Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Sites like RateSetter
RateSetter is perhaps the biggest name in peer-to-peer lending right now, but it's not alone, compare alternatives.
Established in 2010, RateSetter originally started as a peer-to-peer lending platform, providing swift and competitive fixed rate loans, with a maximum amount of £35,000, available online. In August 2020, Metro Bank successfully acquired RateSetter.
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan that you have in mind from a range of popular lenders:
Personal loan calculator
Table: sorted by representative APR, promoted deals first
With no guarantor
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With a guarantor
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With a guarantor who is a homeowner
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What is Ratesetter?
When a company’s name puts two words together without a space, then there’s a good chance that it’s a fintech upstart – RateSetter is no exception.
The peer-to-peer (P2P) lender is one of a host of new, online-only platforms that form a recent trend in personal finance. These platforms match investors looking to earn bank-beating rates of interest on their savings with borrowers looking to pay as little as possible on their loan. The theory goes that by cutting out the bank in the middle (with all its expensive overheads) P2P platforms can offer market-leading rates.
Compare Ratesetter alternatives
| Company | Description | Example Loan | |
|---|---|---|---|
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Borrow £1,000 to £25,000 over terms from 12 months to 60 months. Soft search facility means that checking your rates won't affect your credit score. FCA firm registration number: 722768. | Representative example: Borrow £7,500 over 36 months at a rate of 18% p.a. (fixed) with £440.00 fees. Representative APR 22.9% and total payable £10,144.52 in monthly repayments of £281.79. | Check eligibility |
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Borrow £1,000 to £25,000 over terms from 12 to 60 months. Soft search facility means that checking your rates won’t affect your credit score. FCA firm registration number: 718925. | Representative example: Borrow £7,500 over 5 years at a rate of 8.8% p.a. (fixed) with a £180 fee. Representative APR 9.9% and total payable £9,443 in monthly repayments of £157.40 | Check eligibility |
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Borrow £5,000 to £25,000 over terms from 12 months to 60 months. Soft search facility means that checking your rates won’t affect your credit score. FCA firm registration number: 723151. | Representative APR 9.9%. The rate you are offered depends on your personal circumstances, the loan amount and the repayment term, and may differ from the Representative APR. | Check eligibility |
Late repayments can cause you serious money problems. See our debt help guides.
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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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