Use our HSBC loan calculator to get an idea of how much you'd pay back on a fixed-rate, unsecured HSBC personal loan as a new or existing customer. Loan amounts between £1,000 and £50,000 with rates starting from 5.8%.
1Plus1 is a relatively small, family-run direct lender (not a broker) that received a Gold Trusted Service award from the reviews platform feefo. 1Plus1 says it will consider anyone for a loan and offers quick access to funds. Many 1Plus1 customers get the funds in their account the same day they apply.
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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.
Our calculator lets you pick how much you want to borrow over a time frame that suits you, so you can estimate how much you would pay back each month and pay back overall. We base our calculations on 1Plus1 Loans’ representative APR, but it’s important to note that your circumstances can affect the rate you’re offered. As you’ll see, the rates are relatively high, which is sadly the norm for guarantor products.
How do 1Plus1 loans compare against the competition?
See today's rates from across the personal loan market.
The 1plus1 Loans Guarantor Loan charges 39.9%APR representative on loans between £2,500 and £5,000. 1plus1 offers the unsecured personal loan with repayment terms between 1year and 5years, and applicants can apply to borrow from £1,000 to £5,000.
Key features of a 1Plus1 loan
Loan type
Unsecured Personal Loan
Loan amounts
£1,000 to £5,000
Loan terms
1 year to 5 years
Loan rate type
fixed
Fee
0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methods
Direct debit
APR and Representative APR explained
The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because 1plus1 Loans doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what 1plus1 Loans gives to at least 51% of those who take out the loan. The other 49% could pay more. 1plus1 Loans must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
1plus1 Loans advertises a representative APR of 39.9% on loans between £2,500 and £5,000 on the 1plus1 Loans Guarantor Loan.
What is a guarantor loan?
Rather than lending based on your credit score or your assets, guarantor loans require a second person to act as second signatory and security. This means that someone who has a better credit rating or who owns property can apply for the loan with you, so long as they agree to meet any payments you can’t. If your credit rating is low or non-existent, this can be one of your only options for securing some extra finance. Fortunately, they also count towards your future credit rating, so if you always pay on time you may find it easier to get finance through the regular lending streams next time.
Am I eligible for a 1Plus1 loan?
As long as you are not currently bankrupt or have a IVA, 1Plus1 will consider you for a loan. However there are quite a few criteria your guarantor will have to meet for your loan to be considered. They must:
Be 18+ or over 21 if they are not a homeowner. They must also be aged under 75 at the time the loan completes.
Be a resident in the UK. They can be a homeowner or a tenant with a very good credit rating. Unfortunately Channel Islands residents can’t currently act as your guarantor with 1Plus1.
Have a UK bank account and a valid UK debit card.
Not be currently bankrupt or with an IVA.
They must be able to meet the payment if you cannot.
They cannot be a spouse that lives with you, but can be a cohabiting parent.
How do I apply for a 1Plus1 loan?
Go to the 1Plus1 website and fill in your details on the “Apply” page.
Get your guarantor to register and receive a unique guarantor code if they are accepted.
Apply the guarantor code to your loan application, and apply for a 1Plus1 loan.
You’ll get a quick decision and the funds could be in your account the same day.
1Plus1 staff are available online around the clock, 7 days a week.
1Plus1 Loans Customer Reviews
1Plus1 Loans has received “excellent” reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.4 out of 5, based on more than 200 reviews (updated June 2023). Some customers praised their stress-free loan application process, but others flagged issues with customer service.
Customer support
You can contact customer support on 0330 1200 313, or email info@1plus1loans.co.uk.
Frequently asked questions
The loan amount will be paid into your guarantor’s bank account for them to pass the funds to you.
No, payments are fixed for the duration of your loan.
It’s best to set up a direct debit with 1Plus1 to make your repayments. There may be a charge on repayments made by other methods.
No, there are no set-up fees for 1Plus1 loans.
There is a 14 day period after you sign your loan agreement in which you can repay the money and cancel the loan.
Yes, 1Plus1 is authorised and regulated by the Financial Conduct Authority.
As long as you make an arrangement about payments with 1Plus1 as soon as possible they won’t contact your guarantor. If you fail to do this however, they will contact your guarantor for payment and even begin court proceedings if neither of you pay.
No, 1Plus1 are a direct lender.
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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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