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If you’re planning a large expenditure like some home improvements, a wedding or a new car, or if you’re looking to simplify existing debt, then an unsecured personal loan could help you. Here are some popular UK lenders that we review and compare.
Halifax was founded in 1853 and is now part of the Lloyds Banking Group. It offers personal loans from £1,000 to £25,000 for new and current customers, and existing customers can generally receive approval and funding in as little as 10 minutes.
Halifax was also Highly Commended in Finder’s 2020 Customer Satisfaction Awards.
Zopa is a peer-to-peer lending platform that offers unsecured personal loans up to £25,000 for 1 to 5 years. Borrowers will need to be at least 20 years old and earning at least £12,000 p.a. to be eligible for a loan.
Zopa was also Highly Commended in Finder’s 2020 Customer Satisfaction Awards.
Tesco Bank is the financial arm of supermarket giant Tesco, and offers personal loans for £1,000 to £35,000, with loan terms from 1-10 years. Tesco Clubcard members may be eligible for discounted interest rates, and borrowers with generally receive their funds within five working days.
Tesco Bank was also the winner of Finder’s 2020 Customer Satisfaction Awards for personal loans.
Sainsbury’s Bank is part of the Sainsbury’s supermarket chain and provides personal loans up to £40,000 for Nectar cardholders, or up to £25,000 for non-cardholders.
Nectar cardholders may also be eligible for discounted rates.
Santander is a Spanish bank and financial services company with a big presence in the UK. To be eligible for a Santander personal loan, borrowers will need to be at least 21 years old and earn at least £6,000 per year. New customers can borrow up to £20,000, and existing customers can borrow up to £25,000.
Part of the Marks and Spencer Group, M&S Bank offer personal loans from £1,000 to £15,000 over 1-7 years, or loans from £15,000 to £25,000 with terms of 1-5 years. M&S also offer discounted rates to existing customers, as well as loan repayment deferment options.
Founded in 1865, HSBC is one of the “Big Four” British banks, and provides personal loans up to £25,000, with loan terms from 1-8 years. Customers will need to be at least 18 years old and earn at least £10,000 per year to be eligible for a loan.
Another of the “Big Four” banks, Barclays was founded in 1690, and offers personal loans up to £50,000, with terms between 2 and 5 years. Existing customers can get instant approval, and loans can be funded immediately if it is signed online.
NatWest only offers personal loans to existing customers who have had another NatWest product for at least 3-6 months. Customers can borrow up to £50,000, and receive the fund within one business day of approval.
We asked borrowers to rate their overall satisfaction with their lender and whether they would recommend it to a friend. The table below shows both for each brand. We carried out our survey in December 2019.
|Personal loan provider||Customer satisfaction score|
Late repayments can cause you serious money problems. See our debt help guides.
A secured loan can help fund any home improvements you have planned. See how it works here.
Understand how personal loans work – from comparing lenders to getting approved – and secure the best rates and terms available to you.
Discover how to find the best interest rate for an £80,000 personal loan, as well as how to boost your chances of being accepted for one.
We look at average approval and funding times for online lenders, banks, peer-to-peer platforms and more.
Considering a TSB personal loan? Use our calculator to see out how much you’ll pay back each month, and find out how TSB’s loans hold up against the competition.
Considering a Santander personal loan? Use our calculator to work out how much it will cost you each month and overall.
Barclays’ existing customers in need of some extra financial support for their personal projects can apply for this fee-free unsecured personal loan.
Danske Bank Freedom, Choice Plus or Prestige current account holders may be entitled a discount on the rate of their personal loan. Here’s how it works.
Santander existing customers may be able to access preferential interest rates on personal loans at certain conditions. Here’s how it works.
Existing Santander customers can borrow up to £25,000 at a competitive interest rate. We look at how Santander personal loans work and their features.
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