in your property. Put simply, offering security (i.e. using your home as collateral) means that a loan represents lower risk to a lender, which normally in turn means lower rates for the borrower. It’s not a decision to be entered into lightly and usually means borrowing over a longer term, but could offer you the most competitive rates. Secured loans are also known as “second charge mortgages”, and are a common choice for debt consolidation.

If you’re self-employed

Lenders realise that this is an expanding market which needs to be served, and as a result, more lenders are offering loans to self-employed applicants. Whatever stage you’re at, if you know your options and how best to go about applying, you’ll have a better chance of having your loan approved.

Compare loans for the self-employed

If it’s for a business

A £10,000 loan taken out for business purposes is different from one taken out for personal use. Lenders often stipulate that their personal loans are not to be used for business purposes. There are a variety of business loans available, and some are even government-backed – which can mean better rates for borrowers.

Compare £10,000 business loans

If you have good credit

You’ll most probably have more options available to you if you’re looking at borrowing £10,000 and you have good credit. You’ll likely be able to apply with a traditional lender such as a bank and enjoy the most competitive rates. You may also find that your current bank offers same-day funding to existing customers, although it usually pays to shop around.

Compare rates for good credit scores

How to compare £10,000 loans

Here are some of the key factors to consider when comparing £10,000 personal loans:

  • Total amount payable. Don’t fall into the trap of paying attention to the rate and not the overall cost. Aim to keep instalments affordable and the total cost as low as possible.
  • Monthly repayment. Usually the loan term will be dictated by how much you’re willing/able to pay back each month. By spreading repayment over 5 years, for example, you may be able to borrow more because the lower monthly repayments could be considered more affordable. As a general rule, the longer you borrow for, the more you pay overall (although this isn’t always the case). Aim for the shortest loan possible which has affordable monthly repayments.
  • Eligibility. Never apply for a loan until you’ve checked the eligibility criteria. As well as wasting your own time, a declined application will be visible in your credit report – too many of these, and you’re likely to put off prospective lenders.
  • Rates. Lenders refer to their loan’s “Representative APR” but are actually only obliged to award this rate to 51% of those who take out the loan. The other 49% could be given a higher rate. Lenders will normally give you a more accurate quote, plus your likelihood of approval, when you give them a few more details about yourself, including your address, bank account details and salary. This process can involve a credit check, but should not affect your credit rating.
  • Fees. Although set-up/product fees are increasingly rare, it’s worth checking this for the loans that you’re considering. If you’re considering a secured loan, there is likely to be a fee involved.
  • Turnaround time. The time it takes to get your loan approved and for it to arrive into your bank account will differ between lenders. Make sure the lender you apply with can get your loan amount to you when you need it.
  • Early repayment. While lenders will not normally penalise you for paying back some or all of the loan early, that doesn’t necessarily mean that doing so will save you money in interest. You could be charged one or even two months interest to settle your loan early, so if early repayment is on the cards, or if you’d like to aim to overpay a little each month, check your product terms to see how much this would actually benefit you.

Video: 3 tips for finding the cheapest personal loan

£10,000 loan illustrations

Borrowing over a longer term can bring your monthly repayments down to more affordable levels. It also pushes up the overall cost of the loan however, making it important that you secure a competitive rate.

Whether you’re buying a car, consolidating debt or planning your wedding, here are some examples of £10,000 loans at varying rates and loan terms.

Interest rate of 5.0% fixed p.a. Interest rate of 10.0% fixed p.a. Interest rate of 25.0% fixed p.a.
1 year term £856.07 monthly,
£10,272.90 overall.
£879.16 monthly,
£10,549.91 overall.
£950.44 monthly,
£11,405.30 overall.
3 year term £299.71 monthly,
£10,789.52 overall.
£322.67 monthly,
£11,616.19 overall.
£397.60 monthly,
£14,313.54 overall.
5 year term £188.71 monthly,
£11,322.74 overall.
£212.47 monthly,
£12,748.23 overall.
£293.51 monthly,
£17,610.79 overall.

Amigo Guarantor Personal Loan

Borrow up to £10,000 within 24 hours with a guarantor

  • Amigo loans will not judge you based on your credit score
  • Loans of £500-£10,000 over 1-5 years
  • Loans normally paid out within 24hrs of the guarantor being accepted

Representative example: Borrow £5,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £8,782.92 in monthly repayments of £243.97.

Promoted

Can't I just take out a credit card?

Potentially, yes. However the answer depends on factors like how you intend to pay the money back and whether or not you can get a £10,000 credit limit.

Personal loans come in a lump sum – you have a predetermined amount of time to pay them off. By contrast, credit cards are a revolving form of borrowing, so they can theoretically last a lifetime. You borrow what you need, when you need it (subject to a card’s monthly limit) and you have to make at least a minimum monthly payment on your balance. This can tempt borrowers into only paying the minimum and making additional purchases later on, resulting in indefinite debt. Credit card interest rates are generally variable, but cards often come with a promotional fixed-rate introductory period.

Using the wrong credit card could cost you more, because credit cards tend to have higher rates than personal loans. However, a card with a promotional rate of 0% on purchases could be a smart option, depending on your circumstances.

Finally consider any other fees (application, monthly or annual fees), any offers/rewards and the length of the application/approval process before settling on a credit card, personal loan or other form of credit, and don’t forget that you’ll pay a charge each time you withdraw cash on a credit card.

Frequently asked questions

Will you be approved?

Check your personalised rates and likelihood of acceptance.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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